10 Must Do For 2010


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  • 2007 34% Real Estate agent – down from 36% 29% Internet - up from 24% 14% - from Yard sign 8% - Home Builder 8 % friend
  • Note to Managers : This monthly slide allows you to report on your office’s Home Buyers Seminar attendance, success stories and other statistics. The slide also includes the dates for the next company-wide seminar.
  • Mike, let’s discuss what we are prepared to announce now.
  • 10 Must Do For 2010

    1. 1. Essex/Morris/Sussex Regional Sales Meeting Fall 2009
    2. 2. Please DO NOT turn off your cell phone. … .just put it on “vibrate.”
    3. 3. Jimmy Bucks
    4. 4. $500 Jimmy Bucks to the first person who answers this question correctly: How can you rearrange the letters in “new door” to make one word? Note: there is only one correct answer.
    5. 5. A Company-Wide Virtual Raffle Event – Sample Prizes A cool cruise to the Caribbean Flat Screen TVs Netbooks (mini laptops)
    6. 6. <ul><li>3 listings </li></ul><ul><li>3 Revenue Units </li></ul><ul><li>6 Open Houses </li></ul>September 1 st – December 21 st
    7. 7. 2010 Begins in about two weeks!
    8. 8. What do I mean by “Must Do”? (Things that work) 10 Must Do Action Items for 2010.
    9. 9. Before We Get Into That…..
    10. 11. The “story” is changing… Home sales appear to have hit a bottom but expect only a very modest upswing in coming months. While housing affordability is extremely elevated — reflecting the combined forces of low prices and low mortgage rates — we do expect the pace of home price declines to begin to slow noticeably in coming months. –David Greenlaw, Morgan Stanley
    11. 12. Next Price Trend
    12. 15. Economists Pronounce Recession Over Wall Street Journal 8-11-09
    13. 16. F ed survey shows US recession may be over Federal Reserve survey shows worst recession since World War II may be over WASHINGTON (AP) -- Economic activity is stabilizing or improving in the vast majority of the country, according to a government survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over. The Federal Reserve's snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other analysts that the economy has started to grow once again in the current quarter.
    14. 17. Duration of 2009 Forecast <ul><li>First-Time Buyers will continue to take advantage of $8,000 Federal Tax Credit </li></ul><ul><li>Historically Low Interest Rates </li></ul><ul><li>Affordable Home Prices – best in years </li></ul><ul><li>More Balanced Markets </li></ul>
    15. 18. Duration of 2009 Forecast <ul><li>Higher-Priced Markets/Inventory Still Feel the Pain, slow sales, further price declines imminent </li></ul><ul><li>Balance of year, revenue units will be 20% higher than 2008 </li></ul><ul><li>Weichert will continue to outpace general market </li></ul>
    16. 19. Chances of Raising Rate? Near Zero
    17. 20. Housing Affordability continues to hover near highest level in 18 years. Source: NAHB 8/19/09
    18. 23. Affordability is Key -Yun, NAR 8/2009 Lawrence Yun Chief Economist and Senior Vice President of Research NATIONAL ASSOCIATION OF REALTORS®. http://www.realtor.org/wps/wcm/connect/6d961c804f813c84af2aaf6bc7937a4b/Economist+Podcast_090809.mp3?MOD=AJPERES Podcast link:
    19. 24. According to the U.S. Bureau of the Census, the resident population of the United States, projected 09/22/09 at: 307,501,693 <ul><li>COMPONENT SETTINGS FOR SEPTEMBER 2009 </li></ul><ul><ul><li>One birth every.......................................... 7 seconds </li></ul></ul><ul><ul><li>One death every...................................... 13 seconds </li></ul></ul><ul><ul><li>One international migrant (net) every…... 35 seconds </li></ul></ul><ul><ul><li>Net gain of one person every.................. 10 seconds </li></ul></ul>2020 340 Million People 2030 372 Million People 2040 405 Million People 2050 440 Million People
