June 2011 REO Achievements

May 2011 REO 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.

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Good News for Real Estate One - June 2011

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.

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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.

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

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

Free Coaching Tip #28 - Your Unique You

Free Coaching Tip #28 - Your Unique You

So what’s your value proposition? What sets you apart from other licensed agents? Why would a customer choose you over your competition? There are three areas of primary concern for the consumer.

Negotiating Skills
Marketing Skills
Market Knowledge

Can you clearly articulate the value the consumer will experience from your negotiating skills, marketing skills and market knowledge? These three items form your brand. Do you have someone helping you establish and grow your unique brand?

In your next tip, I will share with you how to verbalize the benefit of the three most critical attributes of a listing agent.

If you would like to know how to do that today, give me a call!

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

Free Coaching Tip # 27 - Why would a customer choose you?

Free Coaching Tip #27 - Why would a customer Choose You?

Let’s talk about the “Listing Presentation”. It’s the one time that you have to verbalize your value proposition and someone else gets to measure whether you are worth it or not.

This is now true when working with buyers, also. Do you have a "Buyer Presentation"?

What is your value proposition?
In your next tip, I will share with you the three critical attributes (value proposition) of a productive listing agent.
If you would like them today, give me a call!

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

March 2011 Achievements

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

Your Hired!

http://www.michigancareerinrealestate.com/bals_PreSingle.php?mid=TnclM0QlM0Q%3D&loginId=TWpVMQ%3D%3D

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

March 2011 Real Estate Market Update

March, 2011

The first quarter of 2011 has been an interesting ride with buyer activity at a pace not seen since 2004. Many indicators show that Michigan is actually leading the rest of the country out of the recession, boosting consumer confidence and housing interest.

Looking at the months supply of housing inventory (MSI) gives us a good indication of why the market has felt so frenzied (MSI of 0-3 months = Sellers Market, 4-6 months = Neutral, over 6 months = Buyers Market). We have been in a Buyers Market for nearly 6 years but in a short period of time we have moved from 8.3 MSI in December to 4.6 months in March and under 3 months for bank-owned for Southeast Michigan.

Within those numbers is a growing housing quality issue. For a percentage of homes where the mortgage has exceeded the market value there has not been an incentive to update, upgrade or even maintain. The result is a higher percentage of homes for sale that are less desirable since they may be dated or require significant work, even if they are not bank owned. So when you factor in the quality of the current housing inventory, the overall market number of saleable homes may be closer to 3 months MSI.

The following chart shows how the market has shifted from 2009 to 2011 in terms of the number of homes for sale and the rate of sales.



It is not hard to see the forces of supply and demand at work over the past three years.
Increasing sales and decreasing inventories have created the multiple offer situations we have seen in the last 90 days. As strange as it sounds, we have a significant shortage of saleable homes for sale.

Does that mean prices are rising as well? Not really, conservative appraisal standards will still hold back values to some degree and at this point in the early stages of our recovery; increased activity translates into a faster sale, but not necessarily a higher price. So pricing still needs to be aggressive to attract attention. But it is clear that for sellers it is the best time in the past six years, with demand exceeding supply, to try the market.

The best advise for a buyer is to be very flexible and willing to act quickly, hesitation will be costly. As prices begin to firm up, buyers will need to shift their mindsets from making deep discount offers to working within the range of the asking prices. Share this with your purchasers to put them in the best position to succeed in getting the home they want at an incredible value.

So with all these good signs, what can slow things down again? There has been some conversation about a real estate double dip and in fact Detroit was named as a double dip market (we have not seen that in our data). Increasing gas prices and in general a slowing of consumer confidence will keep a lid on growth. Also the number of bank owned homes being released to the market could have a negative short term affect, but positive in the long term. There is also a large backlog of homes that have been leased because they were not able to sell which, if placed on the market in high numbers, could slow the recovery.

Any market that changes direction, in this case in a positive way, gives off confusing signs to both sellers and buyers, so remember the weirder it gets the better it is for home ownership and home values! Also, they will need you even more than ever before if you can prove your value to them by proving your knowledge of the market.

Here are our numbers for the first quarter of 2011, along with market statistics over the past 90 days. You are all doing an outstanding job for your clients so it is not surprising we are off to a strong start this year!

Dan

Dan Elsea
President-Brokerage Services
Real Estate One Family of Companies

Total Company Summary - March 2011





Data Source: MiRealsource, Realcomp, Ann Arbor Board, TAAR MLS & BrokerMetrics
Months Supply Inventory represents the current sales pace to sell the existing inventory (months)
* Includes Hamtramck and Highland Park
** Includes Eastpointe and Harper Woods
*** Includes Grand Traverse, Kalkaska, Antrim, Leelanau and Benzie counties, waterfront properties

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.

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suzanneo@realestateone.com

Good News for Real Estate One in April!

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

Real estate's 'unfranchise': LeadingRE

Real estate's 'unfranchise': LeadingRE

Executive profile: Pam O'Connor

Inman News™
By ANDREA V. BRAMBILA

Pam O'Connor, president and CEO of Leading Real Estate Companies of the World, would like to think she's had some influence on raising standards in the real estate industry.

"Unfortunately, it's too easy to get a real estate license and too easy to be in the business when you don't know about the business," O'Connor told Inman News at the Chicago-based network's annual convention in Las Vegas last month.

"You lead by example, and if you do a good job it makes other people have to do a better job to keep up with you."

