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You Snooze You Lose
You Snooze You Lose
You Snooze You Lose
You Snooze You Lose
You Snooze You Lose
You Snooze You Lose
You Snooze You Lose
You Snooze You Lose
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You Snooze You Lose

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  • 1. You Snooze You Lose” Twelve Trends to Take Your Business to the Top in 2009 1 Maricopa Association of REALTORS® You Snooze You Lose Twelve Trends and Twelve Opportunities to Take Your Business to the Top in 2010 Bernice Ross, CEO, RealEstateCoach.com Obtain this handout at www.RealEstateCoach.com/handout Learning Objectives: In today’s session you will learn: 1. Twelve trends and twelve opportunities to grow your business in 2010. 2. How to improve your communication skills including guidelines for working with generational communication differences. 3. How to implement the latest technological trends into your business including syndication strategies, blogging, and social networking. 4. How to use innovation to keep your business strong. I. Economic Trends A. Trend #1: The real story about the foreclosure market. 1. The bad news: FHA, Freddie, and Fannie are sitting on approximately 750,000 foreclosed properties with a value of over $26 billion. These properties will be coming on the market in 2010 and could lead to further price declines. 2. The good news: a. 35 percent of homes in the U.S. do not have a mortgage. b. New home and resale inventory is declining nationally. c. Unit sales are up in the hardest hit areas. d. There is a tsunami of pent up demand among first time buyers. Over 1.2 million buyers purchased using the $8,000 tax credit. e. All real estate is local. Track days on market, unit sales, and months of inventory—best predictors of where your local market is heading. HappyRENews.com 3. Opportunity #1: Become a distressed property workout specialist. a. Help owners who are in financial trouble negotiate a workout on their property through HopeNow.com. b. Consider hiring a consumer advocate attorney from NACA.net c. Determine if lender will allow an assumption or a “lease to buy.” d. Prospecting strategy: If prices have decreased in your local area, assist current owners in getting a reduction in their property taxes. Copyright 2009, Bernice Ross • RealEstateCoach.com • 12400 Hwy 71 W. Suite 350-343 • Austin, TX USA 78738 • 512-263-2986 • Email: Bernice@RealEstateCoach.com
  • 2. You Snooze You Lose” Twelve Trends to Take Your Business to the Top in 2009 2 Maricopa Association of REALTORS® Trend #2: Real estate—still the best shelter 1. Reasons to buy now. a. Plenty of inventory, historically low interest rates, and a considerable amount of great bargains due to foreclosures. b. Deficit spending will probably result in inflation. Real estate is one of the best hedges against inflation. 2. Opportunity #2: Get first time buyers off the fence and under contract a. Work with rent calculators to make this determination b. Example: Buyer’s rent is $1,500. Purchase price is $300,000. Down payment is $30,000. Thirty-year loan of $270,000 at 6.25 percent. Buyer owns property for 8 years and is the in the 28 percent bracket. Rent and property appreciate at 2.54 percent per year (inflation rate) c. Cost of renting $142,016. d. Cost of buying with tax benefit $117,754. e. Buyer saves $24,262. 3. Your secret weapon: wealth accumulation. a. From 1995 to 2004, the average renter lost wealth. In contrast, the average homeowner accumulated $60,000 of wealth through homeownership. 4. What if prices go down—show them the net cost of waiting. Interest Rates and the Cost of Waiting to Purchase $200,000 loan (numbers rounded to the nearest whole dollar) Interest Monthly Monthly Annual cost 30 year cost 30 year cost Rate Payment cost 1% 1% increase for 1 percent for 2 increase increase percent increase 6% to 7% 1199 to 132 1578 47,340 1331 7% to 8% 1331 to 137 1643 49,280 $96,620 1468 (6% to 8%) 8% to 9% 1468 to 141 1692 50,760 $100,040 1609 (7% to 9%) C. Trend #3: More investment sales 1. Smart investors are contrarians (Trump, Buffet) 2. 1.65 million investment sales this year vs. approximately 5 million residential sales. Copyright 2009, Bernice Ross • RealEstateCoach.com • 12400 Hwy 71 W. Suite 350-343 • Austin, TX USA 78738 • 512-263-2986 • Email: Bernice@RealEstateCoach.com
