November Local Real Estate Market Update

November Local Real Estate Market Update Traditionally, this time of year sales activity slows and we can all catch our breath, but not so much this season. Although sales will be less than peak spring and summer months, they are unusually strong for this time of year. Our annualized sales rate is actually higher now than it was this past spring, meaning we are carrying even stronger buyer demand into the new year than we did this year (and this year was pretty strong). Listing inventories continue to shrink, as the number of new salable listings entering the market is not keeping up with the number of homes being sold. All indications point to 2013 being a strong year for home values with both Median and Per Square Foot prices up 20%+ over the past year, pending sales up 38%, home inventories down 25%, Days on Market down 24% and foreclosure sales down over 50%. The combination of great rates, prices and six years of pent up demand is causing an extra boost in buyer demand. Because of that, we expect appreciation rates to be strongest over the next 18-24 months, and then settle back down to a more normal (but still strong) activity level. Which means an expiration date is on that sweet spot of both strong appreciation and low interest rates, so anyone who is anticipating selling in the next 3-5 years should be evaluating their housing needs in 2013. Buyer's lending standards continue to be a challenge, so here are some simple suggestions to help minimize mortgage loan frustration: 1. It’s never too early to get pre approved. Preparation is key to a successful transaction. 2. Once pre approved, don’t open new debt. 3. Large deposits are watched very closely. Deposits going in checking and savings accounts need to be accounted for (large means anything over $500). 4. Bring everything asked for by the Loan Officer up front at the time of application 5. As underwriters check and double check files, be prepared for additional conditions after approvals and some details needed within the last few days of the transaction. 6. Often, if the transaction has been in place longer than 45 days, ask which information will need to be updated before closing. We have had requests for an updated Rent vs. Own analysis, so here it is using current rental and mortgage rates. Even if values remain flat over the next seven years, which is highly unlikely, owning a home is still an outstanding investment.

November sales were our best of the year, adjusted for the season and not surprisingly so was our market share!

We have a great new market update video for you to use to get an overview of your local market area. It's only one-minute in length with great charts and a voiceover. Click this link to see how it works! Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

REO Achievements October 2012

REO Achievements October 2012

We have a great new market update video for you to use to get an overview of your local market area. It's only one-minute in length with great charts and a voiceover. Click this link to see how it works! Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

Michigan Monthly Real Estate Market Report - November 2012

Michigan Monthly Real Estate Market Report - November 2012 October was the most active new purchase month in the past two years, giving some great momentum going into the winter. With inventories at 10-year lows and buyer activity building, this should be a wild winter for Buyers chasing their perfect home. To give you a snapshot for the cause of inventory decline, over the past 90 days sales were up 22%. Meanwhile, the number of new listings placed on the market fell 6% compared to last year, which accelerated area appreciation rates. Appreciation Momentum is growing 2012 vs. 2011 % Change in Price per Square Foot - SE Michigan October 18.30% September 14.80% August 12.80% These growth rates are a combination of fewer lower-priced homes for sale and a growing rate of appreciation. Separating the two is not an exact science, however it appears that at least a third of the growth rate (or 6%+-) is a true value increase. Should I stay or should I go? A great song by The Clash, but with prices rising, also a good question for today's Sellers, "Sell now or wait?" Since housing is not just about the financial gain, the answer depends as much on your personal housing goals as timing the rate of appreciation. However, if you are looking to move up to a larger home, there is no doubt you should be looking now. The math is clearly in your favor! Should I Stay or Should I Go? Current Home Value $100,000 Value in 2 Years $118,000 Gain by Waiting $18,000 New Home Value Today $170,000 New Home Value in 2 Years $201,000 Gain by Buying Now $31,000 Loss by Waiting ($13,000) $31,000 - $18,000 Plus: Cost of extra interest ($18,000) 3.7% mortgage vs. 5.5 in 2 Years Total Cost of Waiting 2 Years ($31,000) per $100,000 of home value *assumes a 10 year holding period. For simplicity, does not consider closing costs or tax effects Right now, a first-time buyer has all the best pieces in their favor to buy. Rising rental rates, low home prices and low interest rates make a once in a lifetime combination. Those downsizing should consider the future interest rate increase, which makes a move today worthwhile. A 1% rise in interest rates will offset a 12% rise in appreciation. We anticipate strong appreciation over the next couple of years, but not 12%. Though, interest rates most certainly will rise 1-2% in the coming years. Anyone who is considering selling in the next few years should be making plans now, so they can test the market in 2013. In that vein, we have a great new market update video for you to use to get an overview of your local market area. It's only one-minute in length with great charts and a voiceover. Click this link to see how it works! Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

October Local Real Estate Market Update

October Local Real Estate Market Update: The best way to describe the current market seems to be "just enough". Both the economy and market values are rising just enough to bring just enough sellers into the market to satisfy just enough of the buyer demand to keep the market moving and prices rising. There is a significant shortage of available homes for sale. We are at a low point for listing inventories as we come off a high point for sales, creating a depleted inventory going into the fall and winter. This is good news for Sellers with upward pricing pressure through the winter months (which is a rarity). For many Sellers, the spread between what is owed and current values is still wider than they would like. This means there is a chance the sales rate could slow through the winter simply because there are not enough homes to sell. We could see a strange phenomenon of the sales rate falling (compared to last winter, but still a good pace) while prices rise. As the market recovers, it is interesting to note that most of the issues holding back a real explosion in real estate have been artificially created, as are many of the key factors fueling the recovery. On the stimulus side: The Federal Reserve buying Bonds (Quantitative easing) helps keep mortgage rates at record lows Government entities, Fannie Mae, Freddie Mac and Gennie Mae (FHA) are the funding source for nearly 90% of all mortgages Government refinance and short sale programs are helping reduce the foreclosure overhang On the holding back demand side: The concern over the potential lender restrictions under the Dodd-Frank act has banks holding back on lending Government law suits against banks to buy back old loans have caused many to stop mortgage lending all together, restricting available credit Uncertainty about what will be the underwriting standards imposed on lenders going forward causes lenders to be more cautious Congressional inaction on extending the Rural Lending programs have reduced access to credit for many rural markets Combined, they seem to cancel each other out, allowing for a steady real estate recovery. Both Presidential candidates are unclear as to how they will address any of these artificial issues, so we will have to wait until next year to get a clear direction. In the mean time, Buyers keep pushing to buy and Sellers are gaining more confidence, regardless of which way the political winds blow. We continue to gain ground with our websites with the most consumer traffic in the state, providing our Sellers access to more potential Buyers than any other broker in Michigan (which of course makes sense since we sell more houses than anyone else)! The yellow highlighted sites are Multiple Listing Service sites, not broker sites, which include Realtor search activity and also include all of our listings, as well.

Also, be sure to take a look at the Zillow Zestimates for all of your listings and compare them to your own valuations. In most cases you will be pleasantly surprised that your valuations are higher than Zillow. Like any valuation model (Case-Shiller, Zillow, Core Logic, etc.), they will be running behind the true market direction by 90-180 days, so in the case of a rising market, you can be the bearer of good news. However, for half of the Sellers, the value they expect is still 10-15% higher than the current market, so they may feel there is no demand. As a pathway to establishing a marketable valuation, the Zillow-type third party estimates are a good way to show those sellers where the market really is.

