Real Estate Agent 2014 Business Building Checklist

real estate agent2013 was a great year, but next year can be better… here are some things to do to get yourself ready for 2014.

Goals
Setting revenue goals now will be key to growing your business. Here’s how to do it: Imagine a realistic number that you would like to earn in 2014. Then, imagine how many more clients you need to serve to get there- is it 10 more clients? That works out to roughly one more a month. If 10 percent of your prospects become clients, you will need to increase your overall reach/database by 100 people per month or 1200 per year. Now… do the rest of your checklist with that number in mind.

Social Media?
No strategy or fuzzy one? Put together a calendar of posts/blog topics to put online in January. Set it up via services like hootsuite.com to help you remember to make it happen each month.

Blog and E-Newsletter
These go hand-in-hand. If your strategy for this is not strong, read up or enlist the help of someone who knows how to do it. Content is king, so if you’re not a writer or don’t have time you’ll need to find a professional who does. While you may not have a clear “ROI” number for this, it will help expand your reach and keep you top-of-mind.

Client Communication
What will you do/send each month to remind them of you? No budget? Go with the e-newsletter only for now, but realize that sending things of value in the mail is a great way to ensure your clients will get your message.

Perks for Sphere of Influence Contacts
Who brings you clients? Set up a schedule for checking in with them and taking them to lunch/out for drinks.

Major Takeaway from all of this: Plan ahead! The successful agents you know leave nothing to chance. Being as busy as you are, makes schedule time for this to happen a necessity.

Are you in need of fast answers and reliable service related to a mortgage? Call us today: 913.396.4448.

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Overland Park vs. the Nation

Much has been discussed about the upward trend of rising home prices and low inventory on a national level, but in looking at all of this I was forced to wonder exactly how our local Overland Park statistics were faring vs. the national picture. What follows are some interesting statistics I found via the Heartland MLS and the takeaway.

  • 190 homes sold in Overland Park in April 2013, down 19% or 19 less than in April 2012.
  • There were 1,048 homes for sale in Overland Park in April, down 15%, compared to the same period in 2012.
  • The median price for a home in Overland Park for April was $212,750, compared to $234,500 in April 2012, a decrease of 9% or $21,750.
  • There were 204 homes under contract in April compared to 270 for the same period last year. A decrease of 24%.
  • Overland Park homes were on the market an average of 65 days, a decrease of 10% or 10 days less than a year ago.
  • April reported 3.9 months supply of homes, an increase of 23% compared to the same period in 2012.

The local numbers look pretty bleak in the face of all the good news we’re hearing about the rest of the country. If you remember back when the bottom dropped out of the market a few years back, we were still not faring as poorly as the rest of the country, so why does it look so bad now compared to 2012? Aren’t we in line with the country, too?

Yes. We’re actually right in line with the rest of the country, but the lower inventory is pushing all of the numbers lower except the number of days a home is on the market. From talking to realtors in surrounding locales like Leawood and Prairie Village the low inventory is forcing bidding wars and pushing home sale prices 8-10% above what they list for.

The Takeaway: For people who are staying in their homes (thus holding inventory low), it seems that many of them are waiting for their home prices to rebound to pre-crash levels in order to recoup the value lost. However, with interest rates this low, talking to a realtor or mortgage banker to better understand your home’s value and any financing opportunities is your best move.

Are you in need of fast answers and reliable service related to a mortgage? Call us today:
913.317.5626.

This Time, It’s Different…

Earlier this month, Standard and Poor’s (S&P’s) Ratings Direct sponsored a Housing and Commercial Real Estate Roundtable to discuss the housing market and what many hope is a true recovery.  All those in attendance agreed that this time, we are truly in a recovery. While many people have theorized this statement over the past few months, the bigger question here is WHAT specifically makes it different this time (and possibly more importantly… are these factors enough to make it stick)?  The roundtable specifically pointed to these factors:

  • Most critically (as stated by Roundtable Participants) is the 6.8 national increase in home prices in 2012.  S&P projects that prices will increase another 8 percent this year.
  • Robust sales, falling if still elevated mortgage delinquency rates and foreclosure sales and increasing residential homebuilding are all key indicators that the sector is rebounding.
  • You may remember that in 2010, we had what felt like a recovery.  However, at that time, it was shored up by government tax credits and other financial supports.  With those levels of aid no longer in place, we can gain a true indicator of consumer sentiment.
  • Shadow inventory is diminishing as home prices rise pushing homeowners into positive equity positions.

While optimism is high, for a complete recovery the 40% gap between new and existing home median prices would have to diminish.  However, in spite of this, Erkan Erturk still believes that even the Fed’s support of Mortgage Backed Securities (MBS) could disappear and a full recovery would still occur.