Top 10 Tips for New Agents

Here are ten other things you can do when you are first starting your real estate career to be more successful:

1. Find the right managing broker.
Your first real estate company and broker can set the tone for your success or failure in real estate sales. Look for a managing broker that advocates sales, prospecting, technology and transaction training. You should feel comfortable with your new broker's professionalism, ethics, and time management skills. Expect your new broker to run an efficient, organized and real estate consumer-centric office.


2. Find the right real estate company to hang your license. Your new company is as important as your new broker. Is management agent-driven? Look for a strong market presence backed up by thorough penetration in newspapers, yard signs, direct mail, Internet and other media from your new company. A solid training department is a must if you want to acquire the skills to go to the next level in gross closed commission sales. Keep in mind that the costs your company incurs to provide you with an office, administrative staff and technology are high, and they are expecting a return on their investment when they welcome you aboard.


3. Create a business plan for your first year in real estate.
Your new business in real estate is a business within your new company. Don't expect to succeed in real estate sales if you don't have a solid, realistic business plan. Your mentor or managing broker, in addition to your local library business section, is good resource on how to develop a business plan.

Your plan should include the following areas: realistic sales goals, how you will prospect for clients as well as how will you reach these prospects through your marketing plan. How much of your financial resources will you spend on technology, marketing, and professional development?


4. Build yourself as a brand.
Choosing a company that has an established presence is a good foundation to build your own brand as an agent. Start marketing yourself to real estate consumers as a brand within your brokerage; consumers identify more with the agent than the brokerage they're affiliated with. Your agent brand is mobile and can move with you if you decide to change companies.

Develop a tag line such as "Rebecca Salesagent makes the market work for you". Train consumers when they think of real estate to think of you. Study a variety of consumer product marketing pieces, and pull elements that you want to test in your marketing plan. Look for ways to differentiate you from other agents. If everyone is farming, try niche marketing. Market yourself to other agents from around the country to send you referrals in your market. Market business-to-business to transaction participants such as attorney's, home inspectors and mortgage brokers for referrals.


5. Find a mentor that can fast track you beyond the basics.
Find a mentor in your new real estate office and fast! New agents spend a lot of time in the first few months in real estate learning the multiple listing service, the transaction process, office and industry jargon. But they don't learn how to negotiate, close a sale or prospect for new clients, because they're so busy learning all that non-revenue producing administrative procedures and protocol.

To get you up to speed fast find a mentor in your new real estate office that has similar professional habits and style as yours. Your mentor can focus you day-to-day on what's important to start those commission checks rolling in. Mentor's are great at telling you not to waste your time with a client that's eternally looking and not going to buy. Or to help you move forward with a stalled negotiation, your bad breath or body language that might be offensive to clients, or how to write a prospecting letter thanking those that came to the public open house you hosted this last weekend.


6. Love people and their personalities.
Having an appreciation of architecture, decorating or interior design won't be of much help with those emotional, stressed and volatile clients you will be working with. Real estate is about people and their personalities. Houses are just the vehicles for the personalities to interact. You have to truly like people and want to help them to achieve their goal of buying or selling real estate through the good, the bad and the ugly.

Out-goingness, reliability and even-temperedness are all traits of successful real estate agents. Consider role-playing difficult client personalities with your mentor to gain experience in dealing with the emotions that come with real estate transactions. Having prepared for these situations in advance, you will be able to show your clients that when they are strung out you are the voice of reason.


7. Work smart and use good time management skills.
After the fiftieth home you have shown your potential buyers, it's not about the homes anymore, it's about your clients. Learn how to qualify your clients from your mentor to save yourself time and energy that you could spend on clients that are ready, willing and able to go to contract. The sooner you learn to terminate nonproductive clients the easier it will become. Many agents dislike firing clients because of all the time they have invested with them. These same agents though are the first to announce they're self-release from the clients that were really just shoppers, abusive, or were working with multiple agents.

Real estate offices can offer many distractions to new agents. The constant parade of other agents, clients and administrative staff through the office can offer social interaction that eats up a lot of time. If you don't feel as focused or productive as you would like to be at your brokerage office consider spending part of your time at a home office. I have struck a balance between the two and the quiet, privacy and focus my home office offers clients and myself is attractive.


8. Use the Internet. It's changed how buyers start their purchase process.
It wasn't all that long ago that a buyer had to call agents to find out what properties were available to purchase. But as multiple listing services moved to the Internet and the public could access listing information. a dramatic shift started to occur in real estate brokerage. Instead of floor duty originating buyer leads calling on office listings, buyers started their home search on Websites such as Realtor.com before contacting a real estate agent. So how do you get in the path of these technology-savvy consumers? Have a Web presence on both your brokerage site and have you own real estate website.

Learn how to be technology proficient. Ask your mentor to teach you how to e-mail listings from your multiple listing service. If you are considering a computer purchase, a laptop will offer you the portability to take it out with buyers as well as on listing presentations. A digital camera is an efficient way to take listing photos and have them available in digital files to e-mail or use in marketing materials. New model cell phones with cameras can offer on-the-spot pictures of listings you see on office or brokers tour for your buyer clients. Virtual tours give home buying consumers an easy option to have a virtual showing from another city or locally 24/7.


