April 2011 Achievements

If you don't remotely know how or where to begin with implementing any of this, come work with us. We already have a system that does it all for you! Including our new - 1st To Know Mobile Text and Email. This allows the consumer to text the address of any active listing, no matter who the broker, and be sent the entire listing information on their mobile device. Contact us to learn more.

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

(313) 516-6644
suzanneo@realestateone.

April 2011 Real Estate Market Update

April 2011 Real Estate Market Update

April continued to show the strong activity level we have seen during the first quarter. The actual rate of sales on an annualized basis did slow however. It is too early to tell if that change is significant, it could have simply been weather related. Compared to last April sales were off about 15%, but last April was a peak tax credit month, so a 15% decline is not a bad number and not unexpected. Here's the interesting piece. In most every metro Detroit market we continue to see six year lows in the Months Supply of Inventory (MSI). It may be that some of the growth slow down from March to April was simply there were not enough salable homes to purchase.

It is tough to tell just how much of the increasing activity could be a temporary spike vs. a permanent market uptick. We are certainly one of the strongest markets in the country. Regardless of which it might be, the strong activity makes this the best time to have your home on the market since 2005! So for anyone who is considering selling their home in the next 12 months, act now and act fast. Demand is rising, inventories are low as are interest rates.

Even though values appear to be strengthening, Sellers will still need to set their prices based on the most current sales activity. A home that was on the market last year at $75,000 over the then current market will still be overpriced today. Home values are bouncing off the bottom of actual comparable sales, not what the asking prices have been. We don't expect prices to jump dramatically (tough appraisal standards will keep a check on that) but there could be some nice bidding wars for well priced and conditioned homes bringing prices off their bottoms from last year.

Another thing to keep in mind is that buyers are still being very picky. Homes that are not updated or in great condition are still sitting on the market or going for below asking price. If possible, a Seller might consider using a FHA 203K rehab loan as a refinance to help fund their updates for a more salable home.

Another issue that has gotten some press is the MERS (Mortgage Electronic Registration System) foreclosure problem. The core issue is the willingness for title insurance companies to write a title policy on bank owned homes that used MERS in their foreclosure process. It is too early to tell if this will be a significant issue but there have been a few banks that have taken their homes off the market until they can determine their title insurance status. It may have the effect of squeezing the available home inventory even further and in some cases causing a postponing or canceling of a sale if title insurance cannot be provided to the buyer. For current Sellers it would be a good idea to have your old title policy handy just in case there was a MERS foreclosure in your title history.

Many of you do this now, but as a reminder, be sure to prepare for all of your appraisals in advance. Research your comps, including pending sales and be prepared to walk through them with the appraiser at the property. With so many of our strong listings selling for at or even above list price, appraisers will find it tough to keep up with the market without our help.

If you don't remotely know how or where to begin with implementing any of these, come work with us. We already have a system that does it all for you! Including our new - 1st To Know Mobile Text and Email. This allows the consumer to text the address of any active listing, no matter who the broker, and be sent the entire listing information on their mobile device. Contact us to learn more.

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

(313) 516-6644
suzanneo@realestateone.

Free Coaching Tip #31 Listing Strategies: How are you verbalizing your marketing skills

Tip #31

LISTING STRATEGIES (8)

How are you verbalizing your marketing skills?

(Example Step 3, – Market Knowledge):

What is market knowledge? Is it a simple Market Analysis or is there more to it?
Do you know the difference between Median Prices vs. Average Sales price?
If so, what does it all really mean?
How about days on market? Sales price as a percentage of list prices?
Are you using Price Banding in your listing presentation?
Your commitment is to be the most skilled in presenting and verbalizing your market knowledge.

Call me today and I will provide you with the strategies and tactics.

In your next tip, I have a bonus benefit you can present to your sellers that will further differentiate you from the competition.

If you want it today, give me a call.

If you don't remotely know how or where to begin with implementing any of these, come work with us. We already have a system that does it all for you! Including our new - 1st To Know Mobile Text and Email. This allows the consumer to text the address of any active listing, no matter who the broker, and be sent the entire listing information on their mobile device. Contact us to learn more.

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

(313) 516-6644
suzanneo@realestateone.

