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Tips for a smoother settlement!

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We had our regularly scheduled training on Friday to discuss the Northern Virginia Real  Estate market and have Champion Title discuss worst case scenarios for closing and even a few other disasters to be aware of in today’s sales environment.  As is the case in any sales situation, it is your job as a professional to manage your client’s expectations of what is going to happen at the walk-through and closing.  Here are a few tips!

Tips for a Smoother Settlement

  1. Try not to Close on last day of the month
  2. Know the difference between a home inspection item and a walk-through, and know what it means to be in normal working order?  This is extremely important when discussing age appropriate items.
  3. Disclose fees/additional costs upfront (e.g., admin fees, FHA/VA fees),Initial  all changes to the original sales contract (“meeting of the minds “), initials/signatures on all pages on the contract – do your damn job!
  4. Work with service providers you know and trust, its all about the team being in place with all the changes going on with RESPA and the mortgage market.
  5. Confirm closing cost credits with the lender prior to ratification of your contract so there are no last minute surprises.
  6. Make sure termite inspection has been ordered and conducted. If treatment was necessary, make sure all parties are aware of treatment prior to closing
  7. Keep utilities on through the settlement date
  8. Contact the settlement company if you know you have any walk-through issues and conduct your walk-through the day BEFORE closing – not minutes before.
  9. Avoid escrowing funds  if possible, lenders are tougher on this issue of allowing escrows
  10. Bring certified funds to the table or wire money prior to closing
  11. Know your client (e.g. reader, needs a POA, etc.) and what they will expect to happen at closing.
  12. Read the REO contract and know its details.
  13. Read the short sale approval letter, know and understand its terms
  14. Have sellers keep hazard insurance in place until a few days after closing

 

 

Now, you can’t prepare for every situation and we haven’t experienced everything we are going to experience but here are some recent situations that arose at settlements:

Dealing with the Unknowns

  1. Unexpected liens – IRS, HOA, etc. – are filed against the property.
  2. Bankruptcy – will not kill the deal but will take time because trustee must release the property and this can and will take time.  Find out the seller’s situation in advance.
  3. More than 1 ratified contract – be smart, know your listings and only ratify one contract.
  4. Improper foreclosure – people added to title after settlement with no knowledge of bank, then property forecloses, proper notification or no notification  was not given to person added to title – bank must re-foreclose and this is a lengthy process.
  5. Unilateral default – not closing because…

 

As always we discussed what our agents are finding out in the marketplace today when working with both buyers and sellers.  Here are some comments on the conditions of our current market:

There is no inventory out there and houses are selling fast.

There are multiple contracts on a lot of listings throughout the area.  Price points that are in the low $200’s are where we are seeing the most activity…

Some buyers are not aggressive enough on their first few offers and therefore are losing contracts.

Pricing is critical for listing prices – do not price a little high as there continue to be appraisal issues.

Agents are writing backup contracts on under contract properties – even foreclosure and regular sales.

An agent recently read that 70% of first offer short sale contracts fall out as buyers lose patience waiting on the process.  It is a good idea to write back up contracts on short sales today.

We continue to have appraisal problems as there are not enough comparable sales for appraisers to utilize in their appraisal therefore they are claiming market is declining.  One agent had an appraisal come in $100,000 low – they made buyers change lenders and verify qualifications of the new appraisal with the second appraiser.  It is imperative to do your homework, know the market and present this to the appraisers.

Ethics are slipping with agents – keeping listings off market (coming soon) then selling them before they go on the market.  The lack of returned phone calls, promptly responding to offers, etc. are the issues we continue to experience.  And what is really scary is contracts and earnest money checks are being deposit after VREB regulations and even closing!  Agents need to stay on top of their game or get out!

Rates continue to be great – we expected them to increase and they did for a short time but they have come back down – we are still below 5%.

You have heard it before – the more you learn, the more you earn so come to training!  Get it?  Got it?  Good!

Now, go sell something!

 

 

 

 

 

 

How do we determine the price?