9. Know all the details of the transaction process.
When you deliver your one of your first offers to a listing agent and she says to you that there are multiple offers on the property, this is not the time to learn about the strategies for multiple offers. Have your mentor or managing broker explain the transaction process, participants, documents, and disclosures. You need to know all the transaction terms from attorney review to walk-through. Ask about common wrinkles in transactions in your market and what you can do proactively to eliminate them.

Remember that your clients have only one focus and that's buying or selling a home. If you don't know something, don't improvise, find out and report back to your clients. Don't give legal, don't violate fair housing laws, but do celebrate after a successful closing!.


10. Keep your client pipeline pumping.
You'll find other agents at your office multitasking to the tenth degree, talking on the cell phone, landline, and e-mailing at the same time. They have four transactions going and all they do is manage them, they're too busy for open houses, prospecting or direct mail campaigns. Then suddenly they all close in the course of two weeks. The agent has now hit what I call "pipeline failure." It could be at the least thirty days before the agent finds a qualified buyer or seller, puts a contract together and goes to closing.

Transactions are exciting, but don't get distracted by the day-to-day management of them. You have to keep looking for new clients that will keep your pipeline going after your current transactions close.

Write this simple message and keep it in a prominent position in your work environment: Is my pipeline filled for the next six months? If you can answer yes every time you look at that question you will be a great success in real estate. BY Mark Nash

Rockwall County News

Tips for a Shifting Market

5 Ways to Dress Up Your Virtual Tours

New enhancements to virtual tours give potential buyers a real-life feel for a property while they're sitting at their computer.

Not that long ago, having a virtual gave your online listing "wow" value. Today, virtual tours have become a routine—and even expected—element of property marketing. But that doesn't mean your virtual tours have to be boring.

New advancements and add-ons are taking this tool to the next level, helping buyers get a better feel for the home and the neighborhood without having to leave their chairs.


The biggest virtual tour advancement over the past two years has been the growing popularity of video tours. Video is great for conveying the look and feel of a house, the flow from room to room, and the visual appeal of selling points.


Here are several other new tools, perhaps lesser known than video, that you can use to make your online tours more appealing and informative. Some of these are widely available, while others are exclusive features available only from certain vendors. In my opinion, all of them are underused—which means you have the chance, once again, to stand out from the crowd.


1. Show Off the Floor Plan. Other than actually walking around the home in person, interactive floor plans are the best way to give buyers a sense of how the home is laid out. Interactive floor plans typically display an illustrated map, and let users click on areas of the floor plan to see an image or video clip from that vantage point.

How you can add it: Many vendors offer this feature, including TourVista, Flyinside.com, VHT, MapsAlive, and floorplansonline.


2. Help Them See Improvements. Don't just ask them to "imagine" what new cabinets or flooring would look like. Show them. Prospective buyers can click on an image from the virtual tour and instantly change the wall colors, redo the countertops, add a new roof, and more. Then they can print out the results.

How you can add it: Obeo's StyleDesigner is an upgrade to its HomeSite virtual tour packages. You can virtually decorate the space and then send the image to clients, or e-mail the image to clients so they can do the decorating themselves.


3. Make Marvelous Maps. Most buyers are just as interested in the community as they are in the property itself. Map mash-ups are an effective way to present that information visually. Your MLS likely provides a basic mash-up map populated with landmarks linked to listing photos and information. But you can combine maps with other types of information, too: schools, recreation facilities, shopping centers, restaurants, and even commute times. For example, REALTOR.com’s “Find A Neighborhood” feature combines housing and demographic information with maps consumers can use to explore what’s available.

How you can add it: For an idea of how mash-ups are being used in real estate, check Google’s Maps Mania directory for real estate. Sophisticated as any of these mash-ups may seem, if you can drag and drop, cut and paste, you can create one. It’s just as easy to incorporate it into your Web site or add it to your tour. To learn how, start with Google or Mapbuilder.

4. Use More Pictures, Better Pictures. If you're looking for an easy enhancement, simply add more photos and using some tools to improve the presentation. A survey by Point2Technologies earlier this year found a direct correlation between the number of photos and the effectiveness of online tours. Also, consider adding photos of the view.

How you can add it: TourFactory’s ultimate tour package now gives you the option of viewing pictures in a standard or widescreen mode. JustSnooping.com offers a High Def Home Show package to showcase listings at the maximum image quality and resolution attainable on the Web. For exploring an area, Realtor.com’s HD City Views of select cities (see New York, for an example) demonstrate how far digital imaging has come in its ability to capture the details of a neighborhood in an inviting, interactive image. To improve photos taken of a city view, Imagemaker 360 has a unique feature to called VIEW Technology that restores clarity lost in backlit situations for a more realistic presentation of how the outside appears through the glass.

5. Go 3D. Microsoft has just announced its Photosynth stitching technology that takes two dimensional images and re-renders them in a navigable 3D image. They’re similar but not quite the same as IPIX immersive images. The big difference: you can create them from pictures taken with any digital camera and free software from Microsoft.


Do Your Listings a Favor

Everyone knows how important it is for buyers to be able to view homes on the Web. Yet, too few real estate professionals are rising to the task and offering top-notch virtual tours. Do your listings justice and impress your clients by investigating some of the extras I listed above. In a challenging market, the listings that are presented best on the Web are the ones that will get the most attention.

