100's of CRS's attended Sellabration this year to hear industry leaders share how to Thrive in today's real estate environment.

Here are some ideas I took notes on.

Sellabration 2010

 

 

Ira Serkes

 

            Graph – percent of asking versus original asking

                        X is days on market and Y is percent of asking

 

Sam Miller

            Kodak Zi8 Video

            RED Scarlet 3K Video – Higher Priced

            Canon 7D DSLR – Video and Still Camera

            So watch for the Sony

 

            iPad – think of it as a consumer device. Because it is so small

                        WiFi or 3G

            Lenovo S10 3T Tablet – about $1000

 

            Smart phones

                        Palm Pre –

                        Blackberry Tour – good keyboard, good email, weak browser

                        Droid X – Verizon based – can shoot video, droid & Google  app creator

                       

            WiFi cards      

                        Verizon 2200

                        Sprint will be going to a 4G, it is already out

                       

            iPhone – 4G

                        Can do video

                        Face to face

                        Financial Calculator App is available

                        Mortgage Calculator – razlaze

                        Trulia iPhone

                        Homes.com

                        Zillow.com it has very good mapping

                       

            iPod into a Hard Drive – Google this

           

            Network File Server – Buffalo Terastation Server – remote login

 

            Solid State Drives – Longer Battery Life

 

            Huge Flash Drives – 250 Gig flash drives are available

 

            Dropbox is great for virtual assistants and sharing data

 

            Cloud computing – Real Pro is that

 

            David Knox and send a view of the video

                        Realestateconsumervideos.com

 

            QR Codes Ideas & Uses

                        Facebook using QR codes

                        Qrcode.kaywa.com to get one

 

            Fijitsu USB Scanner-creates all the paper work

 

            Portable Printing – Hp 470

 

            PC best - Lenovo X201 Tablet

 

            Slydial

 

Social Media and Beyond – Deborah Madey

 

            Youtube.com – good seo and googlejuice

                        Video cities you live in

 

            Twitter –

 

            Foursquare – location based social networking site

 

            Flickr – great place to put your photos

                        Kristal Kraft has done a lot with photos

 

            Yelp – trip advisor to see what others have to say

 

            Postris.com- blogging account and also networking your phones

 

            Taking it Offline – IRL – Face to face

                        Meetup.com – zip code and see the meet up groups

 

            Real estate related

                        CRS – blog, FB, LinkedIN

                        NAR –LinkedIN

                        Trulia

                        Zillow

                        Active Range

                       

 

           

 

James Nellis – Social Fusion

 

            The cost of it is time.

 

            What are the 2 items you want to accomplish?

                        Complete transactions because of this

 

            Social selling

                        It is a consultant approach

                        Lose the salesperson hat

                        Be consistent

                        Disciplined with it, using proper time

                        Be yourself rather than sell your real estate

                        Use the FORD concept on your posts

                        Keep your posts of 10 for personal and 1 for business

                       

            Target market your people – look at your profile name, profile photo, profile bio!

 

            Bio – hobbies, business commitments,

 

            Status comments – keep it social, engage others,

                        LinkedIN – not listing, about the area

                        Facebook – it’s a marketing brand of your firm

                                    Create a list of personal, business, client, vendors, Realtors,

                                                Referral Realtors, relatives,

 

            If you do photo in of your area of landmarks. If you do 2 a week after a year you         

            would have over 100.

 

 

            Real Estate Group or Business

                        Business Page -  customize your business page – sending

                        Facebook.com/nellisgroup

 

            LinkedIn is a business to business network, a personal connection

                        Be sure to get your recommendations this

                        See if you can get 1 recommendations a week

                        Establish 10 new connections a week

 

            Flowtown.com – put email in and you will see the medias they are in.

 

            Twitter – direct message to a person or @username you want to connect with

                        Search.twitter.com

                        Tweetgrid.com

                        Twitpic.com

                        Make 10 posts a week

 

            Customized posterous page on your web site

 

            Calljuice.com – put all the phones of team with the money line directed to for the 1st acceptance.

