Realty World Wichita

Who is minding your OPEN HOUSE?

Administrator — Sun, 21 Dec 2008 20:35:04 +0000

Interesting phone call yesterday….

I have a builder I’ve worked with for 10 years. We’ve marketed most of his homes, but sometimes a new area comes along that another Realtor has the marketing rights via an agreements with the developer.

My builder friend was pretty unhappy. He was working on his 2 gold course homes, and a teenager with shorts and tee-shirt and 2 girlfriends came along, unlocking his house. Questioning them, he learned this was the son of the onsite agent. He was opening them for the day, and showing the homes all afternoon.

WOW, my builder is angry. Model homes cost a lot, and he want’s pro’s selling them. He’ll be talking to the developer Monday morning.

This does give me cause to consider tho,

I have in the past had my 20 year old daughter “host” model homes. I think I had her host properly tho. She was a college student, dressed for the job, and spent a week with the onsite agent before she was cut loose on her own. And being unlicensed, she could only “Host”, not talk price, call me if anything substantial needed discussed.

So, should my builder be angry? Did I do this right? Any out there use young assistants?

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Realty World Alliance in Wichita - company cell system

Administrator — Sun, 21 Dec 2008 20:33:33 +0000

Company Phone system? (edit/delete)

I’m looking at getting Cell phones for my agents. Seems that Alltel is cutting the best deals I can find for them. I’m guessing that’s because Alltel is about to merge with Verizon. Phone I’m looking at getting for them?

the HTC Touch Pro. Looks like this will do EVERYTHING I’d like my agents to have. Text, Email, Word, Excel, lots more.

Alltel lets you hook this up to your laptop (tether) for highspeed wireless modem.

So, I’m thinking as a company we have the contract, and charge the agents every month. Pretty much like they already do, but buying as a company get’s disocunts, cheaper equipment.

I’m wondering if any other brokers have similar programs. Successful or failed. I’m a little bugged by the limb I’m climbing out on, but I guess I’m on the hook for them in lots of ways (dues, liability, more).

any thoughts?

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Award from my agents….

Administrator — Sun, 21 Dec 2008 20:32:16 +0000

I’m Humbled…

I go to work every day, and I think I have one purpose. Serve my agents, and make their lives easier and more productive. Most days I think I do alright, other days I think I’m not quite up to par.

There are times in our lives that reach into your soul, and give a man purpose, meaning, thankfulness. Birth of your children; Marriage; Seeing the beauty of God’s creations (whales, mountains, oceans, etc).

I just received such a moment. My agents (whom I have the priviledge to serve) think I do a pretty good job. I now have a foot tall crystal award that proclaims I’ve received the “Awesome Broker Award”. I’m to add the letters ABA after my name.

Wow. Nearly speechless (not quite, I guess I’m writing this), certainly choked up. Mostly, I know that few times in my life have I been recognized for my service to others, and to have my entire company tell me that I’m doing a good job for them. Quite an honor. Quite a moment. Just hope I keep earning their respect, day in and day out….

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My worst customer, Part 1

Administrator — Sun, 27 Jul 2008 19:57:55 +0000

No names will be mentioned!!

1.5 years in Real Estate, and I get my first referral - the referral company gets 35%, but I’m glad to pay it for the biz.

Air Force guy, moving to town. Took him and his wife around, and they found a new home to build. Next day, we write an offer. House is just past framing, and I take the buyers to the carpet place, tile, cabinets, paint lighting and appliances. All in one afternoon. Closing in 2 months.

Buyer leaves town, and I call on them about once a week. I leave messages mostly, about how their home is coming, what’s been installed, etc.

Now, to give them updates, I’m walking in their home as it’s being built. About once a week. This is really before digital photos, or email. Cell phones were “Bricks”, and I used pay phones a lot. The sellers agent keeps telling me she’s not worked with another agent who comes onsite so often. I must be young and stupid I guess, but I thought that’s what you’re supposed to do.

Walk thru’s, scheduling, contract amendments. They are out of town. I think they came here twice during construction to inspect. I’ve done it all for them.

Closing day - they need to close on Saturday, can’t be here during the week. I get a closer (and the builder too) to close Saturday morning. Buyer shows up, and we sit in closing for 3 hours. Buyer is doing an 85-15 loan (2 loans, one for 85%, and one for 15%) - and like an engineer, reads every word of every document in each loan.

