Coeur d'Alene Idaho Real Estate & Property Management

Ok - we aren't terrible at communication.  At the same time, we aren't excellent at it either.  After much thought and deliberation, I've decided to committ to my sellers, in writing, that I will communicate with them at least once a week, personally.  With the number of listings we have, this is a huge committment.  The 'personally' part may have to change in the future, but for now, it's me doing the communicating.

Normally we'll send out emails with links to their service report every few weeks, or call every few weeks.  That just wasn't cutting it for me, but I didn't want to implement something that I couldn't sustain, so I had to think about it and make sure I could do it.  It's a terrible thing to promise something and not deliver.  I definitely don't want to do that.

Right now I'm making direct phone calls every Monday.  It's pretty time consuming, although I definitely enjoy speaking with our clients. As I mentioned previously, I'll need to make changes as our listing inventory goes back up (we've sold a lot and I have slacked when it's come to getting new listings - my bad).  It's barely managable now, so it'll be the near future - I'll probably go to sending out emails to everyone who will allow me to do so, and then phone calls to those who really don't like email.

If any of our sellers are reading this, please share your thoughts, input, anything you can think of on this subject.  Thanks! 

I subscribe to a newsletter from Nightingale-Conant.  It's sort of a 'success/motivation/resources' type newsletter.  I get quotes just about daily and a content filled email about once a week.

Today's article hit right on and oh boy did this one every ring true in my ears:

"People who never achieve success do so because they fall in love with their excuses. It isn't the truth about yourself and your abilities that hurts you; it is the negatives you consider to be true that hold you back. Abandon your excuses and learn to overcome the obstacles to success ... one oil drum at a time." - Brian Tracy

Brian writes an excellent article about how to succeed, in a step by step manner. This article is about the attitude, not the mechanics.  Thing is, the mechanics won't help you if the attitude isn't right.

My biggest problem with people, when suggestions are provided on how to overcome something, or how to achieve something, they come up with excuses.  Excuses equal failure, plain and simple.

I hear over and over - excuses.  Excuses why a certain business model won't work for someone, excuses why focusing on the top 20% doesn't work, excuses excuses excuses.

When you show someone who's making excuses how someone else did it - that excuse maker will make even more excuses, 'they started from a richer family, they had a great mentor, they are a natural sales person' excuses excuses excuses.

When looking for people to add to your team, to mentor with, to interact with, separate yourself from those who make excuses.  I am always willing to share what I've learned, how I've achieved what I have (and I'm no where near the top of the heap) and when someone asks for help, I'll give it.  When that someone starts on the excuse train - I'm done, plain and simple.  It is not my job to motivate the excuse maker or to change the excuse makers way of thinking.

How do our expectations affect us?  How do expectations of others affect us?  How do our preceptions of this affect us?

As the quote says, don't live down to expectations, yours or anyone elses.  Live up.  Look up to what you want to achieve and keep your eyes 'focused on the goal'. 

It's about 'CMA's'.

When you get a request for a CMA, not a specific request to sell, but a request for CMA/Value (say from your website) - how do you handle it?

I want to provide the service for people (as it gets them into my database and then my systemized marketing does the work) but I don't want to spend a lot of time on a fishing expedition.  Know what I mean?

At this point, I'm only emailing a summary - not a full CMA - but it still takes me 30-45 minutes to do effective research and get them a solid price - and then, because of our market, there are 2 values: the likely to appraise value and the price it here to get it sold within 3 months value (and that's a short time on the market).  And of course, the CMA requests I'm getting are unique, not easy to value properties.  More time involvement.

I am wondering if I should be sending a pretty wide price range and simply say the value of your home is between here and here - and then followup with an appointment request to get specific?

I don't have a listing presentation - we haven't used one in pretty much forever.  For about 80% of our clients, it's simply not necessary as they are out of state and repeat clients (investors).   With that said, I'm working at generating local leads and we've been getting them and I'm wholly unprepared for the local listing presentation.  I'm fine 'winging' it - I have a marketing flyer, I'm comfortable 'on my feet'.  We've never even given out an 'official' CMA - ever - David rarely ever did either (my Dad and Mentor).

Anyway - help!  I'd really like input from people who get web CMA requests - knowing that most of them are not interested in selling (at least at this point) but still wanting to provide a 'service' of value.

Also, suggestions on listing presentation type and content or resources on where to find them.  I've found some stuff, but most of it just seems like presenting it would take insanely long - some of it is WAY too much information at once, etc.

Thanks in advance! 

Just went looking on localism.com and what do I see?  A fellow IDAHO REALTOR that STOLE a photo DIRECTLY OFF MY WEBSITE - a photo I HAVE COPYRIGHTED.  Did you think I wouldn't notice that you sliced off our website logo from the bottom?  Thank heavens for Digimarc and Copyscape! What's even more pathetic about this, my hubby posted the same picture on localism.com earlier today. 

