WILL 2010 BE YOUR BEST YEAR?

We’ve all heard it’s not good to dwell on the past, nor spend too much time worrying about the future.  Living in the present is the best way to live healthy, happy lives.  We have also heard to everything there is a season.

 We are coming to a season where it is appropriate to briefly look back and see what we could have done better.  In the present world it is imperative to face the future with leading edge tools,  thinking, and training  which will keep us moving forward into the future. We must do this to provide services which are in the best interests of our clients, at a level that they deserve and to which they are entitled.  Equally important, a plan of growth  is absolutely necessary if we are to succeed in our careers.  We owe this, not only to our clients, but to our families and ourselves.

 Many of us have been doing quite well by doing much of the same things year after year without spending much time considering adjustments, whether major or minor, to what we do.  We have avoided the training opportunities which are available to us almost daily.  Today there is so much information and training available it’s hard to choose what to do. We are faced with so many directions and decisions from which to choose we become overwhelmed and find it far easier to just do what we’ve always done and hope for the best.  This is a luxury that we can no longer afford.  The increasing pace of change in the world around us will just not allow us to continue to do so.

 A good example: We have all seen the number of short sales recently and have been told these will increase in numbers and become an even larger segment of our industry.  Training is available in dealing with short sales, yet few agents have taken advantage of this opportunity.  The information obtained and the professional designations you will acquire will add an extra degree of success to your career, resulting in more income for you and your family.  There is no doubt that this will be true.  Our recent marketing affiliation with the Bank of America is going to provide additional listings to RE/MAX Properties East, but at present, these listings will only go to agents with either a CDPE or SFR designation. 

 No matter what your level of success in the past, I urge you to briefly look back and see what you could have done better, but of most importance look forward.  Most of you will have goals for 2010.  I urge you to take the time to have a specific written plan to reach those goals.  In writing this plan, be sure to include some time to learn something new which will help you to grow.  As is said,  “Anything that isn’t growing, is dying.”

 Within our organization we are fortunate to be surrounded with opportunities to support and help each of us develop and grow.  The hard way is to think you know it all and can do this alone.  During the coming months we should all make time to attend as many activities as we can where there are other agents present.  When you talk with another agent in this office you will always come away with an idea or a better feel for changes you may be considering to your plan.  This is not an opportunity other agents in Louisville will have.  Take advantage of it!

 Set a goal, develop a plan, and have a positive attitude. You cannot help but be successful in 2010.

 Dedicated to your success,  Harrell

 A footnote to the above:  We are all extremely fortunate to lead the lives we lead.  I would encourage each of you have a 2^nd goal and plan.  Touch someone else in this world that is less fortunate.  Whether it is money or just a kind word, take time to give something back to this world with no expectation of a benefit to you.  Just doing this may be your biggest benefit and success of 2010. 

Continuing Education Classes

Attention agents: It is that time of the year again….Everybody loves this time of the season as the calendar ticks closer to the end of the year and you have not yet attended your continuing education classes. However, RPE has made it easier than ever to get in your continuing education classes as all classes will be held in our office and, as an added bonus some of the classes will even be taught by our very own Kathy McGann!

Please be sure to review the schedule below and sign up for your classes before the year is over. If you have any questions regarding the classes be sure to contact Kathy McGann.

 Agent Education Services
Schedule

November 10, 2009
9:00 to 4:00
Kentucky Core Class
Credit: 6 Hrs. Law
Instructor: Doug Myers

November 20, 2009
9:00 to 12:00
You Before Me — Course #3
Instructor: Doug Myers

November 20, 2009
1:00 to 4:00
Ethics & RE — Course #1
Instructor: Kathy McGann

November 30, 2009
9:00 to 12:00
Agency — Course #700
Instructor: Kathy McGann

December 1, 2009
9:00 to 4:00
Kentucky Core Course
Credit: 6 Hrs. Law
Instructor: Doug Myers

December 12, 2009
9:00 to 12:00
Predatory Lending — Course #2
Instructor: Kathy McGann

December 28, 2009
9:00 to 12:00
Agency — Course #700
Instructor: Kathy McGann

December 28, 2009
1:00 to 4:00
Ethics & RE — Course #1
Instructor: Doug Myers

December 29, 2009
1:00 to 4:00
Ethics & RE — Course #1
Instructor: Doug Myers

Class Location:
10525 Timberwood Circle
Suite 213
Louisville, KY 40223

IT’S TIME WE GET IT TOGETHER!

