How to Shift Your Business to Listings

Provided By blog.kw.com

The past five years have been all about the buyer. In response to that demand, both new and veteran agents made the most of the moment, setting up thriving buyer teams as well as processes and systems.

Today agents face a new opportunity: another overnight shift; this time in favor of sellers. For agents like Craig Reger and Josh Anderson moving from a busy buyer-based business to capitalize on the hot seller market meant letting go, restructuring their team and adapting to new market conditions.

Lesson 1: If you start with buyers, the first step toward successfully launching into listings is to hire talent to run the show for you.

In the early days of his business, Reger, who is an associate with the Sunset Corridor (Ore.) market center, faced an all-too-common challenge: the business had gotten too big for one person. He was spending six to eight hours on the road with buyers each day and then returning to the office to handle paperwork and prospecting. “I love when my buyers find the property they want, but I knew there was a better way to spend my time than showing 19, 20, even 50 homes day in a day out.”

When he announced that he would be hiring a showing assistant, his administrative assistant willingly stepped up. Over the next year, the business exploded and the duo went from servicing 25 buyers to an average of 50 to 60 buyers. Two years later, Reger promoted his showing assistant to lead buyer agent, which immediately opened him up to  launch the seller side of his real estate business.

Lesson 2: Get comfortable prospecting, get creative with your marketing and most of all, work your database.

Anderson – an associate with the Nashville/Green Hills (Tenn.) market center – hired his first buyer agent in February 2011 (after an AHA moment at Mega Camp in Austin, Texas); to help him maintain the 100 buyer transactions he was averaging each year. He later rounded out the team with a showing assistant so that he could focus on his listing strategy: work the database, get on the phone and leverage successful marketing.

“We communicated with our database in a consistent and systematic way, making sure to take good notes on each person’s unique situation to determine where they are in the buying or selling cycle and who they know who might need our help,” Anderson explains.

Anderson’s second method for generating leads is less complicated, though it’s possibly the most powerful tool in his tool belt. “You probably won’t be surprised to know that I’m on the phone from 8:30 to 11:30 a.m. making cold calls. It’s making a huge difference. “Calling and saying ‘Do you know anybody who wants to buy or sell?’ is the biggest thing that agents don’t do. You have to get on the phone and ask for the business.”

Of all the methods Anderson and his team are employing to generate listing leads, the most unique is how he is using his buyer side as a marketing tool. Within a couple of weeks of a buyer’s closing, his team holds a housewarming party in honor of their new home. This does two things. First, it allows the buyers to show off the home to friends, while Anderson and his team meet prospective clients and learn about the buyer’s immediate circle of contacts. Secondly, each person who RSVPs to attend the closing is put into their database to receive a follow-up contact from the team. Throughout the year, Anderson also hosts parties and sports outings, which are usually sponsored by vendors. So far, the listing side of Anderson’s team is doing well. In fact, he’s even hired a listing specialist to meet the team’s goal of 300 transactions and $75 million in revenue.

Six Reasons Seller Listings Will Make You More Money

Provided By blog.kw.com

While leads are vital to your sales business, seller listings are critical to your ability to build it to its highest level with the lowest costs and highest net. Top producing real estate agents grasp the incredible advantages of making obtaining and marketing seller listings their primary-lead generation focus and they do so almost exclusively. Here are six reasons why you should concentrate your energy on the high-return, high-leverage business of listings.

1. Seller listings mean marketing opportunities.

- You get to put a sign in the front yard (and maybe directional signage as well).
- You get to market the listings through direct mail and email.
- You have more control over your time.

2. Sellers don’t always have the do-it-right-now urgency that buyers demand, so you should be able to control your scheduling.

3. Seller listings maximize your per-hour compensation. It usually takes a lot less time to obtain and market a listing prior to its selling than it takes to show for and sell to a buyer.

4. Volume, volume, volume. A highly focused, highly leveraged real estate agent can work 15 to 25 seller listings per month. And keep it up. The same agent would be hard-pressed to work seven or eight buyers per month and continue to do so over a long period of time.

A highly focused, highly leveraged real estate agent can work 15 to 25 seller listings per month. And keep it up. The same agent would be hard-pressed to work seven or eight buyers per month and continue to do so over a long period of time.

5. With seller listings you are on the frontend of pricing, which translates to an intimate knowledge of the market.

6. Properly marketed seller listings bring you more business. Because of the multiple marketing opportunities that are part of the listings process, on average, one well-marketed listing will generate one serious buyer who buys. So, if you focus on obtaining and marketing seller listings, you should be able to get all the buyers you need. It’s the real estate industry’s version of the “twofer.”

Here We Go: Building Booming and Home Prices Rising

Provided By: Realty Times

In the first quarter of 2013 our economy grew by 2.5 percent. While some were disappointed with that figure because it fell short of the consensus estimate of 3.0 percent, it's still a sign of better times, according to Corelogic.com.


