Clients need the hard facts about the mortgage market
The current upheaval in the market has given rise to significant opportunities to help your clients make informed decisions. Tom Sherman, President of Mortgage Services Unlimited in Dallas, emphasizes the importance of educating clients.
For your sellers, the following points are key:
- Home values will stay stagnant or potentially decrease.
- Qualified borrowers are looking for deals.
- Fewer borrowers are qualifying for home loans.
- Rising foreclosures tend to negatively affect home values.
- Increased “days on the market” (DOMs) increases the likelihood that buyers will aggressively negotiate prices down.
- Continued stress in the financial markets will affect consumer confidence.
- Loans may take longer to close.
- Appraisals are becoming more difficult to obtain.
- Properties should be funded before contract contingencies are removed.
It’s critical to encourage sellers to price homes to sell -- and sell quickly -- decreasing the need for price reductions.
Sherman notes that buyers also need to be armed with specific tips on how to navigate most effectively in the current market:
- Make decisions to buy sooner than later — loan guidelines are changing so quickly that an approval today may not be an approval in the future.
- Diligently protect your credit.
- Make sure that lenders are placing loans with financial institutions that can close on them.
- If someone is saying that something that is too good to be true, it probably is!
- A down payment on a property not only strengthens the case — it may be a necessity in the very near future.
- Fly-by-night lenders will say anything to get the deal. Verify anything being offered through a reputable lender.
- Rate locks and product locks can be subject to change when a market is shifting.
- Loans take much longer to close in the current market.
- Pre-approval is critical.
This uncertain market provides a huge and unique opportunity for skilled agents to educate clients, gain their confidence and loyalty and build lasting relationships.
Family Reunion registration open!
Join us in Atlanta, Ga., Feb. 10 -13 for Family Reunion 2008, our “Main Event.”
Registration is now open to all associates and their guests.
Housing arrangements at Keller Williams Realty negotiated rates will be available Oct. 3. Stay tuned to THIS WEEK @ kw for more information.
Holly Perry to join KWRI leadership team
Currently a team leader for the Vail, Colo., market center, a MAPS coach and KWU Master faculty member, Holly Perry will be leading Millionaire Systems' efforts to assist KW leadership in increasing growth and productivity through the proven systems and models of the Millionaire Real Estate Series books. Her extensive consulting skills be a great asset to market centers’ recruiting, retention and growth initiatives.
Perry, who will assume her new position in November, began her Keller Williams career as a residential and commercial agent. In 1999, she advanced to the team leader role in Flower Mound, Texas and under her leadership; the office grew from 27 associates to more than 240. Perry currently serves as team leader for the Vail market center.
Jay Papasan, Vice President of Publishing and Executive Editor of KWRI and head of Millionaire Systems said, “We are thrilled to have someone of Holly's caliber and talent joining KWRI to help our leaders in the field to leverage our resources to enhance their recruiting and productivity."
REALTOR® Safety week Sept. 9 - 15
The National Association of REALTORS® is reaching out to its 1.3 million members this week as part of its fifth annual REALTOR® Safety Week. According to the U.S. Department of Labor’s its most recent Survey of Workplace Violence Prevention, 2.5 percent of real estate businesses reported an incident of workplace violence in 2005. Although not common, real estate professionals across the country have been assaulted, robbed and even killed in the course of doing their jobs. The annual awareness week is one ways NAR helps Realtors® recognize potential threats and protect themselves throughout their real estate careers.
Safety Week Tips from NAR:
- Keep a charged cell phone with you at all times.
- Meet potential clients for the first time in your office.
- Never advertise a home as “vacant.”
- Don’t put your home phone number on your business card.
- Always take your own car for showings.
Click here for more safety tips from NAR,
Are you on the blogging bandwagon?
Boast a blog to build a brand
Online marketing is hitting its stride in the real estate space. More than ever you need new ways to generate more leads from the Internet.
Blogging is ideal for real estate marketing — with an effective and purposeful blog, you get an opportunity to distinguish yourself as a market expert, increase traffic to your Website, grow your network, channel information, develop thought leadership and most importantly — generate more leads.
Already blogging? Tips from the real estate tomato.com to blog better:
- Write great headlines
- Use pictures
- Write in short paragraphs
- Ensure the casual reader gets the point and value
- Get to the point
Read more blogging tips from therealestatetomato.com.
If you haven’t started blogging yet, consider adding a blog to your Website and position yourself on the Web as the number one resource for neighborhood information in your area. And do it at no additional cost!
Download step-by-step instructions to set up your blog.
ProManage in Spanish –finalamente!
According to U.S. Census statistics, the North American Hispanic population stands at approximately 40 million today and is projected to grow to nearly 50 million within the next five to six years. The need for a bilingual marketing presence is great.
If you’re using the Keller Williams version of Top Producer 7i® - you can now leverage this resource to market to your Spanish-speaking prospects. The ProManage Your Agent Matters campaign is now available in Spanish.
Don’t have Top Producer 7i®? Download these materials now.
For questions about the Keller Williams version of Top Producer 7i®, or to subscribe, click here.
Keller Williams Realty and Fierce, Inc.: Partners in training
Keller Williams Realty has partnered with Fierce, Inc., a provider of top-tier, in-house corporate training. Founded by Susan Susan Scott, author of the best-selling Fierce Conversations: Achieving Success at Work & in Life, One Conversation at a Time, Fierce, Inc., training programs typically cost $1,295.Due to our exclusive partnership, Keller Williams associates will have access to this cutting-edge training for as low as $499.
Keller Williams Realty will be hosting Fierce Conversations®, a Fierce, Inc. program Oct. 1 – 2 in Austin, Texas.