I can handle all this, and I’m not critisizing the reading (tho by the second loan, you would think some of the docs would be the same?) - BUT, after closing, I thank them, and hope they are pleased. Wife looks at me and says I did a bad job, after all, I missed that the wrong vinyl was laid in the bathroom. She won’t reccomend me to anyone.

Geez. I spent hours here, and I would think the floor company would be the ones to blame for the flooring mix up. Wish I could remember their floor choice. I was destroyed. I thought (and had been told) that I was working way too hard for this client.

I got paid, one of my first “Big” closing checks. Sometimes tho, I’d rather have gratitude….

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What is a Virtual Tour worth?

Administrator — Sun, 27 Jul 2008 19:56:39 +0000

Fact is, I have no idea what they’re worth, and neither do you.

We don’t know, because on 21-23% of the listings in the MLS have virtual tours (according to my study anyway). And those that have tours, some of the photos are SO bad, you can’t really tell much about the home.

With gas close to $4.00 a gallon (more in some places), shouldn’t we eliminate homes that are GROSSLY wrong for a buyer?

WHAT? you say? Not show a buyer a home based on the computer? We already do that. Right number of bedrooms, footage, garage, location. We do it every day.

Pictures are different tho, right?

I don’t think so. We can tell (or should be able to tell) what a home will feel like based on 2D photos. We can get space feeling, decorations, yard condition, home condition, lots more.

OK, you say they are expensive. You can’t afford them. Look again, RealEstateShows.com is $125 a year unlimited shows (lees if your Broker buys it). RealTourVision is $10 a show forever. Visual Tours are $30 per month unlimited.

No time? How long do you need to take pics while listing a home. And MAYBE, if you’re that busy, you should hire it done. Cause gas aint’ getting cheaper for a while.

I say VT’s will save you money. I say VT’s are a service we should provide our FELLOW REALTORS. I say VT’s save our sellers time, frustration, wear and tear. I say if you are not using this tool you are so far behind the curve, it may be time to leave the profession.

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Good Real Estate market, bad mortgage times

Administrator — Mon, 14 Jul 2008 01:21:29 +0000

MSN announced just last week that a study by Sperling’s Best places said Wichita Kansas is the best place to own a home in the US. Good employment, low average cost of home, good appreciation.

#1 in the US, I think Dallas was 4th or 5th. We should be riding high here. Normal DOM, inventory being absorbed at a reasonable rate. Easy for Realtors

EXCEPT: Can’t borrow money to buy a home. It seems that the really Bad markets (California, Vegas, Florida, Detroit) have so hurt our lenders that NORMAL people in the midwest can’t borrow money.

IndyMac went under Friday. The Feds took it over and put into recievership. Stock for Fannie Mae and Freddie Mac went into the crapper. I read today (Sunday) that the Feds are moving (on a weekend no less) to keep Freddie and Fannie up and running. The MSNBC article says they want to see the stock come up on Monday.

The article further states that the Feds aren’t likely to help any other lenders. The signals are they will help Freddie and Fannie, and let the rest figure out their own problems.

So, when you have a stable market (are others out there in a good market), but the lenders can’t loan, what do you do?

We know that Real Estate should be a very local issue - location, location, location. But it seems some speculators and some issues elsewhere can change the game all over.

Hope oil speculators don’t do the same for gas….

My Website works REALLY well - Sorta!!

Administrator — Mon, 14 Jul 2008 01:19:26 +0000

I’ve done things well. Page 1 on Google for 12 terms or so. Lots of traffic, and 9% capture of email. Set them up on a drip, and 50% or so open the drips.

I have new listings sent to buyers. Works well, and lots of them open the email with listings. All good right? We should be rolling in the leads…

SO:

Last week a competing Realtor called me. His client had found one of “my” homes on the internet, and he was a little lost. Could I tell him how to get to the home? Could I set up a showing? He had the client in the car with him.

I told him it wasn’t our listing, I could find no record of it. He told me it had to be, his client had printed out the page, had our phone number on it, and the “Listing”. OK, I asked him if he knew what IDX was. Nope. This guy doesn’t have a site. Of course, the listing wasn’t ours. A 3rd company.

