Our first priority is to educate our sellers on what is really happening in the market place. Of course they do have an idea; although, we have to be more specific, explain the supply and demand issue. What the odds of selling are in their specific neighborhood.  We have to show them our market penetration.  Houses selling today are either in perfect condition or the best value, price per sq ft. Our job is to give them all the facts so they can base their decision on what is best for them in today’s market.

The seller wants to know how we find our Buyers. We have to have a clear precise plan on how we find our buyers. How you market to other agents, what internet sites are you advertising on, the exposure their house will be receiving besides placing it on MLS.  They want to be kept informed on a weekly basis and want to know the comments the buyers are relaying to their agents about their house.

It’s important that we keep ourselves informed so we can give our clients the facts.

Michael Staver, founder of the Staver Group, an executive training company, says that acknowledging failure, then moving on, can help keep one’s passions from dying.

Michael Staver who is a national speaker and coach, sent me the following email concerning recognizing one person everyday, I thought it was a good idea, not just for our real estate business but for our family and friends also.  So often we are so busy we forget to recognize those who mean the most to us.

Dear Shelia,

What do you think the world would be like if each of us committed to recognize one person every day?   I have a challenge for you. The challenge is a lifelong commitment to recognition and gratitude.

With that in mind, I started a club inspired by an insightful Exec at CUNA Mutual Group named Dan Meylink. The club is called the ROPED Club and I am inviting you to join. It is free of fees, but not free of responsibility.

ROPED stands for Recognize One Person Every Day.
If you want to join, here are the rules: you MUST purposefully recognize one person every day for the rest of your life. They can be anywhere at anytime; just commit to recognize one person every day. That’s it! It’s that simple!

Our world is so fast and busy that seldom do people receive recognition.  What is purposeful recognition?

Purposeful recognition is:

1.  Specific – be certain that the recognition is about something they did.

2.  Appreciative – Be clear that it mattered to you!

3.  Personal – Do it face to face whenever possible!

4.  Immediate – Don’t wait! Do it as soon as possible!

Share this with a friend.   Sheila

The  MLS Residential Activity report shows Current # of listings in the each area, current # number of closed sales in each area, Median Sales Price, Average Sales Price and List price to Sale Price ratio in each area  of  Charleston.  It also shows the average days on the market which is a little misleading as it records only the houses sold since they were placed on the market and of course they might have expired and been re-listed. Keep that in mind when you are checking out the different areas.

Click on the Activity report to the right and it will zoom in so you can read it if  you click on it again,  it will enlarge again,  it is for the first quarter of the year 2010.

The following is an article from his monthly newsletter

Over the last 18 months, the real estate industry has almost become dependent on government’s help. We hope that programs like the tax credit or the Fed’s purchase of mortgage-backed- securities will be extended in order to make our jobs easier. Well, the Fed has already announced that they are exiting the mortgage market as scheduled (March 31, 2010) and there doesn’t seem to be the political will to again extend the tax credit. That does not mean the market will dry up and blow away. We were given help to get through the toughest part of our challenge. Now it is up to us to step up and create business. Let’s give great advice to buyers and sellers and keep this momentum going.

When you work as an Real Estate entrepreneur, under the umbrella of a High Profile Company both Locally and Nationally such as Carolina One Real Estate,  it gives you  instant Credibility with your clients, plus possibly new clients.  Therefore, increasing your business just by being with our company. The consumer has confidence in our abilities. In Charleston SC the majority of the consumers believe Carolina One is the Real Estate Company that helps achieve their goals. You become part of a team who will help you develop your business to the next level.

Why do you want me to get pre-approved before I find a house I want to buy? This a question asked many times by buyers. So I thought I would take a moment to answer.

When a borrower applies for a mortgage before finding a house, and receives a written commitment from a lender to finance a suitable property when found, the buyer has several advantages, including:

House Hunting made easy: Pre-approval lets the home buyers know exactly how much home he or she can afford, then home finding is focused on a precise price range.

Cash buyer status: The buyer has the increased negotiating leverage of cash buyers status, because the mortgage is already in place.

Accelerate the mortgage process: Significant time is saved because a large part of the mortgage has already been processed.

•CU    See you           RFD  Request for discussion             

YW     Your welcome

OTP   On the phone

The above abbreviations for texting are just a few of so many. Being from the older generation it’s very difficult to understand all of the text language when I receive text messages.  I do believe, however, in today’s market we have to ask our clients which way they prefer us to communicate with them, for short quick messages, many will say text me. For the longer detailed correspondence they prefer email or a phone call.

I’ve always quoted the saying ” Change is inevitable, Growth is optional.” And to be Honest, I’m quite proud of the way I have adapted over the years to  the changes I have had to make, so we could continue giving the excellent service  our clients deserve.  Plus the agents in my office deserve a broker who keeps up with the market changes and any new developments which might effect their business.  I am fortunate to be able to learn so much from my agents who are so multi-talented in today’s market, and I believe some of the smartest technologically-inclined agents in our area. They learn from my thirty- two years in the business and I certainly learn from them.  A Win Win situation for all of us.

“Could anyone guess how many were FHA Sales. (Goverment Lending).” A great deal of numbers were thrown out,  some of the agents came pretty close. The answer were 127 and they were selling at 96.74% list price to sales price. The next question was, “How many were  Conventional?”  The answer was 394 although they were selling at 91.84% list price to sales price.  Approximately 5% lower.

Next came “How many VA?”  (Veteran  Loans).” 65 were VA financing with 97.34% list price to sales price.

The Surprise to everyone, was the next question.  “How many were Cash?” The answer was 168 list price to sales price 86.12% This was a surprise as I don’t think any of the agents expected it to be as high as it was.  Which does tell us that there are cash buyers out there looking for good deal.There were a couple with Farmers Home, some listed as Other,which I can only assume was rent with the option to buy and some were owner financing.  Owner financing is a good option for the seller as he makes money with the interest rate, however, my caution is, you can only offer owner financing if you do not have a mortgage, or have the permission of the bank who is holding the mortgage to allow a second mortgage to be held by the seller.

These Graphs are showing the Charleston  Tri-County Real Estate Market. Sales and Listings in 2009 & also in 2005 to show you the comparisons.  The one on the left is the market in the year 2009 if you click on the graph it will enlarge so you can see the numbers.  The pink is the number of homes on the market in the different price ranges.  The blue is the sales in the different price ranges.  As you can see even though the market has slowed down homes were still selling. The difference is the amount of homes on the market, this is a buyers market, it’s all about supply and demand. On the right(above) is the market as it was in 2005 when the there was not as many houses on the market. It was definitely a seller’s market. Plenty of buyers, which turned into a great deal of multiple offers on houses.  Therefore the prices increased and appreciation doubled and tripled.  This could not continue, the market had to balance out.  Although, now house prices have dropped dramatically forcing many sellers into short sales and many foreclosures.  I do think it is important to show the comparisons to our clients, to help them understand what has happened in the market place.