December 29, 2006

Have a happy, healthy and prosperous New Year!

 

A $50 late charge has been assessed on any payments postmarked after Dec. 1^st. Dues must be paid by the end of the year to keep your membership active. If anyone will be going inactive by the end of the year, please call the SCAOR office at 855-2300. Dues are not refundable if you go inactive after January 1, 2007.

 

For those of you who have not picked up your SentriLock key cards, we have scheduled specific hours for pick up. Due to the increased volume of traffic at the SCAOR office, we are asking everyone to pick up their cards between 9-11 a.m., Monday through Friday.

 

SentriLock is pleased to present a Training Webinar for the Sussex County Association of REALTORS^®. A Webinar is short for Web-based Seminar which is viewed via the internet along with a teleconference phone call. Space is limited.

REMINDER: THIS IS AN ONLINE CLASS!!!  DO NOT COME TO THE ASSOCIATION OFFICE!!!

Sussex County Association of REALTORS® Webinar

Friday, January 5, 2007 at 11:30 a.m.

- OR - Friday, January 5, 2007 at 6:00 p.m.

 

Committee members play a valuable role in SCAOR. We all rely on their time and talent. As 2006 ends and we prepare for 2007, we thought it was appropriate to remind everyone of our policy regarding attendance at Committee Meetings.

1. Any Committee member who fails to attend three (3) regular or special meetings of the Committee, without an excuse acceptable to the Chairperson of the Committee, shall be deemed to have resigned from the Committee, and the vacancy shall be filled as herein provided for original appointees.

2. Any Committee Chairperson who fails to attend three (3) regular or special meetings of the Board of Directors, without an excuse acceptable to the Board of Directors, shall be deemed to have resigned from the Committee, and the vacancy shall be filled as herein provided for original appointees.

Help your Committee ensure the agenda moves forward, that a quorum is present, and that you make your valued contribution to the Committee through your attendance and participation in meetings.

 

Property investors obtained large mortgages during the most recent housing boom in the hopes of capitalizing on rapid home-price appreciation by quickly buying and reselling, or "flipping," single-family homes and condominiums. No more.

In the current market downturn, investors are focusing their attention on small rental apartment and commercial buildings, primarily in Texas and other markets where price gains are still anticipated.

Rather than flip these properties, investors are concentrating on cash flow and generating profits over the long term. Developers, especially those in Florida and Philadelphia, are responding to market changes with deals that promise five years' worth of rental income.

Investors accounted for only 8.4 percent of home sales from January through September, according to First American Loan Performance--down from 9.5 percent during the corresponding period in 2005. In the third quarter, the company reports a 70-percent drop in mortgages to purchase investment homes from the previous July-through-September period. Deerfield, Fla.-based real estate consultant Jack McCabe says investors have largely fled southern Florida, Phoenix, Las Vegas, San Diego, and the District of Columbia--markets where high home prices and a slowdown in sales have made property investments less feasible.

Experts report that single-family homes and condos will experience minimal appreciation during the next five years, and investors who bought during the boom either can sell at a discount or take a moderate loss by holding onto their properties while waiting for the market to pick up.

Source: Wall Street Journal, Ruth Simon (12/24/06)

 

Phone sales techniques simply will not work with online consumers, who value anonymity and want to be in control. Unlike in phone sales, which is largely about taking control as soon as possible, selling to online consumers is about giving up your need for control and concentrating instead on building a relationship. Here's a look at some of the important distinctions between the Internet-empowered consumer and phone prospects. Understanding these differences is central to developing a practical and effective protocol for converting online inquiries to closed transactions.

• Anonymity. The online consumer is completely anonymous, which creates an impenetrable buffer between you and them. Even if you don't know the name of your phone prospect, they feel less anonymous either because you have their phone number or because they feel uncomfortable dealing with a sales personality on the other end of the line.