  • 3. You Snooze You Lose” Twelve Trends to Take Your Business to the Top in 2009 3 Maricopa Association of REALTORS® 3. Average investor purchases two properties per year. Low rates = more cash flow 4. Opportunity #3: Look for opportunities with 2-4 unit properties as a retirement fund builder, college fund, or Gen Y investment goal. III. Demographic trends A. Trend #4: Globalization of the U.S. Real Estate Market 1. Foreign buyers have a _____ percent close ratio compared to less than ____ percent for domestic clients. 2. Global agents make ____ percent more than those who do not work with global clients. 3. Opportunity #4: Market your listings internationally a. Point2Agent.com syndicates to 40 different real estate web portals and over 200,000 agent sites in over 100 countries. b. Immobel.com (best source for France) translates your listings in to multiple languages. c. Proxio.com provides translation, international marketing alliance, plus social networking. B. Trend #5: Different age groups require different styles of communication 1. Traditionalists: born before 1946 prefer handwritten notes, face-to-face, and telephone communication. Many lack computer skills. Expertise and trust matter. 2. Baby Boomers born 1946 to 1964: Communicate with them by phone, email, or snail mail. They want relationships first, not information. 3. Gen X: born 1965 to 1976: Highly independent, prefer information, not relationship. They prefer texting and messages on social networking sites such as Facebook, MySpace, and Twitter. 4. Gen Y or Millennials: 1977 to 1994—very collaborative. Like Gen X, text message and meet up on Facebook, SecondLife.com, Twitter, and YouTube. 5. Opportunity #5: Communicate the way your clients want to receive information. a. Put cold calling on ice b. Take your pictures off your postcards use your website address instead c. Most popular leave behinds: _________________________________ d. You’re not selling real estate, you’re selling _____________________ e. Benefits focused, not features focused. Less ___________ more _____________! Copyright 2009, Bernice Ross • RealEstateCoach.com • 12400 Hwy 71 W. Suite 350-343 • Austin, TX USA 78738 • 512-263-2986 • Email: Bernice@RealEstateCoach.com
  • 4. You Snooze You Lose” Twelve Trends to Take Your Business to the Top in 2009 4 Maricopa Association of REALTORS® f. Go for win-win, ask questions (It’s your choice, what would you like to do?), and remember, it’s their house and it’s their decision. g. Use Jott! C. Trend #6: More single women purchasing real estate 1. 25 percent of first time buyers are single females, 21 percent of all resales are with single females vs. 9 percent for single men. 2. Opportunity #6: Make Single Females an Important Niche in Your Business a. U.S. Census, 51% of women live without a spouse and 57 percent of all college graduates are women. Women inherit and accumulate more wealth than men. b. More small businesses owned by women who work from home. c. Gen X and Gen Y Females are buying investments first rather than single family homes. d. Gen X and Gen Y like urban, loft living while Boomers and Traditionalists prefer condos near family. e. Find them doing volunteer work, community activities, at schools and on social networking sites. IV. General Technology Trends A. Trend #7: Crackberries and iPodification 1. Services are going mobile and being integrated into single platforms— iPhone and Google’s Android. 2. MIT study on Internet lead conversion times: follow-up within 5 minutes and you will convert 79 percent of your leads into business. If you wait 30 minutes, that number drops to 34 percent. 3. Opportunity #7: a. Obtain a dot-mobi address that uses short links rather than descriptions. b. Use your cell phone to respond quickly to all leads. c. Market using “SMS” technology that optimizes your listings for cell phones. (Transpera.com, VFlyer.com, or Realbird.com) B. Trend #8: Videozation of the web. 1. Video communication is making face-to-face skills important again. Flip Mino produces HDTV quality for under $250. 2. Video improves your SEO—new Google software can “read” video content. 3. The next generation of blogging: “Vlogging:” (video blogging): Not a good writer? Use a simple video camera on your computer to create a VLOG—a Copyright 2009, Bernice Ross • RealEstateCoach.com • 12400 Hwy 71 W. Suite 350-343 • Austin, TX USA 78738 • 512-263-2986 • Email: Bernice@RealEstateCoach.com
