According to latest reports, social media has became bigger than email. That got me to thinking about where we are as an industry. As usual, miles behind. I think many agents and some brokers missed the webinar that explained to effectively use email as a means of marketing you listings or as a recruiting tool it is called drip campaigns not spam campaigns.
I did an an informal survey on Twitter and Facebook. The majority of responses where no to reading the emails sent out about listings. Several said they unsubscribe, a few said they read them if based on the address and only one person said an unqualifying yes.
I have used emails on occasion. I try and follow the guidelines suggested by the pros. Don't send listing emails often and only if it is "newsworthy". Huge price reductions, something out of the ordinary new listing or a special brokers open event.
When I receive eflyers on listings I usually ignore them unless something catches my eye in the headline. If I see a sender email to much out then I unsubscribe. I am not sure what unsubscribe means because it stops for a while and then I start to get them again from the same agents. I think someone told these agents Tuesday is a good day to spam out other agents with all their listings. I kind of understand the Fridays for open houses. What I don't get that if your office is emailing out a list to the broker community, why you have send an individual one on each listing.
What I find interesting, is that the agents who are spamming listings are not engaged in the social networking community which has surpassed email as our means of communicating. This only goes to prove the point you spammers are still not effectively marketing yourself or your listings so you are probably not seeing this blog post!
Wednesday, August 5, 2009
Friday, July 3, 2009
My Observations on the Last 30 Days as a Realtor® in United States
As I have time to reflect as we go into this holiday weekend,
I think back to all that happened in the month of June.
My Personal Market Activity: Buyers re-engaged in the marketplace resulting in sold properties. Sellers who want to sell are listing at prices to sell not just to list. Communication between the Realtors, lenders, buyers, sellers and attorneys is key in keeping the deals together and getting them closed.
I have received negative comments responding to my positive outlook on the market, the first signs we are seeing of stabilization from the numbers that are being published. I have run into agents I know amazed when I say I am busy. They are thinking of getting out of the business. I am not “wearing rose colored glasses” as commented on one of my blog postings. Rather than walk away in frustration, I decided I have to continually educate myself to the dynamics of the ever changing market. Learn from my most current experiences. Most importantly, work to solve the problems that arise from each of the challenges that come with every transaction.
Americans deserve the opportunity to achieve and sustain the American Dream of homeownership. It is still recognized as one of their most important assets. I am a Realtor®. This is what I do.
Happy Birthday America!
Monday, June 29, 2009
Buy or Rent? Buying is Starting to Make Financial Sense Again
Originally Posted on Chicago's Real Estate Blog, The Chicago 77, June 29 2009
This week’s Crain’s Chicago Business (PDF) is reporting that the relative cost of owning vs. renting is swinging back in favor of home ownership across the U.S. and in Chicago. The Chicago real estate market is already seeing signs of this with an increase in pending home sales. There are great expectations that June’s sales numbers will finish off what should be a strong second quarter. Realtors® see this trend continuing as many of their buyers have reengaged and are actively looking at properties and going forward with offers. Tire kickers have become purchasers. As sellers have been adjusting their prices, buyers have making repositioning themselves regarding financing. Borrowers are expanding their lending options, taking advantage of the $8000 tax credit and creating greater equity in their purchase with larger down payments.
This week’s Crain’s Chicago Business (PDF) is reporting that the relative cost of owning vs. renting is swinging back in favor of home ownership across the U.S. and in Chicago. The Chicago real estate market is already seeing signs of this with an increase in pending home sales. There are great expectations that June’s sales numbers will finish off what should be a strong second quarter. Realtors® see this trend continuing as many of their buyers have reengaged and are actively looking at properties and going forward with offers. Tire kickers have become purchasers. As sellers have been adjusting their prices, buyers have making repositioning themselves regarding financing. Borrowers are expanding their lending options, taking advantage of the $8000 tax credit and creating greater equity in their purchase with larger down payments.
Monday, June 15, 2009
Disappointment Creates Opportunity
Roosevelt Collection, a 342 unit new construction condo building in Chicago’s South Loop is now going to be rental apartments according to this week’s Crain’s Chicago. Many new construction buildings sold as condominiums are ultimately ending up as rentals.
There is always a positive out of a negative.
The purchasers who entered into contracts on these units at the height of the market should look at this as opportunity. They now can take advantage of today’s prices and inventory. Currently on the market buyers can get new or almost new units and take advantage of historically low interest rates especially in neighborhoods like the South Loop and West Loop where the inventory is plentiful and full of brand new buildings with empty units.
To view Chicago's listings click here.
There is always a positive out of a negative.
The purchasers who entered into contracts on these units at the height of the market should look at this as opportunity. They now can take advantage of today’s prices and inventory. Currently on the market buyers can get new or almost new units and take advantage of historically low interest rates especially in neighborhoods like the South Loop and West Loop where the inventory is plentiful and full of brand new buildings with empty units.