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I recently posted a blog on Tips for Securing an Accurate Appraisal.  It brought to mind the different aspects of pricing in real estate.  It is one of the most important aspects when buying or selling a home in any market.  Keep in mind, in Northern Virginia, there are always people willing to buy and sell in any environment.  It is critical to analyze various aspects that determine the true market value but ultimate determination is what a buyer is willing to pay and at a price the seller is willing to sell.  Listed below are a few points variations of value.

 

-Appraised value:  this is the most subjective piece of the puzzle today with the implementation of the Home Valuation Code of Conduct.  It has taken what was once and almost a given to a tougher process to achieve “market value”.  As a “value add” part of listing process to our listing clients to help them achieve our sales price, we always meet the appraisers at the property to help support the value or sales price.  We include floor plans, surveys, comparable sales, market data and trends as well as statistics on the area that will help in the process of determining the property’s value. 

 

-Market Value – the truest form of value – what the buyer is willing to pay and the seller is willing to sell the property for under current market conditions.  Market value is determined by a particular purchaser’s and seller’s research of the market, market trends and data available at the time of the offering.  This is the value we hope to attain through the appraisal process once a contract is ratified.

 

-Tax Value – what the local governmental agency sets as their valuation for tax generation purposes.  These values are determined by market conditions and perceived value based upon an assessor’s opinion of what is happening in the marketplace and to raise funds in the appropriate jurisdiction.  These valuation occur on a regular basis from once a year to once every 5 years depending on the area.

 

-Perceived Value – This is the value a seller has in mind for selling their property for – it may be low, but often times it is high.  This value can come from past sales, perceived values of improvements made to the property or lack of improvements made that are necessary to achieve the value they perceive.  Additionally, this opinion can come from family, friends or neighbors and what they believe the seller could obtain in a sale.  On the flip side, it can be a purchase’s perceived value and their attempt to “steal” a house.  This value typically holds the least weight.  This value is also the hardest to overcome for a Realtor in many cases.

 

-Agent/Realtor Value – this value comes from market knowledge, market trends, analysis of demand in the price point, and in depth analysis of square footage prices, tax assessed value to net sales price ratios, and sales prices of comparable properties that have settled within the previous 90 days.  An experienced Realtor can be your most valuable asset in determining the right value for the house being considered.  If you have the right Realtor on your team – they are an invaluable asset. 

 

Hire a Realtor today!  Get it?  Got it?  Good!  Now, call us today 703-652-5777.

How committed are you?

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Commitment – what is it and why do people have it and others don’t?  Is it motivation to achieve more than others that drives us to follow through on what we know is the right thing to do?  Is it respect for our self and others to do what we say we are going to do?  Do we have more desire to succeed and put for the effort to achieve what we say we are going to do?  Is it our belief that we need to live up to what we say we are going to do?  Do we have more discipline?  Is it better time management?  Is it because we have goals and the desire to achieve them?  Is it a matter of just being more responsible?  Is it loyalty?  Is the belief we need to stand up to our obligations?

What I have been experiencing a lot lately is a lack of commitment from others.  Is it fear of commitment and as a result lack of vision and focus?   Is there something missing in their belief system that allows them to drift or become complacent and not take responsibility for their actions?  Is it just easier to be lazy than do it right?  Is it lack of effort or the belief that they don’t need to follow through on what is the right thing to do? 

It is my belief is that people generally know what is expected of them and what they know they need to do succeed in our business.  Professional and ethics are at the top of the list.  People need to follow through on their professionalism and simple tasks that are required to take care of their business.  Is it laziness that prevents them from turning in paperwork, turn in escrow checks, returning phone calls, respond to emails, or simply just show up for appointments?  Is it lack of desire, not loving what they do, no goals, lack of respect for themselves, the business or their company?

It is my opinion that you need to have discipline, effort and desire to be successful and you must commit to these beliefs and live by them or get out of the business.  Get it?  Got it?  Good!

Now, go sell something!

Do you have an On Purpose Attitude?