Should be the end, BUT, since he had his client right there, he asked if I could look up the number for the other company, so he could call them. I did. I’m nice.

Makes me wonder tho, am I just giving out free info? Will my company be rewarded for my hard work on our site?

Good Web site Good Web site

Spurling’s names Wichita #1

Administrator — Mon, 14 Jul 2008 01:17:43 +0000

The cities to pick from had to have a population of at least 500,000. The idea was to compare where it was the BEST place to OWN or to Rent. Wichita won the top spot. Consider:

Pretty good numbers (appreciation is GREAT for most parts of the country). Compared to #2’s appreciation:

We’ve stayed steady for 20+ years in Wichita, and I don’t see it changing much.

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The Housing crisis is over

Administrator — Mon, 26 May 2008 16:19:54 +0000

Article in the Wichita Eagle on Saturday discussed how Home Values had risen 2.59% over the last year. I had a problem with this quote:

(the Realtor quoted)“credited a concerted effort from the local housing industry to control new and existing inventories” is the reason our homes were still appreciating.

How did the industry do that? Appraisers finding higher prices for homes? Realtors convincing clients to sell for more? Builders raising prices on new homes to raise profit? Suppliers raising prices to builders for more profit (not to cover gasoline prices…)? Local bankers lowering interest rates so loans are more affordable (without regards to National Rates)?

My opinion is we’ve had a steady market in Wichita for some time. I think the national trends (seen below) indicate that we’ve reached bottom, and the mortgage industry has made housing affordable again because of monthly payments.

Quick study I did this morning shows me that 51% of WAAR agents closed more dollars worth of homes in the last 12 months than they did in the previous 12 months, and on average they sold the same number of homes during the same 24 month period per year.* Active Realtors are still selling homes about the same numbers, and for a little more money. We’re getting more money because the public is willing to pay more. Pretty simple stuff.

The Wallstreet Jounal ran a Great Article by:

By CYRIL MOULLE-BERTEAUX
May 6, 2008; Page A23

Titled: “The Housing Crisis is Over”. I suggest everyone read it. I won’t put the article here (since I don’t have permission….), but an brief excerpt:

“So what’s going to stop the housing decline? Very simply, the same thing that caused the bust: affordability. The boom made housing unaffordable for many American families, especially first-time home buyers. During the 1990s and early 2000s, it took 19% of average monthly income to service a conforming mortgage on the average home purchased. By 2005 and 2006, it was absorbing 25% of monthly income. For first time buyers, it went from 29% of income to 37%.”

I’ll say 2 things here - 1st, this article made more sense to me than anything else I’ve heard about the housing industry history.

2nd - Do Realtors REALLY believe we control the market?

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The front four, make your client feel lucky

Administrator — Fri, 23 May 2008 00:30:47 +0000

I was reminded recently of the late 80’s when I worked for a man I admire, George Wayman. George owned an auto repair shop and a gas station. Big places. Full service gas, 12 mechanics, parts supply, and more. George was worth a pretty good amount of money, and employed around 50 people or so. And George had a rule. Always keep the front four open. He meant the front four parking spaces - the ones by the front door. Seemed simple, people pulled up, ran in the door. We’d move their car for them so the next person could park by the front door. People felt good.

Look at this psychology. We all feel lucky when we find a parking spot close. Sometimes we even joke that someone saved a spot for me. Fact is, George was saving a spot for everyone who came to the shop. The front four. Getting your car worked on was no fun, so George made sure everyone started off feeling lucky. Same when they picked up their car. We used the front four. Nothing complicated, some work to run accross the lot. And George ALWAYS helped. He asked nothing that he wouldn’t do.

Realtors, so you make your clients feel this important? Do they feel lucky as you work hard for them? We need to think about where we park at the office or at an open house. Leave the easy way for the clients. Let them feel lucky. Set up searches in the MLS for new listings. Show your buyers listing the day after they become available. Let them feel lucky.

How many times has a listing client called you to tell you about the new listing on the block. What if you called them first? Every morning, check your MLS for new listings around current listings. Send an email flyer to the client before he calls you. Call your client when interest rates jump up or down.

Little things. Simple systems that make your client feel lucky. They say you make your own luck with hard work. Maybe we should be making our clients luck with our work. Let’s give em the front four…

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