I’ve  just finished the last session of this year’s focus groups.  My goal in these groups is to find as many specific things we can add/change/improve to help each of you individually and to improve the office in the ways you want. We do this so we may continue to provide the optimum environment for an agent to be successful, productive, and to meet their individual goals .

I’ve been thinking about what I learned in these sessions in the broadest sense.  It is apparent to me that we have been doing a pretty good job of providing many, many specific tools and systems for you to use.  In fact, substantially more than any other real estate office in this part of the country.  This, and more importantly, the fact that the agents of  this office are more talented, knowledgeable, caring and have more “fire in the belly” is substantiated by the statistical facts year after year.

Looking at the broader picture, I’ve found 2 areas that we must improve to achieve further excellence and widen the gap between RPE and all other offices.  One is my fault, the other belongs to you.

First,  I need to find a better way of keeping every agent in this office aware of the tools that are available.  There are times when you forget that some of these are available to you.  I need to do a better job of showing the advantages of specific tools, what they can do for you, and how they will be an asset to you in achieving your goals.   I need to do a better job of providing:  training and helping you to understand what each tool or system does; how it will fit into the way you work;  why it will work for you; the value and advantage it gives you; and how to use each tool efficiently and effectively (hands on training), to create  value ($).

Second,  YOU, need take the time to explore the new tools that become available and make an effort to see the possibilities of enhancing your business through these tools.  Too many agents remain set in their ways and reject change.  They would rather stay in their comfort zone and look for a multitude of reasons their business is down.  The old phrase “If you do what you always do, you’ll get what you always got”  is no longer true in our business.  Challenge yourself to MAKE time to come to office meetings and training sessions. Challenge yourself to be proactive and ask questions about tools and systems. Challenge us when you see changes or adjustments to these that would improve them for everyone’s benefit.  Continuously look for ideas to use these in unique ways no one has ever considered.

WE will not only remain the top office and agents in Metro Louisville, we will extend our lead by leaps and bounds and you will grow your business by becoming more efficient and effective than you ever thought possible.  Success is never easy, but the rewards are great.

A person’s true happiness comes from being able to look back in their life and feel they worked hard to achieve something and, in fact,…..achieved it!

You deserve true happiness!

Dedicated to your success,

Harrell

Tips for Generational Marketing

Baby Boomers – Generation X – Generation Y

 As the generation gap widens, it’s more important than ever that, you can communicate and motivate clients of all ages. It’s not an easy task. For the first time in history, the way we communicate is determined by our age.

 Bernice Ross, real estate coach and author, offers a few tactics for successfully interacting with different generations.

 Baby Boomers and Traditionalists: Relationships count.

 For the 137 million Americans 45 and older, the old rules still apply.  They value face-to-face interaction, they want to build relationships, and they like expertise and experience.

 Niche markets:  Boomer women control $9 trillion in wealth, and this generation is in its peak buying years for second homes.

 Generation X:  Information, not relationships, matter.

 For the 48 million Americans in their 30s and early 40s, face-to-face relationships take a back seat to information and independence.

 They want to maintain control of their time and their careers.  So don’t expect Gen Xers to eagerly set appointments. Do expect them to ask probing questions. They are naturally analytical.

 Niche markets: Single Gen X women are eager home buyers.  Gen Xers also are avid investors.

 Generation Y:  Collaboration and community are king.

