Real Clues

[RealClues] #304: Transforming the Market (pt 1)

Copyright (c) 1996-2007 www.RealEstateCoach.com and
Teleclass4U.com, LLC. All rights in all media reserved.
We have a no SPAM policy. If you received this newsletter and did
not subscribe to it, visit www.RealEstateCoach.com to unsubscribe.

This week at www.LuxuryClues.com
The"Perfect" Real Estate Company? Be Great in '08: Parts 1 and 2 of
"How to Let Your Bad Habits Expire." (Custom Building Series will be
posted later this week provided my computer returns from sick bay.)

~~~~~~~~~~~~~~~~~~~~~
Table of Contents
~~~~~~~~~~~~~~~~~~~~~

1. CoachingClues: Transforming the Market in 2008
2. Welcome Notes: Adding What Works to Your Business
3. Reprise: Back to Basics: Prospecting Expired Listings
(Part 2 of 2)
4. Create a Better Life: Santa and Grandma
5. Positive News for Positive Realtors(reg): Two Millions Foreclosures in
'08: Baloney!
6. Featured Products: Uncover the Secrets of Top Real Estate
Performance
7. Increase Your Production with Personal Coaching
8. Give Us Your Feedback on this Newsletter
9. How to Subscribe/Unsubscribe

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
1. CoachingClues: Transforming the Market in '08
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Could a group of real estate agents write and publish a real estate
book in just a week? The answer is "Absolutely!"

The Saturday before the National Association of Realtors convention
last month, Frances Flynn Thorsen, Steve Kantor, and I spoke on a
panel for a coaching event hosted by Patti Kouri. Kantor, who is the
author of "Billion Dollar Agent--Lessons Learned," came up with the
idea of asking Patti's group of agents to help him create a national
effort to write a real estate book within one week and have the book
in print by the last day of NAR.

The book, "Transforming the Market in 2008," was in print the
following Friday. Kantor owns www.BestAgentBusiness.com, which
specializes in providing agents with virtual assistants. His success
at completing this task in just six days is a tribute to the
effectiveness of the virtual assistant model. It's also a tribute to
all the agents who willingly shared their ideas about what's working
in today's market.

The book is a compilation of hundreds of comments about the
challenges agents face today. Below is a list of the most frequently
reported challenges as well as how to meet them.

1. Negative media: In two of my past columns, I outlined strategies
for taking negative housing news and showing what is positive. The
best way to hear the latest positive news is to subscribe to our
Positive News for Positive Realtors(r) at
www.ListenandLearnRealEstate.com. Use this information when you work
with sellers and buyers as well as in your print and Web marketing.

2. Reluctant buyers lack urgency: To cope with reluctant buyers,
educate them on the cost of waiting to purchase. Rates are at
historic lows and may dip at least once more. By waiting, interest
rates will eventually creep up again. Here are two examples that
illustrate how expensive a one point interest rate increase can be:
On a $200,000 loan, an increase from 6 percent to 7 percent costs the
buyer an additional $47,340 over the life of the loan.
On a $400,000 loan, a one percent interest rate increase from 6
percent to 7 percent costs the buyer and additional $94,680 over the
life of the loan.

NAR Chief Economist Laurence Yun outlined the additional strategy of
promoting wealth building, especially for first-time buyers. The
Federal Reserve reports that the average renter accumulated $4,000 in
wealth between 1995 and 2004 versus the $184,400 average homeowners
accumulated. Another way of looking at this is that each year a
first-time buyer waits to purchase a property, it costs that buyer an
average of approximately $18,000 ($180,400/10 years).

3. Too many distressed properties: Two strategies suggested in the
book work quite well. The first is to create a Web site that lists
the best real estate buys in all categories including short sales,
foreclosures, REOs, as well as properties that are not distressed,
but are a good value. The second idea is to create a separate URL
where you specifically market these properties. Examples include
www.(YourTown)BestRealEstateBuys.com or
www.Best(YourTown)RealEstateDeals.com

"Transforming the Market in 2008" also outlines a number of buyer
acquisition strategies. Here are some examples:

1. Niche market for those who have disabilities: There are special
programs for both children and adults. When a family meets these
stringent criteria, loans are usually available.

2. Hold first-time buyer seminars in other languages: If you're
fluent in a different language, hold the seminars at your office or
by telephone. It's also smart to translate key parts of your Web site
into any language in which you are fluent.

3. Hold HUD or FHA seminars: Many buyers don't understand the
financing options available to them. HUD and FHA loans have lower
foreclosure rates and considerable savings as compared to subprime
loans. You could hold seminars at your Chamber of Commerce, place of
worship, or even a local school. You could also market to renters
with materials explaining how these various programs work.

4. Market to parents of college students: Hold a seminar on "How to
Buy Your First Investment Home and Save a Bundle on Dorm Costs." You
can also target medical and law students as well. Another suggestion
was to target grandparents. They can purchase a property when their
grandchildren are born. Once their grandchildren are ready to attend
college, they have the potential to have a home that is free and
clear.

