NOTICE: In an effort to better the offerings of KCM, this free monthly newsletter will now focus on what each real estate professional needs to be doing right now in order to stay ahead. Each month we will give you 5 Quick Tips to help you achieve success in your market, as well as some inspirational words to keep you going. Therefore, we have decided to rename it KCM Quick Tips. If you are looking for more news-related articles, hop on over to The KCM Blog, and if you’re interested in seeing more visuals that you can share with your clients, discover the benefits of a KCM membership.
1. We must make sure we have our pricing presentations down pat.
Pricing will be a major issue over the next 4-5 months. NAR has just reported that, in the third quarter, prices have fallen in more than half of the country. Most experts agree that prices will continue to soften until at least the middle of 2011. You will need great pricing visuals and dialogue for your listing and price correction appointments. Pricing will also be an issue whenever an offer is being negotiated. Be prepared to discuss the issue with both sellers and their listing agents.
In the next several issues of Keeping Current MattersTM (KCM) we will arm subscribers with at least 5 visuals a month on the pricing component of their presentations. That is how important we believe this issue will be to an agent’s success in 2011.
2. We must make sure we are working FSBOs and Expired Listings.
Please do not assume that the FSBOs that have not sold or that the expired listings are not worth your prospecting efforts. In almost every case, improper pricing will have been the issue. Will a percentage just not be motivated? Of course. However, there will also be a percentage that just didn’t understand how to price the house properly. Remember, good agents can deliver good news but only great agents can deliver tough news. In today’s market, pricing has become a tough discussion. Many of those expired listings weren’t lucky enough to have a great agent. Be that great agent for them. Contact them and set an appointment to discuss how you can help them understand the current market.
If you need help finding and contacting FSBOs and Expireds, take a look at RedX* (http://www.theredx.com). They are a great asset to any agent who has determined to make these two categories a part of their 2011 income.
*We receive absolutely no benefit either financially or otherwise if you subscribe. We just want to pass along a service some agents have been asking about, we have checked out, and believe can help you.
3. We must read NAR’s 2010 Profile of Home Buyers and Sellers
It’s free and jam-packed with great information. Why is newspaper advertising no longer significant when marketing a home? Are industry web sites more powerful than private listing sites? How many agents does a seller interview before listing their home? Don’t miss this fabulous piece from NAR.
You can download it at http://www.realtor.org (sorry, a direct link is not available)
In December, we plan to break down the best of the report into useful graphs and charts for easy use by subscribers of KCM. As always, it will be ready for download no later than the 10th of the month.
4. We must ‘work’ every holiday party.
Be very visible and vocal this holiday season. When attending parties and family get-togethers, remember people will look to you to explain how the housing industry is doing. Be proactive in helping people see the tremendous opportunities in this market.
Not sure what those opportunities are? Spend some time on The KCM Blog (http://www.KCMblog.com) for some ideas. It’s free!
5. We must be prepared to ‘snap back’ the first week of January.
Don’t be one of those agents who spends the first two weeks of January ‘getting ready’ to do business. Get your presentations, marketing programs and prospecting plans organized in December. That way you hit the ground running as the New Year begins. That head start will pay dividends for months. Jump out in front in order to stay out in front throughout the year!!
If the KCM Crew can ever do anything to assist you in achieving your goals, please contact us!!