To view Chicago's listings click here.
Friday, June 5, 2009
The Value of Open Houses
The ongoing debate of as to if open houses have any value. This is my professional opinion. In any transaction there many different avenues to how a buyer finds a property. The same road does not get us a contract 100% of the time. As a Realtor®, it is my job to provide my clients a 110% effort to sell their home.
According to a study that Harris Interactive® conducted on behalf of Trulia, 91% of buyers will visit open houses during their home search with the internet being their primary resource to find them. (Click here for the complete release from Trulia).
I have had success stories of selling listings through open houses just as I have through the many other tools that I use to market my listings. That is why I continue to have them week after week. Open houses are just one piece of the pie in marketing properties. It is our job as professionals to offer our clients a complete package of services to achieve the goal for which we were hired: sell their property.
Open houses create opportunity just as all of the other means that we market properties. Yes, it is also an opportunity to pick up other business as many buyers coming through have not yet established a relationship with another agent and that property is not right for them. Yes, there are weeks that few to none come through. Yes, there are weeks that there is a lot of traffic with no real bites. It is all worth it for the one that comes through and writes the offer. It only takes one.
To discount open houses as not being a viable tool would be the same as discounting any of the other means that we use as real estate agents to market properties.
Wednesday, May 27, 2009
Hope & Change “Chicago’s Good Neighbors”
At a dinner On May 21, the Chicago Association of Realtors presented the 2009 Good Neighbor Award winners. As I saw the recipients walk to the podium to receive their awards, the words of the evening’s emcee kept running through my head.
In his remarks, Brian Bernardoni the Government Affairs Director for the Association said, “There is a yin and yang; there is a balance the concepts of HOPE and CHANGE present – they need to work together. Without the inspiration of HOPE people will not find resources for CHANGE. And without prospects of CHANGE there is no HOPE. Developers and REALTORS® in the room know these words all too well.”
Hope and Change
They are words we heard through the presidential election as a Chicagoan worked to create hope that change will happen. Locally those words define the work, dedication and partnerships of the developers, banks, Realtors®, and in many cases the City of Chicago through its Department of Community Development. The award winning projects where scattered throughout Chicago, from North to South East to West. They were residential, commercial and mixed use renovations and new construction. Working together their work filled vacant lots, abandoned buildings, and in some cases the starting point for hope there will be change for an entire community.
Affordable Housing Without Displacement
This year’s Bruce Abrams Award winner—the program’s highest honor—was awarded to Benjamin Van Horne of Greenline Development for the Greenline Condos in the Woodlawn Neighborhood. With this 37 unit project, Mr. Van Horne achieved his goal of quality affordable housing without displacement. He was able to do this in cooperation with the City of Chicago’s Department of Community Development.
Saving a Historically Significant Building
Another winner that stuck out in my mind was one of a colleague of mine at Sudler Sotheby’s International Realty, Ron Meadows. In the Lincoln Square neighborhood where even in this current real estate market, developers are still tearing down and building new condos and single family homes, Ron saved a building built in 1893 with historical significance from a developer who was going to tear it down. He took this structure, known as the Alley House of Lincoln Square, did a total renovation and is maintaining it as a rental property in an area where there is very little rental inventory left.
Every award recipient has their own passionate story about their project. They all faced challenges. But they saw through them—all to make a difference. Project by project, partnerships bring about change throughout the entire city and hope in many neighborhoods where it did not exist before.
Mr. Bernardoni went on to say “When you INSPIRE HOPE and bring about CHANGE – you build this city. You are all winners and great Chicagoans. Thanks for doing your part.”
Orignally posted on the Chicago 77 Real Estate Blog
In his remarks, Brian Bernardoni the Government Affairs Director for the Association said, “There is a yin and yang; there is a balance the concepts of HOPE and CHANGE present – they need to work together. Without the inspiration of HOPE people will not find resources for CHANGE. And without prospects of CHANGE there is no HOPE. Developers and REALTORS® in the room know these words all too well.”
Hope and Change
They are words we heard through the presidential election as a Chicagoan worked to create hope that change will happen. Locally those words define the work, dedication and partnerships of the developers, banks, Realtors®, and in many cases the City of Chicago through its Department of Community Development. The award winning projects where scattered throughout Chicago, from North to South East to West. They were residential, commercial and mixed use renovations and new construction. Working together their work filled vacant lots, abandoned buildings, and in some cases the starting point for hope there will be change for an entire community.
Affordable Housing Without Displacement
This year’s Bruce Abrams Award winner—the program’s highest honor—was awarded to Benjamin Van Horne of Greenline Development for the Greenline Condos in the Woodlawn Neighborhood. With this 37 unit project, Mr. Van Horne achieved his goal of quality affordable housing without displacement. He was able to do this in cooperation with the City of Chicago’s Department of Community Development.
