US Won’t be Nation of Renters

November 24, 2011 1 Comment

I read an article last week from Carla Hill, M.A., who works as the Managing Editor at the online publication, Realty Times, that describes the advantages of homeownership.  Her points were well presented so I thought I would share them here – - -

According to the National Association of Realtors®, (NAR) the U.S. will not become a nation of renters.

Currently, over 65 percent of Americans are homeowners, a rate that has held since the 1960s.  It’s no wonder why most Americans seek out a home of their own.

Homeownership has both financial and social benefits.  According to the most recent data from the Federal Reserve Board, a homeowner’s net worth is 45.9 times that of a renter’s.

“We knew that homeowners, on average, accumulate more wealth than renters,” said Ken Johnson, editor, Journal of Housing Research at Florida International University.  Johnson spoke at the session and conducted the analysis with Eli Beracha.  “These findings indicate that homeownership is a self-imposed savings plan.  Not everyone should own a home, but from a financial perspective, people who are planning to stay in a property over the long term can benefit from buying.”

This is no wonder why.  Despite recent declines in home prices, historically prices do rise over the long-term.  This means an owner is paying towards an asset.  They are building equity.  A renter, on the other hand, is paying for a living space for that month.  It is not money invested. Read more of this post

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Instill Some Zappos in Your Business

October 23, 2011 Leave a comment

Zappos: Delivering "Wow!"

Want to invigorate (or reinvigorate) your business?  Why not take a cue from Zappos.com who sells over $1 Billion worth of merchandise every year.  They are  known as a company that gives great customer service that just happens to sell shoes.

Here’s a list of Zappos’ top 10 ways to instill superior customer service from the book Delivering Happiness: A Path to Profits, Passion and Purpose by Tony Hsieh.  (NOTE: my comments are in BLUE)

 1. Make customer service a priority for the whole company.  Every program and service offered should revolve around the customer – not you.

2. Make “wow” a verb that is part of your company’s everyday vocabulary.  Strive to hear your clients say “Wow!”

3. Empower and trust your customer service reps.  The more you empower others, the more time you will have to deliver.

4. Realize that it’s okay to fire customers who are insatiable or abuse your employees.  Stop trying to work with anyone who sucks the life out of your enthusiasm.

5. Don’t measure call times, don’t force employees to upsell and don’t use scripts.  If you help clients to attain their goals – meeting your goals will follow naturally.

6. Don’t hide your 1-800 number.  How easy are you to find?

7. View each call as an investment in building a customer service brand.  Practice SMILING when you pick up the phone.

8. Have the entire company celebrate great service.  Collect client references and share them with others (HINT: you’ll need to ask for them).

9. Find and hire people who are already passionate about customer service.  Only work with vendors who share your passion for service – they are a reflection of you.

10. Give great service to everyone: customers, employees and vendors.  You never know who might be looking for a home in the future.

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The Rise of Mobile Websites

October 8, 2011 1 Comment

How do you access the internet?

Real estate advertising on the web is changing – Again!

According to an eMarketer forecast, by 2014 an estimated 53.9 percent of mobile phone users in the United States will access the Internet through a mobile browser or application.  This translates to about 44 percent of the total U.S. population.

On average, people check their phones 150 times per day.  That is one glance every six and a half minutes.  This is bordering on an addiction.

In the next three to four years mobile Internet traffic will surpass desktop Internet traffic, driven by mobile Internet/data enabled devices.  If real estate companies and agents don’t embrace this technology, they’ll be left in the dust when it’s time to hand out medals for those who are thriving in the new world of real estate.

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Dying on the Vine

October 6, 2011 2 Comments

It is more important than ever to select a real estate agent that not only knows what they’re doing, but also can guide a buyer and seller through the complexities of a real estate transaction.

A recent study by the National Association of REALTORS® hits home on this point.  In August of 2010, 9% of all purchase agreements for real estate never made it to the settlement table.  Now – fast forward one year – the percentage of contracts canceled has doubled!  That’s right; we now sit at 18%.  Not a pretty figure.

There are many reasons for the explosion of unfulfilled contracts: appraisal issues, increased scrutiny of borrowers by mortgage lenders, home inspection problems, complex contractual documentation and unrealistic expectations of both the buyer and the seller.

So if you are about to get involved with a real estate purchase or sale, do yourself a favor and secure the services of a competent, reliable real estate agent.  After all, you want to be one of the 82% that successfully ends up sitting at the settlement table.

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Prudential HomeSale Hits WGAL TV 8

October 5, 2011 Leave a comment

Prudential HomeSale’s television advertising campaign hits WGAL TV 8 this morning.  Many thanks to Laurie Czaplinski and her Agent Services department for spearheading this effort.  Just One More Reason . . .

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Five Star Customer Experience

September 28, 2011 Leave a comment

I love the simplicity of this short clip on the ‘New Consumer.’  Here’s to you delivering a FIVE STAR customer experience!!!

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REALTORS® Property Resource – The Good, the Bad and the Ugly

August 28, 2011 3 Comments

The REALTORS® Property Resource (RPR) is finally here in the Greater Harrisburg area.  Late last week, the Central Penn Multiple Listing (CPML) service turned on the spigot and rich, property data started flowing to its members.  Not that anyone noticed.  In fact the unveiling of this powerhouse tool for REALTORS® has been one of the best kept secrets in the Mid-State.  Go figure!?!

In case you’re one of the majority of REALTORS® or consumers who is wondering what the heck is the RPR, all you have to do is go to their blog site to get an overview.  If you’re looking to make sense of how the RPR may impact the real estate industry, read one of my previous blog posts on the subject.  I’ve been on record for over a year saying that I think this endeavor by the National Association of REALTORS® will cause major upheaval in our business – mainly with how local Multiple Listing Services (MLS) will function in the future.

So now that it’s here, let’s look at the product from different viewpoints and perspectives – in other words – the Good, the Bad and the Ugly sides.

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Prudential Survey Shows Optimism Among Americans

July 26, 2011 1 Comment

Americans Believe in Real Estate

The majority of America’s potential homebuyers and sellers — 68 percent — believe that the real estate market and property values will recover in the next year or two, according to a new survey by Prudential Real Estate and Relocation Services, a Prudential Financial, Inc. company.  This exceeds the 47 percent of Americans who expected house prices would rise in a similar survey conducted in April 2010, underscoring a more bullish outlook for the real estate market today.  In addition, 86 percent of Americans believe real estate is a good investment despite the market volatility of the past few years.

The national survey reveals that six in 10 respondents are more interested in buying real estate (58%) and are optimistic about buying given the momentum of the economic recovery (59%).  It also shows that although the price of many Americans’ homes declined during the recession, 89 percent recognize they can also buy a new house at a lower price.

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