    20. 25. Growth Offices –September 28 th <ul><li>West Orange Up 378% </li></ul><ul><li>Roxbury Up 200% </li></ul><ul><li>Vernon Up 150% </li></ul><ul><li>Hamburg Up 133% </li></ul><ul><li>Landing Up 88% </li></ul><ul><li>Mendham Up 67% </li></ul><ul><li>Mt. Lakes Up 67% </li></ul><ul><li>Randolph Up 67% </li></ul><ul><li>Parsippany Up 61 % </li></ul><ul><li>Chatham Up 40% </li></ul><ul><li>Kinnelon Up 38% </li></ul><ul><li>West Caldwell Up 33% </li></ul><ul><li>Livingston Up 29% </li></ul><ul><li>Madison Up 17% </li></ul><ul><li>Corp. Hqts Up 17% </li></ul><ul><li>Chester Up 4% </li></ul>
    21. 26. ReSale Listings Top Three As of 8/31/2009 Pam Willard Vernon Duffy Brennan Sparta Carol Brandon Landing/Lake Hopatcong
    22. 27. Sales Top Three As of 8/31/2009 Antje Virostek Corporate Headquarters Carol Brandon Landing/Lake Hopatcong Smith Ramchandani Morristown West
    23. 28. Combined Revenue Units Top Three As of 8/31/2009 Kelly Mitchell Vernon Smitha Ramchandani Morristown West Gary Ribe Roxbury
    24. 29. Essex/Morris/Sussex Region Top 20 <ul><li>Diane Saland, Short HIlls </li></ul><ul><li>Antje Virostek, Corp. Headquarters </li></ul><ul><li>Carol Brandon, Landing </li></ul><ul><li>Diane White, Short Hills </li></ul><ul><li>Marjory Davis, Short Hills </li></ul><ul><li>Gary Ribe, Roxbury </li></ul><ul><li>Sharon Hughes, Mendham </li></ul>
    25. 30. Essex/Morris/Sussex Region Top 20 <ul><li>Mary Weichert, Chatham </li></ul><ul><li>Didi Rosen, Livingston </li></ul><ul><li>Eileen Scott, Mendham </li></ul><ul><li>Audrey Katz, Livingston </li></ul><ul><li>Shari Miller, Livingston </li></ul><ul><li>Dawn Corbo, Sparta </li></ul><ul><li>Brenda Klipper, Corp. Headquarters </li></ul>
    26. 31. Essex/Morris/Sussex Region Top 20 <ul><li>Arlene Gonnella, Short Hills </li></ul><ul><li>Marlene Vegter, Madison </li></ul><ul><li>Smitha Ramchandani, Mo-West </li></ul><ul><li>Cherre Shwartz, Maplewood </li></ul><ul><li>Nancy, Doyne, Corp. Headquarters </li></ul><ul><li>Lindy Peteet, Mendham </li></ul>
    27. 32. Essex County, Closed Units As of August 31st , 2009
    28. 33. Morris County Closed Units As of August 31 st , 2009
    29. 34. Sussex County Closed Units As of August 31 st , 2009
    30. 35. Warren County Closed Units As of August 31 st , 2009
    31. 36. #1 Must Do Get Social with Social Media. 10 Must Do Action Items for 2010.
    32. 37. <ul><li>50% of all leads generated within the next five years will be thru social media sites </li></ul><ul><li>- NAR </li></ul>
    33. 39. Social Networking Sites Facebook, Linkedln and Twitter <ul><li>Facebook </li></ul><ul><ul><li>More then 250 million active users </li></ul></ul><ul><ul><li>More than 120 million users log on to Facebook at least once each day </li></ul></ul><ul><ul><li>The fastest growing demographic is those 35 years old and older </li></ul></ul><ul><ul><li>Great way to connect with people </li></ul></ul><ul><ul><li>Great way to get referrals </li></ul></ul>
    34. 40. 5 Simple Ways to Get Started <ul><li>Set up your profile on </li></ul><ul><li>Set up your Slideshare application </li></ul><ul><li>Get started on </li></ul><ul><li>Answer Questions on Trulia Voices </li></ul><ul><li>Answer Questions on Zillow Advice </li></ul>
    35. 42. #2 Must Do Harness the Power of Face to Face. (more scarce = more impactful) 10 Must Do Action Items for 2010.
    36. 44. The End Game
    37. 45. “ I canceled my $4,500 web site and I’m using the money to host dinner parties.”
    38. 46. #3 Must Do Create a “Tax Credit” Mentality with Buyers. 10 Must Do Action Items for 2010.
    39. 47. Tick Tock <ul><li>Mortgage Application Deadline – 10/15/2009 </li></ul><ul><li>That ’ s less than 30 days away! </li></ul>. 71 Why So Impactful?
    40. 49. Recent Sale Date Property Sales Price Previous Sale Date Previous Sales Price Percent of Change 8/09 1 Copperfield Way, Randolph $575,000 2/05 $730,000 -21% 9/09 10 Condit, Mt. Lakes $1,075,000 11/06 $1,275,000 -18.6% 9/09 3 Heritage, Basking Ridge $1,200,000 6/06 $1,610,000 -25% 6/09 30 Louis Drive, Mt. Olive $485,000 5/05 $685,000 -29% 8/09 9 Old Fordge Oxford $271,500 9/04 $335,000 - 19% 9/09 44 Ridgedale, Morristown $340,000 6/05 $376,000 -10%
    41. 50. “ The sale is made based on the belief of the salesperson, not the belief of the prospect.”