LeadingRE represents 600 local and regional real estate firms with a combined total of 5,000 offices and 150,000 sales associates worldwide. The network's participants produced nearly $250 billion in home sales in 2009, according to its website. The network competes with national brands such as Re/Max, Keller Williams and Coldwell Banker.

In order to participate in LeadingRE, firms have to be among the top five independent brokerages in their market, based on multiple listing service data.

"We always talk about relationships in the business. In our world, we like to do that based on performance. We have had some companies we didn't renew based on performance," O'Connor said.

Elevating standards holds "people more accountable, so consumers see this business as something that has value," she added.

LeadingRE members also have to have a good reputation, a quality website, and "nice" offices, among other requirements. Joining also means committing to participating in the network's referral and Web-linking systems, O'Connor said.

"It's an annual membership, so people can leave if they're not seeing value," she said. "We have very little attrition."

After getting a journalism degree in 1972, O'Connor held a job at a television station in Atlanta for two years. She started her career in real estate as a communications manager for All Points Relocation Service.

After leaving All Points and holding a couple of other positions, including running her own public relations firm for three years, she returned to the company as its CEO in 1985.

In 1997, the RELO real estate network acquired All Points and O'Connor moved to the Chicago area to head up the RELO network. The following year, RELO merged with Reliance Relocation Services and became the nation's largest relocation network.

In 2005, the network changed its name to Leading Real Estate Companies of the World to better reflect its identity as a real estate organization rather than one solely focused on relocation.

LeadingRE is a "diversified brokerage services network," O'Connor said. "We're sort of the 'unfranchise.' We do everything franchises do, but we're not a franchise. We take a local brand and give them that global connection."

The network provides lead-generation services, including 35,000 broker-to-broker referrals per year, she said.

About 200 of the network's 600 companies also participate in its Luxury Portfolio International marketing program for high-end properties.

LeadingRE provides its members with technology tools, including Institute 2.0, an online learning platform, and Our World, an online community platform O'Connor described as a "Facebook for business, but just for the LeadingRE network."

The network has also made its marketing materials and listing presentations "iPad-friendly" to communicate with consumers "wherever they are," O'Connor said.

"We are also trying to educate (brokers) on how to (incorporate mobile tools) with their own businesses. Every company is a little different, and we can provide certain generic things, but at one point you have to customize it," she said.

The network's members are most worried about "things that are harder to control," O'Connor said, such as the housing market and the economy. Aside from that, they're most concerned about making their business models more efficient and profitable, she said.

"One of the big headaches has been brick-and-mortar (offices), so I think a lot of (brokerages) are thinking about how to redo (them)," O'Connor said.

She doesn't like virtual offices -- mainly because they lack agent cohesiveness, she said.

"A lot of brokers are struggling to find enough of an office presence where people can come and congregate and get energy off each other without the ridiculous overhead," O'Connor said.

In that vein, she thinks brokers don't get enough credit for what they do, perhaps because they "don't toot their own horn" enough.

"They're the ones with the overhead and the infrastructure costs. They really create a platform for the agents to work. They deserve credit for the job that they've done in this economic environment," O'Connor said.

"I think they should do a better job of showing their agents and their customers the value they bring."

While revenues from the housing market have dropped 40 percent, many brokers have adapted, she said.

"They had some good years and were good stewards of their cash. We're definitely coming out of it, but it takes a special kind of leader to do that," she said.

That was one thing she missed about the real estate industry when she ran her own public relations firm for a few years.

"I missed the vibrancy of it," O'Connor said. "In this down cycle is when the good people come to the fore. It's an industry of survivors."


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

Free Coaching Tip #24: How to get your business to continue to feed you

Tip #24

Often, I hear these types of statements from agents in our industry. Do any of these sound familiar to you? Have you even said such things yourself?

"I am so sick of buyers wasting my time!"
"My buyers are not being realistic about making an acceptable offer."
"I am so tired of making a couple of hundred dollars after working for months with a buyer."

Why are we spending all of our time chasing buyers, when there is little inventory for them to compete for? They want to make low offers because they believe the news media and not those of us who work in the industry every day. Lastly, we can virtually lose money by working with them as they usually have very little loyalty to us.

Why are we not focussing our business on taking more listings? Think of the following benefits.

Schedule Management: You can work with a buyer for hours, days and even months, and never get a sale. When you are working with buyers, you are working for all the other agents in your marketplace trying to sell their listings. When you work with sellers, all of the agents in your marketplace are working for you. Which one seems more productive to you?

Self Marketing: When you work with a buyer and sell them a home in a neighborhood, does everyone on the street know that you sold that home? How about if you take a listing, you sell it and put a sold sign on that property? Does everyone in the neighborhood know that you sold that home?

You Don’t Have to Be There: You can only sell a buyer a home when they are in your car and going in and out of houses. You can be in another country on vacation and sell a listing.

Build Your Business: A listing will generate buyer calls, you can mail out just listed and just sold postcards, you can hold open house to attract buyers and potential listings….pretty simple, a sign in the yard is one of the best forms of advertising yourself.

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

Your next tip will outline the most important needs of a seller. If you would like to get them today, give me a call!

It's Good News For The Real Estate One Family

Free Coaching Tip #8 - How To Determine The Prospects From The Suspects

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
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Free Coaching Tip #7 - How Much Time Do you Waste With Suspects Instead of Prospects?

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
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