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

REO Achievements August 2012

REO Achievements August 2012

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

September 2012 Local Real Estate Market Update

September 2012 Local Real Estate Market Update Just when we thought the market was going to take a pause, it picked up at an even faster pace. August brought us the highest median and average prices in the past four years, past two years for NW Michigan, as well as the lowest For Sale home inventories and the highest number of sales — all indicators of strengthening buyer demand. So, is this sustainable or just a temporary release of pent up demand? The answer is both; demand is growing both short and long term. Just because values declined since peak 2005 and Sellers were not able to sell, does not mean the reasons that people need to sell stop (births, deaths, divorce, retirement, etc.). The result is a short term build up of demand from six years of sellers holding back as well as a long term buildup as Gen X and Y move into their prime home buying years. So it looks good for us on all fronts, adjusting for the short term economic hiccups we might see (none like what we have gone through in the past six years). Demand would be even higher if it were not for some industry-wide bottlenecks resulting from both the financial crisis and the sudden growth in demand. A recent economic report predicted that a shortage of staffing in the mortgage industry will hold back sales in the upcoming year which makes sense since in Michigan alone, we peaked at about 5,000 mortgage lenders and now we are in the 300s, with the same number of purchase mortgage applications! (as many of you know, we have been on a hiring push in our Affiliates to get ahead of the staffing issues and give us a competitive edge). Add to that a shortage of listings, issues with appraisal values (which are getting better) and the tough lending standards and it is not surprising buyers can feel frustrated. The silver lining is all of these bottlenecks will go away and release even more buyer demand into the market. In fact a NAR study shows that unreasonable lending standards are holding back up to 700,000 real estate sales this year. Here is an update of the chart we sent out two months ago, you can see that the majority of the market activity is well into the Seller's Market range. Another telling point is the average days on market. In August, non-bank owned homes selling in the under 90-day category had an average market time of 13 days, while those over 90 days averaged 153 days.

So with all this great news, how much “play” is there in buyer demand if mortgage rates rise and values jump? The housing affordability index is a good way to test the “play.” Here is how the index works:

So we have some room for the real estate market to continue to grow even with rising interest. In spite of the strong activity, many Sellers are not seeing a benefit. So how does a market look like a Seller’s Market to some and a Buyer's Market to others at the same time? Here is the math: About 15% of homes are still declining in value (up to 10%), based on condition/location, while another 30% are being overbid (on average 9%) with the remaining sold on average within 5% of asking price. The net result gives us a watered down average appreciation of about 3% when in fact it is the "overbid by 9%" segment that gives a leading indicator of where the market is headed. Keep in mind that the typical home on the market in excess of 90 days is, on average 15% over priced, so to that Seller, it feels like the only way to sell is to take a deep discount. Needless to say, we had an outstanding month in August and it looks like a stronger than expected fall market, so take a deep breath and enjoy the ride!

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

How to Make Your Visualizations a Reality

How to Make Your Visualizations a Reality Posted By suzanne On September 9, 2012 @ 1:07 pm In Best Practices,Business Development,Coaching,Consumer News and Advice,Marketing,Real Estate Training,Real Estate Trends,Today's Top Story,Today's Top Story “Visualize your success” is something we hear a lot of these days. However, we don’t always know how to make our visualizations powerful enough so that they become a reality. Myth: “I’ll believe it when I see it” Fact: “You’ll see it when you believe it” The first step in any visualization process is to believe that you can have it. As an example, let’s consider success in your real estate career. Before beginning to visualize your success, you need to believe that it can happen. As Henry Ford once says,” Whether you believe you can or you can’t, either way, you are right.” If you have trouble believing that it can happen, then most likely you are experiencing some self-limiting beliefs that need to be cleared. Once they are cleared, begin visualizing yourself a year from now doing the following: · Doing work you love · Working the ideal number of hours per week you want to work · Working with your ideal clients, i.e. what characteristics do you want them to have? · Earning your ideal income (pick a figure that is realistic and optimistic) Here’s a typical example of what you might come up with: ” I want to earn $300,000 a year, working no more than 40 hours a week, and I want to work with people who are positive decisive and committed.” Great, now you are crystal clear on your desired outcome. Next, put yourself inside of this visualization, and feel what it feels like. Take a few minutes where you can be alone, close your eyes and live the visualization, as if it’s happening right now. What does it feel like? The more you breathe the more you are available to feel the positive feelings. What positive feelings come up for you? Most people report feelings like: confidence, fulfillment, security, peace, energy, joy, safety and so forth. Please note that by adding the feelings to this visualization, you are energizing your vision. Without this essential step, your visualization falls flat. Here’s another helpful hint: picture your visualization, as a moving picture, not a snapshot. For example, visualize yourself going to the home of a prospective client and giving your listing presentation. Move it forward. See and feel them signing with you. Imagine finding a buyer easily and effortlessly. Visualize the look on your client’s faces as you present them with a flawless offer. The final step would be to imagine yourself with the check in your hand, your name on the check and the exact amount. Here’s the key, imagine your desired outcome as if it had already occurred, with all of your senses involved. Just to recap: To make your visualizations powerful and effective, do the following: 1. Believe you can have it 2. Put yourself inside of it and feel it 3. See the visualization as a moving picture, not a snapshot Follow these steps and watch your visualization become a reality. Dr. Maya Bailey, Multiple 6 Figure Income Business Coach for Real Estate Professionals, integrates her 20 years of experience as a psychologist with 15 years of expertise in marketing. Her powerful transformational work creates a Success Formula for Real Estate Professionals ready to create a Multiple 6 Figure Income. Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