 

The Extreme Future: Reshaping of Real Estate – James Nellis and panel

 

            Kill Your Future – What will happen and what will we be

 

            The New Consumer

                        Being ready instantly

                        The boomer with retire later, staying in homes longer

                        Unconsumption Generation – Trade, Rent, Auction

                        Adapt technology quickly

                       

            Brokerage Change

                        A mobile agent- the mobile office

                        Bricks and mortar are not needed

                        Buy your space by the day

                        Open office between Starbucks and Kinko’s

                        People – Systems – Technology

                        Education of your agents with online and in-house

                        Building team

                       

            Technology

                        Hype Cycle – a great book – Gartner Hype Cycle

                        Second mover advantage – analyze and then adapt

                        Woopra.com – it allows you to see how is on your website live

                       

            Referrals

                        The Seven levels of Communication

7. 1 to 1 meeting

                        6. Events and seminars -

                        5. Phones calls – Hour of Power

                        4. Handwritten notes

                        3. Electronic communication

                        2. Direct mail

                        1. Print media

           

                        Private client party

                        Brian checks his models every 30 days

                        Julie Beall does a radio show

                       

            Buyer Future System

                        Lead organization – social media, realtor.com, websites,

                        Asking the buyer how they want to be communicated with

                        Email to email, text to text, phone to phone, whatever the communication

                                    they use.

                       

Pipeline Management to Grow Your Business

 

A Lead

B Lead

C Lead – three calls and no response then to a drip campaign

 

DISC – now that in your emails

            Different campaigns for the D I S C

            Understand people because we are in the people business

 

Excel

Name   Buyer/Seller      Contact Date    Most current     Motivation        Source

 

Real Pro Backend to help with the leads

 

Heidi Hines idix site look at from Real Pro

 

Kubek’s site has weather from wunderground

 

Professional design ads to stealth sites through newspapers, Craig list,

 

Promotes bank owned on Craig’s List

 

Demand the phone number

 

Lead on iPhone from Real Pro looks good

 

By leaving out the something like the garage it gives the opportunity to talk to the client about that so that you can talk with them.

 

Heidi has the Platinum Level

 

Newsletter with statistics, giving them information. Send them real stuff about real estate.

 

The letters should be looked at by an email is a writer that is not a Realtor.

 

You could use Market Snapshot from Top Producer

 

Calendar System on the back end of Real Pro, it will work with outlook.

 

Call all prospects within minutes, who is your agent, take lots of notes, be assertive

 

Ask open ended questions.

 

 

 

 

Listing Power Panel

 

Bolin, Morris, Rawls, Shaw

 

Talking a lot about on the front end questions? Ask what they are thinking of the market. Mortgage, payments, motivation, when did they buy, etc

 

You need to know the submarkets within your market.

 

Presentation – short sale – the price shouldn’t matter them

            Russell is not interested in listing upper bracket unless they are interest in

            Sellers today needs to be have to sell

            4 months supply is seller, 6 months is balanced, 8 months is buyers market

            Have you seller initial your price so that they are on the line, probably doing a

                        Net sheet with buyer closing costs if applicable

            We are in price war and a beauty contest

            3 types of sellers – Want, Must, Banks

            Hire an appraiser for the seller to get the reality of value

            Cost does not create value, value in use e.g. swimming pool $80000 to put it yet

                        Valued at $15000

 

Definition of Marketing

 

Managing your sellers expectations

            Be selective on what you take

            Lending guidelines harder, inspections with buyers asking for a lot

            In a rising market you are a hero, in a declining market you must let them know

                        the circumstances

 

Scripts and dialogs

            I don’t make the market

            I work hard to help my sellers out perform the market

            I don’t list houses just to have them sit.

            I list house is to help my sellers get their homes sold

            What do you think of the real estate market?

            Brenda is going to personally meet with each seller each month

            I don’t have to take their listing.

            I don’t need the practice of listing

            I am not sure I can meet your expectations

            The reason for the listing appointment that I can get the right price, I can work

                        with the seller, then can I get it.

            Do you think it is the right time to sell?

            When do you think you have should have sold?

 

Improvements add to your property in two ways

            Helps sell the houses

           

Debbie has What is the Buyers market!