By Michael Antoniak | November 2008

Help Emotional Clients Keep their Cool

Panic, regret, frustration, fear. As real estate practitioners, we get to witness it all. Here's how to keep your clients' emotions (and your own) under control.
By Kelle Sparta | September 2008
Real estate would be the easiest profession in the world—if only we didn’t have to deal with clients!

I'm being facetious, of course. I really do love my clients, and the main reason I went into the real estate field is because I enjoy working with people.

But no one told me that being a real estate agent is often synonymous with being a therapist. I guess I should have known. After all, when helping people through a process as life-changing as buying and selling a home, you would expect emotions to come into play.

I never got training on how to deal with clients' high emotions, and you probably haven't either. That's why I want to share some tips that I've learned through experience.

1. Expect Emotions

The first step to handling emotions properly is to fully expect them from your clients. As real estate agents (especially those of us who focus on residential real estate), we deal with people during one of the most stressful times in their life.


2. Know the Triggers

Try to understand why your clients feel the way they do. There are a variety of reasons why clients could get upset, frustrated, and overwhelmed during a real estate transaction. Here are some triggers:

Things are happening differently than they expected.
Feeling like they don't have control over the process.
Not fully understanding the process.
Not feeling respected (by spouse or real estate practitioner).
Too many options from which to choose.
Afraid to make commitment to buy a home.
Panic about making the wrong decision/ not being able to find home in tight timeframe.
Not finding the "perfect" home they had envisioned.
Financial worries.
Lack of trust in real estate practitioner/mortgage broker/home inspector, etc.


As you can see, it's a long list. And this is just the tip of the iceberg. Before meeting with clients, prepare yourself by anticipating their concerns and coming up with solutions.


3. Make sure their expectations are in line.


We can never eliminate all of the emotional responses that clients will have, and some clients will be more emotional than others. But there are actions we can take as their real estate agent to keep things on a more even keel. Perhaps the most important thing you can do is to make sure their expectations are realistic. Did they expect to find their dream home in three weeks, and it's already taken two months? Did they expect to find a great deal, only to discover homes in their favorite neighborhood are still too expensive? Did they expect more buyers to show up at their open house? During your initial conversations with clients, help them understand that they might have to make compromises. Ask them what their expectations are and help bring them closer to reality using market statistics, your knowledge of the community, and your personal experiences. This is your job, after all, and you are the expert.


4. Help them remain in control.

It's so unsettling to feel like a situation has spiraled out of your control, especially when it's something as important as purchasing or selling a home. Good communication can ensure this doesn't happen. Make sure your clients know what is going on every step of the way. At each phase of the process, clearly explain what they can expect, and what is expected of them. Keep them in the loop with phone calls, e-mails, or transaction management software (of course, be sure you're using their preferred method of communication).


5. R-E-S-P-E-C-T.

Aretha Franklin had it right when she said “All I need is a little respect.” Imagine that all of your clients are singing that song to you everyday. Respect that your clients do not understand real estate jargon or even the most basic details of a standard transaction. In most cases, this is new to them. When we are feeling a little burned out, or dealing with demanding clients, it’s even easier to fail to treat our clients with all of the respect they deserve. If you find yourself in this position, take a step back, take a day off, and take some time to breathe before you speak to your clients again.


6. Don't overwhelm them.

It’s easy for our clients to get overwhelmed. There are so many details to worry about! And so many decisions to make! This is especially true for buyers. With over 100 houses in any given price range in most areas, and buyers thinking they need to see every house before they can purchase, it’s easy to see how things can start crashing in on them. As agents, it’s our job to help them get back in control. The cure for overwhelm is to get people out of the big picture and bring them in to working on a single piece of the puzzle at a time. Help them focus their search, and remind them of the progress that they've made.


7. Make a 'Don't Panic' rule.

Oddly, panic is the easiest to handle of all the emotional triggers. Start by programming your clients not to panic in the beginning of the transaction before anything has happened. Here's a strategy I use with first-time buyers: I tell them “You’re not allowed to panic until I tell you it’s time. I promise I will tell you when it’s time, but until then you’re not allowed, OK?” This gives them a chance to laugh and they always agree. By setting this rule up front, we accomplish two goals— We’re telling them that we're in control and have everything handled, which builds trust; and we’re giving ourselves something to refer back to that will break the cycle later when they start panicking. What do I mean by this? By setting up the Don’t Panic rule at the start of the transaction, you can, when a person begins to panic, ask them “What’s the rule?” This causes them to stop thinking about whatever it is that they’re panicking about and start trying to remember what the rule was. When it looks like they have changed their focus sufficiently, you can remind them that the rule was that they weren’t allowed panic until you told them to. This gives them a chance to laugh at themselves while still breaking the cycle of panic.


8. Give them a reason to trust you.

When a client decides to hire you, they’ve decided to trust you. You’ve already put their trust in place, but you have to maintain it. If you follow the rules above, you are 90 percent on the way to keeping your clients happy. The other 10 percent is simply this: Keep your word; don’t promise what you can’t deliver.


Don't take It personally, yet take responsibility.

