**TOP PRODUCER PANEL**
Peter Knapp’s Comments
Subscribe to the 4 P’s
- Reminding yourself “why”
- Why are you in the business? Providing for family
- The idea of “you signed up for it”
- Available 24/7
- It’s your job so do you best
- Embracing the profession
- Be responsive
- Separating yourself from the transaction
- Don’t be emotional – Be honest
- Separate yourself from the transaction – Don’t take personally
- Creating quality of life
- Servant mentality
- serve all the time
- Outworking people – some people are smarter but no one will outwork me
- And common sense
- Each transaction, you are working for more than one sale
- By servicing everyone they will refer you.
- Every client is the only client
- Have people say – I thought I was the only client you were helping
- Do Charity events as client events
- Address previous hurdles with clients in initial interview to minimize problems down the road
**Tom Connor’s comments
Peter’s list was on target – he didn’t miss a beat!
It is important to block time off.
Spend majority of time on lead generation – Most Agents don’t do this.
Manage Team like a business – presentations, systems, and processes are important.
Website built with lead generation – on Back office – Real Pro Systems
Discuss business and an Agent’s productivity with buyers and sellers so they understand how hard you work and what your results are versus the “standard/average” agent.
Develop online biz but understand it is hard – lots of rejection – must be persistent
Read Book “Work for a Reason”
John Rumcik – ‘RUM’ –No Team – leverage company events with sphere to show you are involved in the community and give back to charities.
- Hard work has no substitute
- Work 100% by referral
- BNI is great – members & clients are referring because of high level of service
- Tons of referrals
- Work outside the box
- Don’t say “no” if it’s legal & ethical – yes, I will try for you is the right answer
- Advertise on Craigslist to help military for free on rentals and your email will blow up.
- Nothing is below me
- BPOs and rentals pay RE/MAX expenses – no deal is to small or beneath me to provide my clients
- BPOs help with knowing valuations
- Sell clients for the future
What are your motivations and how do you stay accountable?
Rum – Motivated by money
- Has business plan
- Has goals
Peter – Meets with Scott
- His “why” of why he’s in the business
Tom – Incoming bills – money
- Drive from within: either you have it or you don’t.
Just a few more thoughts…
Do the little things and they will eventually add up to something big – rentals, BPOs, etc.
This job is mental →
Never be satisfied with success – always strive for more.
And we had the market update…
Foreclosure Sales in Q1 = 158,434 – Altogether, third parties purchased a total of 158,434 bank-owned and short sale homes during the first three months of this year. That’s down 16% from the previous quarter’s total and down 36% from the first quarter of 2010.
…REOs that sold in the first quarter had been repossessed by the bank an average of 176 days prior to the sale…
…Sales of bank-owned homes and those in some stage of foreclosure accounted for 28 percent of all U.S. residential sales in the first quarter of 2011 – in our area is was 30%, the highest percentage since the first quarter of 2010.”
…California and Arizona, foreclosure sales accounted for 45% of all residential home sales during the first quarter – in Vegas it was 53%.
…Residential home prices slipped 2.5% during the first quarter of this year when compared to the previous quarter…Our area sales prices are up 5.84% – an 8.24% difference. We are lucky to be where we are today in regards to home sales and pricing!
Foreclosures Continue to Take Toll on Pricing…only 20% of the 1.2 million homes in some stage of foreclosure have hit the markets – how is this going to affect prices? In addition, over 4,000,000 are behind/in default on their mortgages.
From Realtor.org – Today’s REALTOR: older and more experienced
Sales agents report $25k median net income in 2010. How much did you or your Realtor earn last year? Experience=money – you better ask!
The typical REALTOR of today is older and has more experience than the typical REALTOR on year ago, according to the national Association of REALTORS’ 2011 Member Profile. The average age is 56.
NAR had 1.01 million members.
Only 12% of REALTORS under 40, half are between 40 and 59, and 38% are age 60 or older. Only 6% of REALTORS said real estate was their first career. By comparison, homebuyers had a median age of 39 in 2010. Get in tune with your buyers!
8% did not complete a single transaction in 2010, down from 12% in both 2009 and 2008. I believe this number is very suspect…
Real estate was the sole occupation for 75% of REALTORS…
New-home sales see monthly rise in April
Sales of new, single-family homes saw a monthly rise in April, the U.S. Census Bureau and Department of Housing and Urban Development reported today.
New Home Sales increased an estimated 7.3% in April compared with March and it is 29.2% above the rate in February, when such sales hit an all-time low.
The median sales price of a new homes rose 4.6% year-over-year in April, to $217,900. Builder’s homes are priced right that is why they are selling and they are seeing price increase.
Rates fall for sixth straight week – what a great time to buy! Rates are down and prices are up. Time to get in now before both are too far out of reach!
Last May versus this May – week 4
Active homes for sale 7,428 7,516
Month’s supply of u/c 2.1 2.1
Settlements last 30 days 3162 2598
Month’s supply of solds last 30 2.3 2.9
Percent of market that is distress inventory 15.2
We are in a very similar situation to last May – pretty crazy! As usual, we had a great training that shared a lot of information. Be sure to see video footage at www.youtube.com/scottmacdonald5 to hear more! Get it? Got it? Good!
Now, go sell something!