 

Have you refinanced your home recently?

Do you have more than 1 mortgage?

Are you current with your mortgage payments?

                       

                        You must ask a lot of questions, asking the tough questions

 

Market update – some do it every 30 days

            Does bookashowing let us know how many showings by price range

 

Brenda is doing neighborhood tours that they put on their website. Good to show prospective sellers, help in SEO,

 

Supposedly you can change #1 Expert can click to the different language

 

Brenda has gone back to having people register

 

Russell shortsale site is very good. Look at it.

 

 

Buyer Power Panel

 

Lead generation

            Leads coming from everywhere – SEO, Social Media, Signs, Trulia, Calls

            When they come in you have to get them into a system

            Twitter and Facebook and My Space for getting neighborhoods.

                        Dale Chumbley does this on neighborhoods on Facebook

            Working a select group of people – direct contact with people that you know

                        and you want to work with. They only work with people that come

                        as a referral

            Buyers are online and looking at local information. They are searching Google.

 

Buyer Incubation         

            One person said it is 17 to 21 months before they raise their hand.

            Trying to give something good every day.

            If a web site is static, what will keep them coming back – blog

            Using a homefinder system that gives them properties daily

            Teaching people about the process instead of concentrating on houses

            5 1st time homebuyer mistakes

            Pros and cons of condos

            Property wish list

            LOOK AT YOUR WEBSITE UNLESS YOU LOOK AT IT AS A GARDEN

                        AND WATER IT EVERY DAY OR 2.

            Lead Dash Board – Platinum shows the lead incubator

            Call people within 8 minutes of the call

            Use top producer letter system via email – one year campaign every week

           

Buyer Loyalty

            You must earn loyalty – a student of your profession

            With 1st time buyers they do a Practice Offer

            Respond to people how they want to want to be treated

            They request loyalty, they don’t demand it, they use non exclusive buyer agency

           

 

Leads Power Panel

            MacCullum, Kelly, Maher, White

 

Leads – building relationships

            Handwritten note, phone call, attending events, one to one

            Spend 4 hours on the phone each day

            If you are not out there you are out of business

            Relationships trump all other items

           

Keeping in the relationship pool

            75% of Shane’s business comes from clients – tail gate party at high school games

                        They would do hot dogs

            Large client events of for Christmas in Nov, now client parties at the house.

            Summer event at the house with the moonwalk set up

            VIP service like free conference room, free fax, free notary, free color copies

            Giveaways – blankets, towels, cups, reusable grocery with logo

 

Websites

            Shane built a custom site with ProStep – 28% from the internet

           

Radio

            Got 100 sales for Kelly. Better than billboards or TV. It gets you in the door.

           

           

Managing Your Trust Network in the Digital Age – Jeff Turner

 

Being a trust agent – do you know why people do business with you.

            What can you add to make you unique?

            Messages that people will see, are the ones that  make you human.

            Don’t act like a marketing agent. Have a proper behavior online.

 

One simple key- reach for each other. Find people you can help, find people you enjoy.

 

Look at your social media posts and make a reason for them to be there. There needs to be a why not just a post.

 

Social Media

 

Spend time on it twice a day, in the morning and evening

 

Put quotes up on post

 

Friending and unfriending – friend local agents I like,

 

Not serious about real estate on Facebook.

 

Status update – talk about the dead raccoons in the listing, find creative and interesting real estate to talk about.

 

Fan Page –

            They are fun, what will they take identity in, on communities with events of what

                        is going on. Do the context with a tiny url to your real estate blog or

                        community area.

            Posterous.com is a free service. Go and check it out.

 

Write down a good url.

            Get a good url

            Print new cards

            Own the content

            Interview

            Video Live Music – Youtube it and then put it on your website or Facebook

 

Follr.com you can connect all your social networks.

 

Logos of your social media on your website.