Nothing can protect you from all emotional outbursts. Some clients are dealing with issues they have not shared with us but which cause them to behave emotionally. Some need more attention than others. The best we can do is to have compassion and to stay grounded, centered, and calm in the face of whatever they may throw at us. When emotions do fly, don't take it personal, because rarely it is personal (even if it seems like it is). When anything goes wrong in a transaction, we are the easiest person to blame because we are there. But don't try to pass the blame. Just as you hate it when a server at a restaurant blames the kitchen for poor service, clients don't want to hear excuses. Make it your job to keep the transaction running as smoothly as possible and prepare clients for delays from lenders, sellers, inspectors, appraisers, and other third parties. Your open communication with these third parties is required for smooth dealings.


10. When you need a break, take it!

Bad days will happen. Clients will get mad. Emotions will fly. But on the flip side, you will see some wonderful emotions too. Buying a home often evokes tears of happiness and pride. Remember to cherish the good days and not feel too hurt about the bad days. You have your own emotions too, and dealing with intense transactions can be draining. It's important to take a break once in a while to recharge your batteries and get motivated for the next transaction. You have to take care of yourself first, or you will have nothing left to offer your clients.

Article courtesy of Kelle Sparta is the author ofThe Consultative Real Estate Agent: Building Relationships that Create Loyal Clients, Get More Referrals, and Increase Your Sales(AMACOM, 2005). She is also the founder of Sparta Success Systems , a real estate training companywww.spartasuccess.com

6 Key Facts About the First Time Buyer Tax Credit

The tax credit may be enough of an incentive for potential buyers to jump off the fence. That is, if they know about it.
By Robert Freedman | November 2008
The $7,500 home ownership tax credit that the federal government created earlier this year as part of the Housing and Economic Recovery Act (H.R. 3221) is another tool at your disposal to encourage potential buyers to jump off the fence and get into the real estate market.

When you combine the tax credit with today’s low interest rates, wide selection of for-sale inventory, and affordable home prices, many of the pieces are in place for your customers to buy now. But tax credits can be confusing. To help your clients understand how the credit works and why it would help them, you must learn the details.

Here are 6 things you should be able to explain to prospects and clients:

1. Buyers have until July 2009 to make a purchase that qualifies.

The tax credit was passed in July of this year as part of the Housing and Economic Recovery Act (H.R. 3221). It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009, so if your customers wait to buy in the first half of 2009 they can take the credit on their 2009 tax return. Taxpayers can take the credit on their 2008 tax return if they bought their house this year after April 9.


2. Buyers don't really have to be "first-timers."

The tax credit is actually available to any individual or household that hasn’t owned a home for at least three years. And the NATIONAL ASSOCIATION OF REALTORS® has asked Congress to expand the credit to all buyers, not just those who haven't owned a primary residence in recent years.


3. Even if buyers exceed the income limit, they can benefit from the credit.

The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500. Sounds like a great deal. But what if your clients make more money than the income limit of $75,000 for individuals and $150,000 for households? Good news: Individuals whose income exceeds the $75,000 limit but don't make more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000. By the way, any house is eligible as long as it’s a primary residence and is in the United States.


4. Think of it as an interest-free loan.

The federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years, although repayment will be no more than $500 yearly and payments will not start until 2011. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable. NAR is pushing congress to remove the repayment provision, making this tax credit a true tax credit rather than an interest-free loan.


5. You don't have to be authorized before making a home purchase.

There is no pre-purchase authorization, application, or other approval process. Eligible buyers simply have to claim the credit on their IRS Form 1040 tax return and/or any form that the IRS might devise.


6. New-home construction qualifies.

For a home that a buyer constructs, the purchase date is the first date the buyer occupies the home.However, any home that is not a primary residence, such as a vacation home or income property, does not qualify.


NAR Asking Congress to Expand Credit

As mentioned above, NAR has asked Congress to do away with the repayment provision of the first-time buyer tax credit and expand the credit to all home buyers, not just first-timers. The proposals were part of a four-point housing stimulus plan the association submitted in mid-October.

“Housing has always lifted the economy out of downturns, and it is imperative to get the housing market moving forward as quickly as possible,” said NAR President Richard F. Gaylord. “It is vital to the economy that Congress take specific actions to boost the confidence of potential homebuyers in the housing market and make it easier for qualified buyers to get safe and affordable mortgage loans.

Article courtesy of Realtor Magazine

Do's and Dont's of Pricing

Pricing can be a sticky issue in a challenging market. These take-away tips from experts will make it easier for you to work with sellers on setting a realistic price tag.

Setting the right price is the key to turning a listing into a timely sale, especially in today's tough market. REALTOR® Magazine has published information over the years on how to work with sellers to reach a price that works. Here's a collection of the best tips from experts we've consulted.


Do your homework before the listing appointment.

Perform a competitive market analysis to present to sellers. This compilation of market data shows what homes similar to the prospective listing have sold for and how long those sales took. It's absolutely vital for educating sellers about pricing and days on market. Your CMA should feature a snapshot of several similar homes on the market, the average price per square foot of each, pending and recently closed transactions in the area, and days on market to close a sale



Don't forget to check out home-valuation sites.

Your sellers have probably visited Web sites like Zillow.com to see what their home is worth. Is the information at those sites accurate? Maybe, maybe not. But one thing is for certain: You need to know what those Web sites say about your listing before you arrive at the appointment. If the value stated on the Web site is not correct, you need to be prepared to explain to sellers how the Web site works and where the numbers are coming from.


Do consider the sellers’ urgency.

If sellers must move in 30 days because of a job transfer, snagging the highest price may not be a top priority. A lower price may help move the house more quickly. When speaking with sellers, find out how important it is for the home to sell quickly.