Marketing Strategies: 5 Steps to becoming a Success Magnet

Marketing Strategies: 5 Steps to becoming a Success Magnet Posted By susanne On July 12, 2012 @ 3:16 pm In Best Practices,Business Development,Coaching,Marketing,Real Estate Information,Real Estate News,Real Estate Training,Today's Top Story | Comments Disabled [1]What would it mean for you to manifest the success you desire and the success you deserve? The following “5 Steps to becoming a Success Magnet” will give you a formula to manifest the success you desire and the success you deserve. This five-step formula comes from my direct experience of having been a psychologist for 20 years and a business coach for real estate agents for 15 years. Step 1 – Getting Clear about What You Don’t Want This is a very important step, because when you’re clear on what you don’t want, you have contrast, or a springboard to jump off into deciding what you do want. It’s so easy to come up with the list of what you don’t want; it’s all those things you’ve been complaining about. Let’s get them out of your head and onto paper shall we? Get out a piece of paper and about a half an inch from the top draw a horizontal line. Then down the center of the page draw a vertical line. You now have two columns. For the heading of the left-hand column write, “What I Don’t Want.” Jot them down in your left hand column the things you don’t want. If you are like most of my clients, then your list would look something like this: I Don’t Want: • Flaky, difficult clients • Transactions that fall through • Inconsistent income • Working long hours • Having to generate leads • Not being well received on the phone • Negativity The problem with having these “don’t wants” circulate around in your mind day after day is that they build a negative vortex and before you know it you end up attracting what you don’t want. Step 2 – Notice What You Do Want Now that you’ve made your list of “don’t wants,” it will be very easy to make your list of do wants. In the right-hand column, write down all the things that you do want. If you’re like most of my clients your list will look something like this: • I want motivated, decisive, qualified clients • I want transactions that flow easily and effortlessly • I want to magnetize my ideal clients • I want (fill in the blank) amount of income each month • I want to have fun and work reasonable hours Not only is this a “wish list” but also this is a notice to the universe of your intentions. Step 3 – Visualize and Feel Visualizing is utilizing this body mind connection. We often think that it’s not good to daydream or that it’s a waste of time. But if it’s a directed daydream in which you are focusing your attention and imagining that you’ve achieved that result, you are really stepping into that visualization and experiencing what that feels like; then you are magnetizing that to you. There is more to the process, obviously because action is always needed. It’s really a matter of balancing a success mindset with inspired action. Step 4 – Clear Your Mind of Self-Limiting Beliefs What if you wanted more money but had beliefs that were anti-money, such as, “there’s never enough money”? If we hold the belief “there’s never enough money” in our subconscious mind then that will become our experience. You need to clear that belief. If you have self-limiting beliefs, you can replace them with the empowered belief, “I have a valuable service to offer, and people are happy to hear from me.” I don’t want to imply that this is a quick fix, but I want to let you know that when you’ve done the reprogramming work on yourself that is what you will want to focus on. Remember, when you’re radiating a positive attitude, you are magnetizing what you desire and what you deserve. Step 5 – Take Inspired Action. What does this mean? Take action that comes from your heart; take action that inspires you, take action that comes from your intuition. This is the difference between simply going through the motions, or really putting your heart into it. I was working with a client the other day who was feeling a lot of resistance about prospecting. Even though she wanted to do it to build her business, she kept feeling bored with routine, and lacked the spark that was really on authentic part of her. I guided her into a process to help her to get clear about what she needed to bring the spark back into her lead generation activities. It turns out that she needed three things: 1. Flexibility: she wanted to start her prospecting at different times in the morning, instead of a set “I have to start prospecting at 8:30 AM.” 2. Variety: she didn’t want to call the same categories of people day after day. She wanted to mix it up, to work with different categories until she could feel some excitement about calling these people. 3. A day off. For her to take inspired action, she found that it was necessary to give yourself permission to take a day off from prospecting each week. When you got clear on what you need to take inspired action, your resistance will disappear. Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

July 2012 Local Real Estate Market Update

July 2012 Local Real Estate Market Update The market is showing the same good news we have been seeing all year. The current housing recovery is riding on three core factors: low home prices, historic low interest rates and increased consumer confidence (i.e. a stabilizing Michigan economy). There has been a slight slowing in the pace of growth, which can be attributed to a combination of the time of year and decreasing consumer confidence. Of the three core factors, the economy/consumer confidence is the fuel for growth. We have had low prices and rates for over three years but it wasn't until consumers became more confident of their economic stability last fall that the market took off. The ideal recovery follows stable economic growth, interest rates below 6.0% and quickly rising home values. The odds are that’s where we’re headed. Quickly rising values are necessary to generate the home inventories needed to meet buyer demand. If the economy falters and/or rates rise too far, that will take the excess buying power away, which will delay the housing recovery. In all markets and price ranges, June showed the strongest indicators over the past two years; a low in the Months Supply of Inventory (4.1 months), a low point in the number of homes available for sale, a peak in sales for properties on the market less than 90 days, and a high point in median home values. It was, for SE Michigan, also a high point for the percentage of homes for sale that have been on the market for over 90 days, which shows the continued growing gap between homes priced right for the market and those that are not (85% of all buyers continue to chase 33% of the available homes). Moving more overpriced homes to market pricing is the quickest way to satisfy buyer demand. On average, homes on the market in excess of 90 days are overpriced by 15%. The percentage varies a bit between markets and price ranges (NW Michigan 13%) so most homes that have not had an offer in 90 days in most any market (including NW Michigan) will require a significant price reduction to attract buyer interest. For example, if the true market value is $95,000, it will attract attention if priced between $95,000 and $100,000, above that, crickets start to chirp. The average over 90-day listing would be at $115,000, so they would need to drop to $100,000 to begin to see the activity they need. The best advice we can give sellers is to give the market a try. Home values are rising and homeowners may be surprised by what the market has to offer as it continues to improve. With inventory low, now is the time to make well-priced properties stand out from the crowd. We were all very proud to be named one of the top work places in Michigan this year so be sure to fill out the Top Work Places survey to carry on our tradition of excellence. Also, our First to Know products continue to get great feedback for keeping our clients abreast of the market, so if you have not signed your clients up, give it a try (e-mail, mobile, text or voice).

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

Some Will, Some Won’t, So What!

Some Will, Some Won’t, So What! Posted By susanne On July 18, 2012 @ 3:10 pm In Best Practices,Business Development,Coaching,Marketing,Today's Top Story I can think of no other profession that’s as closely associated with the term rejection as a career in sales. You might say that rejection is as natural to a salesperson as trail dust is to a chuck wagon cook… it comes with the territory. In fact, frequently the first two orders many new sales reps receive are “get out and stay out!” The sales profession can be financially and personally rewarding for those tough-minded salespeople who have developed the capacity to keep rejection in perspective. How well do you take rejection? Your ability to persevere in the face of rejection is a key factor in determining your income potential and career longevity. Obviously you can never totally eliminate rejection from the selling process, however, there are actions you can take to reduce the frequency and minimize its mental and financial impact. I am absolutely convinced that the best antidote for taking the sting out of rejection is to prospect with greater intensity and qualify more effectively. Prospecting for new business is critically important and for the majority of salespeople, it is the most challenging and stressful aspect of their profession. Successful sales reps are proactive and recognize the importance of prospecting for new business on a daily basis. When you don’t have enough prospects, the tendency is to shoot yourself in the foot by down-playing the needs analysis and qualification process. It’s like putting lipstick on a pig… it’s a waste of time, and it irritates the pig. By having more prospects to work with, you automatically water-down the impact of any single “no sale” and are far more likely to qualify your prospects realistically. Improper qualification is in direct relationship to increased rejection, it’s a self-imposed, vicious cycle. At the end of the day, sales, like baseball, is a game of statistics. A baseball player gets paid by the number of times he hits the ball, not by the number of times he strikes out. Keep score and know your sales effectiveness numbers so that you can improve your batting average. When a salesperson experiences a “no sale,” there’s a common weakness to point fingers and look for mitigating circumstances such as a bad economy or a lower-priced competitor, when in reality, it just might be them. It’s appropriate to take rejection personally if you learn from the experience and view rejection as nothing more than a feedback system. Top producers look at rejection as merely a wet stone that allows them to hone their presentation abilities and sharpen their people skills. So, the next time a prospect says no, just remember that you can profit from the experience and that… some will, some want, so what! Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

Successes June 2012

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

WHY SHOULD A BUYER CHOOSE TO WORK WITH YOU?