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One of the keys to success is to act…On Purpose.  Each of your activities must be intentional and must begin with the end in mind.  If there is no purpose to the activity, don’t do it!  Let’s analyze the On Purpose Attitude.

 

O – Outgoing, you must have a personality that is outgoing to achieve success.  You need to get out from behind your desk, out of your home office and get in front of people.  Be engaging and attract people through your personality and success will follow.

 

N – Nurturing, you must nuture the relationships you build through your outgoing personality.  Learn about those you meet, learn about their business, and help them grow their business and you will naturally have success follow you!

 

P – Proactive, be proactive in your daily activities.  Success won’t come to you – you have to go out and get it!  Areas of proactivity must include prospecting, learning, research and networking.

 

U – Urgency, develop a sense of urgency in your activities, as well.  John Wooden said, “be quick, but don’t be in a hurry”.  Have a sense of urgency to get things done.  Don’t procrastinate.  Develop to do lists, prioritize, and move on to the next activity.

 

R – Results, be effective and get results that build one step at a time to a successful life and career.  Determine what your results need to be to get the success you want and set a plan to accomplish what you need.

 

P – Planning, this is a critical step.  You need to plan your day, week, month and year to give yourself a road map to your success.  Review your plan and make appropriate adjustments as necessary.

 

O – Organized, you must be organized in all areas of your life to get the results you need.  Have an organized filing system, organized office, organized files, organized presentations, and you will reflect the professionalism that gets you to your desired level of success.

 

S – Systems, you must incorporate systems you need to follow to get the results you need.  Critical pieces of this puzzle include lead generation systems, follow up systems, processing systems, and other systems you need for your success.

 

E – Excellence, you must strive for excellence in all that you do.  The areas to consider are excellent customer satisfaction, excellent presentations, excellent communication, excellent work ethic, and excellent daily activities.

 

If you act On Purpose in all that you do, you will achieve success!  Get it?  Got it?  Good!

 

Now, go sell something!

D-I-S-C-I-P-L-I-N-E

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Recently we discussed change and in my opinion, one of the key ingredients to true change is discipline. Discipline is defined as conscious control over lifestyle – mental self-control used in directing or changing behavior, learning something, or training for something.  Here is a breakdown of discipline to help you continue down the path or perhaps blaze a new trail to incorporate this quality characteristic into your daily habits.

Desire – you must want what you have written or listed as your goal or objective.

Initiate – you must initate the proper behaviors or changes into your life.

Sacrifices – you must realize there are sacrifices necessary to implement in your life to achieve success.

Commit – you must commit to the changes you desire and stick with them to get the results you want.

Intentional – your actions must be intentional towards your new behavior and away from the old in order for true change to occur in your life.

Passion – you must have passion to achieve what lifestyle change you are implementing into your routine.

Learn – you must learn to accept the challenges you will face and fight through the “pain” of old habits.

Inspire – reward your new behavior to inspire yourself to stay on course and in the process, perhaps you will inspire others to do the same!

Numbers – it starts with small incremental changes, one by one that will add up to huge results.  As the saying goes, you eat an elephant one bite at a time.

Excellence – is what you will achieve if you stick with your plan of action through discipline.

In order to effectively implement change in your life, you must embrace discipline.  By writing your goals down, it will help you have focus, desire and the will to achieve, which will result in discipline becoming easier for you.  Remember, it all starts within you.  Get it?  Got it?  Good!

What are your daily habits?

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As I read John Wooden’s latest book – A Game Plan for Life – and review the habits his father had passed on to him through his mentorship, it got me thinking…what can I pass along to my children and those I encounter.  Here is what I discovered are my daily habits:

1. Always do your best…

2. Always do the right thing…

3. Always strive to learn something from every situation…

4. Be a continuous learner…

5. Always give back…

6. Live with passion and optimism…

7. Be strategic – in your life and in your relationships…

8. Be respectful and kind…

9. Have fun…

10.       Live your life to the fullest…

It is important in life to have your list of daily habits to improve yourself and the quality of your interactions.  Just a little food for thought as you set your New Year’s resolutions.

We are here to help you have a successful 2010.  Get it?  Got it?  Good!