Do weigh the home’s condition.

If floors are scuffed and the place is cluttered, explain that a stale, worn look will negatively affect pricing and the ability to sell. “Somehow you have to dig up the nerve to tell them that buyers will expect a coat of fresh paint and new carpeting. If they won’t update, I have to consider that in the pricing of the house,” comments Judy McCutchin, RE/MAX Preston Road North, Dallas.



Don't be derogatory.

Be sure to point out pluses and minuses of the home’s location and condition compared to other homes that sold—and didn’t sell—recently. But do it in a polite, professional manner. Sellers are often sensitive to comments made about their home. That's why it's always important to compliment the home in some way, too.



Do use MLS illustrations to show the risks.

Show examples from the MLS of overpriced listings. Illustrate the number of times the price was reduced and how long it ended up taking to sell the house. Look for listings—initially overpriced—that eventually sold for less than their worth. Expired listings also serve as an effective reality check, particularly in areas with long days-on-market stats. Provide information on expired listings to remind sellers that if they’re not realistic about pricing, they could end up on that list.



Don't be wishy washy.

When you get to the pricing discussion, it's imperative to be professional and firm. Carol Royse, a sales associate at Keller Williams Realty East Valley in Tempe, Ariz., uses the following dialogue: “I know you told me you think your house is worth $500,000. With your permission, I’m going to show you some data to help us determine an accurate price for your home.” She then goes through each comp, asking for the sellers’ agreement every third or fourth home: “This house is two blocks over with your same floor plan, and it recently closed for $405,000. Do you see that house?” What if sellers claim their house is nicer? “I’ll say, ‘I understand your house has some nice upgrades. However, that house had similar upgrades. I’m going to mark this as a star comp, very similar to your house within the last 30 days.' If I’ve done my job well, they’ll ask what I think their home should be priced at, and I’ll give them my number.”


Do agree with sellers on a price-reduction plan.

If you agree to an unrealistic price, you’ll know within a couple weeks. Get sellers to agree to a price reduction plan upfront. For example, tell them that after a set period—two weeks or so—if you aren’t getting traffic and offers, it's time to revisit the pricing issue.



Don't hesitate to walk away if sellers are unrealistic.

If sellers are adamant about going with a price you know is too high, walk away. Says author and trainer Ralph Roberts, Ralph Roberts Real Estate, Warren, Mich.; “I’d rather turn down the listing than disappoint you by not being able to sell the house for what I think is an unrealistic price.”

You're unique...is your brand?

According to the Keller Center Research Report, a relevant and clear brand image will build your brand equity.

“A brand that is recalled quickly and easily when needed, one that individuals are willing to pay a premium price to acquire, and a brand that is recommended to others. These are all characteristics of a high equity brand.”

Tips on being first in consumer’s minds:

Research what consumers want
Become your local market expert
Use a unique flair
Have clear and consistent signage, logos, slogans and team names

Click here to read " What is Brand Equity and What Does the Branding Concept Mean to You?"

Stumped about the ever-shifting market?

Get proactive about providing perspective

If it seems that your clients and prospects are getting more and more confused - if not frightened - with a new round of negative economic analyses and headlines every day, the key is to step up as your local market economist and remind them that we have been this way before.

Donna Harmatuk, agent and operating principal with the New Bern, N.C., market center did just that recently, with a letter that she forwarded to her entire farm. Her message may be welcomed by your clients as well.


Hello Neighbors!

Wow, when they called today’s real estate market a "shifting market," they were right on target. It keeps shifting, and shifting, and shifting ... Every time we turn on the news there’s a new development that affects our economy and therefore the ability of buyers to "buy" and the sellers to "sell."

SHIFT, the most recent book by Gary Keller, co-founder and Chairman of Keller Williams Realty Inc., begins with the following paragraph: "The Real Estate Market has shifted drastically and dramatically. Sales volume and the number of transactions have dropped significantly. Inventory has reached an all-time high. Buyers have never been more reluctant. Fear is rampant, anxiety is high, and people are getting out of the business left and right. Sounds familiar? Sure it does. The year was 1979!"

Does it make us feel better to know that this has happened before? What did we learn from it in 1979? Fast forward to 1987 and it happened again. Changing tax laws this time had a disastrous affect again. Well guess what? History repeats itself. Now we are faced with this again, in 2008 but this time there are real differences.

In 1979 mortgage interest rates topped 18 percent. Last week buyers were still getting approved at under 6 percent through local lenders. That is a huge difference! Today’s sellers, with the help of their real estate agents, are becoming realistic with today’s pricing, bringing our market back on track.

The real estate business is "cyclical." An experienced real estate agent and a mortgage broker will understand this and be prepared to give counsel that is in tune with the current market. Remember though, the news you heard last week is "old news," so stay in touch with your local, trusted real estate agent for updates on this ever changing market.

We are participating in seminars, conference calls, webinars, and many other training events to stay on top of the game to better assist you.

Real estate remains your single most valuable asset if handled correctly.

Your real estate consultant,

[Your Name]

Be one of the proactive agents that goes after the business. Don't wait for it to come to you. We have a lot of training on how to have a thriving business in a shifting market. We would love to have you attend any of our classes this month. Click on the calendar button on the side menu or give me a call today at 972-772-7000.