 For Americans in their 20s and early 30s, success can’t come fast enough.  Like Gen X, Gen Y doesn’t rely on authority figures for information.  But while Gen X likes to research things for themselves, Gen Y leans on their friends for information.  Social media sites such as Facebook and Twitter are key for this group. 

 Niche market:  Gen Y mommy market.  Unlike Gen X, these kids want kids.

 We all know clients of any age want to be treated with respect and honesty, and respond well to an approach that doesn’t feel manipulative.  After all it’s ultimately their decision to buy or sell.

The Short Sale Process

We had a great sales meeting yesterday.  Stewart Prather’s review of our E&O policy was very informative.  There was a good bit of discussion on short sales.  The following form provides an explanation and overview of the short sale process.

 

 

THIS FORM is provided by __________________________________________________ (the “Company”). The following is an

explanation regarding some of the practical and legal issues involved in Short Sales.

1. SHORT – SALE DEFINED. The term “Short Sale” is used in the real estate business to describe a situation where

there is more debt owing against a property than the property is worth. In other words, the owner cannot sell the property

unless the creditors agree to accept a payment that is less than the amounts actually owed to those creditors. The creditors

are usually mortgage lenders, mortgage insurers, bankruptcy trustees, and federal, state and local taxing authorities (such

as the IRS or State Revenue Commission).

2. CONTRACT CONTINGENT ON THIRD PARTY APPROVAL. A Short Sale requires the written approval of the

creditors. Consequently, the owner of the property, and any interested buyer, are advised that even if they reach an

agreement between themselves for the purchase and sale of the property, that agreement will be contingent upon receipt of

creditor approval of the terms of the Short Sale.

3. THIRD PARTY REJECTION OR CHANGES TO PROPOSED SHORT SALE. Based upon the obvious financial loss,

creditors may reject a proposed Short Sale. If, however, the creditors do not reject the proposed Short Sale, they may send

to the owner a list of requested changes to the proposed purchase contract. Some of those changes may affect the owner

and others may affect the interested buyer. For example, the creditors may require that the property be sold in “As-Is”

condition. Also, the creditors will normally not permit the owner to pay for any of the buyer’s closings costs, repairs, etc. The

owner and the interested buyer are not obligated to accept any of the changes requested by the creditors in which case,

there will be no Short Sale. If, however, the owner, the interested buyer, and the creditors reach a written agreement with

each other, then, at that point, the Short Sale transaction may proceed to closing,

4. DELAYS IN RESPONSE FROM THE CREDITORS. Most purchase contracts for Short Sales impose a deadline for

written approval by the creditors. As a practical matter, the creditors rarely meet that deadline. THE OWNER AND THE

INTERESTED BUYER SHOULD BE PREPARED FOR SIGNIFICANT DELAYS IN RECEIVING ANY RESPONSE FROM

THE CREDITORS.

THE OWNER AND ANY INTERESTED BUYERS SHOULD UNDERSTAND THAT THE CREDITORS MAY NOT EVEN

RESPOND TO A REQUEST FOR APPROVAL OF A PROPOSED SHORT SALE TRANSACTION. In the event creditor

approval of the terms of a proposed Short Sale is not received prior to expiration of any time deadline in any applicable

purchase contract, then the owner and the prospective buyer shall determine whether the purchase contract to allow more

time for obtaining creditor approval, or whether the purchase contract shall simply be allowed to expire, with no further

obligations between the parties and with the earnest money deposit being returned to the prospective buyer. Any extension

 

COPYRIGHT UTAH ASSOCIATION OF REALTORS

Printed as modified by the Kentucky Real Estate Commission with permission of the Utah Association of REALTORS

®2004 – ALL RIGHTS RESERVED®.

 

2

 

of a purchase contract shall be at the discretion of both the owner and the prospective buyer, with no obligation on the part

of either party to extend.