Now, go sell something!

Still going strong…

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The market continues be strong for sellers looking to move up or move out!  Existing home sales spiked in October and November to the highest level since February of 2007.  Buyers are out in full force looking to take advantage of low rates, low prices and the tax credits that are available – there hasn’t been a better time in recent memory to take advantage of the real estate market!  Our biggest challenge today is inventory.  Our existing home inventory is at the lowest level since April of 2005.

Even with this outstanding news, it is critical to realize that it our market remains extremely price sensitive.  This means properties must be priced right, must be in the right condition and must show well (staged) if you expect to sell instead of just being for sale.  Buyers recognize when houses have a perceived value and are acting quickly when homes fall within this category.  If houses are priced at market value or a little high – they will collect days on market and help the other houses sell faster.  To assist our buyers and sellers determine if properties are priced properly we have developed a unique pricing model – The Home Pricing Wizard. It takes asking prices, under contract prices, sold prices, square footage prices, tax assessments and market trends to determine the right price for a home.   If you would like to learn more about our system or to see where the Wizard prices your home, feel free to call us today.

You still notice some reports out there that are casting a negative light on the housing market.  What you need to realize is that the news you see, read and hear is national news and not necessarily local.  As we have been telling you for years, real estate is local and even in some cases – hyperlocal.  However, some national news that may be of consequence to us and may affect our area is the mortgage delinquencies and how they are on the rise with “prime” borrowers.  This scenario is going to lead to our next wave of foreclosures both nationally and locally and will affect many in our area over the next few years.  Borrowers who have ARM’s that are set to readjust are most likely to be affected as they are unable to refinance due to declining housing values or they cannot afford the newly adjusted payments.  Keep your eyes and ears open and look for news on this as it will impact our market.

Again it’s a great time to buy or sell a home today.  Our team of knowledgeable and professional agents are happy to help you negotiate the best deal whether you are buying or selling a house in this competitive market.  Call us today!

The Numbers tell the Story

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As many of you know – and as my DISC profile told me Friday – I like numbers to support my case.  Well, the numbers I am going to share with you are facts you need to know to help you in your business and show us trends in the business:

 

33% of agents have been licensed fewer than 5 years – just 2.5 years ago at the RE/MAX Broker/Owner Convention, that number was 59%!  In my predictions for 2010 I believe we will continue to see even more agents drop out of the business because of the continuous changes that are occurring and the specialization that is required of agents to serve their clientele.

 

53% of agents have been licensed fewer than 10 years – again, from the same conference just 2.5 years ago, it was 78% of agents were licensed fewer than 10 years.  The lower this number goes, the better it is for us ethical and professional agents.

And, in my opinion, you have to own what you sell – 91% of Realtors own a home compared with the national home ownership rate of 67%.

 

In a survey of buyers and sellers this information was gathered…the 3 things buyers want from their agent:

 

1 – Find them the right home to purchase.  Do you know what this means?  You have to listen!  Check out my blog from earlier this week… www.scottymacsblog.com and while you are there, click the RSS feed in the lower right hand corner to subscribe to my blog site please – you don’t know what you are missing if you don’t register!  Oh yeah, it’s free!

 

2 – To negotiate the price.  Quick question…when was the last time you practiced your negotiation skills?  What new techniques have you found valuable?  Have you read any good blogs, books or magazine articles lately about negotiating?

 

3 – To negotiate the terms of the sale.  Hummmm sound familiar to #2?  Are you marketing yourself as a negotiator?  Do you have testimonials to back you up if you do?  When you meet with clients, do you have specific stories that relate to how you negotiated on behalf of a buyer in a particular situation?  Oh, by the way, listening is a huge part of negotiating!

 

Now, here is what the sellers say they want from their agent – see if you realize what is missing:

 

1 – Price the home competitively.  You have to know your comps, market conditions, and trends to know how to price accordingly.  Basically, do in depth research of the market to get it done for you seller.  What are the per square foot prices, pricing trends – are they up or down and how much, the correlation between tax assessed values and sales prices, number of competing properties, average days on market, and where to price it to get maximum exposure while on the market.