The company recently released "The MarketPulse" which highlighted the following: economic recovery is benefitting from residential investment, "census division of price declines in the housing collapse varied dramatically by depth and duration, and the census divisions with the largest declines have the fastest current recoveries."

There are four census divisions in the United States. These geographical regions contain two or three census divisions for a total of nine. How these areas were impacted and how they are recovering depends on various factors such as the development of new housing.
Build it and they will come. The new housing industry is growing stronger and helping boost the Gross Domestic Product (GDP). Homebuyers seeking new homes are encouraging this growth.
At the lowest point, new home sales dropped to 273,000 annualized sales in February 2011, marking the lowest sales rate in almost 50 years. The highest peak reached 1.4 million annualized sales in July 2005 and today it's increasing 19 percent from a year ago, according to the U.S. Census Bureau data from March 2013.

Meanwhile, residential home prices are continuing to rise. However, the increase in home prices isn't uniform across the country. Instead, the recovery is geographically confined to areas that are "either recovering from the boom-bust cycle, or exhibiting strong economic fundamentals and strengthening demographic demand," according to Corelogic.

The increase in housing prices is also happening in areas where building is booming.
New housing competes with foreclosures and short sales. These latter two groups are now experiencing a decline, making new housing a good solution for some buyers.

Mortgages categorized as seriously delinquent (90 days or more past due) peaked nationally at 3.7 million in January 2010. The figure has recently dropped by 33 percent to 1.2 million.
Corelogic reported that there were 55,000 completed foreclosures through March 2013, which is a decrease of 16 percent compared with the number of the same period last year.

Meanwhile, the summer sizzle season is arriving soon and analysts expect another possible increase in sales and prices which could encourage more sellers to list their homes for sale
If you're interested in buying, here are a few tips. Act now. Start putting your finances in order so you know what you can actually afford to purchase. Delaying this could mean the loss of your favorite home to a better prepared borrower.
Meet with experts to get the best information and advice about the real estate market you're interested in. While real estate information is available on line from anywhere in the world, prices vary greatly depending on the local market. Your best bet is to find an expert in the area you're interested in to assist you with your questions and guide you through your search.

Remember that many sellers are still in a recovery mode. They may just now be adjusting to no longer having their home mortgage "under water". So, when you find a home you're interested in, act quickly to engage negotiation about the final sales price.

Also, keep in mind that the housing inventory is likely to increase as housing prices continue to rise. However, many experts predict the shortage of existing homes for sale is likely to remain a problem throughout the rest of 2013.

God Made a Realtor

Provided By Brian Weast & Associates

8 smart moves for buying a foreclosure

Provided By: interest.com

The days of scooping up foreclosed homes at a discount of 20% or more appear to be coming to an end across much of the United Sates.

That’s good news overall, because it's a sign the U.S. housing market finally is getting back on its feet after five terrible years. More demand is boosting prices.
But it also means would-be buyers need to be careful they’re making a smart choice if they bid on a repossessed home.

A recent study by Zillow, the real estate website, found that when equivalent home listings are compared, the discount for foreclosed homes has fallen to about 7%.

"With for-sale inventory tight in most markets right now … and demand slowly increasing, it wouldn't be surprising to see the foreclosure discount decrease even more," Stan Humphries, Zillow’s chief economist, says in a release.

That’s a big change.

Nearly 13 million foreclosures have been filed since the housing market collapsed in 2007, according to the website RealtyTrac. Initially, the glut of foreclosures meant they could often be had significantly below market value.

No more. If you’re shopping foreclosed homes in most places today, you’ll probably have to pay closer to regular market price. That puts a premium on doing the job properly.

Green Living: Making it Last

Provided By: Realty Times

We live in a disposable society. The products that fill our daily lives are used and discarded. This habitual "use and lose" puts a dent in not only our pocketbooks, but also in the environment.

According to Cleanair.org, every year Americans throw away enough paper and plastic cups, forks, and spoons to circle the equator 300 times. Yes, 300 times. This is just the tip of the trash iceberg. Parents all across the nation gird the loins of their joyful little cherubs with disposable diapers.  Cleanair notes, "Disposable diapers are the third largest single consumer item in landfills, and represent about 4% of solid waste. In a house with a child in diapers, disposables make up 50% of household waste." In addition, these diapers take hundreds of years to decompose and cost thousands of dollars to use. Plus, the oil used to produce those dandy disposables is more oil than used during the lifetime use of your car! The EPA reports that in 2010, American generated about 250 million tons of trash, with just a 34.1 percent recycling rate. What is being tossed that could be repurposed, reused, or revisioned? Learning to reduce, reuse, and recycle is a great way to cut down on household expenses, something that many homeowners are searching out.  There's a honorable movement spreading across the nation bent on saving money and preserving the environment.   The new book Make it Last: Prolonging and Preserving What We Love bridges the gap between life in a disposable culture and the basic skills needed to save money and live more sustainably. This book teaches the reader how to extend the lives of the things they love by repairing clothing, preserving home-grown food, and even repairing your kitchen sink. Raleigh Briggs takes her longtime commitment to community building through the DIY movement and shares her valuable experience with the reader through a conversational tone in her hand drawn and illustrated guide. "People are starting to realize not only that they can do this stuff, but that it's fun and fulfilling to boot." says Briggs. "Whenever you think about the choices you're making, you're doing a good thing."Verbicide Magazine described it as "a Gideon Bible-like manual that should be heavily circulated to people who are just scraping by in life. Her pragmatic approach to taking back your home is what makes this book so appealing." Save money while saving the planet. That's some noble work!