5. PROPERTY TO REMAIN ON THE MARKET. Pending approval by the creditors of the terms of any Short Sale and

pending completion of settlement and closing on said Short Sale, the owner shall continue to market the property for sale

and solicit from interested buyers offers for purchase. If the terms of any of such offers are acceptable to the owner, then

the owner may accept such offer(s) as a back up contract in the event that any prior contracts of sale shall be allowed to

expire, without mutual extension, prior to creditor approval of the terms of Short Sale.

ACKNOWLEDGEMENT OF RECEIPT

The undersigned acknowledge that they have read and understand this document.

________________________ __________ _______________________ ___________

Signature Date/Time Signature Date/Time

 

OK!!! I messed up…Sort of!!!

 

Last week, Derby week, I was in meetings with VoicePad users from around the country. They were broker/owners from a variety of large successful companies, not just RE/MAX.

As you know, we were the first in the country to have this new version and I have always been high on VoicePad. I was smart enough to be first in getting it for the agents of our office and explain how powerful it was…but, I goofed by not giving you the follow up with creative ideas and ways to utilize it to get extra listings, extra buyers and consequently more closings. Having always believed and preached “The difference between the ordinary and the extra-ordinary is that little extra” I have become a hypocrit!

For the most part these companies and their agents have come to focus their whole office around the VoicePad technology. The year’s RE/MAX International Owner of the Year even stated several times his office would not have survived the last 6 months without the sales resulting from VoicePad. In our defense, most of these companies didn’t have near the powerhouse of other technologies we have at RPE, as a result of Eric, and putting major focus on VoicePad was a no-brainer. Others in the group said since having the power of this new tool their agents had never lost to another agent when competing for a listing – 100% success!

These owners shared a multitude of powerful ideas and uses of the VoicePad system and I was so excited, yet depressed for not having thought of them, that I came back to the office rather than go to Churchill Downs with the group! We discussed these ideas with the staff and with Eric when he returned from out of town and will be sharing these with you soon. It is strongly suggested you go to Eric’s technology session when he covers these new ideas. In the meantime, we are creating some graphs, Powerpoint presentations and other tools to wow your buyers, sellers and more importantly, your prospective buyers and sellers.

The length of this article prevents me from passing on everything, but I will give you one important idea: When responding to a VoicePad call, your primary goal should be to get them to register with the system. You will be providing them with extra value and an extra level of service when they may be expecting a hard sell on the property itself. Registering people on VoicePad should also be a primary goal when holding open houses. Think how much time it will save them when driving by a listed home. They will be glad they found you and your chances of gaining them as a buyer, or even a seller are increased. Win/Win!

 

Dedicated to your success,

Harrell

Winning in Today’s Market

Today’s market presents challenges and opportunities for most agents in the business.  For experienced agents like you, it provides a unique opportunity to expand market share like never before!

 

RE/MAX Ultimate Agent is for agents who want to significantly boost production, generate higher quality, higher volume leads, and learn the secrets of the top producers.

 

Eight Weeks to Ultimate Success

 

Over eight short weeks, once a week, you’ll participate in fast-paced training sessions where you’ll learn:

 

·         How to turn good clients into great clients

·         How to build a dynamic network of business owners

·         Powerful dialogs for today’s market

·         How to increase your effectiveness and efficiency on a daily basis

 

The first session will be May 13 at one o’clock in the large conference room. 

 

Did you miss the three session Nancy Freeman training on Foreclosures, Short Sales and REOs?  We will repeat these classes starting May 18 in Suite 213. 

 

For more information on these and other training opportunities just give me a call at x 178.