5. Relocation strategies: Target new commercial construction and
lessees, especially if company is from outside the area. For example,
a new luxury hotel can generate one to three jobs per room. It's also
smart to establish relationships with local head hunters to stay
abreast of who may be relocating into your area.

6. Guarantee the buyer's satisfaction: (Check with your broker first
before embarking on any type of guarantee program.) Advertise that,
"If you you're not satisfied, we'll waive the listing side of the
commission if you decide to sell after one year."

Interested in more strategies from "Transforming the Real Estate
Market?" If so, don't miss next week's column.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
2. Welcome Notes
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Welcome to our new subscribers this week. Each week RealClues
provides you with great strategies to improve both your business and
your life. If you find this issue of RealClues helpful, take a moment
to hit the "forward" button and send it to another friend in the
business.

As we wrap up the year, it's a good time to look back and ask what
worked in 2007 and what did not. Are you generating enough leads? Are
you closing enough transactions? The ideas in today's column as well
as those from next week's column, will assist you in evaluating what
you could add to your business. What stops many of us from changing,
however, is the idea that to change, we must give up something. The
best way to approach change is to consider it terms of adding to what
you do already that is successful.

If you want to make changes in your business, the most critical piece
is your mind set. Buckminster Fuller said, "Environment is stronger
than will." What this means is that if our environment doesn't
support us to take the actions that we need to take, we will be
unable to do so. As you consider what you would like to keep in 2008
vs. what you would like to eliminate, also consider whether your
environment supports you to change. If you're surrounded by negative
agents who are whining about how bad the market is, avoid them.
Office at home or do your best to avoid their negative complaints. A
good way to stop the whine is to ask them, "Tell me something good
that has happened to you in the last week."

If you're having a day where the whiners are getting to you, go back
and listen to Positive News for Positive Realtors(r). In the very
near future, we will have a simple link you can click on that will
take you directly into Positive News. In the meantime, you can still
navigate there through our www.ListenandLearnRealEstate.com program.
By the way, if you want my very latest, greatest, and newest
material, ListenandLearnRealEstate.com is the place to get the most
cutting edge information in the industry. Best of all, it's less than
a $1.00 a day. If performing better in 2008 is one of your goals,
taking training to improve your core real estate skill set is the
smartest money that you can spend.

Have a great week!

Warmly, Bernice Ross, MCC, and Byron Van Arsdale, MCC
www.RealEstateCoach.com, www.LuxuryClues.com, www.RossdalePress.com,
www.ConferenceCallTraining.com, and www.TeleconferenceLine.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
3. Reprise: Back to Basics: Prospecting Expired Listings
(Part 2 of 2)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Expired listings can be a gold mine for your business. If you haven't
tapped into this lucrative niche, now is a great time to do so. Rates
are at historic lows and the Fed will probably lower them another _
point this week. This should result in more buyer activity. More
activity means more listings sold. Why not get the jump on the
competition now in December when many agents aren't working. To learn
more, here's the link:

http://www.realestatecoach.com/articles_archive/art200611expired2.html

In case you missed Part 1:
http://www.realestatecoach.com/articles_archive/art200611expired1.html

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
4. Create a Better Life: Santa and Grandma
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

This wonderful article comes from Cork Motsett who has retired from
our coaching team. It first ran in 2003 and is a wonderful reminder
of what matters during the holiday season.

I remember my first Christmas adventure with Grandma. I was just a
kid. I remember tearing across town on my bike to visit her on the
day my big sister dropped the bomb: "There is no Santa Claus," she
jeered. "Even dummies know that!"

My Grandma was not the gushy kind, never had been. I fled to her that
day because I knew she would be straight with me. I knew Grandma
always told the truth, and I knew that the truth
always went down a whole lot easier when swallowed with one of her
"world-famous" cinnamon buns. I knew they were world-famous, because
Grandma said so. It had to be true.

Grandma was home, and the buns were still warm. Between bites, I told
her everything. She was ready for me. "No Santa Claus?" she snorted.
"Ridiculous! Don't believe it. That rumor
has been going around for years, and it makes me mad, plain mad. Now,
put on your coat, and let's go."

"Go? Go where, Grandma?" I asked I hadn't even finished my second
world-famous cinnamon bun.

"Where" turned out to be Kerby's General Store, the one store in town
that had a little bit of just about everything. As we walked through
its doors, Grandma handed me ten dollars. That was a bundle in those
days.

"Take this money," she said, "and buy something for someone who needs
it. I'll wait for you in the car." Then she turned and walked out of
Kerby's.

I was only eight years old. I'd often gone shopping with my mother,
but never had I shopped for anything all by myself. The store seemed
big and crowded, full of people scrambling to finish their Christmas
shopping. For a few moments I just stood there, confused, clutching
that ten-dollar bill, wondering what to buy, and who on earth to buy
it for.