Tip #1 WHY SHOULD A BUYER CHOOSE TO WORK WITH YOU? (Phone conversion) So what is the benefit for a potential buyer to take the time and schedule an appointment to meet with you? “Would you see value in viewing pictures of the inside of all the homes that fit your search criteria, rather than to drive around and call agents and schedule individual appointments to see the inside of each home?” “Would you see value in reviewing a current snapshot of the market so that you are able to understand the current value of homes that you are researching?” What are some of the other value propositions/benefits that you can offer a potential buyer? We call it the “FAB” approach; Features, Advantages and Benefits. Yes it takes time but YOU take a few minutes and place all of your features in the far left had columns of a 3 column page. At the top left it starts with Features, then the Benefits and lastly the Advantages. Write out all the whys and what if’s that you can. You’ll be amazed at your results. Features and benefits are important to communicate during the incoming call, but how do you handle the overall communication process? Call me today and I’ll be happy to share some of them with you. Your next tip will focus on how you convert the incoming call with more than just features and benefits. Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

June 2012 Real Estate Market Update

June 2012 Real Estate Market Update No new news is good news! The market continues its march upward. The Months Supply of Inventory continues to decline as sales are outpacing new listings coming on the market. Certainly, shaky economic growth news here and in Europe has caused some concerns, but at the moment it appears that the combination of low interest rates and values, along with a large base of consumers able to consume, will cause the housing market to be a key factor in keeping our economy going through this current dip. A nice role reversal for us! Based on current activity, we expect values to make a relatively quick jump over the next 12 months (10% plus) as a result of low salable inventories, low rates and buyers who for the most part have the financial strength to overbid. As interest rates and values rise and cash buyers become increasingly scarce, more inventory will hit the market and values will settle back to a more normal pace of appreciation. Median prices have been increasing, but much of that to date is a result of buyers shifting to more expensive homes as well as fewer bank-owned properties. Most of the real appreciation has occurred in the last 90 days, so it will not show up in sold data for a few months. The majority of homes sales are occurring among listings on the market less than 90 days. In fact, in southeast Michigan, 42% of the under 90 day sales are at or above list price (we expect that number to rise as spring market closed data comes in). As we said last month, 50-70% of all sellers will tell you the market is still slow, with not a lot of activity, while 85% of all buyers will tell you the market is moving at a crazy pace. This is not like 2008 when buyers were scarce. There is an abundance of buyers in the market and we distribute our properties to enough eyeballs that if a seller is not averaging three showings per week or at least one offer in 30 days, the home is overpriced for its market and condition. About 15% of those overpriced homes are eventually selling after several price reductions and, typically 6-8 months longer on the market. Homes are selling on average at 97% of the listing price (93% in northwest Michigan), which means it takes only a small miss on the right price (5%-8%) to move a home from active to quiet. The good news is once a home’s value is reduced to the right price range, there is enough demand that it will sell quickly (96% of asking price) and not suffer as much of a “stale market” discount as we have seen in the past, but with an extra 6-8 month time cost. Once again, if buyers are frustrated with a lack of inventory they should not forget to focus on the 50-70% of listings that are sitting on the market. These buyers might use an FHA 203K mortgage to make the updates/repairs that are typically keeping the home from being sold. A marketing reminder, our Mobile App (iPhone/iPad/Android) is one of the best I have seen (and I am completely unbiased). Be sure to remind your clients who have a mobile device to download it. They can draw custom map searches with a finger and use their First to Know account to tie back to you so you can help with what they are looking at. Good numbers again for May and good momentum going into June as well. Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

May 2012 Local Real Estate Market Update

After watching the market numbers over the past 12 months, a solid (positive) pattern has been set that appears to be spreading across the nation. The housing market, for all practical purposes, has shifted from a Buyers Market to a Sellers Market. In the five-county Southeast Michigan market, 84% of all sales are homes that have been on the market less than 90 days. These homes are well priced and in the best condition, but also only represent 30% of the homes for sale, which means 84% of all buyers are bunched together chasing 30% of the available listings. With a limited supply of desirable homes and increasing buyer demand, good things are starting to happen for sellers, the most important of which is appreciation. (The Northwest Michigan market is about 6-8 months behind SE Michigan so the inventory numbers are not as dramatic, but the same improving patterns are still evident.) The "average" market statistics hide the true strength of the current market. Overall, the average Months Supply of Inventory (MSI) is 4.1 months (for SE Michigan), but in reality, 84% of the market is operating with a MSI of 1.5 months while the rest of the market (70% of the homes for sale) is operating with a MSI of 18.5 months. The result is a strange world where 70% of all sellers complain about a slow market with few offers while 84% of all buyers complain about a wild market with no saleable homes to purchase. Both are correct! The reality is those 70% of the homes that are in the 18-month MSI "slow zone" are not really relevant to the market since they are not attracting much market attention. The chart below outlines the "true" MSI for the majority of the market as well as the hidden MSI for those homes that are not priced in a saleable range.

What does that mean for a buyer? It means over bidding on list prices, sight unseen offers, waiving appraisal contingencies and pricing wars above the asking price. Most importantly, it means make your best, strongest offer the first time since we are approaching 50% of all transactions with multiple offers. So buyers have two choices: jump in and play by the new rules of a Sellers Market – move fast, be aggressive and patient since you will most likely lose out on a few before you get one, or go after the other 70% of the listings that are sitting quietly and find that diamond in the rough. For sellers, throw your line in the water. Don't be crazy about the price. You might be surprised what the market will give you, but be prepared to be honest about the condition and features of your house. Buyers are willing to pay a larger premium for a home that is updated, without deferred maintenance, and with a design consistent with the neighborhood (i.e. points off for a contemporary in a Colonial neighborhood, etc.). It may be worth the time and money for some basic updates before putting your home on the market. April of 2011 was really the start of our heated up market, but even so we still showed growth over our previous year, which was strong, and buyer demand continues to grow.

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

5 Habits of Highly Productive Real Estate Agents

5 Habits of Highly Productive Real Estate Agents Posted By susanne On May 6, 2012 @ 1:05 pm In Best Practices,Business Development,Coaching,Real Estate Training,Real Estate Trends | Comments Disabled [1]With so many distractions, it’s a wonder real estate agents are productive at all. Working to become a highly productive real estate agent is an ongoing process. Creating habits that produce consistent results allows you to achieve your maximum potential. Time management has always been a real challenge. Between phone calls, a barrage of emails, listing presentations, prospecting calls and buyers appointments, how do you stay productive? Keep yourself focused, alert and on track with these 5 Habits of Highly Productive Real Estate Agent’s Top Productivity Habits 1. Focus on Your Most Important Tasks The first part of every real estate agent’s day should be spent focused on the most important tasks. Why bother spending hours on time-consuming/low-payoff tasks when you could focus on tasks that actually generate income and produce results? Schedule time on your calendar and then list out everything you will work on. Once you’ve done that, number each item and work through your list. Complete what you can during your scheduled time without any interruptions or distractions. Rinse and repeat the next day. 2. Remove Distractions Between the phone, email, Internet, employees and all other “interruptions,” our day can quickly get away from us if we allow it. Turn it all off and stay focused on your task at hand. Do not allow for a quick vacation on Facebook or a stroll down memory lane with an old friend. Cut yourself off from all distractions, work down your list and take a break once complete. 3. Use Positive Affirmations Positive affirmations really do work! They can take a negative attitude and turn it around just be repeating a few constructive, upbeat words. Not familiar with how to use positive affirmations? Here is a tip: All affirmations should be repeated in the present tense. For example, “I am creating a clear path towards my destiny.” See what I mean? You are speaking as if it is happening right now, not in the past and not in the future. Pick a time of day that works best for you and then read them out loud each day. 4. Take a Cat Nap Grabbing a few zzz’s might seem like an odd productivity tip, but studies have shown that feeling refreshed after a nap can significantly improve concentration and performance. I wouldn’t suggest napping any longer than 30 minutes though or you will go from refreshed to groggy. 5. Set Daily Goals A day without goals is like setting out on a road trip without a map. Sure you’ll end up somewhere, but I’m doubtful it’s where you truly wanted to be. Wake up each morning with your goals outlined. These should be incorporated into your daily tasks. Setting your sites on a goal each day offers clarity and promotes a more sustained drive. Keep in mind that not every habit may be right for you. The most important part about creating habits is creating habits that stick. They will only stick if there’s ‘buy-in’ from you. Bonus! 6. Break out of the Norm Don’t be afraid to branch out and try something that makes you a little uncomfortable. Stepping outside of your comfort zone can be an amazing place that offers growth potential you never believed possible. Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

