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Although, there are far – more, real estate agents, than successful ones, it might be helpful, to analyze, consider, and understand, what, the best ones, do, which makes them, stand – out, from the crowd! One of the key areas, which, often, differentiates, between, them, is, how they address concerns, and answer questions, effectively, and to, the best, of their abilities, and, to the satisfaction of one’s actual, and/ or, potential customers, and/ or, clients. After, over 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I believe, strongly, using the 5 – steps, which, effectively, address concerns, and answer questions, not to the agent’s satisfaction, but to his clients. Therefore, this article will attempt to, briefly, consider, review, address, and discuss, why this approach, makes sense, and is effective.

1. Carefully listen: Don’t make the mistake, of trying to prejudge, what someone’s concerns, are, and, carefully, thoroughly, listen, and, then, ensure, you truly understand, what’s being asked! Too often, individuals rush to respond, which sometimes, opens – up, the so – called, Pandora’s Box, and, thus, create more concerns, and questions, which the other person, didn’t previously possess! A simple way, to do this, is to say, something like, In other words, your concerned about, and state, what you think, he said, Do not proceed, to the next step, until you are certain of this first one!

2. Empathy: Since, for most of us, the value of our house, is our single – biggest, financial asset, and, many consider, home ownership, to be one of the essentials of the so – called, American Dream, the reality is, these people, are seeking, an agent, who cares, about them. Proceed, with the utmost degree of genuine empathy, by listening, far more than speaking, and openly, focusing on the client’s best interests (actual, and/ or perceived). One effective way to word – this, is, I can perfectly understand, how you feel, In fact, I felt that way, and so did, many others.

3. Fully answer to their satisfaction: Transition this discussion, by adding, Until they realized a few things. Then, fully answer, to their satisfaction, and not, merely, to yours. Wait for some indication, either a gesture, body language, nodding, or verbal statement, indicating, they understand.

4. Create/ recreate the need (inspire and motivate): Depending, on your relationship, and when the concern was addressed, you need to, either, create, and/ or, recreate the need, in an inspiring, and motivating way. Using expressions, such, as, In light of what we’ve discussed, and reviewed, often, moves the discussion, forward, effectively!

5. Close the deal: Although, the previous four steps, are important, and necessary, unless/ until, an agent, closes the deal, by creating a meaningful, meeting – of – the – minds, and a true agreement – level, the process, will not move forward, in the most meaningful way!

Success comes from practice, discipline, commitment, knowledge, action, and consistency! Will you commit to these tasks, and skills, etc?

It looks like an interesting year ahead in 2007 for the Incline Village real estate market. Affectionately called “The Riviera of Lake Tahoe”, this cozy community on the north east shore is a standout when it comes to short, medium and long term real estate investing. Why are prices continuing to move up here while the rest of America stumbles?

To get an insight into why Incline Village real estate continues to show solid upward gains while the most of the country is licking their wounds, we need to analyze the current inventory for sale, the asking and sale prices for the past three years and the trends that are occurring. Bear in mind that there is a finite supply of homes and condos with virtually no raw land left for development and an increasing demand by the 40 to 70 crowd looking for their slice of heaven in the nicest community at Lake Tahoe.

It is important to look at not just median sale prices but also median asking prices over a long period of time so we can see trends in the market’s direction. So, stick with me and follow the dates and numbers.

The median asking price for single family residences in Incline Village reached a peak the last week of April 2005 at $2,300,000. This number declined to a low of $1,495,000 the second week of May 2006 and has crept steadily upward to its present level of $1,895,000 in late January 2007. The median asking price number is valuable when looked at in conjunction with the median sale prices over the same length of time.

Here are the median sale prices for houses for each of the last three years:

2004 -$865,750 2005 – $1,110,000 2006 – $1,150,000

While the median sale price has ratcheted steadily upwards during the past three years the median asking price rose sharply during the seller’s market of 2005, retreated a bit in the buyer’s market of 2006 and is now starting to creep upwards again. What this tells me is that the mentality of the sellers in Incline Village is one of optimism. Most of the property owners in Incline Village are relatively affluent and can afford to hold onto and enjoy their property through any perceived softness in the market. While the fact that some buyers are sitting on the sidelines is evidenced by the decline in unit sales versus 2005, prices are remaining firm as evidenced by both the median asking and sold prices over the past three years.