 

2 – Sell the home to sell within a specific timeframe.  Again, this requires you to price it to sell and what else?  Get it in the right condition and get it to show well…let’s see what is next!

 

3 – Find a buyer for the home.  Well, what do you need to know to do this?  You have to know where buyers go to find houses…other agents, and the internet.  Basically, you have to market your listings where the buyers go to find them.  Research the sites that get the most exposure, the most hits from buyers, what agents sell the most homes in the price range of the house you are selling, etc.  It’s not rocket science.

 

4 – Market the home to potential buyers.  As previously mentioned – you’ve got to know how to market on the internet – Social Media sites, your website, other real estate related sites, etc.  Also you need to know what they want to see when they get there – multiple pictures and in my opinion, videos.  Pictures and videos of the house, yard, views up and down the street, neighborhood, schools, and shopping centers – get creative!  Also, do your research on MLS and get your listings in front of Realtors who have buyers in your properties price range – get the word out!

 

5 – Find ways to fix up the home to sell it for more.  Have the listing pre-inspected to have the home in the right condition.  When buyers see one thing wrong, they begin to look for more things that are wrong and then pick at the price.  Have the home staged to have your stager recommend low cost items that get the biggest returns for your sellers. 

 

When houses are pre-inspected, staged and priced right – they sell in the timeframe your sellers desire.

 

So you ask, what was missing.  Well, in my opinion – negotiating.  If you can’t negotiate, you can’t get them to price it right or get them to get it in the right condition to sell it in the timeframe they want it sold within.  Also, you have to negotiate with buyers and agents to get your sellers what they want when they want it so learn how to negotiate and market yourself as a negotiator.  Have specific stories that tell sellers what you have done for others to get them what they wanted from the sale of their home.

 

The more you appeal to buyers and sellers through showing your experience in areas that are important to them, the more success you will have in our business.  Get it?  Got it?  Good!

Gateway’s Year in Review…now on to 2010!

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As the Leadership Team at Gateway reflects on the year that was 2009 and to see where we need to go to achieve our goals for 2010, we thought we would share our accomplishments and significant events that shaped 2009 for us as well as let you know what we want to accomplish in 2010.  We also want to share with you, RE/MAX’s Vision of 2010 and show you how we are aligned with their goals which is pretty exciting in my opinion!

RE/MAX Vision:

The number one goal is – Increase market share and associate production through recruiting, retention and franchise sales.  We have on our plate for 2010 to open at least one new office – Brambleton in July.  Additionally, we are looking to expand our operations to take advantage of the extended downturn in the real estate market and grow strategically through partnerships with area industry leaders.  Additionally, Gateway has increased agent count and productivity over the last year which is a testament to your hard work and efforts. 

The number 2 goal is – Overwhelm the competition with strategic Regional advertising to maximize Brand exposure.    We have seen the growth of Social Media and have embraced this form of marketing to communicate our vision to the public as well as our agents.  Additionally, our extensive email marketing campaign has been extremely successful through constant contact.  And lastly, our post card campaigns highlighting the affiliation of new agents has increased our market presence.  We believe our marketing efforts are second to none in the industry…we are always out there! 

The number 3 goal is – To aggressively pursue and complete the fold-in, merger or conversion of quality independent franchises into our existing RE/MAX brokerages.  As you know, our recent acquisition of Signature Real Estate in Culpeper may possibly lead to additional acquisitions in that region for Gateway.  Through contacts with Signature Real Estate, we have the inside track on the merger with 2 small boutique operations in Culpeper that we plan on diligently pursuing.  We are also looking at other opportunities and are happy to discuss any that you are aware of and want to be a part of going forward.

