go to http://www.smdrablog.com and give me your thoughts on today’s post

Quick tip on building your business

This morning, while speaking to a friend in the business, he said he had just placed a million dollar property under contract this week.  When I asked him how he found this buyer or how the buyer found him he explained.  “The buyer walked into an open house I was holding about 11 years ago.  We hit it off immediately and the friendship has endured all this time.  I kept in great contact with his family and him.  I never pressured him to buy or sell but when the time was right for him I was there to be his trusted advisor”

I really ejoyed this story and think there is much to be learned.  Do open houses work? Yes!  Do the building of relationships work? Yes!  Does being trusted and not pushy work? Yes

To me this was a great example of how to build a a premier real estate buiness that lasts and lasts?

“When your outgo exceeds your income, your upkeep will be your downfall!” -Jim Rohn

How can REALTORS influence the market?

I wonder if the attitude of REALTORS influences the perception of the public or if the public is influencing the REALTOR?  When we are out showing properties I wonder if it is the buyer who is asking to see short sales or if the REALTOR is suggesting short sales as bargains? The question is, when is a bargain not a bargain?  The answer is simple, when it doesn’t close the buyer doesn’t get the house, the buyer misses the tax credits, looses the deductible interest and looses the pride of home ownership. I am concerned that those losses are exactly what buyers are headed to as the tax credit time is coming to an end soon.  Sometimes I think that buyers aren’t being presented or even looking at a great value house in the neighborhood if it isn’t a short sale.  So I ask, did the buyer get a great house at a great price if they didn’t end up getting anything?  I think not.  would it influence that market if we sold better properties rather than distressed properties?  I think so, what do you think?

interesting local information can be found at http://www.crimereports.com

RTD Director Kent Bagely said that only 20% of the budget comes from fares. The rest is sales tax subsidized

SMDRA is hosting Littleton Councilman Phil Cernanac’s town hall meeting today

What are consumers looking for?

Today’s homebuyers and sellers have long since transcended the need for locating information. In that regard the Internet changed that paradigm. What they however do still want, and need, is assistance and guidance from a trusted real estate professional.

 Consider the following responses from the California Association of Realtors^® Survey of California Home Buyers, which explored what buyers are asking for:

 · A better understanding of the direction of the market;

· An improvement in the agent’s negotiation skill; 82% were dissatisfied;

· More assistance in the mortgage approval process;

· A good understanding of purchasing distressed properties;

· A faster response time from the agent.

So, even though consumers have all the information, 54% of them still think the information they gathered on the Internet was less useful than that provided by their real estate agent.

At the same time, the housing market dynamics have shifted from prior years when conditions were more favorable for sellers to conditions now that have buyers realizing the increasing power they have over the home-buying process. As a result, it is critical for agents to clearly understand the buyers’ expectations and deliver accordingly, and that comes with a price.

The market and consumer knowledge/expectation are commanding more and more of the real estate agent’s time and as a result, the business-as-usual approach has, for the most part, become obsolete. Consumers have a good idea of what they want – trust, confidence, transparency, interpretation of information and additional services (mortgage, home warranty, inspection, etc.), all of which takes time.

The Value of Designations

 REALTORS® who pursue professional designations have a distinct competitive edge as a result of their increased expertise and marketability. Based on 2009 survey data, the median income of REALTORS® without a designation was $28,400 and the median income of those with at least one designation was $57,700.  The difference between the two is $27,300.

Mark you calendars now for April 10 and 11 for N.A.R’s National Open house. I will provide more information soon