Amber

Selling Strategies of Top Female Agents

During a recent study, the Keller Center for Research Report took a close look at top-producing women in real estate to determine the selling strategies that they shared. Among the key recommendations that emerged from the report are:

Stretch your mind

Go to industry seminars and conferences.

Read leadership books and industry newsletters. Make use of your drive and exercise time by listening to CDs and audio downloads.

Power network

Network everywhere you go and create opportunities to network at business events, charity functions, church, children’s sporting events and meetings with allied resources.

Listen for common points of interest.

Stay in touch via the phone, email, coffee or lunch.

Prove yourself

Build your credibility with expertise and results.

Build your self-confidence with a strong support system and positive self-talk.

Actively listen and focus your comments on solutions.
Put on your game face

Exude confidence and expertise through your demeanor and body language.

I would agree with this list. It is an ongoing process and using these strategies doesn't make you successful overnight. It's all about consistency and follow up.

Is there anything missing from this list that you do that seems to be working for you that you would like to share? Go tot the comment button below, I would love to hear from you.

Amber

FHA Loan Updates

I mentioned earlier that many of the changes to FHA would be clearer in the near future and some of those changes are being presented now.
Here is what we have so far:

The base loan amount will be 96.5% of the sales price (as long as the house appraises for at least the sales price).
The closing costs/prepaids up to 6% of the sales price can be rolled into the price, appraisal permitting.
Any buyer paid closing costs will not be applied to reach the 3.5% down payment threshold….If buyer is paying closing costs they will be in addition to the 3.5% down payment.
I will continue to keep you updated!


tricia

Handbook For Survival In Tough Times

Rave Reviews: SHIFT touted as a “handbook for survival”
REAL Trends and RISMedia.com weigh in on SHIFT

As SHIFT continues to make waves throughout the real estate industry, interest among notable media outlets continues to grow.



The August Issue of REAL Trends reviewed SHIFT, highlighting three tactics: "Get Real, Get Right;" "Re-Margin Your Business;" and "Do More with Less." In the article, REAL Trends states that the book is useful for "all real estate professionals at any level," and that it "covers significant ground" focusing on the real estate business as well as new markets such as short sales. The article goes on to say that SHIFT is "a realistic look into the future of residential brokerage and sales management from someone who has lived through such times before. We highly recommend it as a well-written and organized handbook for survival."

SHIFT was also featured on the front page of RISMedia.com in an article entitled "New Book Empowers Real Estate Agents with Proven Tactics for Success in Tough Times." To read the full article, click here.

Advanced Tips For Real Estate Agents During Slow Times

.
It no longer takes just a license and knowledge of current laws and regulations to become a successful real estate agent. Considering the condition of the current market experiencing a downturn, we can’t be sure it’s even hit bottom yet.
The good new is, people are still buying houses and they always will. Hard work will be needed to get the job done. A Savvy Real Estate Agent can compete in the current housing climate by locating buyers and focusing on giving them what they want. Here are some advanced sales tips for generating a profitable year.

Conduct buyer seminars. Offer to give informational (and free!) classes at our office or at your local civic or religious center, updating people on the current market conditions. You can teach them how to buy a house even if they’ve been turned down before, and give advice or referrals on how to repair credit. This will not only position you as an expert in the field, is also gives you access to a fertile, pre-qualified group of potential buyers.

Solicit apartment complexes and tenant-occupied properties. While this may seem fairly obvious, it’s important that you have marketing materials targeted to this audience (e.g., showing them how and what they can own for the same payments as their rent) and a strategic approach to contacting these potential home owners.

Buddy up with title companies. Often they’ll have deals that fell apart, and many of those deals were attempted without a Real Estate Agent involved. Gaining access to that list will yield names of interested motivated buyers and sellers.

Solicit FSBOs. FSBOs are very often newbie’s in the real estate game and aren’t really sure what they need to provide potential buyers who come to look at their house. Offer FSBOs helpful documents, such as floor plans, sell sheets, etc., in return for prospects that didn’t like the FSBO’s house for whatever reason. And the FSBO may eventually call you to give you their listing, if they get frustrated by long sell times, as is prevalent in this market.

Talk to agents going out of business. According the National Association of Realtors (NAR), there are more than 2 million registered real estate agents. And the NAR also estimates that between 40-80% of new Real Estate Agents quit the business before their first anniversary, and 90% by year three. Despite their struggles, many of those have built a list of interested buyers that would be worth adding to your database.

Establish your own website. Face it: it’s the 21st century. Most people do some of their research on major purchases online, and a Website that displays your personality, not to mention your listings, is a necessity. It’s easy and inexpensive to get started and is simply a must.

Market your previous clients. This is another seemingly obvious tip that all too many Real Estate Agents overlook. Your past clients are your most fertile ground for referrals (and repeat sales) but can only do that if they remember your name! Sending a regular newsletter updating part clients on your latest success will remind them what being a Real Estate Agent is all about and let them know you are still making your clients happy.

Partner with a reputable mortgage brokers. Mortgage brokers lately have had their requirements tightened by their lending partners, and probably have said “no” more times than in the past few months than in the two or three prior years. Partnering with a reputable mortgage broker can offer a win-win situation. In return for access to the list of turn-downs, you offer them help in a monitored credit repair situation, who then become buyers who may possibly qualify for a loan from that same mortgage broker.