Most people who buy property in Incline Village and other high-end resort communities do so because they want to, not because they have to. Most sellers sell because they want to, not because they have to. It creates a market where properties generally sell slower, but at a higher percentage of the final asking price than most other places in the country.

Another key factor is that virtually all of the homeowners in high-end resort communities make their money somewhere else. The prices of the properties bear no relation to local incomes unlike the typical residential real estate market. The prices for properties for sale in Incline Village reflect what an affluent person is willing to pay for any particular property.

We must also keep in mind that the level of sales in units in 2005 was an anomaly since it was by far the biggest year ever in the history of real estate sales for Incline Village and Crystal Bay. When comparing annual sales totals it is better to look at the time period from 2000 through 2005 and compare the average annual totals of unit sales versus 2006 to get a more accurate reading. When one looks at the long-term statistical data we can see that even though sales in units in 2006 are approximately 30% below the average annual totals for the previous five years, the dollar value of the properties being sold is still extraordinarily high and this value is moving upward steadily over the long haul.

When the median asking price for single-family homes was $2,300,000 back in April 2005 we had only 107 houses for sale in the entire community. At the present time there are 157 single-family homes for sale in Incline Village, an increase in the inventory of almost 50% versus April 2005. The fact that we have so much more inventory on the market then at the same time two years ago and yet actual closed sale prices continue on a slow upward path tells me that no price decline of any significance across the board will be taking place anytime soon. Individual properties, depending on the motivation of the seller may provide special values for a particular buyer. But in my opinion, there’s not going to be a general price decline among single-family homes in our market because there is so much intrinsic value in owning land in Incline Village.

When we take a look at the condo market the numbers are even more dramatic in favor of local market strength over the long term. The median sale price of condos for the past three years is as follows:

2004 – $405,000 2005 – $485,000 2006 – $580,000.

The median asking price for condos topped out at a staggeringly high $725,000 during the fourth week of April 2005 when there were only 55 condos for sale in all of Incline Village and Crystal Bay. The median asking price in this category bottomed out so far at $555,000 the first week of January 2007 and has now crept up slightly to $559,000. This is to be expected after the overall median price of condo sales rose an unsustainable 43% in just two years and the inventory jumped all the way from 55 units up to our present total of 126 condos currently on the market.

It is actually a testament to the strength of our local market that the median price of condos did not decline when the inventory increased so dramatically during the past two years. What this shows is the intrinsic value of owning property in Incline Village and all of the rights and benefits that you receive such as access to the private beaches, discounts at the golf course and rec center, specials at the ski area and most importantly of all the phenomenal quality of life that we get to enjoy here.

In summary, I do not anticipate that the number of unit sales will increase dramatically in 2007 versus 2006 although that would be a pleasant surprise. My crystal ball tells me that the median price for houses in 2007 should remain close to or slightly above the median price for 2006.

I feel that the median price for condos in Incline Village and Crystal Bay, due to the excess of inventory in relation to 2005 and the median asking price trend will result in strength for the quality properties that are within walking distance to the Lake and weakness for the lesser properties that are in lower demand locations. There will always be exceptions to this as individual complexes may have a shortage or excess of supply from time to time during the year. It is very hard to generalize about the condo market in Incline Village since each complex has its own unique attributes. Prospective buyers looking for property in Incline Village, Lake Tahoe and other mountain resort communities tend to prefer high quality interiors and locations that make him feel like they are truly away from civilization and up in the mountains.

Copyright 2007 Don Kanare – All rights reserved.

Why real estate agents need to stay motivated and on top of their market

Real estate is sales. No more and no less. You can go for months without selling anything and, naturally, be discouraged that you’ll ever succeed. Feast and famine is the order of the industry. So it is crucial that you break through this feeling to land your million dollar deal for the year. To land those deals you have to BELIEVE that you can do it – and that is why motivation is so important!

Motivation is also important for the following reasons:

a. Personality makes the sale!

