When escrow is opened, what happens behind the scenes at the title and escrow company.
According to Michael Orr, a real estate economist with ASU and a bloke that knows more than most about Arizona’s real estate market, single family home sales are down 17% compared to this time last year.
Michael, in an article on azfamily.com this week, says that the housing market has officially hit a slowdown due to a stall in demand and that if current conditions persist, residential real estate prices could head south before the end of 2014, if not in the coming months.
See the data below for further proof of a slowing market with Active Listings rising while Sales decreasing.
Active Listings as of February 19, 2014
Sales as of February 19, 2014
The article can be found at http://www.azfamily.com/news/consumer/alerts/ASU-report-Phoenix-housing-market-hits-slowdown-245863201.html
No longer do you have the ability to post links and embed images into your Craigslist real estate postings.
What are you doing to adapt to these new changes? I know what to do. Call me and let’s chat about a new and improved strategy.
Read more — http://www.inman.com/next/craigslist-axes-enhanced-listings-forcing-agents-to-up-their-real-estate-marketing-game/
Notes and takeaways from the SAAR YPN event on Wednesday, October 16th at 5th & Wine at the Scottsdale Waterfront. The event was a Q&A style setting with Russell Shaw and Nick Bastian, entitled, “Learning to Fish: Catch the Good Leads, Throw Back the Bad”.
Want to differentiate yourself?
Russell Shaw: “Be FIRST!”
Nick Bastian: “Be Top of Mind!”
What is your Value Proposition?
Russell Shaw: “Buyers want properties, not agents”
Russell Shaw: “Sellers want to know you’re first”
Nick Bastian: “Be a resource and know your areas and property types”
Internet lead stats:
- Average Internet lead takes 180 days to purchase
- 1 in 90 buy after only a single contact (they’re ready immediately)
- 1 in 30 buy after additional follow-up (they need nurturing)
Average yearly turnover in a farm area (subdivision/community/area): 8%
Recommended books —
- 22 Immutable Laws of Marketing by Al Ries and Jack Trout (Amazon link)
Questions? Comments? Ready to start your own Internet Marketing or Farm? Let’s meet and put together a strategy!
Contact Aaron Lacey – 602-284-5370 / firstname.lastname@example.org
Perseverance (learning from failure) will generate better results, quicker, than passion.
Scott Adams, former commercial lender and the creator of the award-winning cartoon Dilbert, in an interview with the NY Times, talks about how passion is easily achievable after reaching some success, but initially, hard-work and perseverance will generate the best results.
See the interview below —
Read entire article by clicking here
Residential real estate agents have diverse backgrounds and operate their businesses in many different ways. Can you relate to the stats on this infographic?
Are you ready to step your business up to the next level? Contact me to discuss what ideas I have for making your business grow. 602-284-4108
Highlights for June of 2013 —
8,228 Monthly Sales in June (up 1.2% from June 2012)
9,246 New Listings in June (down .3% from June 2012 / down 6.1% from May 2013)
19,511 Total Listings on the Market in June (down 1.7% from June 2012)
$199,900 Median List Price in June (up 28.2% from June 2012)
$180,000 Median Sale Price in June (up 27.7% from June 2012)
8,027 Foreclosures Pending in June (down 55% from June 2012)
21.5% Distressed Sales in June (down 54% from June 2012)
66 Average Days on the Market in June (down 9 days from June 2012)
Top 8 Agent Concerns with Solutions
Written by Aaron Lacey
1) Inacurate Information Online
Concern: Homeowners are going to Zillow or Trulia to determine home values and other market information.
Solution: Inform homeowners of flaws with these valuation websites — inacurate data, out of date information, flawed valuation logic.
2) National Media
Concern: National news focusing on national real estate market, which sets unrealistic expectations to homeowners in their local market.
Solution: Real estate is localized; therefore, national real estate news is not a good determiner of local market conditions or performance.
3) Market conditions
Concern: Low inventory/unpredictability of the market.
Solution: You can’t change what you can’t control. Instead of worrying about what is happening, use market statistics to forecast direction and prepare your business for upcoming changes.
Concern: Home Sellers have an unrealistic view of their home’s value and want to list at a price much higher than market value.
Solution: Inform Seller of the newly changed market by using market statistics.
Concern: Homeowners are still underwater and therefore not able to sell.
Solution: Inform of the benefits to performing a short sale. Then, utilize a Short Sale service like NATSSTAR to take the time, frustration, and head-ache out of the Short Sale process.
Concern: Multiple offers on homes and/or too many investors buying quickly with cash.
Solution: Know what properties are new on the market immediately via an automatic MLS notification. Utilize an electronic signature service like Docusign to get Buyer signatures on paperwork quickly.
Concern: Difficult lending (underwriting) requirements.