Normally we send out an immediate cease and desist letter with a demand for damages, directly from our attorney.  I'll give them the benefit of removing this photo, and any others they may have stolen, by start of business Monday morning. 

FYI folks - this is theft, plain and simple.

Fiserv Lending Solutions and Moody's Economy.com are both known for their fairly right on predictions of the real estate market.  Fiserv is known for not being off by more than 2% on their predictions.  A pretty good track record.

In 2005, Fiserv predicted Coeur d'Alene would have a 12.8% appreciation rate.  Currently, the Coeur d'Alene Multiple Listing Service shows a recorded appreciation rate of 14.7% for 2006.  Fiserv is predicting Coeur d'Alene's appreciation at 7.30%.  As I've stated before, my prediction is that we'll see between 8% - 8.5% appreciation for 2007. 

Another interesting tidbit... United Van Lines released their 2006 Migration Study, based upon 227,000+ interstate moves.  12 states showed inbound patterns with Idaho coming in at #5 with a 59.3% inbound rate.

Top 12 inbound states:

1. North Carolina 64%
2. Oregon 62.5%
   
3. South Carolina 60%
4. Nevada 59.9%
5. Idaho 59.3%
6. New Mexico 57.9%
7. District of Columbia 57.9%
8. Alabama 57.5%
9. Utah 56%
10. Tennessee 55.8%
11. Montana 55%
    
12. Nebraska 52.5%
13. Minnesota 51.3%
    

Top 9 outbound states:

1. Michigan 66%
2. North Dakota 66%
3. New Jersey 60.9%
4. New York 59.5%
5. Indiana 58.2%
6. Pennsylvania 57%
7. Louisiana 56.4%
8. Ohio 55.8%
   
9. Wisconsin 53.2%
   

It is my intention to have a forum for all users of TP7i - to exchange ideas, suggestions, features usage, etc.  I don't want to create a debate about how TP7i compares to other programs.  I hope to learn more about the features and possibilities of TP7i through exchange of communication with other users of TP7i.  Other than that, I hope this group develops organically and we all become power users of TP7i.

Edited to clarify my 'debate' statement: Debate about TP7i is great.  What is not welcome are posts intended to promote another product over TP7i.  Comparison between programs is welcome and Gary David Hall has provided some excellent material.  In other words, if you are an AO user and have no intention of using TP7i, do not come on here and tell everyone how bad TP is and how great AO is (or any other CM program you use).

There are 5,476 properties on the market, 2,886 of which are residential homes.  The inventory is slowing moving upwards as is typical for the early spring market.  

We've already started to see an increase in prices from all sectors including existing homes and new construction.  Pretty much the best time to buy and sell is right now.  It's the 'equilibrium' point in the market.  

For buyers, prices are only going to rise.  Inventory will increase, giving you more options (as long as your price range is not at the entry level as entry level prices are increasing) to choose from.  Prices will also increase.

For sellers, with increasing inventory levels, the competition gets stiffer, making it take longer and longer to sell your home, unless of course you lower the listing price.

All in all, 2007 is shaping up to be a great year for real estate. 

In December, Congress passed legislation titled "Tax Relief and Health Care Act of 2006" with a provision that allows homebuyers to deduct the cost of mortgage insurance premiums they pay in connection with a mortgage obtained in 2007.

Under this new law, home buyers whose adjusted gross income is $100,000 or less can write off all of the premium costs.  Homebuyers with income between $100,000 - $110,000 can deduct a portion of the costs.  Buyers whose income exceed $110,000 are not eligible for the deduction.

Do you have a budget?  Both for your business and your personal life?  Do you stick to the budget as closely as possible?  How's your debt load?  Do you have debt beyond a mortgage(s)?  Why?  What are you doing to change that?

It is essential to have self-discipline in your financial life.  Financial issues are the #1 cause of divorce, the #1 cause of business failure and probably the #1 cause of a lot of other negative problems. 

Are you setting aside % for retirement . . . for taxes . . . for future projects . . . for leaner times?  If not, why not?  Saying you just don't have the extra cushion is an excuse, and not a very good one.  No matter how little you are making you should always be preparing for the future and for future emergencies.

If you are having financial problems, start getting rid of the drain on your income.  Do you really need the latest cell phone gadgetry?  Do you really need a brand new car with payments?  Are you eating out?  Are you getting coffee everyday from Starbucks or wherever?  Can you modify some of your business prospecting methods into things that are as (or more) effective but require less financial outlay?

KW offers a phenomenal economic model on how to run/build your business.  Ask a KW agent for this information, they are more than happy to share.  Read it, integrate it and live it.  Your business will thank you.