  • 5. You Snooze You Lose” Twelve Trends to Take Your Business to the Top in 2009 5 Maricopa Association of REALTORS® video blog. You can also do an update on new listings, mortgage shifts, interesting community information, etc. 4. Syndicate your videos to 15 different sites including YouTube, Yahoo and Google video at no charge through TubeMogul.com 5. Use your smart phone to make a video clip and post it online including on Facebook, YouTube, and iTunes. 6. Opportunity #8: Eight ways to use video to build your business. a. Preview neighborhoods for out of area clients. b. Live like a local tour showing the highlights of the lifestyle in your area (restaurants, recreation, etc.) c. Video mail, not email. Most services are free. Recipients click on the link to see your message. d. Interview mortgage, title, and other professionals to explain the closing and sale process in your area. e. Get a jump on the competition—make video previews of properties for clients. f. Architectural tour of notable local properties. g. Video testimonials h. Use Skype or Tokbox to communicate for free from your computer using your web cam. V. Real Estate Technology Trends A. Trend #9: Hyperlocalism 1. Hyperlocalism is the key to profitability both on and offline. The new model is: International/National Company  Regional/Local Company  Agent Hyperlocal. 2. Become the Mayor of your zip code: Let your posts, your website, and/or blog be about the lifestyle in your area. Get “Google juice” by adding podcasts and video. 3. Opportunity #9: Own your niche: a. Who are the people in your target market (age, income, number of people in family, etc.) b. What are their lifestyles like including recreational activities, where do they work and play? Examples: www.MiamiCondoLlifestyle.com and www.GoArmyHomes.com. c. Obtain URLs to match your niches: PhoenixViewHomes.com, ScottsdaleGolfCourseRealEstate.com; LiveinScottsdale85252.com Copyright 2009, Bernice Ross • RealEstateCoach.com • 12400 Hwy 71 W. Suite 350-343 • Austin, TX USA 78738 • 512-263-2986 • Email: Bernice@RealEstateCoach.com
  • 6. You Snooze You Lose” Twelve Trends to Take Your Business to the Top in 2009 6 Maricopa Association of REALTORS® B. Trend #10: Join the Social Media Marketing Revolution 1. You are what you publish. Emphasis on word of mouth and viral marketing —get someone else to tell your story. Blogs, podcasts, and vlogs create trust and credibility. 2. Protect your online reputation by filling out a profile page on major social media sites. 3. Track your reputation with Google Alerts and “Step Rep” from MyFrontSteps.com. 4. Opportunity #10: An hour per day drives business your way—Ten ways to market your business at little or no cost using Web 2.0 tools. a. Use landing pages on your website coupled with “give to get marketing.” Closing is no longer about manipulation, but offering service and seeking those leads who want that service. b. Syndicate your listings to 30 major web portals with Point2 agent plus well over 100,000 member websites with their Agent Handshake program. Their partners include CraigsList, Facebook, Trulia, YahooAds.com, GoogleBase, eBay, and Zillow. c. Join the online conversation as a blogger 1. Benefits: better search engine placement, inexpensive, clients learn to trust you, little competition. 2. Blogging tips: FAQ from past emails, take your own pictures and videos, post information about local events, involve your community, have fun, use Jott! d. Link up on LinkedIn—Testimonial exchange and preferred provider list. e. Get your Face on Facebook 1. Profile page: best for personal, but can also use password protected “group pages” for this purpose as well. 2. Group pages: not searchable, can be open to everyone or password protected. 3. Fan pages: best strategy for marketing on Facebook 4. Facebook marketplace: like eBay—no charge to post your listings and/or open houses. f. Send short and sweet “tweets” on Twitter 1. If you don’t have a Twitter account, go to www.Monitter.com and plug in a topic that you find interesting. You can see the live tweets on any topic. 2. Tweetdeck is best tool for managing your Twitter account. Copyright 2009, Bernice Ross • RealEstateCoach.com • 12400 Hwy 71 W. Suite 350-343 • Austin, TX USA 78738 • 512-263-2986 • Email: Bernice@RealEstateCoach.com