 

Sailing through this market

Most REALTORS are in the same boat right now. Surrounded by rough seas and filled with uncertainty. Let me assure you that you are in the strongest and best boat of all! In the last few newsletters I have pointed out the overwhelming advantages you have with the multitude of tools, technology and staff you have at your disposal. Just this year we’ve added, fax to email, Homefeedback, and the new generation of VoicePad. Our web presence is by far the best there is, thanks to Eric, and we produce more additional leads for our agents than any other office. Amazingly each day an average of 800 individuals visit our website with a daily average of more 15,000 page views! Coupled with your expertise, experience, education and reputation, this office will continue to outsell every other office in Louisville. Year to date in 2008 the agents of RE/MAX Properties East have sold 44% more than the office in second place! As competition falls away and leaves the business there is an even brighter view for each of us on the horizon.

Having the strongest “boat” is terrific, but we must all remain aware that the seas are still rough and, for awhile, the headwinds may be strong. Sales have been slow but steady recently and I feel this will remain the case for several months and possibly until the Spring market unless the government does a lot more than they have been doing for housing. While other companies are reducing overhead by closing offices or reducing staff and services, I am totally committed and will continue to invest in you and your success. I pledge that I will put every resource I have, if needed, to do this. This cannot be done alone. We are in this together and I need your help. Here is what I ask of you.

1. That you maintain the proper attitude. Have positive thoughts and you will have positive results. If what you have to say can’t be said in a positive way…don’t say it! People listen to you, and what you say has more effect on others around you than you may ever know. Clients, agents, and staff in our office as well as others outside our office are affected.
2. Do something every day to improve your skills. No matter how good you are, you can and must be better. I have been somewhat indifferent on Buffini and other coaches and trainers, but having seen the 1 session of Buffini’s ULTIMATE AGENT, I tell you there is not one agent in this office that wouldn’t increase sales immediately by participating.

THE FUTURE: I am absolutely convinced that the agents of RE/MAX Properties East can look forward to a future of prosperity. The clueless overseers of our economy will eventually stumble into the correct combination to enable housing to again lead this country out of recession. However, many agents (even a few in our office) who refuse to adapt to changes in the market and the mindset of the consumers of our service (buyers and sellers) will struggle. There is a huge inventory of houses that must be sold to solve the problem and somebody will have to sell them. Without doubt, there will be huge demand for great agents. Mediocre agents will continue to complain and look for someone to blame as their business continues to plummet.

Our office will continue to upgrade and provide you leading edge tools, tech and environment regardless of financial conditions. This is the only way I will do business. More importantly, we will do anything and everything possible to identify and to keep you aware of the best path and what and when change is necessary. We will continue to provide training and opportunities to keep your skills current. If you feel that you are an expert and too smart or too successful to bother with this you will find your career in decline. I see this happening, to some, even now.

Louisville will continue to suffer less than other areas and will rebound quicker than most. The journey back to normal is much shorter here than in areas where housing prices went up 10, 20, 30, and even 40% a few years ago.

TIMELINE:

30 DAYS – Sales will remain slow to steady as they are now for agents who have been working hard and doing the right things and will become nonexistent for agents who do not.

Actions by the government will begin having an effect. Though we are still in the winter months sales will improve. If these actions by the government are focused on housing sales and are highly effective, sales could be strong.

90 DAYS+ Spring! In the absence of a major event or economic set back, I feel home sales will be very strong and exceed the spring markets of the past few years.

I am extremely optimistic in regard to the future, but it is always wise to prepare for the worst. The office is looking forward to a bright future, but we are prepared for the worst. You should do the same. In either case we must face it together and genuinely look after each other. If we do, our successes will be greater: if our future is to be bright, it will be even brighter, and if the worst happens it will be a calmer storm for each of us. I would again remind you “The strength of the pack is the wolf and the strength of the wolf is the pack”

I remain,

DEDICATED TO YOUR SUCCESS

 Harrell

Growing Your Business in a Slow Market

Anyone who has worked in the real estate business during a slowdown can attest there’s always demand for skilled real estate practitioners.  After all, people don’t stop buying and selling just because the market cools.

That doesn’t mean you can thrive by doing business the same way you were a year ago.  This is great time to sharpen your skills and reconnect with the consumer.