Saving a Historically Significant Building
Another winner that stuck out in my mind was one of a colleague of mine at Sudler Sotheby’s International Realty, Ron Meadows. In the Lincoln Square neighborhood where even in this current real estate market, developers are still tearing down and building new condos and single family homes, Ron saved a building built in 1893 with historical significance from a developer who was going to tear it down. He took this structure, known as the Alley House of Lincoln Square, did a total renovation and is maintaining it as a rental property in an area where there is very little rental inventory left.
Every award recipient has their own passionate story about their project. They all faced challenges. But they saw through them—all to make a difference. Project by project, partnerships bring about change throughout the entire city and hope in many neighborhoods where it did not exist before.
Mr. Bernardoni went on to say “When you INSPIRE HOPE and bring about CHANGE – you build this city. You are all winners and great Chicagoans. Thanks for doing your part.”
Orignally posted on the Chicago 77 Real Estate Blog
Friday, May 15, 2009
What Constitutes an Expert in Social Networking?
What math class did they teach "loyalty" + dollars = “experts”?
We are becoming so dependent on these sites for our “expert” advice. Is one an expert because they pay to play? How do we qualify those who we are taking advice from? When did an expert become a paid advertisement? Social networking had become the means in which we get ourselves out there. It is our new means of exposure and with any advertising there is cost involved. But when did our expertise become based on how much we pay or in this case, how much our company spent over the years.
When doing my evening round of “social networking”, I saw a posting that appeared to go out to the entire local Realtor® association calling for members to apply to be one of their “experts” on their new real estate social networking site based on shared knowledge of “experts” with hefty fees involved for the those who participated. As a big social networker who has been successful converting leads from this medium, I looked at the qualifications they were seeking, and thought I might have a chance to be part of this new venture.
Thinking I had a great resume, I applied. After all, I have been an active Realtor® in the area for a decade participating in hundreds of transactions myself representing buyers and sellers in new development and the secondary market as well as short sales. I also had the benefit of gaining knowledge from others in an agent support capacity in my company. Reporters call me and I have been published and posted internationally regarding real estate. Unpaid publications called me the “expert”.
For almost my entire real estate career, I have served the Realtor® community volunteering thousands of hours of my time for the Realtor® Association (the same one he had addressed the posting to) at the local, state and national level as an advocate on behalf of the real estate community and home owners. My years of association participation afforded me the opportunity to canvas the entire city. I received the President’s Community Service award, one of only a few. I have also been greatly involved in my local chamber of commerce in the same capacity.
I went to the online application, filled it out and inquired how long the process was to find out if I was accepted or not. The response was I am not currently being considered because he will only “reward loyalty” at this point. They are only accepting real estate agents as “experts” whose companies have done business with a company the creator of this site has.
In the posting to an association with over 13,000 members it did not specify that if the company you are with did not spend money with him, you need not apply.
We are becoming so dependent on these sites for our “expert” advice. Is one an expert because they pay to play? How do we qualify those who we are taking advice from? When did an expert become a paid advertisement? Social networking had become the means in which we get ourselves out there. It is our new means of exposure and with any advertising there is cost involved. But when did our expertise become based on how much we pay or in this case, how much our company spent over the years.
When doing my evening round of “social networking”, I saw a posting that appeared to go out to the entire local Realtor® association calling for members to apply to be one of their “experts” on their new real estate social networking site based on shared knowledge of “experts” with hefty fees involved for the those who participated. As a big social networker who has been successful converting leads from this medium, I looked at the qualifications they were seeking, and thought I might have a chance to be part of this new venture.
Thinking I had a great resume, I applied. After all, I have been an active Realtor® in the area for a decade participating in hundreds of transactions myself representing buyers and sellers in new development and the secondary market as well as short sales. I also had the benefit of gaining knowledge from others in an agent support capacity in my company. Reporters call me and I have been published and posted internationally regarding real estate. Unpaid publications called me the “expert”.
For almost my entire real estate career, I have served the Realtor® community volunteering thousands of hours of my time for the Realtor® Association (the same one he had addressed the posting to) at the local, state and national level as an advocate on behalf of the real estate community and home owners. My years of association participation afforded me the opportunity to canvas the entire city. I received the President’s Community Service award, one of only a few. I have also been greatly involved in my local chamber of commerce in the same capacity.
I went to the online application, filled it out and inquired how long the process was to find out if I was accepted or not. The response was I am not currently being considered because he will only “reward loyalty” at this point. They are only accepting real estate agents as “experts” whose companies have done business with a company the creator of this site has.
In the posting to an association with over 13,000 members it did not specify that if the company you are with did not spend money with him, you need not apply.
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