By focusing on how to find buyers and in some instances, how to help buyers help themselves a Real Estate Agent can have a prosperous year even in a down market.
*Source: Mind, Body & Sales for the Real Estate Professional

Junk Mail and FREE Reports!

Isn't it anoying when you go to your mailbox at work and its full of junk mail? I have to admit, I throw most of the stuff away but there is value in som e of it. For instance, Realtor magazine has a lot of good articles. They also have a great websites with so many resources. So don't throw it away, it has great articles for you and your clients.



One of the things that consumers love is FREE reports. Realtor magazine is full of good reports. Here are a few that they offer:

FREE Reports for Buyers:

Get Ready for Homeownership
1. 10 Ways to Prepare for Homeownership
2. 5 Common First-Time Home Buyer Mistakes
3. Why You Should Work With a REALTOR®
4. Questions to Ask When Choosing a REALTOR®
5. 7 Reasons to Own Your Home
6. Tax Benefits of Homeownership
7. Take the Stress Out of Homebuying

FREE reports for Sellers:

Before You Sell

1. Does Moving Up Make Sense?
2. 8 Reasons Why You Should Work With a REALTOR®
3. 12 Questions to Ask When Choosing Your REALTOR®
4. 5 Things to do Before Putting Your Home on the Market
5. Understand Agency Relationships
6. What is Appraised Value?

If you would like to get print outs of any of these reports, CLICK HERE.

Have fun!

Amber

Mega Agent Itinerary

It's here! Are you looking for a way to boost your career? As you have read in my previous blog posts, Mega Agent Camp is sure to educate and inspire! Below you will find the itinerary and you can also visit the Mega Agent Website HERE.

Mega Agent Camp Agenda published:

New REO and Short Sales focus added to Monday's agenda!

At Mega Camp 2008, Gary Keller will take the stage and delve into his latest book, SHIFT: How Top Agents Tackle Tough Times. Take a look at the full agenda below:

Monday: A Day Inside Shift!


SHIFT - Overview and business: Gary Keller speaks candidly about how top real estate agents tackle tough times, followed by a panel of top agents sharing strategies that you can apply to your own business immediately.

SHIFT - Lead Generation and Conversion: Gary Keller drills down into the realities of the current market and speaks to the tactics of lead generation and lead conversion. An agent panel, personally selected by Gary, will reveal the lead generation and conversion strategies that work in today’s market.

Interview with Gilbert Tuhabonye: More than 8,000 miles from his home in Burundi, Gilbert Tuhabonye tells his inspiring story as a celebrity in the world of running.

SHIFT - Buyers: Gary Keller presents the compelling facts about buyers in this market and then a panel of opportunity-driven agents will provide insight into how they have made a buyers' market an opportunity market.

SHIFT - Mastering the Market: Once again, Gary Keller and a panel of top agents will compel you to become the master of your market and the agent of choice for buyers and sellers.


Tuesday:Ready ... Set ... Dial ...: Interviews with top performers on overcoming call reluctance.

Role Plays - FSBOs and Expireds: Learn through live role plays.

Interview with Mark Zupan: A living testimony to overcoming obstacles, Mark Zupan’s competitiveness at quadriplegic rugby brought him national attention as one of the stars of the Oscar-nominated documentary "Murderball", the story of his team’s performance in the 2002 Paralympics.
Interview with Larry Carlton: Larry Carlton, guitarist and composer of the theme to the hit series, "Hill Street Blues", was faced with a choice: go solo or continue in a less risky, more lucrative career as a session guitarist for prominent musicians. Fortunately he chose the former and has recorded under his own name since 1978.

Role Plays - Ad Calls and Past Clients: Watch and learn through live role plays.

Mo Anderson: For the first time at Mega Camp, Anderson will address the unique culture that sustains Keller Williams Realty.

To find our more about Mega Camp, call Amber Boyd at 972-772-7000!

Shifting Real Estate Market?

SHIFTS happen! The question is, what are you going to do about it?



When markets shift, your strategies have to shift along with them. Those who change their thinking, focus, and actions, are the ones who get results — and get ahead of the competition.

SHIFT: How Top Real Estate Agents Tackle Tough Times comes from the writing team that brought you The Millionaire Real Estate Agent and The Millionaire Real Estate Investor. Slated for release at Mega Camp on Aug. 25, 2008, SHIFT explores proven strategies for achieving success in any real estate market.

Be one of the first to get your copy at Mega Camp and get ready to SHIFT your career into high gear!

Call me today at 972,772,7000.

Mega Camp 2008!

What is Mega Camp?

Mega Camp is the exclusive event where top producers and Keller Williams Realty leaders converge
for an extraordinary week of learning and networking.
Here, you will discover the newest tools and answers to your business challenges presented by fast-moving mastermind panels, top guest speakers and real estate industry leaders, including Gary Keller, co-founder and chairman of the board of Keller Williams Realty International and a New York Times bestselling author.

The week begins with the Mega Agent Camp, the conference for top producing real estate professionals, on Monday and Tuesday, August 25 and 26. This is followed by Mega Leadership Camp, a forum for Keller Williams’ company leadership, on Tuesday and Wednesday, August 26 and 27. Mega Technology Camp, the power seminar on leveraging technology, takes place on Wednesday, August 27.

To find our more about this amazing event, call Amber at 972.772.7055 or

email at amberboyd@kw.com!