    42. 51. The 'V' Tool
    43. 52. Step 1: Mentally think of a number from 1 up to 10. Step 2: Take that number and multiply by 9. Step 3: Take the result and add the number together (i.e. 72 = 7+2). Step 4: Take that number and subtract 5. Step 5: Take that result and equate it to a letter of the alphabet (i.e. 1=A, 2=B, etc). Step 6: Think of a country beginning with that letter. Step 7: Think of an animal that begins with the second letter of the country name. &quot;How many people are thinking of elephants in Denmark?&quot; I’m going someplace with this…
    44. 53. Seeing the Opportunity <ul><li>Let’s do this at our tables: </li></ul><ul><li>Draw a V on a piece of paper </li></ul><ul><li>The top of the V is high, the bottom is low </li></ul><ul><li>Put a dot on the Prices line to indicate where you think prices are right now. </li></ul><ul><li>Put a dot on the Rates line to indicate where you think rates are right now. </li></ul>Prices Rates High Mid-Range Low
    45. 54. #4 Must Do Work the Trade Up. (significant improvement spring 2010) 10 Must Do Action Items for 2010.
    46. 55. The 'Move Up' Tool
    47. 56. Your Home vs. the Home You’ll Purchase If the home you’re purchasing when you’re moving up has adjusted the same percentage of its value as the home you’re selling, your move is now more affordable. Home A Home B Cost of Upgrade Past Current Difference
    48. 57. Your Home vs. the Home You’ll Purchase - 10% $300,000 $500,000 $270,000 $450,000 $200,000 $180,000 $20,000 Savings - 10% Home A Home B Cost of Upgrade Past Current Difference
    49. 58. Key Points to Remember <ul><li>Sellers may be afraid to lose money in this market. </li></ul><ul><li>Help them see how much money they can save by moving up in a declining market. </li></ul><ul><li>Keep in mind… this approach only works for people moving into a higher-value home that’s declining at the same rate or greater . </li></ul>
    50. 59. #5 Must Do Ask for your full fee and negotiate from there . 10 Must Do Action Items for 2010.
    51. 61. 2.5% to 3.5% is a ______ increase. 40%
    52. 62. 2.5% to 3.0% is a ______ increase. 20%
    53. 63. #6 Must Do “ UP” Your Personal Brand Image. 10 Must Do Action Items for 2010.
    54. 64. New Weichert Signs (soon)
    55. 65. Touch Points: (Based on Actual Customer Feedback) <ul><li>Signs: no stickers (name and cell) </li></ul><ul><li>Open House Handouts: (customized with your name and contact, color, etc) </li></ul><ul><li>Property Brochures in your listings: use Quantum Copy type quality brochures </li></ul><ul><li>Personal Web site: Professional, Clean, Free of Clutter, Updated </li></ul><ul><li>Business Cards: Current & Professional photo </li></ul><ul><li>Car: Must be clean </li></ul>
    56. 66. #7 Must Do Build your E-Marketing Database @ www.weichertimail.com 10 Must Do Action Items for 2010.
    57. 67. www.weichertimail.com
    58. 68. What do you do with these? Email@
    59. 70. #8 Must Do Utilize Postlets (or like distribution service). 10 Must Do Action Items for 2010.
    60. 72. #9 Must Do Leverage Weichert.Com 10 Must Do Action Items for 2010.
    61. 74. <ul><li>Already working with an Agent and using the site to search for homes </li></ul><ul><li>Past Customers who will decide to use the same agent again </li></ul><ul><li>Going to ask a friend who to use </li></ul><ul><li>Taking offline action </li></ul>2% of Weichert.com visitors contact WLN 98% of our Visitors are: 2% contact WLN In August Weichert.com had 1,449,069 unique visitors, only 27,125 contacted WLN
    62. 75. Associate Profile pages Agent profile pages combined can get 200,000 to 300,000 views per month Make sure your profile is updated on WeichertOne.com!
    63. 76. Leverage Weichert.Com
    64. 77. 84 Farley, Short Hills $2,900,000
    65. 78. 1 Park Place, Short Hills $3,495,000
    66. 79. #10 Must Do Never….Ever…Ever…. 10 Must Do Action Items for 2010. … .Forget How Important Your Job is to People.
    67. 80. The Top 10 Must Do Actions For 2010 <ul><li>Engage in Social Media </li></ul><ul><li>Harness the power of Face to Face </li></ul><ul><li>Create a “Tax Credit” mentality with buyers </li></ul><ul><li>Work the Trade Up </li></ul><ul><li>Ask for the full fee and then you can negotiate </li></ul><ul><li>“ UP” your brand image </li></ul><ul><li>Build your e-marketing database </li></ul><ul><li>Utilize Postlets (or other distribution sites) </li></ul><ul><li>Leverage Weichert.Com </li></ul><ul><li>Never, ever forget how important your job is </li></ul>
    68. 81. Questions for me?