I thought of everybody I knew: my family, my friends, my neighbors,
the kids at school, and the people who went to my church. I was just
about thought out, when I suddenly thought of Bobby Decker. He was a
kid with bad breath and messy hair, and he sat right behind me in
Mrs. Pollock's grade-two class.

Bobby Decker didn't have a coat. I knew that because he never went
out to recess during the winter. His mother always wrote a note,
telling the teacher that he had a cough, but all we kids knew that
Bobby Decker didn't have a cough; he had no coat. I fingered the
ten-dollar bill with growing excitement. I would buy Bobby Decker a
coat!

I settled on a red corduroy one that had a hood to it. It looked real
warm, and he would like that. "Is this a Christmas present for
someone?" the lady behind the counter asked kindly, as I laid my ten
dollars down.

"Yes, ma'am," I replied shyly. "It's for Bobby." The nice lady smiled
at me. I didn't get any change, but she put the coat in a bag and
wished me a Merry Christmas.

That evening, Grandma helped me wrap the coat in Christmas paper and
ribbons (a little tag fell out of the coat, and Grandma tucked it in
her Bible). She asked me to write, "To Bobby, From Santa Claus" on
it. Grandma said that Santa always insisted on secrecy. Then she
drove me over to Bobby Decker's house, explaining as we went that I
was now and forever officially one of Santa's helpers.

Grandma parked down the street from Bobby's house, and she and I
crept noiselessly and hid in the bushes by his front walk.

Then Grandma gave me a nudge. "All right, Santa Claus," she
whispered, "get going." I took a deep breath, dashed for his front
door, threw the present down on his step, pounded his
doorbell and flew back to the safety of the bushes and Grandma.
Together we waited breathlessly in the darkness for the front door to
open.

Finally it did, and there stood Bobby. Fifty years haven't dimmed the
thrill of those moments spent shivering, beside my Grandma, in Bobby
Decker's bushes.

That night, I realized that those awful rumors about Santa Claus what
Grandma said they were: ridiculous. Santa was alive and well, and we
were on his team.

I still have the Bible, with the tag tucked inside: $19.95.

Wishing you a wonderful holiday season!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
5. Positive News for Positive Realtors(r)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

If you haven't listed to, "Chicken Little the Sky is Not Falling,"
click through right now for some good news that will put a small on
your face. This week the doom and gloom crowd is once again screaming
that the "Sky is falling." Their latest inaccurate prediction is that
2 million mortgages will go into foreclosure in 2008. That's 14
percent of all homeowners--I say baloney! Check out the reasons is
this week's Positive News for Positive Realtors(r).

http://listenandlearnrealestate.com/

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
6. Featured Products: Uncover the Secrets of Top Real Estate
Performance
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

In just five short hours all from the convenience of your car or
office! Now you can learn the secrets used by the most highly
acclaimed coaches in the country. Rather than spending thousands of
dollars and three years in training (like we did), you can now get
the equivalent of a year of full coaching for less than the price of
a single month in most coaching programs. How? Get our "Get Balanced
or Get Crazy" program. In it, Byron coaches me through six different
scenarios that happened during my real estate career that hurt my
production. At the end of each section, there are 10 tips to improve
your business. That's 60 tips--8 more than you need to complete one
per week in 2008! If you want a great business and a great life, this
simple audio CD program can help you reach the production level you
seek while affording you all the time you need to enjoy life as well.

To order this powerful program, click on the link below:

http://realestatecoach.com/training/coach.html

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
7. Increase Your Production with Personal Coaching
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Looking for a well-trained coach who knows the real estate business?
Our coaching team can help you increase your production and make your
dreams come true! Send an e-mail to Shane@RealEstateCoach.com and
we'll help find the right coach for you.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
8. Give Us Your Feedback On This Newsletter
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

We want your feedback-to share your thoughts and suggestions, please
e-mail us at Shane@RealEstateCoach.com.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
9. How to Subscribe/Unsubscribe
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Visit our Web site, http://www.RealEstateCoach.com to
subscribe/unsubscribe to RealClues.

Copyright (c) 1996-2007, RealEstateCoach.com and Teleclass4U.com,
LLC. All rights reserved. Permission is granted to reproduce, copy or
distribute RealClues as long as this copyright notice and full
information about contacting the contributors to this newsletter is
attached.

Contributors to this newsletter:
Bernice Ross, MCC, and Byron Van Arsdale, MCC, Owners,
www.RealEstateCoach.com, www.LuxuryClues.com,
www.ConferenceCallTraining.com; www.RossdalePress.com; and
www.TeleconferenceLine.com
Shane Bowlin, REC General Manager

GIVE A GIFT TO A FRIEND!

Please forward RealClues to your friends and colleagues, since your
recommendation is how we grow. Anyone can subscribe to RealClues by
visiting http://www.RealEstateCoach.com and signing up! To cancel,
visit the Web site and simply cancel your subscription.