Under the Regional Office Priorities:

Recruit top 25% in each MLS.  Through the use of our subscription of Broker Metrix, we have determined who our target list of prospects is for our offices.  We have had strategic discussions with several agents in the areas near our offices and we are looking to enlist the support of our agents to help acquire these agents and others they are aware familiar with to affiliate with Gateway.  Our plans are to communicate with these agents through our “Get to Know Gateway” events, our Real Estate Exchanges, Social Media outreach and constant contact email campaigns detailing our educational programs, our competitive compensation schedule, RE/MAX initiatives and upcoming Gateway events.  By utilizing this continuous and persistent recruiting plan approach, we are confident we can capture the market share RE/MAX is hoping to attain.  Additionally, the benefit to you is that you get to work with the best and most respected agents in the business who want to help you succeed.

Facilitate networking and retention programs for existing agents.  Through the use of our emails, blog posts, our weekly Friday trainings, monthly Real Estate Exchanges (March of 2010 marks our 5 year anniversary of these events), quarterly meetings with nationally recognized speakers (Paul Muolo is slated for March’s meeting and Amy Crews Cutts, deputy Chief Economist for Freddie Mac is slated for June’s meeting, Stephen Fuller www.cra-gmu.org – his office’s 4th consecutive year – is on our September schedule and we are working on our year end meeting speaker.  This past year we had Doug Duncan, Stephen Fuller and Dave Stephens – under secretary of FHA) along with our awards party, agent appreciation events and annual Christmas party, we believe we have been able to retain our great agents such as yourselves as well as recruit several other top producing agents to our offices through this level of communication.  We want you to feel appreciated for being part of our team and we look forward to you continued participation at these and other events we host for you.

Partner with Broker/Owners to analyze and identify profitability models.  We have conducted thorough and extensive research of the market through an independent marketing firm – Verasolve – to determine the offerings of our competition and to place Gateway at the forefront of our marketplace in terms of education, trainings, and competitive compensation models that lead to profitability.  Through in depth discussions with Gateway’s leadership team, we have come up with a compensation/profitability/accountability plan that works for us as well as our recruits.  We have presented our model to our agents as well as our recruits and the model has allowed us to attract top talent from our competitors.  Also, by providing feedback opportunities to our agents, we have shown our transparency to our agents which has allowed us to maintain higher retention rates.  We are always open to receiving your thoughts on how we can serve you better as our valued agents.

And lastly, Award Franchises.  We couldn’t agree more – we are looking to grow, help us achieve this goal!

Under Brokerage Priorities:

Continue to reduce overhead/increase revenue streams.  As you know, we have closed the Great Falls office and we still have achieved a net gain of 14 agents this year at Gateway.  In addition, we have relocated our Gainesville office to a more visible location in our building with a better floor plan.  Additionally, we have incorporated training centers into both of our Chantilly and Gainesville locations.  We plan on doing the same in Brambleton as well as our future office locations.

Recruit the top 25% producers in your MLS.  Through the use of Broker Metrix, we have determined our ‘Hot List” of prospects that we want to join Gateway.  As such, we have just recently recruited several top producing agents which is great exposure for both Gateway and RE/MAX alike.

Optimize the use of the RE/MAX system in your office.  We have been incorporating the emails from the region into our regular communication with our agents and have utilized recent RE/MAX events such as Demand Success Today to educate our agents on RE/MAX offerings as well as a recruiting tool.  If you are unfamiliar with what RE/MAX has to offer, please attend our next New Agent Orientation to learn more.

Generate a high level of PR in your local community.  Through my recent election to the Board of Directors of NVAR, we have been introduced to Ann Gutkin, the head of Public Relations for our association.  She has connected us with several newspapers who request articles to be written for their respective papers.  Our quick responses to her requests as well as the newspapers have given our agents the ability to get published as experts in real estate.  In addition to this, we have established relationships with newspapers through our charitable contributions – most recently – Breakfast with Santa for our Toys for Tots campaign.  In conjunction with these efforts we get press releases published on a regular basis in business publications such as The Washington Business Journal.  Additionally, we are heavily involved with the Top 5 in Real Estate network and have achieved great PR success with RISMedia as a result of our affiliation.  In addition to this, we have a Director of Social Media which enables us to get maximum exposure, consistently out to the public as well as agents through Social Media outlets such as Facebook, Linkedin and Twitter.  Lastly, our leadership team is also deeply involved in our local associations which results in great exposure to the real estate community.  Brett, Jason and Kate are involved committees.  Additionally, for 2010, Kate is the Chair of the Convention committee as well as Vice Chair of the Education committee – outstanding exposure for Gateway.   Help us, help you get more publicity for you and aid in growing you as an expert in real estate!

