HouseHunt Network

A Blog for Real Estate Agents

Month: November 2011 (Page 1 of 3)

Home sale figures for October provide a slight dose of optimism

By Jim Droz

It’s only a slight improvement, but existing-home sale numbers for October weren’t as scary as some people feared. The latest figures from the National Association of Realtors show that sales were up 1.4 percent from September last month and are a promising 13.5 percent above October 2010. The latter figure is cause for some good cheer as we head into the holiday season.

Three of four regions saw growth in October, with the West leading the way at 4.4 percent. The Midwest and South rose 2.8 and 2.1, respectively. The Northeast was the only region to see a decline in October, falling 5.1 percent.

NAR chief economist Lawrence Yun said the market has been steady and would likely improve if the country’s overall economic news started looking up.

“Many people who are attempting to buy homes are thwarted in the process,” he said in a statement that hinted at credit standards being too tight.

The NAR also reported that the national median home price for existing homes is $162,500, which is down another 4.7 percent from October 2010. Distressed properties are accounting for less of the market, which means prices are falling in response to other economic conditions.

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Working expired listings can breathe life back into your business

By Jim Droz

Maximizing your spot in the marketplace these days is an efficient and effective way to build a listing inventory and form relationships that ensure residual income and enduring success. However, building relationships is like building a home. It takes time to complete the process, with results often deferred for 12 to 18 months.

Most agents don’t have the financial ability to survive until the building of a loyal clientele starts paying dividends. Out of necessity, they must find a way to generate income during the building process.

One of the most effective tools for quickly creating a substantial listing inventory is an expired listing system. This is especially true during times when the real estate market is in a down cycle. It’s a given that the “expired” homeowner (who hasn’t expired but may feel like he has) has an interest in selling. The owner is also aware that an adjustment – in price and terms, etc. – must be made to get his home sold. And past experiences make the owner somewhat familiar with the process. In other words, expired listings present an agent with an

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Home-selling clients can handle the truth if you’re honest

By Jim Droz

People are jittery about the economy and no amount of sugarcoating can make things right. In fact, that will do more harm than good most of the time, especially when dealing with a client listing a home.

If that person hasn’t checked out the market for a while, they’re likely in for a shock, no matter how many news stories they’ve seen. Being frank and honest with homeowners about pricing and marketing a home is important. They need to know upfront that what they think – or hope – their home is worth likely isn’t realistic these days.

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Being a good agent these days requires some personality testing

By Jim Droz

It’s been said that opposites attract in romance. In selling real estate? Not so much.

People like to interact with others who are like them. Check it out the next time you’re out and about for business or pleasure. Having something in common is a good starting point for a business relationship that has the chance to develop into something stronger.

Real estate agents and buyers or sellers obviously have something in common, and having a good working partnership benefits both parties now and into the future.

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There’s no place like home, even if the town’s name is a little odd

By Jaime Westman

Welcome to Hell. Sound inviting? Probably not, but imagine if you worked for the Chamber of Commerce or were a real estate agent there.

No, not down there. Up in Michigan. Yes, there is a town named Hell in the Wolverine State near Ann Arbor. Let the jokes begin. I’m sure residents have heard them all. But it’s Michigan. What if the town freezes over in the winter? All you know what breaks loose?

Fortunately for the people in Hell (population 265, give or take), their unincorporated town isn’t the only one in the country with an odd or unfortunate name. So put yourself in the shoes of real estate agents from these towns and think about how tough – or fun – it would be to entice people to move there and buy a house. Here are some of those towns and suggested slogans for offices in those locales:

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