"All life is an experiment. The more experiments you make the better."
- Ralph Waldo Emerson

Monday Morning Mobile: The Next Mobile Initiative

Monday Morning Mobile: The Next Mobile Initiative
By Seth Kaplan
RISMEDIA, May 16, 2011

Over the past year, the mobile space has become so vital to a company’s marketing initiatives that having a Mobile Website is no longer a luxury, but a necessity. This is evident by the fact that over the past year many of the country’s top brokerages have adopted a mobile web solution to meet the growing demand from mobile consumers. Furthermore, the success of these brokerages’ mobile initiatives can be seen in the traffic generated to these mobile sites total in the millions of users.

As with any cutting-edge, new technology those who are the most forward thinking and have the marketing budgets to invest in the technology are the first to market. In addition, the more prominent the technology becomes the more companies find ways to scale it and offer it to larger groups which is exactly what is beginning to happen within the real estate industry.

Companies who saw success in mobilizing their corporate website, such a Premier Estate Properties, Florida, are now beginning to implement mobile at the agent level; especially if they are provide a traditional website for their agents already. Now in addition to the company site being mobile, each agent’s site is mobile as well. What’s the benefit to this?

The way I see it, there are numerous reasons for a company to provide this for their agents. First, there is no shortage of mobile consumers; everyone is going mobile if they haven’t already and mobile web adoption is sky rocketing. Second, it sets a level of quality control. If the company has invested resources into ensuring that all mobile consumers have the proper experience on the company website, you wouldn’t want an agent using an inferior product which would reflect poorly on the company.

Third—and possibly most important of all—this provides a quality recruiting and retention tool, while at the same time providing the agent with a great listing tool. More agents winning more listings means more money on the bottom line for the brokerage. Furthermore, the agent sites are a great networking tool. Since everyone always has their mobile device on them, they can show off their mobile site while having a conversation at a barbeque or in line at Starbucks. They no longer have to tell a prospect that they have to wait until they get home to go on their desktop and check out the website.

I applaud firms such as Premier Estate Properties, Florida and RE/MAX Integrity, Oregon for investing in the mobile infrastructure of their most vital asset; their people. I think they will see as much if not more success in the creation mobile agents as with their company’s mobile website.

If you don't remotely know how or where to begin with implementing any of these, come work with us. We already have a system that does it all for you! Including our new - 1st To Know Mobile Text and Email. This allows the consumer to text the address of any active listing, no matter who the broker, and be sent the entire listing information on their mobile device. Contact us to learn more.

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

(313) 516-6644
suzanneo@realestateone.com

"A man who dares to waste one hour of time has not discovered the value of life."
- Charles Darwin

"A man sooner or later discovers that he is the master-gardener of his soul, the director of his life."
- James Allen

Free Coaching Tip #29: Showing the value of your negotiating skills

Tip #29

Showing The Value Of Your Negotiating Skills:

“You know the market, you know how to market and you’re a great negotiator.”

But how are you at verbalizing your negotiating skills?

“Mr. and Mrs. Seller, in your opinion, who do you feel the primary person is that I negotiate with when getting your home sold?”

The typical answer you will get is “The Buyer”.

“Mr. and Mrs. Seller, the most important person I will negotiate with (if it’s not your buyer for your listing) is the buyer’s agent. The buyer’s agent has a relationship of trust with your potential buyer and it’s important that I recognize and respect that. They have hired the agent to handle all of their dealings in good faith.”

“Regardless of the price that is offered or level of experience the buyer’s agent has, I will work professionally with that agent to create a win-win situation so that we can get your home sold”

“When we get the offer, we will review it and counter back with a fair price based on current market conditions. I will also send a cover letter to the buyer’s agent acknowledging our appreciation for the offer, the hard work the agent has done to bring us the offer, and an explanation of our counter-offer with supporting documentation.”

Is this how you are verbalizing your negotiating skills to your sellers? If not, let me help you get started today, call me and let’s set up a time.

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

(313) 516-6644
suzanneo@realestateone.com

REALTOR® Income Distribution

REALTOR® Income Distribution
April 19, 2011 by Lawrence Yun, Chief Economist & Senior Vice President, Research ·
Filed under: Housing Market, REALTOR®
It has been a very tough market and business environment in the past three years.
Even so, roughly 15 percent — which translates into 150,000 REALTOR® members — earned a six-figure annual gross income.
However, there are a vast number who made less than $25,000.
The real estate business, as with most any business, apparently follows the 80/20 rule: 80 percent of the business gets done by 20 percent of the people.



The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

(313) 516-6644
suzanneo@realestateone.com