And Persistence…our continuous emails, communication and our business plan (which is attached)are evidence of this desire!

Franchise Growth Strategy:

Expansion Franchises:

Existing locations must be in full compliance.  Just so you know, in short, we pay and pay on time consistently and comply with all RE/MAX requests promptly.  We have exceeded our quotas in each of our locations and we attend RE/MAX events locally, nationally, and internationally on a continuous basis.

Under Final Details:

Recruiting Business Plans.   We will be happy to provide you with our recruiting plan of action we have in place if required.  Many aspects have already been discussed in this email as well as the business plan but we can provide you with the specific plan for your review if requested.  We are looking to grow and thrive in any market and would love your input on who can help us be the best.

Quota adjustments – none needed – we are compliant and far exceed the requirements outlined in our franchise agreements.

Business Continuity Planning – provided over a month ago per your request to be compliant with RE/MAX.

Statistics Reporting provided monthly through Lone Wolf with our monthly bill payment to remain compliant with RE/MAX.

Membership Profiles provided as agents affiliate with our office.  Each agent in MRIS and at DPOR with Gateway is also in the RE/MAX system to be compliant with RE/MAX.  Also, all agents are agents – not listed as licensed assistants to be compliant with RE/MAX rules and regulations.

Children’s Miracle Network was at our year end meeting and we have signed up in hopes of becoming a Miracle Office.  We are also extremely involved in other charities and can provide a specific list of continuous involvement with these charities upon your request.  Life with Cancer, Susan G. Komen, Toys for Tots, Leukemia/Lymphoma Society, and many others are on our list.

In addition to the items listed, we plan to embrace the New Events for 2010 proposed by RE/MAX and look forward to participating in these events.  Most notably, the Swing for Success, Broker/Owner Boot Camp, Broker/Owner Retreat 2010 (we have relationships with exceptional speakers that are reasonably priced if you need suggestions), New Agent Orientations (we have one for our agents if you would like to review or implement items from our presentation) and all the others listed in the email.

As you can tell, we are passionate about our franchise as well as the expansion of Gateway and believe that we have presented a compelling case for us to be noted as one of the best franchises in the RE/MAX organization.  Our commitment to our agents, Central Atlantic Region and the RE/MAX brand as a whole is evidenced by our desire to build the best franchise in the network.  We have put together a strong group of agents who are dedicated to each other’s success.  We will continue to grow, evolve as a franchise, and tackle the challenges of the real estate market head on!  We will not remain complacent – this is our commitment to you, our Gateway Agents. 

Below is a brief list of our accomplishments in 2009 and a look ahead into 2010!

Here were just a few of our Charitable contributions this year…

Golf tournament raised $6,400 for YouthQuest Foundation

We fielded a team for the 5th straight year and walked in the Susan G. Komen Race for the Cure

Nearly $2,000 was collected for Life with Cancer

273 toys were collected at our Breakfast with Santa for Toys for Tots – 5 years running!

 

New Path to Excellence Seminar Series started…

Leadership Seminar

Team Summit

2nd annual Successful Business Planning Retreat

 

Our Distinguished Speaker series blossomed…

Doug Duncan – Chief Economist for Fannie Mae

Steve Fuller, PHD  – Head of GMU Center for Regional Analysis

Dave Stevens – Under Secretary of FHA

America’s Home Rescue, Michael & Stacey Spickes

In addition to these events we experienced…

16 net new agents

Closed our Great Falls location in a cost savings measure…needed to tighten the belt in 2009

Moved Gainesville to more prominent location on first floor

Incorporated training rooms in all offices as trainings became better attended

Received approval for Brambleton office from RE/MAX – office due to open in July of 2010

Scott was elected to the NVAR Board of Directors

Hired a Director of Social Media

Incorporated Social Media in all aspects of the office: Facebook, LinkedIn and Twitter for all offices

Group designations CDPE and CDRS both for short sales and both were excellent in their own ways!