Solution: Many potential home Buyers don’t realize that they may be able to qualify for a mortgage. Talk with your Mortgage partner to determine updated requirements.
Concern: Appraisals coming in low.
Solution: Educate the appraiser with sales comparables and other market information that justifies a different appraisal value. Do this easily with a home valuation tool like Priority Access — contact me for free registration.
Concern: Buyers wanting to submit a “low-ball” or well below market value offer on a home.
Solution: Inform Buyer of the newly changed market by using market statistics.
6) Other Agents
Concern: Other real estate agents are unprofessional.
Solution: Be different! You have an advantage by acting in a professional manner.
Concern: Lack of teamwork/support.
Solution: Start a new culture at your office or in your market. Align yourself with partners in Title & Escrow and Mortgage to build a team that you can trust.
Concern: Discount commissions.
Solution: Establish your worth through the use of an effective presentation and supporting materials. If your brokerage does not provide these presentation materials, reach out to your Title Company partner for assistance.
Concern: How to manage social media/website (Facebook, Google+, LinkedIn, Pinterest, YouTube, Twitter, blogging, and more).
Solution: Your first step she be to determine what your online strategy is — in other words, what do you want to accomplish with an online presence? This will be the ultimate litmus test on what you should be doing online and how you should be doing it.
Concern: What to write about, frequency, etc.
Solution: This will be based on your online strategy — you can target Buyers, Sellers, or simply establish yourself as an area expert in your market. Set a weekly schedule and stick to it. A few simple sentences is all you need. Adding relevant imagery is good for attracting attention. Linking your social media posts back to your website increases your opportunity to convert a visitor to a lead.
Concern: How does this ultimately impact my business?
Solution: I’m glad you asked — this is the most important piece in the online strategy pie. Results of your online efforts should be closely monitored and evaluated in order to determine effectiveness. Utilize services such as Facebook Insights and Google Analytics, to name a few, to determine success.
8) Time Management, Organization & Staying Motivated
Concern: Not enough time to accomplish tasks — need more hours in the day.
Solution: Time blocking, utilize a CRM, assign tasks to members of your team — these could be: (virtual or physical) Assistant, Transaction Coordinator, Buyer’s agent, Seller’s agent, Secretary/Office Manager — or your business team: Title Company Business Developer or Mortgage Loan Officer.
Concern: Lack of motivation.
Solution: Determine what drives you/what you care about — create a vision board to view your goals in one place; place family photos around your workspace; put motivational quotes on post-its and place in visible places.
Do you have questions on any of these concerns? If so, call Aaron Lacey for clarification — 602-284-4108 or via email at email@example.com
Agents, Brokers, and Lenders –
We are in the advising business. Our goal is to be the “Trusted Advisor” to our clients; the asset on their team who is looking out for their best interests. With that said, are you employing the skill of identifying the true desire of your client and then advising based on that knowledge? If you’re not, then you’re missing out on a great opportunity to better assist your clients by helping them figure our their true motivation.
The idea came up from an article I read entitled “Selling with emotional tension”. In the article, Roberto Manaco talks about “Future and Past tensions”. By asking powerful questions that uncover the true motivation for your client’s decision-making, you can utilize the future and past tension strategy to create a true win-win.
Here’s the article – http://influenceology.com/business-growth-strategies/selling-with-emotional-tension/
If you’d like to explore a win-win strategy with your business, reach out to me via email or phone (602-284-4108) today. I’d love to grab coffee with you and discuss how you can increase your income by utilizing not only this strategy, but others.
My Customer Commitment
My commitment to each and every customer is to ensure that I consistently exceed their expectations at every opportunity. I pride myself on ensuring that my business relationships are treated with the utmost of care, urgency, and integrity at all times. In addition to superior service, my customers receive business consulting assistance with leading edge technology, including – web/e-mail/drip marketing campaigns, websites, social media strategy, lead generation, and utilizing mobile apps. My customers have choices when it comes to title and escrow services, so ensuring that American Title Service Agency is their first choice requires more than an ordinary commitment, it requires an extraordinary one that only a true partner in business can provide.
— Aaron Lacey
I’ve spent almost a decade in a real estate capacity, whether it is sales, marketing, or management positions, in commercial, residential, and land. In addition to my real estate experience, I have a background in Internet development and marketing. I’ve built CRM platforms, lead generation systems, fully featured IDX websites, and assisted with the development of mobile applications. This collective knowledge and experience gets passed on to my customers. When I’m not helping a customer with their business needs, I can be found enjoying a meal at a locally owned eatery in Central Phoenix, out for an early morning hike up Piestewa Peak, or serving on the board of directors for Prevent Child Abuse Arizona where I chair the communications committee.
More information about Aaron – www.YourEscrowPartner.com
More information about American Title Service Agency- www.AmericanTitleServiceAgency.com