The National Association of REALTORS® released an infographic this week on their average member profiles. One interesting statistic: the average agent earned 21% of his or her business through repeat clients and 21% through past client and customer referrals. How do your stats stack up?
Q: Denise, I have been approached by my city’s tourism bureau to advertise in their publication. I can get a quarter page ad for $300. Is this a good deal?
A: I love questions like this!
I have not seen one-shot advertising like this to be very effective. However, when combined with an advertising campaign, it can be VERY effective!
Here’s what I mean: Imagine you said yes to this publication, put down your $300, and probably another $150 to have an ad made. You are now out $450. But do you know where your ad will be placed in the publication? Is your ad going to be buried somewhere in the middle or towards the end? And are there are seven other agents advertising in the same publication – perhaps some with half or full page ads? If so, then your $450 ad is going to get lost in the shuffle. Read more »
We have gone from a very slow market to a very busy market. Believe it or not it is in this type of market that agents are facing conflict in their transactions. Conflict could show up as buyers fighting to win at their offers or sellers wondering why they need to pay full commission when their home may only be on the market for a day or two before they are presented with multiple offers.
Conflict is a normal part of a life. Conflict can be as simple as noticing your spouse hasn’t put his or her dishes in the dishwasher after a meal or as complex as two neighbors disputing about their property line – or even worse! Having conflict doesn’t necessarily mean that something is broken; it just means there are two different opinions (or more) about how something should be handled. Because so many of us have been raised either in households which saw a lot of conflict or perhaps avoided conflict, most people bring these preconceived notions of how to handle conflict into the workplace. Unfortunately, this causes people who are faced with conflict to have an emotional response rather than following a strategic formula for handling it. Read more »
Carol Ebbs, one of our Instant Identity Marketing Makeover Clients, choose a design from our Gallery called “Ouch!” (as it originally featured cactus photography!) Carol wanted to have a creative and artistic design that was “outside-the-box”. She was also interested in using photography to highlight the natural beauty of her location, in Clarkston, WA. During the creative process, the tagline, “Guiding You Home” was integrated as a nod to the early explorers, Lewis and Clark – the namesakes of the twin cities of Clarkston and Lewiston. Carol also has a love for color and wanted to highlight sage greens and mustard yellows. As you can see, her finalized design shows of the beautiful Northwest and those vibrant colors found in nature. Finished off with a flowing, decorative font, Carol’s design is sure to catch your attention.
The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for April. The index shows that there have been declines overall, but after sharp increases it was nice to see the price of lumber finally coming down.
The recovery has not been kind to the price of lumber and this recent decline could mark the turn in builder confidence. Builders should stock up on lumber as there is no doubt that the market is clearly on a strong comeback.
Q: Denise, do you think I really need to be blogging? I feel like I should be, but I’m not sure about it …
A: Blogging is an excellent way to get your name and your ideas and opinions out there. However, if you don’t like to write and you are not consistent about it, then blogging may be more than you can handle. The key to having a successful blog is to be consistent with your content and to provide ongoing engagement. You will also need to answer all comments and questions that come your way. And you have to diligent about taking care of your blog. Blogging is a wonderful business builder and lead generator when done correctly. Read more »
I have always been extremely interested in real estate all over the country. Whether it is real estate in Miami, Vegas, Houston, or Hawaii, I love to see what the different real estate markets are like.
And so do many other people. Which is why I was so horrified by what I came across on TV last night that portrays our industry in a horrible light.
Million Dollar Listing is a show on Bravo that follows the lives and careers of several high-producing real estate agents in a number of large cities in the US. In a recent episode I was shocked – SHOCKED! – to see agents drinking while on the job, discussing legal contracts and shooting back straight vodka while on a listing appointment. In the meantime, two other agents held dueling open houses in the same condo building that resulted in one agent swearing profusely at the other, accusations flying regarding stealing clients, and even a physical attack. Yes, I said physical attack! In front of open house attendees! Rather than work together to make it an exciting event for clients, they both acted like immature juvenile delinquents. One agent even abruptly demanded that certain buyers leave the open house to attend his open house. After that agent left, the other agent told everyone to grab another drink and ceremoniously asked for the music to be turned up. This was certainly not behavior that I would be celebrating. Read more »
Kim Lohnes, one of our Instant Identity clients, came to us wanting something elegant and memorable. Striking, yet refined. She also was interested in highlighting her niche market, equestrian properties, while at the same time giving a nod to her home area of Kirkland, WA. Including her color preferences of gold and burgundy we selected the right design to showcase a dramatic sunset photo over the Kirkland waterfront. And using Kim’s own original idea, we created a distinctive name treatment that incorporates a jeweled horseshoe, bringing in her equestrian influence. Both dramatic and elegant, Kim’s branding design is one you won’t easily forget!
Oh, how the times have changed! From just waiting for the buyers to appear … to dealing with multiple offers from numerous buyers vying for the same property! There is no denying that in many markets the buyers have come out in full force and they are in the mood to buy. Consumer confidence is up while interest rates are down which makes for a perfect buying storm.
While this is can be an exciting time for real estate agents, it is also a frustrating time as well. More and more I am hearing stories from agents about how they have been unable to help willing and able buyers buy a home, because there just isn’t any inventory out there for them. With our past seven year deficit of new construction inventory, it will take some time for the market to balance out. And with the recent decline of short sales and foreclosures we have found the inventory problem has become magnified. Read more »