For more information on this course, and to register, click here.
What are your clients paying you for?
Tips from Lead Generation 36:12:3: Building Validity and Positioning
What makes you a valid real estate professional? Have you spent time developing your Unique Selling Proposition (USP)?
Your USP is your very own unique and persuasive statement that brings to the forefront the value of working with you.
As outlined in Keller Williams University’s latest course: Lead Generation 36:12:3 — a course designed to give you a framework for closing at least 36 transactions in 12 months by spending 3 hours every workday on lead generation — there is a 5-step model to building your USP.
- Describe yourself
- Describe how other describe you
- Define YOUR customer service
- Create your value proposition by transforming service to benefits
- Create your USP by combining your validity, services and value proposition
As Dave Jenks, Vice President of Research and Development at KWRI puts it, “Validity is at the foundation of everything. It underlies everything you promote.”
This is an excerpt from Keller Williams University’s Lead Generation 36:12:3; Power Session 1:Building Validity and Positioning. For more information, or to order the entire 10-session course, click here.
Final Certified ProManage/TOP PRODUCER 7i Instructor Training
We have a limited number of 20 seats available for this workshop and would like to invite you to send a representative from your market center to attend this 3-day event.
Dean Poole, KWU Master Faculty Instructor and the architect of the ProManage/TOP PRODUCER 7i program for Keller Williams Realty will be our instructor and will share his knowledge and insights on how to train and support our agents who want to get the most from their TOP PRODUCER 7i program.
What is the Certified ProManage/TOP PRODUCER 7i Instructor opportunity?
In 2005, Keller Williams Realty International and eAgentC launched ProManage. The ProManage program, available to all KW associates, now includes more than 20,000 subscribers to the Keller Williams Realty version of TOP PRODUCER 7i®, an industry-leading contact management system with which Keller Williams Realty has formed a partnership.
As a result, many team leaders and regional directors have asked for additional training opportunities for associates; specifically training, courses and hands-on computing workshops that can be hosted in their local market centers and regions in order to teach associates the value of contact management and a well-managed database. In response, KWU has created the Certified ProManage Instructor Training workshop.*
*The ProManage training workshop is separate from the KWU Train the Trainer program.
What should you expect from sending a representative to a Certified ProManage Instructor workshop?
In the three-day training workshop, your representative will gain the knowledge and resources necessary to work one-on-one with associates and teams, teach live group training courses and/or hands-on computing workshops based on the popular training guide and KW Connect course, Your Business Is Your Database Learning Guide for TOP PRODUCER® 7i.
Each graduate of the ProManage training workshop will receive:
- A Detailed KWU Instructor Guide and Student Course Curriculum, including instructions and tips on teaching each of 6 unique sessions that cover the spectrum of the ProManage program and the Keller Williams Realty version of TOP PRODUCER 7i®. Each of the 6 sessions is designed to be taught in 90-minute increments, allowing them to be easily added to the existing market center training schedule.
- KWU Student workbooks for each of the 6 sessions that complement the complete ProManage Learning Guide, Your Business Is Your Database for TOP PRODUCER 7i®. (These Student Workbooks are continually updated and can be downloaded by the Instructor as needed.)
- Supporting instructional PowerPoint slides to assist in the sessions. The slides are customized for each of the six sessions, are fully editable and include examples of ProManage marketing materials.
- The ProManage Marketing Directory, including examples of hundreds of ProManage specific marketing postcards, letters, email templates and buyer & seller guides. These examples are the same as those available to Keller Williams Realty associates through the Keller Williams Realty version of TOP PRODUCER® 7i, the Keller Williams Realty preferred vendor network and available via download from the KW Intranet site.
- A variety of training and support materials directly from Top Producer Systems, including:
- A fully functional training account for the Keller Williams Realty version of TOP PRODUCER® 7i.
- Availability of training accounts that can be used in hands-on computer workshops.
- The new DVD training set, SELLING MORE REAL ESTATE.
- The TOP PRODUCER® 7i for Dummies reference book.
- Access to a qualified TOP PRODUCER® 7i support team
- Membership within the Certified ProManage Instructor private Intranet website hosted by KWU and designed as a way to learn and share ideas with other qualified instructors around North America.
Who should you nominate to attend?
We encourage you to consider nominating your market center Team Leader, Tech Coordinator, current KWU training staff member or one of your qualified associates that has a passion for sharing their skills and knowledge with others.
Representatives from mega-teams will also find the training beneficial to increase their team's knowledge and use of TOP PRODUCER 7i and the ProManage marketing materials.
NOTE: Candidates are not required to be directly affiliated with Keller Williams Realty. You are welcome to send a local title company or mortgage company trainer.
To get the most from our program, candidates MUST have the following qualifications:
- General knowledge and understanding of the TOP PRODUCER® 7i program
- General knowledge and understanding of the MREA business models
- An Internet enabled laptop for use during the course*
* If you have a candidate without access to a laptop, contact promanagetraining@kw.com to reserve a laptop for the event.
Please nominate your candidate and have them register early, as these workshops are limited to only 20 attendees each.
Upcoming ProManage Certified Instructor Workshops Details:
Sept.26-28 - Austin, Texas
This 3-day session includes all training materials, access to Free Top Producer training accounts, and on-going use of the CPI Internet site as a resource for your training efforts. Registration fee is $595.00
Click here to register for this training.
The September training will be held at the Austin Airport Marriott South. Contact the Marriott at 1-512-634-2036 for a convenient room reservations.
Reserve your spot in the course and room at the Marriott today!
Comments or questions for THIS WEEK @ kw ? We want to hear from you!
Contact us at marketing@kw.com.