 

As far as the calendar of events for 2010 – here you go!

February 11th Get to know Gateway – Logan’s Fair Lakes

March 12th Paul Muolo: Quarterly Company meeting (not confirmed)

March 19th Golf Tournament

April 21st Gateway Awards Night

May 12th Team Summit

June 5th Race for the Cure

June 16th Get to know Gateway – Gueseppi’s in Haymarket

June 18th Quarterly meeting with Amy Crews Cutts

July 17th Company Picnic – Scott’s court

August 4th Leadership Seminar

September 17th Quarterly Meeting

September 22nd Get to know Gateway – TBD Brambleton

October date TBD Flu Clinic

October 22-24th Business Planning Retreat – potentially Kingsmill Resort

November Food Bank Collection due date November 19th

December 3rd Year End Meeting

December 4th Breakfast with Santa for Toys for Tots

December 9th Gateway Christmas Party

As well as all of our other regularly scheduled trainings and Real Estate Exchanges – keep an eye open for your monthly calendar!  You are guaranteed to experience more at RE/MAX Gateway!

Now, go sell something!

 

As the year comes to a close…

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As the year comes to a close, you read, see, and hear a lot of different things about our current real estate market.  In one report you read foreclosures are going to crash on us like a tidal wave and in the next you read that foreclosure filings are down 4 straight months in a row.  You hear that new home sales are skyrocketing as are their prices as buyers are flocking to new home sites because they are sick of losing out on multiple contracts in the resale market yet builder confidence is down to its lowest level ever in another article you read. 

As you can tell, there are mixed messages in the media which is makes it easy to understand why the consumer is so unsure of what is happening out there in the market and as a result, they are sitting on the sidelines.  It is my belief that you can also poll agents and you will get similar mixed messages.  Where you stand on your beliefs about the market is in direct proportion to how involved you are in the business and whom you speak with on a regular basis.  If you aren’t out showing properties, speaking with lenders, new home sales agents, other active agents (those listing and selling homes, not talking about selling homes), and even title companies who are closing sales – you are most likely getting your information from elsewhere.  The elsewhere is the media, out of touch lenders, unproductive agents, non producing title companies and wherever else people get their information – neighbors, friends and coworkers.  This elsewhere is typically providing uninformed and negative comments about our market.  My suggestion is for you to get busy and get the facts.  Communicate what is happening in the market and help people make informed decisions on whether now is the right time to buy or sell their home by seeking out the right people and getting the right information.  If you aren’t out working the business, you won’t be able to communicate the accurate message to your clients. 

He is a perfect example.  I was on a listing appointment yesterday afternoon and after laying out the market conditions to our new clients they asked me if now was a good time to sell?  My answer was yes.  Why?  There are buyers out in our market, the homebuyer tax credit has been extended as well as expanded, mortgage interest rates are low – albeit slightly on the rise recently- inventory levels are low, they have equity and they can take advantage of the market as buyers as prices are more affordable than over the last few years.  The one caveat, they had to price their house to sell.  Our market is extremely price sensitive today.  Buyers are looking for bargains – not houses that are priced right.  As a result, they have decided to price the property to get it sold after finding a home in Florida they feel comfortable living in there.  Proper education, given in the right way based upon experience helped me help them.

So, what is your action item?  Do your own research, write your own blog, call your people, communicate your message through what you have learned by speaking with productive, educated, active agents, new home sales agents, lenders, and title companies.  Do your due diligence on the market by previewing houses – be observant as you drive to these homes.  Do you see abandoned properties?  Are there homes in total disrepair you notice as you drive around?  Are there many for sale signs?  Make a mental note that will help you tell the story about our market.  Remember, real estate is local and the media portrays national news and trends.  My advice is to get busy getting educated.  Get it?  Got it?  Good!