4 ways to capitalize on shift to seller's market

4 ways to capitalize on shift to seller's market Some see signs of the next housing shortage By Bernice Ross Inman News® It's the spring selling season and good news is popping up like wildflowers in many places. The rocky bottom may be behind us with a new challenge ahead: a seller's market with higher prices and not enough inventory. "A seller's market? Are you serious?" the naysayers will say. "NAR just announced that prices declined again and that the current sales pace puts us on track for doing about 4.93 million home sales in 2012. That's less than the typical 5 million home sales that constitutes an average year." Signs of the next housing shortage? There's no question that many areas are still suffering from high unemployment and a glut of foreclosures. Nevertheless, there are rumblings on the lending side of the business about easing credit restrictions. This means more borrowers can qualify for loans. Increased demand will absorb the current glut of properties. This, in turn, will result in prices flattening and then beginning to inch up again. Pent-up demand is also growing. The 80 million members of Gen Y (born between 1977 and 1994) are in their prime time for starting careers, getting married and having babies. These major life milestones are usually tied to changes in housing, most often a move from being a renter to becoming a homeowner. Moreover, as inflation raises its ugly head again and the Federal Reserve ponders a third round of quantitative easing (QE3), investors are fleeing to tangible assets. While precious metals and commodities are certainly popular, real estate has almost always kept place with inflation over the long haul. Couple these facts with the tremendous decline in new housing starts and you have the formula for a housing shortage in the very near future. Reading the tea leaves What does this all mean for your business? First, it's important that you are tracking how many months of inventory are on the market in the areas and the price ranges in which you work. The rule of thumb is that if you have six or less months of inventory, you are either entering or are already in a seller's market. If there are seven or eight months of inventory, your market may be flat or transitioning. If you have nine or more months of inventory, you are still in a buyer's market with too much inventory. There are some important points to note here. First, sometimes you can have a seller's market and a buyer's market on the same street. For example, single-family homes under $250,000 may be selling well, but $180,000 condos are languishing with virtually no sales. Since most MLS systems supply this data, it's important to watch whether the number of months of inventory is increasing or decreasing. This will give you an idea about which way the market is trending. What's especially fascinating about the shift from a buyer's to a seller's market is how far the prices actually lag behind the shift. For example, inventories began to grow back in 2004 and 2005. Nevertheless, prices continued to increase in many areas well into 2007. You can expect to see the same thing now. Inventories are decreasing, multiple offers are occurring, and overall prices are still continuing to decline. The bottom of the market has already passed in terms of the demand, but hasn't shown up yet in terms of the price. Capitalize on the shifts What can you do to take advantage of this in your market? Here are four suggestions: 1. Fish where the fish are Determine where the activity is the greatest and where there is the least amount of listings. This is a prime area for prospecting for new listings. You can call on FSBOs (for-sale-by-owner listings), owners of expired listings, or hold open houses where you invite the neighbors. The idea is to increase your visibility in the area so that when someone is thinking about buying or selling a home, they will contact you. 2. Use print marketing to get the word out Many buyers have been waiting for the market to bottom out. You can use your print marketing materials including postcards, letters or newsletters to show people that the properties in their area have already bottomed out. A simple way to do this is with a graph that shows how many months of inventory were available over the last 12-24 months. Draw a line at six months. Your caption says, "When the inventory dips below six months, the market has already bottomed. Prices typically bottom out in the next 90 to 180 days after the inventory drops below six months. If you want to get the best price and the best financing, buy now." 3. Reach out through social media If you have a Facebook business page or if you use Twitter, link to any data from your board of REALTORS® or other resources that show the state of your local market. Remember to remind recipients that different price ranges may be experiencing different market conditions. 4. Show buyers it's cheaper to buy than rent A real shocker was recently released from Trulia showing that it is now cheaper to buy than rent in 98 of 100 large U.S. metro locations. Is a seller's market around the corner in your area? If the months of inventory have crossed the "six months" threshold, it's time to load up on your listing inventory as well as dust off those unused multiple-offer forms. Also, don't forget to prospect first-time buyers, because it's the best time to buy since the Great Depression. Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

April 2012 Market Report

Dear All, As the market recovers, there will be fewer months where we beat the prior year. Such is the case with March 2012. In terms of new contracts written, numbers continued to show improvement over March of last year. Across all of our markets Closed Sales were down just a bit from last year. This is not a cause for concern (it would be if there were three months of decline). March 2011 was an unusually strong month, so it is not surprising that we did not top it this year. As the percentage of short sales grow, pending sales will outpace actual closings since there is a higher fall-through rate for short sales. The more significant number from this point forward is the average/median sale price, since much of the market gain will be in rising values. If available home inventories remain tight, in ensuing months we may even see a slight decline in the number of homes sold as we simply run out of homes to sell. That trend, however, should not last long because it will cause values to rise and more homes will be released to the market. In Southeast Michigan as well as both Southwest (Grand Rapids area) and Northwest (Grand Traverse) Michigan, the Months Supply of Inventory (MSI) hit another two-year low. (Southeast Michigan had the largest positive movement.) This is a very good thing because each month with a falling MSI moves us closer to a sustainable appreciation rate. For bank-owned, the MSI fell below 3 months, with non-bank at 4.8 months. Most of that fall was a result of an increase in contracts written in March. Available bank-owned inventories fell, but non-bank remained about the same. The rest of the nation appears to be joining us in the market upturn as well. Brokers across the country are reporting strong buyer demand and a lack of home inventories, similar to where we where in mid 2011. With the rest of the country joining our party, housing is beginning to move from an economic anchor to one of the key pieces fueling the recovery. For those looking to move, a common question is should I buy/sell now or wait for the market to improve a bit? The chart below shows the cost of waiting to buy versus buying this year in terms of total cost of ownership. The chart used the anticipated mortgage and appreciation rates over the next few years to project the cost of waiting to buy versus buying this year (2012).

*Chart assumes a seven-year holding period using the projected interest and appreciation rates on the chart By waiting, a buyer faces both a higher interest rate as well as a more expensive home to buy. Each year buyers wait costs them more (blue line) and reduces their future appreciation gain (green line). For many homeowners, their mortgage gap is too wide to sell; however, that gap is closing every month, so it is more important than ever for sellers to ask their Realtors to track values.