• Control. Since the online consumer is anonymous and communication with them is usually asynchronous (i.e. non-real time), they are in control - and they like it that way! Phone prospects on the other hand, often feel "controlled" because of the intimate nature of the real time communication with your sales personality.

• Privacy. Online consumers insist on having their privacy kept sacred while phone prospects typically feel a sense of intrusion from your call and little privacy.

• Information. Online consumers are typically much more informed about the market, neighborhoods, and the types of property they want. They also value the ability to obtain information easily without having to disclose who they are. Phone prospects must go through you for their information, which gives you a sales advantage.

How you respond to an online consumer's initial inquiry, typically via e-mail, will make a huge difference in whether you will build rapport, trust, and a relationship that eventually leads to a sale. Show that you understand them by "speaking the language" and you'll enjoy a higher conversion rate. Here's an example:

This typical inquiry comes into your inbox from an online consumer:

From: jane454@msn.com
Subject: 3500 Sycamore Lane
Message:

Saw this listing on your website, would like more information. Jane

Here's how you can respond in a way that will greatly increase your odds of converting Jane from a casual and anonymous inquiry into a serious client:

To: jane454@msn.com
Subject: RE: Your inquiry about 3500 Sycamore Lane - from Mary Agent
Message:

Hi Jane,

Thanks for stopping by my site at www.AtlantaFirstHome.com. You will find the information you requested attached for your review.

In the meantime, I realize that you are currently in the information gathering stage and may not be ready to "open up" about who you are or what your needs are at this time. Be assured this is perfectly okay, and that my staff and I will completely respect your online privacy.

Also, keep in mind that my ability to help you is dependent upon understanding your particular needs and wants with respect to finding a home. So when you are ready to explore your real estate needs further, I will be happy to assist you.

Have a great day, and I look forward to hearing from you.

Mary

P.S. As a way of saying "thanks" for visiting my site, you will receive a complementary subscription to my information-packed monthly newsletter, FIRST HOME News. This is written specifically to help first time buyers get the home of their dreams while avoiding transaction nightmares. If at any time you no longer wish to receive this newsletter, just click the link at the bottom of any issue.

"I turn your first-time home dreams into reality!"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Mary Agent Real Properties 1000 Peachtree Ave., Suite 100
Atlanta, GA 30111
Phone: 770.555.1124
Fax: 770.555.1530
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Helping families into Atlanta homes for over 20 years
Real estate licensee in the State of Georgia

Know What Works Online
Just as there is a structured approach for using the phone that can vastly improve your odds of turning a prospect into a client, the same holds true of working with online consumers. The key is to understand that what works on the phone, will not work online. Learn to speak the language of the online consumer and chances are very good they will want to work with you.

 

Article 3

REALTORS^® shall cooperate with other brokers except when cooperation is not in the client's best interest. The obligation to cooperate does not include the obligation to share commissions, fees, or to otherwise compensate another broker.

Standard of Practice 3-1
REALTORS^® acting as exclusive agents or brokers of sellers/landlords, establish the terms and conditions of offers to cooperate. Unless expressly indicated in offers to cooperate, cooperating brokers may not assume that the offer of cooperation includes an offer of compensation. Terms of compensation, if any, shall be ascertained by cooperating brokers before beginning efforts to accept the offer of cooperation. (Amended 1/99)

Standard of Practice 3-2
REALTORS^® shall, with respect to offers of compensation to another REALTOR^®, timely communicate any change of compensation for cooperative services to the other REALTOR^® prior to the time such REALTOR^® produces an offer to purchase/lease the property. (Amended 1/94)

 

Business License Fee

As the year comes to an end, I thought it might be helpful to remind you that if you are selling real estate in certain towns or municipalities in Sussex County, you need a business license to do so.

Find out more at the Rookie Corner >>

 

© Copyright 2007 Sussex County Association of REALTORS^®
23407 Park Ave., Georgetown, DE 19947, USA
Phone (302) 855-2300  ~  Fax (302) 855-2319  ~  info@scaor.com  ~  www.scaor.com