 

When you advertise put you are on Facebook or LinkedIn

 

Facebook friend lists

            Out of town agents

            In town agents

            Friends

            Relatives

            Business Owners

            Sphere of Influence

 

 

Business Page

            TwinCitiesUSA maybe on Facebook

            Tag yourself

            Never tag your clients without their approval

 

Flowtown.com

           

Niknik.com

 

Hashtag – doing a fund raiser for what you believe in

 

 

Emerging media are that are on your radar-

            iJot.com doing video

            Keep it social system – Mike does Facebook, Twitter, Youtube, LinkedIn

           

Expired and FSBO Listings

 

Snagit the listing picture of the expired and sends out an invitation card with a wow. With

 

2nd mailing – unique marketing, single property website, and well shot photography

 

3rd piece – Use a snagit of the old lising

           

4th piece -  a bad pic snagit showing the difference

 

5th piece – a reference letter of testimonial

 

 

Delegate, delegate your system

 

Take the photos out of your expired listings

 

The first mailing has to give hope plus a wow.

 

Expired Listings Specialist Brochure

 

100% success on relisted properties

 

Ten reasons why their property may not have sold!

 

11 Page expired book. Content book.

 

FSBO Book – 17 page book to selling your home for sale.

 

Byownerlafayette.com for

First Aid Kit – from Star Power Homeseller’s First Aid Kit

 

Doing it consistant. Keep doing it.

 

Have buyer agent call the fsbo – cathy is a listing agent but can help you to where you are going to and can I help you.

 

Every call or mail is money in the bank.

 

Expired postcards for 4 a month

 

Personal contact by going by the house that expired

 

 

Short Sales, foreclosures and risk reduction

 

What steps do you take to successfully negotiate short sale?

            Do go fact finding.

            Know who the mortgage on the property

            Get seller expectations in line

            Make sure you are not wasting your time.

            People need to be edgiblity

 

What do buyers agents do to make their offer more appealing to the lender on the short sale?

            Find out how the agent works on short sale

            Keep the offer clean, no work orders

            Explain how to write the offer on a short sale. Cunninghamoffers.com

            What do you do with the listing agent that is clueless, has a series of 10 questions.

            Sherman Smith look at website

 

What would you say are the two biggest mistakes agents make in negotiation with banks on short sales?

            Misinformation to the client on lingering liabilities – tax, assn,

            Allegations by the listing agent that are misrepresented about conditions that the

                        Agent didn’t make aware of.

 

            Refer your client to legal counsel and make that in writing to minimize your

                        Liability

            The HUD statement is so important to do properly with the your closer, you need

                        a great escrow officer to deal with this

            Make sure you have your client take the letter from lender to CPA or attorney

            Always counter the offer so that you show the bank that you have

            Have the client pay the HOA

 

 

What is the number 1 issue that arises in trying to get short sales closed?

            The second trust deed is the biggest problem. Work it out before you ever list the                                  property.

            Share information with other short sale specialists. Exchange information.

            The 2nd is always the biggest problem. Watch out for them making a default

                        judgement. Let your sellers no the options.

            Telling your client what can happen, talk to an accountant & attorney.

            Have a form that says that they have given them that info that they initial.

           
In short dale risk reduction, What action do you feel realtors need to focus on doing correctly?

            Short sale consideration

            Giving reliable info – CDPE web site

           

 

Aaronline.com – Arizona assn on short sale information

Shermansmith.com

 

What kind of documentation would you recommend

            Short sale advisor with options that is a sign off

            Short sale addendum to the listing contract

            Any doc that says to get legal or tax advise

            Phone notes or emails

            Equator – Bank of America – right click the plus and copy

 

What can we do to avoid short sale Fraud?

            Everything you do must be on the HUD. It has to be upfront.

            If buyer wants to negotiate the sale on the control of the seller

            If buyer is an LLC

            If a buyer or agent asks for a low BPO

            Go with your gut. – You are asked to do something wrong, walk.

            Watch out for whapping – google what whapping is.

 

What is the one thing you they need to implement their business

            Upside down or need a loan modifications

            The easiest listing to get is the short sale listing

            Policy matching the seller financial situation need to be properly safeguarded

                        Shred it when it is done.

            Consider how you market yourself for short sales, don’t say you are an expert but                                 show your education and designations.

 

You must keep the buyer agent informed with what is going on in the transaction. Take back up offers and keep them in the loop also.