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

How Do You Start Your Day?

How Do You Start Your Day? Posted By susanne On May 1, 2012 @ 2:47 pm In Best Practices,Business Development,Coaching,Marketing,Real Estate Technology,Real Estate Training,Today's Top Story [1]This is such a simple question yet it can have such profound results. Last week’s article, “Watch Your Mouth,” generated a lot of emails, Facebook messages and tweets. The majority of the messages were very positive and some of you were very honest. In fact, one person wrote, “I completely get the power that our words and thoughts have on our emotions, and in turn on our production level, but I just can’t seem to figure out how to stay consistent with being intentional with my thoughts and words no matter how hard I try.” Can anyone relate to this? The reader went on to write, “I will make it a point to stop and, as you put it, take every thought captive, but then once my day gets going all that goes out the window and I just start reacting, thinking and talking like I always have. This unfortunately leads me to the same emotional state that I have always been in and I just can’t seem to break the pattern! HELP!!” I want to thank this person for their honesty because I think that a lot of people find themselves in the same situation. Let’s face it: Sometimes when something is not working for you, it is not the tool that is the problem, it is the implementation of the tool that is flawed. Which gets me to my point: How do you start off your day each and every morning? It is a relatively simple question but can have so many answers. This was brought to my attention recently by someone from my Facebook group, “Don’t Be a Wantrepreneur.” The point of the group is to provide a place where people can be lifted up every day and made to feel good and push them towards whatever they are after in a world that is surrounded by so much negativity. This group member commented on how much she loves the group and how much she gets out of it every day, especially now because of something she was going through in her life and the struggles she was having professionally. Then she followed up with the question, “How do you do it? How do you stay motivated and keep your thoughts in check like you wrote about? It is so hard sometimes.” She referred to what I wrote in “Watch Your Mouth,” about how some days you wake up on the wrong side of the bed and lose half of your day because you don’t FEEL right, while other days you feel like you are ready to conquer the world and find yourself so much more productive. Without even thinking I looked back at her and told her that I am able to stay positive, motivated and ready for each day, not because I just think positive thoughts, but because I start each day the exact same way. When I am not on the road traveling or speaking I don’t schedule any phone calls or anything prior to a certain time. I drop my sons off at school and then the first half hour of every day is spent the exact same way – I pray, read and immerse myself in uplifting content. It is amazing the effect that this has on my state, on my thoughts and words and ultimately on my emotions. Haven’t you ever noticed when you are leaving an incredibly inspiring movie, at that moment, you are not thinking about bills, issues with other people or anything else? You are still lost in the emotion of the movie you just watched. If you don’t believe this I challenge you to go and watch any one of the “Rocky” movies and not want to get into a boxing match with somebody afterwards. Whatever you immerse yourself in will determine how you feel. It is impossible to spend a half hour every morning praying, reading about other people’s triumph over struggle and immersing myself with uplifting content and not leave that 30 minutes feeling energized and ready to go. I promise you if you invested this kind of time every morning you will find that you are more productive and more enjoyable to be around as well. You are working in an industry where people select who they want to work with and they have many options. If you want more clients it is as simple as having more people in your life that actually WANT you around because you make them feel a certain way. It all starts with you though. Have you asked yourself lately what you actually do to prepare yourself to be your client’s best option? Most people simply react to all of the emails, phone calls, text messages and Facebook messages they get and then wonder why they feel burnt out by the end of every day with nothing left to give back to themselves or their families. So I ask the question again—How do you start your day? This time in the morning to me is similar to a stop at the gas station for your car. Without it, I would find myself running on empty. Some of you reading this will come up with excuses of why you couldn’t possibly invest 30 minutes every morning because you are much too busy, but I firmly believe that we make time for the things that we value. I don’t know too many sales people that view their morning shower as an optional activity before they meet with clients because they “just don’t have the time to take a shower.” The truth is we wake up early enough to take a shower because to not do so would be ludicrous. I want you to start to associate the idea of not taking time to take control over your day as just as ludicrous as not keeping up with good hygiene. Both will have an effect on your business but only one will have an effect on your emotional state each day. Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

Real Estate Marketing Strategies: Why Do Some Real Estate Agents Do Well in Today’s Economy?

Real Estate Marketing Strategies: Why Do Some Real Estate Agents Do Well in Today’s Economy?

Posted By susanne On March 20, 2012 @ 3:47 pm In Marketing,Real Estate,Real Estate Information,Real Estate News,Real Estate Trends,Today's Top Story |


[1]Is that a question you’ve ever asked yourself? Have you ever wondered why some real estate agents do well in today’s economy while others fail? There is a huge discrepancy right now between people who are failing and people who are succeeding.

Having been a real estate business coach for the past 15+ years I’ve had the privilege to observe how real estate agents function. And this experience has included new agents and seasoned agents, and the experience of watching them work through hard times and good times. In addition, I’ve even had the privilege to be able to participate in helping them to become successful.

Here’s the secret to what separates those who are doing well in today’s economy from those who are not. It’s one word – fear. The not so successful real estate agents have fallen into a cycle of fear. Usually that pattern is established through incessant watching of the news, whether it’s reading a newspaper, or a magazine, or watching TV, or listening to the radio, the real estate agents who aren’t doing well are following the news much too closely, and what happens is that their mind is focused on gloom and doom.

They have gotten in a cycle of focusing on what they don’t want instead of what they do want. Because the media focuses on lack, they have also been focusing on lack. Since our thoughts create our reality the more we focus on lack the more we bring that experience to us.

The energy of fear is a contracting energy. If you’re caught up in fear you might not know it but you might notice the signs and symptoms of fear. Here are some things to watch out for: Are you feeling discouraged? Are you procrastinating? Are you avoiding marketing? Are you feeling depressed? Are you suffering from low energy?

You see all of these signs and symptoms simply indicate that your energy instead of being expansive and confident has shrunken.

So what’s the way out? Let’s take a look at group B, the successful real estate professionals in today’s economy. These professionals are not watching the news very much at all; in fact most of them go out of their way to avoid the news because they know the devastating effects on their mindset if they inundate themselves with the latest media blitz. Instead they focus on the opportunities available in their marketplace.

They are keenly aware of the properties available. They are keenly aware that this is one of the best times to buy. They are taking action.

What the successful group is doing that the non-successful group is not doing is that they are keeping their confidence level high and their mindset. They are focusing instead on, “How can I serve the people in my community?”

In addition they are not focusing on what they don’t want; they’re focusing on what they do want. They’re focusing on their vision. They’re focusing on the income they want to create. They’re focusing on how they want to help people.

In addition, they’re focusing on their capabilities. If they have skills that they need to refresh they’re taking that opportunity to do it now.

Finally, the most important thing they’re doing that the other group isn’t doing, is that they’re taking action. With a positive mindset it’s easy to take action. They are getting on the phone. They’re not afraid to pick up the phone and call their past clients, their current clients, their sphere of influence, and even people they don’t know. Because they know that they have a valuable service they offer.

Most of the time when I coach my clients I help them with this belief: “I have a valuable service to offer and people are happy to hear from me.” Since our beliefs create our reality if that’s what you put out to the universe that is what you get back.

Many of my former clients that are practicing being proactive, practice getting their clients connected with the great opportunities. They have actually doubled and tripled their income in an economy that the rest of the world is calling a recession.