Don't miss out!

Different By Design

At Keller Williams Realty, we like to think we stand out from other real estate firms in many ways, but these areas in particular define Keller Williams Realty as an industry innovator and leader: Culture, Education, Profit Share and Technology.

We are a company built and shaped by talented, driven real estate professionals who know the value of having a great career, accomplished colleagues, work-life balance and a reputation for being the best in the business.

We focus on helping associates realize their fullest potential. You will find opportunities for growth, support for achieving your objectives and a true sense of family and belonging.

Your success is our goal.... Make today the day you begin the next fulfilling chapter in your life and career.

KW Cares-Caring Associates Responding to Emergencies

What is KW Cares?

KW Cares is a tax exempt 501(c)(3) public charity created to support Keller Williams Realty associates and their families faced with extreme hardship as a result of a sudden emergency. Hardship is defined as a difficult circumstance that a person or family cannot handle without outside help.

This charity is the heart of the Keller Williams Realty culture in action – finding and serving the higher purpose of business through charitable giving in the communities where our agents live and work.

KW Cares was the brainchild of the agents of Keller Williams Realty and Mo Anderson, CEO of Keller Williams Realty International, took this dream and brought it to fruition. Today it is supported by all KW associates.

KW Cares supports our associates in times of national and personal crisis. KW Cares also benefits other charities that are aligned with the mission and values of Keller Williams Realty and KW Cares.

To find out more, go to their website by clicking HERE.

KW to Launch a Commercial Division!

News Room
Keller Williams® Realty Announces Plans for Commercial Division

Buddy Norman joins the company as division president

AUSTIN, TEXAS (July 16, 2008) —Keller Williams Realty, Inc., the fourth largest real estate company in North America, announced plans to launch a Keller Williams Realty Commercial Division this fall.

“Our goal is to expand our platform and make Keller Williams Realty the real estate company of choice in both the residential and commercial worlds by providing our associates the technology, marketing tools, and resources to succeed in the commercial business,” said Mark Willis, CEO of Keller Williams Realty. “We want to create synergy and referrals between the residential and commercial sides of our Keller Williams offices, increasing the income and production potential of all our agents.”

To read the whole article, Click here.

Technology That Sets Us Apart

Online and Onward

Recognizing technology's powerful potential, Keller Williams associates created eAgentC™ — the Electronic Agent Consortium, an agent-focused technology group. The research, training and tools eAgentC provides let agents fully leverage technology in their businesses.

A few of our most recent innovations include:

Agent Websites – we provide every Keller Williams associate with his or her own agent website template that is easy to setup, customize, and use to capture leads.

ProManage – we partner with Top Producer to provide an exclusive contact management system that executes The Millionaire Real Estate Agent’s lead generation principles.

KWLS – we maintain our own Keller Williams Listing System (KWLS) which automatically send your listings to online marketing vehicles such as Trulia.com, Google, and many more! Your clients will appreciate knowing that you advertise their homes nationally using the power of real estate listing aggregators.

My Listings, My Leads – Any lead generated from a Keller Williams listing – including those that come from KW.com – is routed back to the listing agent. Would you expect anything less? You've earned the right to list your clients' property, so in our book, you've earned the right to all the leads. We bring this philosophy to every technology solution we build.

Watch this video to find out how your listings stay your leads!

People Who Care

A lot of companies say they function as a family. At Keller Williams Realty, we truly do and this approach guides us every day in how we conduct our business.

We support one another in achieving goals and celebrate the accomplishment of milestones. We treat each other with respect and integrity. We challenge ourselves and our colleagues in a productive, meaningful way. We encourage growth and self-discovery, and have fun in the process. And we lend a hand whenever it is needed.

What Makes Keller Williams Different From Other Companies?

Founded in 1983, Keller Williams Realty Inc. is an international real estate company with more than 600 offices located across the United States and Canada. The company began franchising in 1991, and following years of phenomenal growth and success, became the fourth-largest U.S. residential real estate firm in North America in 2006. The company has succeeded by treating its associates as partners and shares its knowledge, policy control and company profits on a system-wide basis.


Structured for Success

The interdependent business model of Keller Williams Realty supports agents and brokers working as a team to maximize personal productivity and company profits.

Most real estate companies operate on a dependent model where the broker provides leads to salespeople and then offers them a commission, or they operate on an independent model where agents receive minimal support from the broker but keep more of the commission. In contrast to these traditional models, the Keller Williams model fosters a synergistic environment where both parties succeed through teamwork, by encouraging agents and brokers to share their best practices with each other and reward associates who help the company to grow. It is these industry-changing philosophies that have fueled the recent growth of Keller Williams Realty past older, more established companies to claim a top-four spot in the real estate industry.

Share the Light!

Our Philosophy at Keller Williams:

Our Mission:

To build careers worth having, businesses worth owning and lives worth living.


Our Vision:

To be the real estate company of choice for a new generation of sales associates and real estate owners.


Our Values:

God, Family, then Business


Our Belief System:

Win-Win
Or no deal

Integrity
Do the right thing

Customers
Always come first

Commitment
In all things

Communication
Seek first to understand

Creativity
Ideas before results

Teamwork
Together everyone achieves more

Trust
Starts with honesty

Success
Results through people

The Keller Williams atmosphere and culture is amazing!

Check out this video and see for yourself: