TOP STORY:Where are all of the buyers?
It’s time to get potential home-owners to go ahead and buy in this so-called “buyer's market”
While today’s market plays to their advantage, buyers, who should be swooping in to make the most of reduced housing costs and favorable interest rates, are sitting by, waiting.
It is up to you, as a competent and informed real estate agent, to mobilize your potential buyers to invest in home ownership now. When the market turns, today’s bargains will be yesterday’s missed opportunities.
While it is conceivable that home prices may drop further, it is likely that these decreased prices will be accompanied by increased financing costs due to rate cuts by the Fed. This means that any money saved on paying less for a house in a few months time will be offset by your client having to pay off their mortgage at a higher interest rate making “playing the waiting game” a waste of time (and very little fun).
This rate increase isn’t just speculation. Just a couple of weeks ago, in early February, the fixed mortgage rate jumped a full half-percent, making it the fastest rate increase in 20 years.
The table below demonstrates how even as home prices may drop, monthly mortgage payments basically stay the same; due to increased interest rates:
Scenario 1:
Prices decrease by 5% and interest rates increase by 0.5%
Scenario 2:
Prices decrease by 10% and interest rates increase by 1.0%
| Today | Scenario 1 | Scenario 2 |
Home Price $218, 900 |
Home Price: -5% $207,955 |
Home Price: -10% $197,010 |
Interest Rates 6.04% |
Interest Rates: +0.5% 6.54% |
Interest Rates: +1.0% 7.04% |
Monthly Payment $1,054 |
Monthly Payment $1,056 |
Monthly Payment $1,053 |
Table: Kadlec, Dan. "Ignore the Headlines!" Time 25 February 2008
Why should your clients spend months in a situation that they want out of when they can begin their new lives in their new home today, with less interest?
Use this information in conjunction with the great resources below, provided to you by Keller Williams University, to help your clients make the leap into home ownership.
An Agent’s Guide to Creating Urgency to Buy
An Agent’s Guide Financing Solutions
Additional resources:
Family Reunion Creating Urgency to Buy PowerPoint
Family Reunion The Buyer Consultation PowerPoint
Doing the right thing just became easier 
Making donations to KWCares through Greensheet deductions is the easiest way to help fellow associates facing hardships due to unexpected emergencies. Even $5 per closing can make a difference in a person's life!
Check with your MCA to set up regular Greensheet donations or contact KWCares at kwcares@kw.com
Supporting KWCares through Greensheet donations is the easiest way to donate.
Click here to find out how.
Medallions are now available at kellerwilliamsuniversity.com 
This year’s Family Reunion Award's Ceremony medallions are now available online, at the KWU store. This means that you no longer have to go to a separate site requiring additional login credentials. Order with ease and proudly display your achievements to the world (or at least your office).
Check the table below to see if you, your team or group are eligible and click on the award level to order:
| Award Level | GCI | or Units |
| Bronze | $60k-$119k | 15-26 |
| Silver | $120k-179k | 27-39 |
| $180k-239k | 40-49 | |
| Double Gold | $240k-$299k | 50-59 |
| Triple Gold | $300k-$399k | 60-74 |
| Quad-Gold | $400k-$499k | 75-99 |
| Platinum | $500k-$999k | 100-199 |
| Double Platinum | $1mil.-1,499,999 | 200-299 |
| Triple Platinum | 1.5mil.-$1,999,999 | 300-399 |
| Quad Platinum | 2mil.-2.499,999 | 400+ |
Check out the latest content on Gary Keller’s very own Website 
Get Amp'd with Gary Keller: Gary and Dave Jenks discuss the importance of focusing on what really matters and how goals without focus mean nothing.
Click here to view a preview of the newest Get Amp’d series - Focus
Also, check the other exciting new content just launched on Agent Mountain:
- Look ahead at 2008. Review our predictions for the market as presented in my 2008 Vision Speech.
- Learn the 17 critical traits that you must master in order to achieve mega agent status from Don Hobbs of Hobbs Herder.
- Discover why MAPS Coaching clients made four times more money in 2007 than agents who are in other coaching programs or not coached at all.
- Jay Papasan explains how to use our newest book, Your First Home: A Proven Guide to Home Ownership, as a powerful lead generation tool for
today’s market.
Remember you must be a KWConnect subscriber to access this new content
Click here to see what’s going on at the top.
Zero investment: Unlimited return!
Register today for the latest free MAPS coaching calls and keep your business ahead of the pack.
These sessions help you become more
productive and profitable.
ALC Committee Success |
Mon., March 10 11 a.m. -12 p.m. CST |
Steve Schlueter |
|
Listings |
Wed., March 12 11 a.m. - 12 p.m. CST |
Ron Wexler & Doris Carlin |
Each of these sessions is a $99 value, but MAPS is offering them to you for free!
See our entire free call schedule.
Q: If a consumer performs multiple searches on more than one market center Website, and with more than one KW listing agent, whose client do they become?
A: In this case, the early bird gets the worm. The best way to capture the lead is to be the first to cement the relationship with the consumer when they are ready to be contacted.
On KW.com, a consumer is free to conduct multiple property searches, and can potentially browse listing details from potentially more than one KW listing agent. We allow this open access in accordance with industry best practices – to encourage as many consumers as possible to access our market center Websites and featured listings from KW listing agents.
It is possible that a consumer can inquire with multiple associates or market centers. This is not unlike a situation in which a consumer calls two Keller Williams Realty yard signs that represent two different market centers, even though they are in the same residential community.
The eAgentC market center and agent Websites include a WolfNet® Back Office tool, which allows you to enforce consumer registrations and also to email consumers who have registered on your Website. The WolfNet Back Office provides the capabilities of monitoring traffic, managing user accounts, and communicating with those who register. We highly recommend making the most of this tool in order to capture online leads when they come to your Website!
Market Center Leadership Corner 
Who's going to step up with the shot clock winding down?
Follow the lead of Operating Principal David Taylor; drive your team to madness
The Douglasville and Paulding market centers in Georgia have started a productivity contest running throughout the 21 business days of March.
The concept is very simple but sure to yield big results:
90 minutes per day of lead generation (calls) with a 15 minute pre-game "pep talk" and a 15 minute "post-game chat" after they’ve completed their calls.
They are calling this month-long productivity frenzy...March Madness.
At the end of each day, small prizes will be given out to the day's top performers, followed by larger, weekly incentives to the week's top achievers.
Why not get your team to join the madness. Get ready to start those stopwatches and start making those calls!
New classes to take your business to the next level
April 7 – 10, 2008
Austin Airport Marriott South
Includes:
- Team Leader Clinic
- Operating Principal Clinic
- MCA Mastery
- MC Financials
Hotel cut-off date for Keller Williams room rate: March 17, 2008
The Marriott offers nightly shuttle service for Keller Williams event attendees to downtown Austin.
If using a market center credit card to pay for rooms during your stay please complete this Credit Card Authorization Form and fax it to the Marriott if you will not have the card in hand at check in.
April 13 – 18, 2008
Hilton Austin
Includes:
- Market Center Operations
- Market Center Launch
- Power Days
Hotel cut-off date for Keller Williams room rate: March 23, 2008
April 13 – 18, 2008
Hilton Austin
Includes:
- Business Planning Clinic
- Managing the MREA Office
- Systematizing Lead Generation
- Lead Tracking and Follow-up
- Buyers' Specialist
Comments or questions for THIS WEEK @ kw? We want to hear from you!
Contact us at marketing@kw.com.
