TOP STORY: Gary Keller: The only market that matters is yours!
Last week on the Today Show, during a segment on the national real estate market, CNBC’s Jim Kramer uncompromisingly stated, “now is the absolute worst time to buy!”
Concerned that remarks such as these from so-called experts might be pushing potential buyers to the sidelines?
Here’s what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market:
First, residential real estate is not a national market product — it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is happening in your local market is all that matters.
Second, trying to predict when it is a good time to buy, or not, means you’re trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly.
Last, and maybe most important — there are always two markets in every market. There is the market of properties that are good buys and there is the market of properties that are not a good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely ignoring the fact that every market really has two markets inside it.
Your KWLS listings to appear on AOL
New partnerships between AOL and Cyberhomes drives more traffic to your listings
Fidelity National Real Estate Solutions’ (FNRES) Cyberhomes has signed a deal with AOL Real Estate to power all of its home valuations.
This is good news for your KWLS listings which already automatically fed into Cyberhomes database.
Through this partnership, FNRES will aggregate broker and Multiple Service Listings (MLS) for the 3 million monthly AOL Real Estate users, and provide access to instant home evaluations through FNRES' Cyberhomes expert tools at realestate.aol.com.
Cyberhomes is a home and community evaluation Website that gives Internet consumers direct access to detailed property information, heat maps and evaluation content directly from your eAgentC Website, as well as from www.cyberhomes.com.
Still don’t have your listings in the KWLS? Click here to get started.
Make your Family Reunion arrangements this week
Keller Williams discounted room blocks open Oct. 3
This week, take advantage of special Keller Williams-negotiated room rates for Family Reunion.
This event sells out every year!
Housing specials open Oct. 3.
Also — registration fees increase to $599 on Nov. 15.
Take advantage of lower registration costs, and save your spot now.
Cut costs not training! This week's cost-cutting tip:
Comparison shop for all your needs! If you have been purchasing similar goods from the same vendor for a few months, put your regular order up for bid with the competition...it is likely you will get a better offer.
We need your auction items for KW Cares fourth annual silent auction
With your help, last year we raised $103,000 for KW Cares at the Third Annual Silent Auction at Family Reunion.
We need your help again!
KW Cares would like your creative and unique items for the 2008 Silent Auction in Atlanta.
Here are some examples of top-selling items from past auctions:
- Creative getaway packages
- Sports/Entertainment memorabilia
- Jewelry
- Electronics (iPods, DVD players, etc.)
- Designer handbags and briefcases
- Regional items (e.g. live lobsters from Maine)
- Entertainment packages (e.g. Kentucky Derby package)
Please keep in mind the KW Cares Silent Auction Committee has set a minimum value of $50 on all donated items.
KW Cares will work with you to arrange shipment of your items directly to Atlanta for your convenience. Please contact KW Cares at kwcares@kw.com with your donation ideas and to receive a donor item form.
Attract buyers and sellers — in any market
Make Your Own Market Seminar on Audio
This leading-edge seminar provides step-by-step strategies for building your business and your wealth in today's real estate environment.
Join renowned real estate expert and coach Tony DiCello and learn how your business can not only survive, but thrive in a shifting market.
Make Your Own Market Audio Scripts
Learn the scripts you need to handle objections in a shifting market. Created and performed by real estate experts Dianna Kokoszka and Tony DiCello, this 2-CD set includes an audio of 31 scripts and a bonus CD with scripts your can download and print out.
Buy both and save! Click here to purchase.
NEWS TO USE... for market center leadership
Update your market center information
Set your luxury homes listing price based on YOUR market
One of Keller Williams Realty's newest initiatives— Luxury Homes by Keller Williams launched last month.
Now, we need all market centers to update their market center information on the Keller Williams White Pages with their own "minimum" listing price.
Note the following as you determine your market center's minimum listing price for a luxury home:
- If your market typically closes luxury homes at higher than $750,000, your market basis should be set at the price point of the top 10% of closed transactions in your market area.
- If your market typically closes luxury homes at lower than $750,000, your market basis will be set at $750,000.
Please note, a transaction must be valued at at least $750,000 to qualify as a luxury property.
Follow these simple steps and update your market center's information:
1. Log into the KW Intranet.
2. Click the "White Pages" tab.
3. Select "Market Center Information."
4. Search for your market center.
5. Select your market center from that list.
6. Enter your minimum sales price in the "minimum sales price for luxury listing."
7. Save.
For more information on Luxury Homes by Keller Williams, see the Luxury Homes link under the Resources tab on the KW Intranet.
Hotel discounts extended to Oct. 5 for cornerstone KWU classes.
Franchise Systems Orientation (FSO)
In this five-day orientation, new franchise owners, potential owners and their teams experience the Keller Williams Realty models, systems and culture from key leaders and executives.
This week includes:
- Market Center Operations
- Market Center Launch
- KWRI Power Days
Oct. 22 - 26
Austin Airport Marriot South
Discounted hotel rates expire Oct. 5
Recruit -Train- Consult-Keep (R-T-C-K)
R-T-C-K Base Camp is a 5-day program designed to allow you pick and choose the classes that address the concerns of your specific team, market or role in the market center.
This week choose a combination from:
- OP Clinic
- Team Leader Clinic
- MCA Mastery
- Recruit Select
- Recruiting Clinic
- Market Center Financials
- Time Management with the 4-1-1
Oct. 22 - 26
Austin Airport Marriot South
Discounted hotel rates expire Oct. 5
Ramp up your recruiting
The decisions you make now regarding recruiting and retention will directly impact how quickly your market center will rebound when the market turns.
If you're looking to gain the competitive edge, and capitalize on this opportunity to grow your market share, you must make recruiting a priority.
Our recent research revealed that in 2006, market centers who subscribed to MREA and gave a copy of the book to every interviewee:
- Recruited 37 percent MORE agents than those who did not give MREA to every potential recruit,
- Netted 52 percent more agents, and
- Performed 16 percent better on agent goals.
Now, you save almost 60 percent off the cover price when you sign up for our annual subscriptions!
Comments or questions for THIS WEEK @ kw ? We want to hear from you!
Contact us at marketing@kw.com.