My advice to any real estate professional right now who wants to be successful is this; you may have knowledge of the current economy, but you don’t have to participate. Instead you could do what Jack Canfield recommends and just say to yourself, “I hear there’s a recession going on and I choose not to participate.”

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

6 Habits of True Strategic Thinkers

6 Habits of True Strategic Thinkers

You're the boss, but you still spend too much time on the day-to-day. Here's how to become the strategic leader your company needs.

In the beginning, there was just you and your partners. You did every job. You coded, you met with investors, you emptied the trash and phoned in the midnight pizza. Now you have others to do all that and it's time for you to "be strategic."

Whatever that means.

If you find yourself resisting "being strategic," because it sounds like a fast track to irrelevance, or vaguely like an excuse to slack off, you're not alone. Every leader's temptation is to deal with what's directly in front, because it always seems more urgent and concrete. Unfortunately, if you do that, you put your company at risk. While you concentrate on steering around potholes, you'll miss windfall opportunities, not to mention any signals that the road you're on is leading off a cliff.

This is a tough job, make no mistake. "We need strategic leaders!” is a pretty constant refrain at every company, large and small. One reason the job is so tough: no one really understands what it entails. It's hard to be a strategic leader if you don't know what strategic leaders are supposed to do.

After two decades of advising organizations large and small, my colleagues and I have formed a clear idea of what's required of you in this role. Adaptive strategic leaders — the kind who thrive in today’s uncertain environment – do six things well:

Anticipate

Most of the focus at most companies is on what’s directly ahead. The leaders lack “peripheral vision.” This can leave your company vulnerable to rivals who detect and act on ambiguous signals. To anticipate well, you must:
•Look for game-changing information at the periphery of your industry
•Search beyond the current boundaries of your business
•Build wide external networks to help you scan the horizon better

Think Critically

“Conventional wisdom” opens you to fewer raised eyebrows and second guessing. But if you swallow every management fad, herdlike belief, and safe opinion at face value, your company loses all competitive advantage. Critical thinkers question everything. To master this skill you must force yourself to:
•Reframe problems to get to the bottom of things, in terms of root causes
•Challenge current beliefs and mindsets, including your own
•Uncover hypocrisy, manipulation, and bias in organizational decisions

Interpret

Ambiguity is unsettling. Faced with it, the temptation is to reach for a fast (and potentially wrongheaded) solution. A good strategic leader holds steady, synthesizing information from many sources before developing a viewpoint. To get good at this, you have to:
•Seek patterns in multiple sources of data
•Encourage others to do the same
•Question prevailing assumptions and test multiple hypotheses simultaneously

Decide

Many leaders fall prey to “analysis paralysis.” You have to develop processes and enforce them, so that you arrive at a “good enough” position. To do that well, you have to:
•Carefully frame the decision to get to the crux of the matter
•Balance speed, rigor, quality and agility. Leave perfection to higher powers
•Take a stand even with incomplete information and amid diverse views

Align

Total consensus is rare. A strategic leader must foster open dialogue, build trust and engage key stakeholders, especially when views diverge. To pull that off, you need to:
•Understand what drives other people's agendas, including what remains hidden
•Bring tough issues to the surface, even when it's uncomfortable
•Assess risk tolerance and follow through to build the necessary support

Learn

As your company grows, honest feedback is harder and harder to come by. You have to do what you can to keep it coming. This is crucial because success and failure--especially failure--are valuable sources of organizational learning. Here's what you need to do:
•Encourage and exemplify honest, rigorous debriefs to extract lessons
•Shift course quickly if you realize you're off track
•Celebrate both success and (well-intentioned) failures that provide insight

Do you have what it takes?

Obviously, this is a daunting list of tasks, and frankly, no one is born a black belt in all these different skills. But they can be taught and whatever gaps exist in your skill set can be filled in. I'll cover each of the aspects of strategic leadership in more detail in future columns. But for now, test your own strategic aptitude (or your company's) with the survey at www.decisionstrat.com. In the comments below, let me know what you learned from it.

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

Time Management: Are You Losing Money?

Time Management: Are You Losing Money?

Posted By susanne On March 22, 2012 @ 3:21 pm In Best Practices,Business Development,Coaching,Real Estate Training,Today's Top Story | No Comments


[1]The person who coined the phrase “time is money,” must have been a sales rep paid on commission. In the selling profession, the old cliché rings true; if you are not talking to a prospect or customer, you’re unemployed! How effectively do you manage your time? Do you spend your time as you would any other precious, nonrenewable asset? Or are you the type of salesperson who is stressed-out, constantly jumping through hoops and consistently running late for meetings and client appointments?

We measure time far better than we manage it. In today’s high-tech world, physicists have become extremely proficient at measuring time. The atomic clock, based on strontium atoms trapped in a laser grid, is so precise that it has an inaccuracy of less than one second in 200 million years.

While we can all agree on how to measure time, we each tend to approach time management from our own personal perspective. Look at all of the ways we view the use of time: We waste it, save it, spend it, invest it, borrow it, steal it, juggle it, squander it, and we always seem to be looking for more of it. We have time wasters and time bandits and sometimes, in those rare moments when we find we have too much time on our hands, we even kill it. Time flies when we’re having fun, but tends to drag for those who are doing time. For some people time stands still, while others see time slipping away, like sand through an hourglass.

I am convinced that the improper use of time is the number one contributor to high turnover in the selling profession. I wish I had a nickel for every smart, talented and motivated salesperson who failed because he or she simply couldn’t or wouldn’t effectively manage their time properly.

Time Management Tips

1. Plan your schedule the night before and hit the ground running. When you’re not in control of your schedule, you invite stress to fill the void. Set and prioritize meaningful tasks to be accomplished. Whether it’s an appointment calendar or a software program, the critical first step to properly managing your time is to organize and schedule your day. Be careful not to confuse activity with productivity. For example, don’t just block off a couple of hours to make calls; set measurable activity goals to be accomplished, such as 25 phone calls per day.

2. Identify your time bandits. Once you’ve scheduled your day, the next step in managing your time is to recognize and modify old behavioral patterns regarding the improper use of time. Avoid procrastination in all of its attractive forms. Having a planned schedule helps you say no to time wasters such as web surfing, personal phone calls, long lunches and chatty coworkers. An open door invites continuous distractions. Effective salespeople focus on task achievement rather than tension relieving diversions.

3. Delegate, delegate, delegate. Ineffective salespeople “play office” and hide behind paperwork. Make a smart business decision and delegate all non-sales related tasks to an administrative assistant in order to free yourself up for client appointments and prospecting phone calls.

I encourage you to reduce your stress level and give yourself a pay raise by integrating these simple, yet highly effective time management tips into your daily business routine and remember, there’s no time like the present!

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

One Daily Goal to Double Your Income in 2012

One Daily Goal to Double Your Income in 2012

Posted By susanne On February 15, 2012 @ 4:44 pm In Best Practices,Business Development,Coaching,Marketing,Real Estate Information,Real Estate News,Real Estate Training | Comments Disabled


As real estate professionals, we are forced to continuously adapt our services to match the latest developments in the national economy and our local housing markets. The world in which we conduct our business is dynamic and the only constant is change. To put it simply, if we refuse to evolve and improve ourselves, we risk going the way of the dinosaur.