Motivating yourself is essential because in real estate it is your personality, almost more than anything else, that counts. Reputation travels fast. Your success will hinge on word of mouth. Make a good impression and many more clients will want you to service them. That is why it is crucial that you feel on top of your field and that you remain confident in your abilities and skills, even when things don’t go as planned. Real estate can be hugely stressful – both for you and for your client. If a client leaves unhappy, whether it was due to your efforts or not, word-of-mouth spreads quickly and can affect your referral network and, ultimately, your bottom-line. Remain motivated!

b. Motivation gives you momentum!

Motivation pumps you up. Real estate is a feast and famine phenomenon. The famine part may be harder to sustain your energy for the feast. But the feast will come if you’re primed for it. That is why it is so important to retain your motivation so that you keep on enhancing your skills and so that you, somehow or other, manage to maintain your relish for your work. Motivated agents are more inclined to go the extra mile for their leads and clients, and the extra mile is always worth it.

c. You are self-employed

At the end of the day, you are running your own business – and that is precisely why motivation matters! As agent, you may work under a broker and the broker may provide you with marketing tools, education and mentoring, but, ultimately, you are responsible for your own results. It will be largely up to you to find the leads, manage them and close the deals. In short, you as agent are a business-person, an entrepreneur, self-employed and, like any self-employed individual, you will have to motivate yourself to keep your business going. In other words, the drive, determination, and self-discipline, must ultimately come from the agents themselves. And that is why it is so important for you to be self-motivated!

d. Motivation is one of the two most important skills!

Real estate hinges on knowledge. You’ll need to know your geographic locality inside out as well as going property prices and industry regulations. But, otherwise, the two most important factors are your personality and motivation. As regards personality, you’ll need to be gregarious, likeable, and you’ll need to possess excellent people skills. You’ll also need to have empathy in order to understand people’s situations and needs, so as to serve them best. Otherwise a positive attitude is crucial. Without that, you are at risk of defaulting on the first particularly since you’ll, likely, find the labor uphill work for you (especially in the beginning) and tend to be disheartened or frustrated. In that way, motivation underlies anything to do with real estate and is basically the corner-stone of your success.

Says Zurple, the real estate lead generation agency: Success in real estate relies on two main things – a great business strategy and a strong drive to succeed. If you’re missing one or the other, you will struggle. And if you have both – your’e on your way to success.

The bottom line is this…

Success in business, especially the real estate industry isn’t the 100 meter dash – it is a marathon. Maintaining a steady level of motion can be tricky, but it’s your main – if not your only – way to success.

Here are three tips that can help you:

1. Recognize your progress: Take it slow and pat yourself on the back for those minor victories. Congratulate yourself for staying on task and for completing all those incremental steps that were so necessary for closing the deal.
2. Find yourself a successful mentor: In the cutthroat industry of real estate finding someone excellent to help you can be laborious. Avoid brokers who are ready to hire you for fees. Take your time in finding someone who is a good match for you, who is honest and who has your best interests in mind so that he. or she, will give you the time and guidance that you need.
3. Organize your time well: Set aside time to speak to clients, review industry reports and statistics, attend meetings, and see to all the other variables that go into the real estate schedule. Improve your skills as you go. Don’t avoid tasks that you don’t like. Be self-disciplined. Look to the future – don’t dwell on your failures; learn from them.

And one more thing…

Get and stay motivated!

In the past – several months, in most parts of this country, we have witnessed, a significant increase, in both, listing, and selling prices, of houses, on the real estate market! Few, remember, as large, an increase, in recent memory! Even, after, over 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I am amazed, at the level, of recent prices, and sales! How long, will this continue, and, what may occur, in the not – so – distant future? Many factors, are involved, and no one, is certain, how long, this record, unprecedented, Sellers Market, will continue, nor, what might follow! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 key factors, and why they matter, as well as, how important, it is, for home owners, and potential buyers, to understand these.

