Transcript
Essex/Morris/Sussex RegionalSales Meeting
Fall 2009
Please DO NOT turn off your cell phone.
….just put it on “vibrate.”
Jimmy BucksJimmy Bucks
$500 Jimmy Bucks to the first person who answers this question correctly:
How can you rearrange the letters in How can you rearrange the letters in “new door” to make one word? “new door” to make one word?
Note: there is only one correct answer.
A A Company-Wide VirtualCompany-Wide Virtual Raffle Event Raffle Event – Sample Prizes– Sample Prizes
A cool cruise to the Caribbean
A cool cruise to the Caribbean
Flat Screen TVsFlat Screen TVs Netbooks (mini laptops)
Netbooks (mini laptops)
3 listings 3 Revenue Units 6 Open Houses
September 1September 1stst – December 21 – December 21stst
2010Begins in about two weeks!
What do I mean by “Must Do”?
(Things that work)
10 Must Do Action Items for 2010.
Before We Get Into That…..
The “story” is changing…Home sales appear to have hit a bottom but expect only a very modest
upswing in coming months. While housing affordability is extremely elevated — reflecting the combined forces of low prices and low mortgage
rates — we do expect the pace of home price declines to begin to slow noticeably in coming months. –David Greenlaw, Morgan Stanley
Next Price Trend
Economists Pronounce Recession Over
Wall Street Journal8-11-09
Fed survey shows US recession may be over
Federal Reserve survey shows worst recession since World War II may be over
WASHINGTON (AP) -- Economic activity is stabilizing or improving in the vast majority of the country, according to a government
survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over.
The Federal Reserve's snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other
analysts that the economy has started to grow once again in the current quarter.
Duration of 2009 ForecastDuration of 2009 Forecast
First-Time Buyers will continue to take advantage of $8,000 Federal Tax Credit
Historically Low Interest Rates
Affordable Home Prices – best in years
More Balanced Markets
Duration of 2009 ForecastDuration of 2009 Forecast
Higher-Priced Markets/Inventory Still Feel the Pain, slow sales, further price declines imminent
Balance of year, revenue units will be 20% higher than 2008
Weichert will continue to outpace general market
Chances of Raising Rate?
Near Zero
Housing Affordability continues to hover near highest level in 18
years.
Source: NAHB 8/19/09
Affordability is KeyAffordability is Key-Yun, NAR
8/2009
Lawrence YunChief Economist and Senior Vice President of Research NATIONAL ASSOCIATION OF REALTORS®.
http://www.realtor.org/wps/wcm/connect/6d961c804f813c84af2aaf6bc7937a4b/Economist+Podcast_090809.mp3?MOD=AJPERES
Podcast link:
According to the U.S. Bureau of the Census, the resident population of the United States, projected 09/22/09 at:
307,501,693
2020 340 Million People
2030 372 Million People
2040 405 Million People
2050 440 Million People
COMPONENT SETTINGS FOR SEPTEMBER 2009One birth every.......................................... 7 secondsOne death every...................................... 13 secondsOne international migrant (net) every…... 35 secondsNet gain of one person every.................. 10 seconds
Growth Offices –September 28Growth Offices –September 28thth West Orange Up 378%
Roxbury Up 200%
Vernon Up 150%
Hamburg Up 133%
Landing Up 88%
Mendham Up 67%
Mt. Lakes Up 67%
Randolph Up 67%
Parsippany Up 61 %
Chatham Up 40%
Kinnelon Up 38%
West Caldwell Up 33%
Livingston Up 29%
Madison Up 17%
Corp. Hqts Up 17%
Chester Up 4%
ReSale ListingsTop Three
As of 8/31/2009
Pam Willard Vernon
Duffy Brennan Sparta
Carol BrandonLanding/Lake
Hopatcong
SalesTop Three
As of 8/31/2009
Antje VirostekCorporate
Headquarters
Carol BrandonLanding/Lake
Hopatcong
Smith Ramchandani
Morristown West
Combined Revenue UnitsTop Three
As of 8/31/2009
Kelly Mitchell Vernon
Smitha Ramchandani
Morristown West
Gary Ribe Roxbury
Essex/Morris/Sussex RegionTop 20
14. Diane Saland, Short HIlls15. Antje Virostek, Corp. Headquarters16. Carol Brandon, Landing17. Diane White, Short Hills18. Marjory Davis, Short Hills19. Gary Ribe, Roxbury20. Sharon Hughes, Mendham
Essex/Morris/Sussex RegionTop 20
7. Mary Weichert, Chatham8. Didi Rosen, Livingston9. Eileen Scott, Mendham10. Audrey Katz, Livingston11. Shari Miller, Livingston12. Dawn Corbo, Sparta13. Brenda Klipper, Corp.
Headquarters
Essex/Morris/Sussex RegionTop 20
1. Arlene Gonnella, Short Hills2. Marlene Vegter, Madison3. Smitha Ramchandani, Mo-West4. Cherre Shwartz, Maplewood5. Nancy, Doyne, Corp.
Headquarters6. Lindy Peteet, Mendham
Essex County, Closed UnitsAs of August 31st , 2009
Morris County Closed UnitsAs of August 31st , 2009
Sussex County Closed UnitsAs of August 31st , 2009
Warren County Closed UnitsAs of August 31st , 2009
#1 Must Do
Get Social with Social Media.