With the pace of modern life, it can be a challenge to keep up sometimes. Our lives can become so complicated with activities that it is paralyzing. Should we spend most of our time on Facebook or Twitter or focus on creating mailers, cold calling or walking our farm? Or should we focus on expired listings, short sales and foreclosures?

People are always trying to sell us something, whether it’s a new marketing strategy or a new technique for serving our clients, a new flyer or sign or the latest technology. We are bombarded by the latest and greatest to such an extent that it can be overwhelming. The result is that, at the end of the day, we sometimes have to ask ourselves, “Do I even remember what business I am in? Will any of this actually help me sell more homes?”

Instead of trying to master everything at once, why not work on setting one important goal, on one important topic, five days a week? If you can simplify and streamline your process, you can increase your productivity by 100 percent.

The tried and true acronym—KISS—Keep It Simple Salesperson—may seem a little overdone, but the fact that we have all heard it before only proves its relevance and value.

We need to grow and maintain our businesses, stay current or ahead of the latest technologies, refine our infrastructure and improve our systems. Start by asking yourself, “How much time have I really spent on these areas on a daily basis over the past year?” If you were to set one achievable daily goal for one of these items, five times per week, it would have an extremely positive impact on both your mental well-being and your business.

Think about how many leads you’ve received or generated in the past month. The marketing companies are always asking me if I would like to attract hundreds or even thousands of leads to our business and website. How about keeping it simple and instead do something every day that creates one new lead?

What can you do to find one new lead a day? Wouldn’t you agree that finding five good new leads in a week would make a substantial improvement to your bottom line?

Maintain your existing relationships and your business will thrive as a result. Call your current leads, current listings, escrows and buyers. Analyze your systems and processes. Are they running efficiently? You don’t need to fix all of them in one day, but if you make it a goal to achieve one small victory every day, the results will follow.

Evaluate your proficiency with the latest technology. Are you behind the times or current with the newest developments? Improving this area of your business should be easy, just commit to learning or practicing one of your current technologies once per day for a small period of time.

Make it a goal to discover one old, current or new piece of your business that can be improved on a daily basis, even if that means discovering that you can do a better job prospecting the next day.

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

Real Estate One Southeast Michigan Annual Market Trend Report 2011-2012

We are pleased to present you with a copy of the Real Estate One Southeast Michigan Annual Market Trend Report 2011-2012.

FlipBook
Southeast Michigan Annual Market Trend Report - 2011-2012

PDF (for printing)
Southeast Michigan Annual Market Trend Report - 2011-2012


Whether you are thinking of moving or just curious about what is happening in your local real estate market, this report has it all. It is your opportunity to have an inside view of local housing trends, forecasting, and market statistics compiled by the largest real estate company in Michigan.

As you review this report, there are a few things that we would like you to remember about Real Estate One. We are a family owned company, in our third generation of leadership, headquartered in the heart of Southeast Michigan. When you invest in our services, our people, you support Michigan workers. In addition to home selling, we offer one-stop shopping through John Adams Mortgage, Capital Title, Insurance One and Relocation America - all Michigan based companies. And most importantly, we get results, by selling more homes in our state than any other real estate company.

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com

How to Read Your Prospect Like a Book

How to Read Your Prospect Like a Book

Posted By susanne On March 13, 2012 @ 3:27 pm In Best Practices,Business Development,Coaching,Real Estate Training,Today's Top Story | No Comments


Top salespeople and the most successful managers recognize the importance of nonverbal communication in the selling process and have learned to “listen with their eyes.” They understand that one of the easiest and most effective ways to close sales is to be aware of their prospect’s “buy signals.”

Are you aware that your body language reveals your deepest feelings and hidden thoughts to total strangers? It might surprise you to know that research indicates over 70 percent of our communication is done nonverbally. In fact, studies show that nonverbal communication has a much greater impact and reliability than the spoken word. Therefore, if your prospect’s words are incongruent with their body language gestures, you would be wise to rely on their body language as a more accurate reflection of their true feelings. Body language is a mixture of movement, posture, and tone of voice. The good news about this subject is that your subconscious mind already understands the meaning of every gesture, posture, and voice inflection. The bad news is, without the proper training you are unable to consciously apply this information.

Gain the Competitive Edge
Get started on the right foot. Research shows that we decide in the first few moments whether we like someone or not. There is absolutely no substitute for a positive first impression. Create a favorable first impression and build rapport quickly by using open body language. In addition to smiling and making good eye contact, you should show the palms of your hands, keep your arms unfolded, and your legs uncrossed.

Create harmony by “matching and mirroring” your prospect’s body language gestures. Matching and mirroring is unconscious mimicry. It is a way of subconsciously telling another that you like them and agree with them. The next time you are at a social event, notice how many people are subconsciously matching one another. Likewise, when people disagree, they subconsciously mismatch their body language gestures. The psychological principle behind matching and mirroring is that people want to do business with salespeople that they believe are similar to them.

You can build trust and rapport by deliberately, but subtly, matching your prospect’s body language in the first 10 minutes of the appointment. For example, if you notice that your prospect is crossing their arms, subtly cross your arms to match them. After you believe you have developed trust and rapport, verify it by seeing if your prospect will match you. Uncross your arms and see if your prospect will match and mirror you as you move into a more open posture. If you notice your prospect subconsciously matching your body language gestures, congratulations, this indicates that you have developed trust and rapport.

Conversely, if you notice your prospect mismatching your body language gestures, you know trust and rapport has not been established and you need to continue matching and mirroring them.

Body Language Basics
Be mindful to evaluate the flow of “gesture clusters” rather than isolated gestures taken out of context. Listed below are some important body language gestures that you need to become familiar with.

Body Postures:
There are two basic categories of body postures; Open/Closed and Forward/Back. In an open and receptive body posture, arms are unfolded, legs uncrossed, and palms are exposed. In a closed body posture, arms are folded, legs are crossed and the entire body is usually turned away.

• Leaning back and closed = Lack of interest.
• Leaning back and open = Contemplation and cautious interest.
• Leaning forward and closed = Potential aggressive behavior.
• Leaning forward and open = Interest and agreement. If appropriate, this would be a good time to ask for the order.

Head Gestures:
There are four basic head positions.

• Head neutral = Neutral and open attitude.
• Tilted back = Superior attitude.
• Tilted down = Negative and judgmental attitude.
• Tilted to one side = Interest.

Facial Gestures:
Facial gestures reveal deceit, doubt, deliberation, and critical judgment.

• Eye rub = Deceit, “see no evil.”
• Eye roll = Dismissive gesture that indicates superiority.
• Looking over top of glasses = Scrutiny and a critical attitude.
• Nose rub = Dislike of the subject.
• Hand or fingers blocking mouth = Deceit, “speak no evil.”
• Chin stroking = Making a decision.
• Thumb under chin with index finger pointing vertically along the cheek = Negative attitude and critical judgment.

Are you missing your prospect’s buy signals? As a professional salesperson you must continuously monitor your prospect’s body language and adjust your presentation accordingly. By understanding your prospect’s body language gestures you will minimize perceived sales pressure and know when it’s appropriate to close the sale!

Here's a free business plan creator to get you started!

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com