1. Supply and Demand: Over – time, perhaps, the most significant factor, affecting real estate, residential pricing, is Supply and Demand! How many houses, are available, as opposed to, the number of true, qualified, potential buyers? When supply exceeds demand, we refer to it, as a Buyers Market, and when the opposite occurs, sellers have the upper – hand! Although, we currently, are witnessing, many more buyers, than sellers (houses available), this won’t go – on, forever! Historically, real estate is cyclical, and there is no reason, to expect, sooner, or later, this will again, occur! When might rising prices, and other factors, outweigh, the pent – up, desire to buy, and, what might occur, when/ if, interest rates, rise?

2. Mortgage interest rates: We have been experiencing, record – low, mortgage interest rates, for a prolonged, period! This creates the ability, for many, to buy a more expensive home, because, their monthly payments, will be lower, than usual! Eventually, interest rates, and, thus, the true costs, of a mortgage, will rise, and, how might that impact, the overall market, into the future?

3. Overall economy: Overall economic conditions, impact consumer confidence, and, thus, creates greater activity! Is the economy, really, strong, or is this an after – effect, of, the prolonged period, of pandemic impacts, and emotions?

4. Job security/ confidence: When, the level of job security, and our confidence, in the consistency, and future performance, of all, related factors, we witness, more potential buyers! In addition, many homeowners, after the extended period, we have experienced, seek, both a change, and seriously, consider, trying to take advantage of today’s prices!

5. Specific local area, and market: Certain areas, regions, and specific locations, are, more, in – demand, than others, largely, because of the ramifications, and impacts, related to the pandemic, etc! The immediate impact, occurred, in larger cities, which experienced, lower prices, because of less demand. How long will this occur?

It is generally, challenging, and difficult, to accurately, predict, and time, the real estate market. How, time, rising interest rates, and changing perspectives, as well as, the inability, of some, to come – up, with the necessary down – payment, will certainly create a changing market!

Timeshare and vacation ownership. what are they about? What is it like to have a career in this industry? What does it take to make a six-figure income and to stay employed in the industry?

I am not writing these articles with the intention of hiring anyone since I’m not a sales recruiter. I do have an MBA in real estate development and management and my pet peeve in business is employee turnover. I just don’t like it. Turnover in the vacation ownership/timeshare industry is horrible.

My MBA side of my brain tells me that turnover is expensive and not exciting or positive for anyone involved. You’ve also probably heard that dissatisfied customers or employees can do more damage to the business in the long run than the happy customers and employees can do to improve your bottom line.

If something frustrates you or gets you mad, the best thing you can do, instead of anger management or psychotherapy, is to take action. So here I am.

Most salespeople hired to sell vacation ownership or timeshare need a real estate or timeshare sales license. If you have the time and the money, the more comprehensive full real estate license will allow you more career options and I highly recommend more education in any field if you want to be successful and stay in the industry.

What happens when a person gets a job selling timeshare or vacation ownership. At this time in the industry, potential guests or prospects are marketed and invited to a sales presentation. The majority of these guest invitations include an incentive or gift for the participant’s time. People love gifts, and incentives, and a good deal. We’re greedy, bargain hunters. The industry knows this and depends on us to fill the sales centers for presentations.

As a salesperson, the presentations you will make will often range from 90 minutes to 3 hours, depending on the company you work for. With timeshare or vacation ownership sales the unique factor is that the guest or participant you will try to sell has come to see your resort and product with intentions of getting a gift, getting out fast, and most have no intention of buying anything.

Selling people who have not come to buy anything and often who have an agreement not to buy no matter what you have, no matter how good it sounds, and no matter how affordable. This is such a different form of selling than working in a retail store where people have come in specifically to buy something and with intentions of taking it home with them.

The employee turnover in the timeshare and vacation ownership sales industry is huge. It’s horrible. Employers spend an amazing amount of money to find salespeople and salespeople get in the business and are shocked by the rejection and how hard it can be to sell people their vacations and they run away. A successful timeshare salesperson must be perceived by the guest as authentic and sincere. Companies should have more comprehensive sales training to help build the employees skills so they will be able to stay on the job.

I attended a financial seminar and they discussed the “Asset Value of Employees .” My question is, ” If employees are your greatest asset, how much money and value are you adding to the bottom line of your competitors when they leave you and go to work for your competitors?” If the companies finally calculate these numbers they will have to pay more attention to keeping their employees and not letting them fail and leave.