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Unreasonable Clients; Zillow/Trulia Merger; Market Snapshot

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Berkshire Hathaway Homesale Realty (Chambersburg Office) sales meeting revolving around three current issues: Zillow/Trulia Merger and what it means to real estate companies and agents; the rise of Unreasonable Clients and how to deal with them as an agent; understanding your market and how to use information to be a Counselor instead of a Facilitator in real estate transactions.

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Unreasonable Clients; Zillow/Trulia Merger; Market Snapshot

  1. 1. August 19, 2014 1 CHAMBERSBURG OFFICE SALES MEETING • Zillow/Trulia Merger • Unreasonable Clients • Market Snapshot
  2. 2. 2 ZILLOW/TRULIA MERGER So what does it mean to me?
  3. 3. 3 ZILLOW/TRULIA MERGER
  4. 4. 4 ZILLOW/TRULIA MERGER
  5. 5. 5 ZILLOW/TRULIA MERGER
  6. 6. 6 ZILLOW/TRULIA MERGER
  7. 7. 7 ZILLOW/TRULIA MERGER
  8. 8. 8 ZILLOW/TRULIA MERGER We’re not in the information business. We analyze the information so that people can make better decisions.
  9. 9. 9 ZILLOW/TRULIA MERGER
  10. 10. 10 ZILLOW/TRULIA MERGER They may have found the boxcar, but now they have to navigate the track.
  11. 11. 11 UNREASONABLE CLIENTS
  12. 12. 12 UNREASONABLE CLIENTS https://www.youtube.com/watch?v=R2a8TRSgzZY
  13. 13. 13 UNREASONABLE CLIENTS 1. Maintain your patience and professionalism 2. Address expectations up front – don’t assume anything 3. Probe to find the root of their unreasonableness 4. Address it by fixing the problem or say ‘No’
  14. 14. 14 UNREASONABLE CLIENTS “If the honeymoon isn’t going real well, chances are the marriage won’t be much better.” - Brian Buffini
  15. 15. 15 UNREASONABLE CLIENTS “When you make it clear (and then deliver) on the promise that your best work goes to those that are clear, respectful and patient, you become a specialist in having customers just like that.” - Seth Godin
  16. 16. 16 MARKET SNAPSHOT “So how is the market? Is now a good time to buy or sell?” Are you answering as a ‘Counselor’ or ‘Facilitator’? Cookout Tailgating Shopping
  17. 17. 17 MARKET SNAPSHOT 1. All real estate is local. Know your local market. Median Sold Price: $169,900 (+6.9% from July 2013) Closed Sales YTD: 797 (+4.3% from last year) Average Days on Market: 125 (+19.05% from July 2013) SOURCE: MRIS
  18. 18. 18 MARKET SNAPSHOT 2. Real estate as an investment stands up pretty well.
  19. 19. 19 MARKET SNAPSHOT 3. Percentage of distressed property sales is WAY down. January 2012 January 2013 July 2014
  20. 20. 20 MARKET SNAPSHOT 4. Millennials aren’t buying homes. Really? (Homeownership rates by age group when they were 25-29 years old)
  21. 21. 21 MARKET SNAPSHOT 4. Millennials aren’t buying homes. Really? (% of each age group planning to buy a home in the next 12 months)
  22. 22. 22 MARKET SNAPSHOT 5. Purchasing power decreases as interest rates go up (and they will). -2.5% -5.0% -7.5% -10.0% For every 1% increase in interest rates there is a drop of 10% in purchasing power.
  23. 23. 23 MARKET SNAPSHOT 5. It’s now cheaper to buy then rent . . . by a wide margin! Buying is CHEAPER than renting in ALL of the 100 largest metros by and average of . . . 38% SOURCE: Trulia (3/14)
  24. 24. 24 MARKET SNAPSHOT 6. Homeowners are worth more than renters. How much more? 30X
  25. 25. 25 MARKET SNAPSHOT 7. Optimism is returning to the real estate market. 2006 2012
  26. 26. 26 MARKET SNAPSHOT Are you ready to be a ‘Counselor’ or will you be satisfied with being a ‘Facilitator’?
  27. 27. 27 CUSTOMER FEEDBACK
  28. 28. 28 NEW LISTINGS
  29. 29. 29 WINGS & BEER Today 4:00–6:00 PM Relax-Enjoy
  30. 30. 30 ABOUT THE PRESENTER Tom Blefko is a real estate broker with over thirty years experience in all facets of the residential and commercial real estate industry including sales, leasing, office management, property management, development, construction and training. During the course of his career, he has been an award-winning salesperson and assisted other agents in negotiating and closing over one thousand real estate transactions. Contact Information: Tom Blefko, Associate Broker Berkshire Hathaway Homesale Realty Office: (717) 267-3222 Cell: (717) 587-6600 E-Mail: TBlefko@Homesale.com

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