Turn Tax Hindsight into Financial Foresight

Provided By: realtytimes.com

So, how’s that income tax "make over" going?

A few short weeks ago, you were among the millions moaning "If only I’d…" and agonizing about how much they owed in income tax. Were you also caught up in the last-minute-filing scramble?

Tax time hits us in the face with financial reality.

For too many of us, tax time represents the only time each year we take a close look at our finances. Unfortunately, this is usually on the fly when there’s no time for fixes and forecasts; however,savvy Americans decide it is time to do things differently . They make achievable resolutions to improve their financial health. It’s what happens after the filing deadline that really matters.What have you learned from filing your tax return? Did Uncle Sam get your money while you ended up with debts and dissatisfaction? Do you want to repeat this outcome in April 2014, or take a financial step forward? It’s your choice.The secret to keeping more of what you earn is not a secret. In fact, those who paved the road to financial literacy and financial security have left deep ruts for others to follow. Yes, it can be a bumpy ride, because you are letting go of some expensive bad habits, but the experience can be empowering. Financial improvement takes longer to achieve than one weekend since you are replacing ingrained ineffective habits and biases with a new way of thinking and acting when it comes to money, but results are evident very quickly.Starting points abound, and they all begin with you.The first step does not involve heading to the net via a popular search engine, because the first step is you observing you. You watching what triggers your spending, and alternatively what makes you think twice before you pull out credit cards or click on "BUY NOW" buttons. Record every dollar you spend for at least a week, and you’ll begin to see patterns. Do this for longer, and you’ll reveal relatively easy opportunities to save money and not spend it. Once you know where your weakness lies, assess your advantages. Start simple. Act on what you learn.

• Perhaps you’ve read a financial book or two, or know someone who has.
• Your workplace may offer financial education programs.
• Friends and family have had good and bad experiences to save you repeating mistakes. They can also refer you to professionals who have proven their value.
• Realtytimes.com hosts a wide range of articles, including those in this column Decisions & Communities, that can start you thinking differently about real estate buying, financing, and investing.

Back to turning tax hindsight into financial foresight…Here’s three big reasons to spend time on foresight and making financial progress:

1. What’s your point in working to earn money?If you have no goals beyond the next paycheck, money will slip through your fingers. We support goals that involve property ownership and investing in real estate. What matters to you? It’s easier to work toward something you really want. Divide a big goal like owning your home or paying off your mortgage into manageable projects. Make them small enough that you are aware you’re making progress. Be realistic. Start with a goal you can achieve this week. Then a bigger one for the month of May and on you’ll go. Doing something has a huge advantage over doing nothing, or wishing you had in hindsight.
   
2. Talk to those who know more than you doFrom the day after tax deadline, most accountants and financial advisors have time to talk to prospective clients like you. Discover where tax savings lie and how you can start on the path to financial security. Come to the conversation prepared to clearly and specifically explain your situation. Details matter. If you’re vague or unprepared, how can the professional provide specific, relevant information to get you started?
   
3. Get organizedWhat do you know about your financial strengths and weaknesses? Exactly how much cash do you have in your wallet right now?
   What is the current balance of your principal debit account?
   Exactly what is the outstanding balance of your two highest-interest debts?
   Exactly how much income have you earned this month?
   How much have you saved so far?

How many of these questions can you answer right now? Do you understand the role your financial habits play in the reality behind your answers? If you are unaware of your financial status, how can you create strategies to get you from where you are today to where you want to be?Start by getting your paper and electronic financial records in order. Set up a simple system for recording receipts each week, or at least filing receipts by category, so they can be easily totalled. Set a budget so you know where the money you earn should go every day, week, month…to move you ahead.The forced belt-tightening of the recession has made some aware of where every penny goes, but what will happen once they no longer feel under pressure to manage their money? How will your post-recession financial habits be different from those during the boom that got us all in trouble.Tax time taught you something about you and the way you put the money you earn to work. Act on that insight, and next tax time, you’ll see progress. Ignore that lesson, and hindsight becomes your financial pattern. Where will that lead you?

Published: April 30, 2013