  • 7. You Snooze You Lose” Twelve Trends to Take Your Business to the Top in 2009 7 Maricopa Association of REALTORS® 2. Use Twellow, NearbyTweets, and WhoShouldIFollow.com to find people to follow. 3. Use the following links from Stefan Swanepohl to locate and follow 200 Influential and Interesting Real Estate People http://is.gd/3qBKV and http://is.gd/3B5pw g. Post a profile on Trulia and Zillow and answer client questions to build your exposure and online credibility. h. Develop referral leads through agent-to-agent networking, using ActiveRain or RealTown. i. Post luxury estates ($1 million+) free on UniqueGlobalEstates.com. j. Track results with Point2, Google Analytics, or GetClicky.com—great way to obtain price reductions. C. Trend #11: Mash it up and make it sticky 1. Don’t want to blog—mash-ups (different applications on one site— mapping, online price evaluation, polling tools, video, etc.) are for you! 2. Opportunity #11: Make it sticky a. Inexpensive says to mash-up your site include Gasbuddy.com, Eventful.com, and WalkScore.com. VI. Houses of the Future A. Trend #12: What’s old is new and what’s new is surprising! 1. Smarter houses, solar powered houses, “self-healing” houses, straw houses, and houses made of recycled products. 2. Opportunity #12: Niche your business to specialize in helping owners implement “green” solutions when they build or purchase. VII. Two surprising technologies that may find their way into your business A. 3-D Interactivity Married with Nanotechnology 1. UnitedLane.com/RealEstateCoach/ 3-D interactive virtual tours 2. Nokia’s Morph VIII. What steps will you take? (Bernice’s Top 12 Recommendations) A. Start with a profile page on the major social media sites to protect your online identity. B. Track your identity on GoogleAlerts.com and Step Rep. C. Select a narrow niche and obtain the appropriate URLs to update your website. D. Revamp your website for 2010 using the MiamiCondoLifestyle model. E. Post at least 20 pictures for every one of your listings. Use video when possible. Copyright 2009, Bernice Ross • RealEstateCoach.com • 12400 Hwy 71 W. Suite 350-343 • Austin, TX USA 78738 • 512-263-2986 • Email: Bernice@RealEstateCoach.com
  • 8. You Snooze You Lose” Twelve Trends to Take Your Business to the Top in 2009 8 Maricopa Association of REALTORS® F. Syndicate your videos on TubeMogul.com and your listings on Point2Agent three month free trial at http://budurl.com/6dm9 G. Write testimonials for your five best clients and/or service providers on LinkedIn. H. Set up a Facebook fan page using the “I love my area” campaign. I. Join Twitter and follow 200 influential people in real estate using the link in today’s session with a single click of your mouse. J. Answer questions for consumers on sites such as Trulia and Zillow. K. Track results with Google Analytics L. Convert more listing appointments (especially with REOs) using www.UnitedLane.com/RealEstateCoach 3-D virtual interactive tour technology. Resources from Today’s Session 1. To order Bernice’s newest book, Real Estate Dough—Your Recipe for Real Estate Success, her exciting new game, Real Estate Dough Negotiation, or her best selling book Waging War on Real Estate’s Discounters that shows you how to net more money for both you and your sellers, visit www.RealEstateCoach.com. 2. If you liked today’s session, you can get over 50 hours of training, interviews with real estate’s top performers, plus Bernice’s latest updates on how to stay ahead of the competition through our Listen and Learn Audio Learning Program. Over 80 different sessions (10-20 minutes each) that you can listen to in your car or on your iPod or MP3 player. http://listenandlearnrealestate.com 3. To subscribe to our FREE NEWSLETTER, order any of our comprehensive training programs, to hire a real estate coach, or to order our Audio CD Scripts Library with over 220 real estate scripts on audio CD, visit www.RealEstateCoach.com. 4. To learn more about working with luxury properties and to be “in the know” about the luxury market, visit our blog at www.LuxuryClues.com. 5. To learn more about how to implement Call Capture in your business, visit: http:// www.realestatecoach.com/marketing/proquest.html 6. To participate in the National Listing Service, publish your listings on multiple international websites, plus to create a website that actually converts leads and supplies drip marketing for only $9.95 per month visit: http://budurl.com/6dm9 7. For expired listing leads including tracking of FSBO and call capture leads, plus mail merge program, visit http://www.realestatecoach.com/marketing/redx.html 8. To decorate your houses on-line and track room views, visit www.UnitedLane.com/ RealEstateCoach Copyright 2009, Bernice Ross • RealEstateCoach.com • 12400 Hwy 71 W. Suite 350-343 • Austin, TX USA 78738 • 512-263-2986 • Email: Bernice@RealEstateCoach.com

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