To stay on top of the game in a changing market considered these tips.

 

·         Focus on relationship-building. Work hard on developing customer relationships that will provide you with downstream business for years to come.  Real estate is as much of a relationship business today as it ever was.

·          Work your database.  Even if business slows don’t stop contacting prospects and past clients, either by snail mail or email.  Plan to make 12 contacts per year.  Follow up with a phone call.

·         Invest in marketing.  Reinvest 10 to 20 percent of your gross revenue on personal marketing that will get new clients and customers to come to you

·         Use technology to your advantage.  Don’t miss another tech session.  Take advantage of the tech tools and training offered at RPE.

·         Make sure the price is right.  Don’t add to the problem of oversupply and increased absorption rates.  Price listings at market value.

·         Welcome objections for what they are.  Don’t get mad at objections.  Instead recognize them as valuable market signals and become masterful at handling them in a relaxed, but serious way.

·         Strengthen your community ties.  Build your community involvement in a variety of ways: networking groups, charity events, volunteering.  The more you’re out there the more opportunities you create to reinforce your expertise as the local real estate expert, ask for business, get referrals.

·         Embrace continuing education.  Stay up to date on new technology, risk management, and hot marketing techniques.  RE/MAX University online educational opportunities are limitless.  Check out Kentucky approved CE class schedule at www.agenteducationservices.com.

·         Don’t just sit there!  Make it your mission to adapt to changes and be open to new ideas to grow your business.

Service + Added Value = Success

 

We are absolutely certain that increasing service and adding value is critical to the continued success of anyone in our industry.  We’ve been preaching this for years and we have and always will, “put our money where our mouth is.”  Most recently we’ve added value to you and your clients by providing:  Fax to email, Homefeedback.com, Home Shopping By Phone (VoicePad), Home Shopping From Home, and other items which enhance your opportunity for success.  We’ve even arranged for you to take many of your clients to Hurstbourne Country Club for lunch!

As you know we are always looking for new ways of providing “added value” for you, and in turn, for you to provide “added value” for your clients.  Consequently, I am always excited when we discover new ways to add value.  Obviously, the large role technology now plays in the real estate industry and the fast pace of change and innovations provide us many avenues to accomplish this.

Financing is one of these avenues.  We have been looking for ways to bring you and your clients value in this arena and utilizing technology creates a means for doing this.  One of the things we have been missing is a way for agents and clients to monitor the progress of the transaction and the loan process.

As agents, you always want to find the best service with the least hassle for your clients and, of course, the lowest fees and interest rate.  Doing so is one of the things many clients feel is part of what an agent is paid for.  A service oriented, knowledgeable and professional originator that interacts well with your clients is always a positive reflection on you.

In recent years banks and mortgage companies have aggressively tried to eliminate the agent as a first contact through effective mass marketing.  Banks are even trying to take it a step further by lobbying to change laws to allow them to be in the real estate business. Technology and the internet are also trying to become the first point of contact. We have been looking for a way to bring the agent back into the picture and provide clients with face to face “Above the Crowd Service” from lenders and originators who take a personal interest in the customer… and that will make you look good.

As strange as it may seem, we have discovered E-loan is, at present, at the top of our list.  E-loan has evolved from a non personal source on a screen, to a face to face, top of the line, lender with the technology we have been looking for as an enhancement.  As a result, we are in the process of negotiating an agreement with E-loan to provide additional services to RE/MAX Properties East agents and additional benefits to your clients that are not “smoke and mirrors.”  Obviously, I am very confident this is going to come together and very excited about it or you wouldn’t be seeing this in our newsletter. Nothing has been signed, but we are very close to working this out and will be seeking your input once some issues are resolved.

Whatever happens with this, keep in mind:  You should go back to the basics but also, you MUST find ways to continue to increase service and value for your clients. In today’s environment it is not a choice.

I remain, Dedicated to Your Success,  Harrell

 

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