10 Must Do Action Items for 2010.
50% of all leads generated within the next five years will be thru
social media sites
- NAR
Social Networking SitesFacebook, Linkedln and Twitter
Facebook More then 250 million active
users More than 120 million users
log on to Facebook at least once each day
The fastest growing demographic is those 35 years old and older
Great way to connect with people
Great way to get referrals
5 Simple Ways to Get Started
1. Set up your profile on2. Set up your Slideshare application3. Get started on 4. Answer Questions on Trulia Voices5. Answer Questions on Zillow Advice
#2 Must DoHarness the Power of Face
to Face. (more scarce = more impactful)
10 Must Do Action Items for 2010.
The End GameThe End Game
“I canceled my $4,500 web site and I’m using the money to host dinner parties.”
#3 Must Do
Create a “Tax Credit” Mentality with Buyers.
10 Must Do Action Items for 2010.
Tick Tock
.
Mortgage Application Deadline – 10/15/2009That’s less than 30 days away!
Why So Impactful?
71
Recent Sale Date
Property Sales Price Previous Sale Date
Previous Sales Price
Percent of Change
8/09 1 Copperfield Way, Randolph
$575,000 2/05 $730,000 -21%-21%
9/09 10 Condit, Mt. Lakes
$1,075,000 11/06 $1,275,000 -18.6%-18.6%
9/09 3 Heritage, Basking Ridge
$1,200,000 6/06 $1,610,000 -25%-25%
6/09 30 Louis Drive, Mt. Olive
$485,000 5/05 $685,000 -29%-29%
8/09 9 Old FordgeOxford
$271,500 9/04 $335,000 - 19%- 19%
9/09 44 Ridgedale,Morristown
$340,000 6/05 $376,000 -10%-10%
“The sale is made based on the belief of the salesperson, not the belief of the prospect.”
Step 1: Mentally think of a number from 1 up to 10.
Step 2: Take that number and multiply by 9.
Step 3: Take the result and add the number together (i.e. 72 = 7+2).
Step 4: Take that number and subtract 5.
Step 5: Take that result and equate it to a letter of the alphabet (i.e. 1=A, 2=B, etc).
Step 6: Think of a country beginning with that letter.
Step 7: Think of an animal that begins with the second letter of the country name.
"How many people are thinking of elephants in Denmark?"
I’m going someplace with this…
Seeing the OpportunitySeeing the Opportunity
Prices Rates
High
Mid-Range
Low
Let’s do this at our tables:1. Draw a V on a piece of
paper2. The top of the V is high,
the bottom is low3. Put a dot on the Prices line
to indicate where you think prices are right now.
4. Put a dot on the Rates line to indicate where you think rates are right now.
#4 Must DoWork the Trade Up.
(significant improvement spring 2010)
10 Must Do Action Items for 2010.
Your Home vs. the Home You’ll PurchaseYour Home vs. the Home You’ll Purchase
Home A Home B Cost of Upgrade
Past
Current
Difference
If the home you’re purchasing when you’re moving up has adjusted the same percentage of its value as the
home you’re selling, your move is now more affordable.
Your Home vs. the Home You’ll PurchaseYour Home vs. the Home You’ll Purchase
Home A Home B Cost ofUpgrade
Past
Current
Difference
Key Points to Remember• Sellers may be afraid to lose money in this
market.• Help them see how much money they can
save by moving up in a declining market.• Keep in mind… this approach only works for
people moving into a higher-value home that’s declining at the same rate or greater.
#5 Must DoAsk for your full fee and
negotiate from there.
10 Must Do Action Items for 2010.
2.5% to 3.5% is a ______ increase.
40%
2.5% to 3.0% is a ______ increase.
20%
#6 Must Do“UP” Your Personal
Brand Image.
10 Must Do Action Items for 2010.
New Weichert Signs (soon)New Weichert Signs (soon)
Touch Points:(Based on Actual Customer Feedback)
Signs: no stickers (name and cell)Open House Handouts: (customized with your
name and contact, color, etc)Property Brochures in your listings: use Quantum
Copy type quality brochuresPersonal Web site: Professional, Clean, Free of
Clutter, Updated Business Cards: Current & Professional photoCar: Must be clean
#7 Must DoBuild your E-Marketing
Database @ www.weichertimail.com
10 Must Do Action Items for 2010.
www.weichertimail.com
What do you do with these?
Email@
#8 Must DoUtilize Postlets (or like distribution service).
10 Must Do Action Items for 2010.
#9 Must DoLeverage Weichert.Com
10 Must Do Action Items for 2010.
On Weichert.com
Calls to WLN
Already working with an Agent and using the site to search for homes
Past Customers who will decide to use the same agent again
Going to ask a friend who to use
Taking offline action
2% of Weichert.com visitors 2% of Weichert.com visitors contact WLNcontact WLN
98% of our Visitors
are:
2% contact WLN
In August Weichert.com had 1,449,069 unique visitors, only 27,125 contacted WLN
Associate Profile pagesAgent profile pages
combined can get 200,000 to 300,000 views per
month
Make sure your profile is updated on WeichertOne.com!
Leverage Weichert.Com
84 Farley, Short Hills$2,900,000
1 Park Place, Short Hills$3,495,000
#10 Must DoNever….Ever…Ever….
10 Must Do Action Items for 2010.
…….Forget How Important Your Job is to .Forget How Important Your Job is to People.People.
The Top 10 Must Do Actions For 20101. Engage in Social Media2. Harness the power of Face to Face3. Create a “Tax Credit” mentality with buyers4. Work the Trade Up5. Ask for the full fee and then you can negotiate6. “UP” your brand image7. Build your e-marketing database 8. Utilize Postlets (or other distribution sites)9. Leverage Weichert.Com10. Never, ever forget how important your job is
Questions for me?
top related