REALTOR Review Fall Edition

REALTORreview 速

FALL 2010

An e-publication of the Raleigh Regional Association of REALTORS速

REALTORS give back, pg. 9

速

Tips for autumn home sales

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RALEIGH REGIONAL ASSOCIATION OF REALTORS® 111 Realtors Way, Cary, NC 27513 (919) 654-5400, Fax: (919) 654-5401 www.rrar.com BOARD OFFICERS Theresa Clark, President Linda Trevor, President-Elect Stacey Anfindsen, Secretary/Treasurer John Wood, Past-President Joey Robbins, Vice-President RRAR DIRECTORS Mark Connor Tom Smith Parker Creech Phyllis Brookshire Steina DeAndrade Eddie Brown Harriette Doggett Asa Fleming Laurie Donofrio Julie Garrison Grayson Hodge Tom Gongaware Carol McCormick Lewis Grubbs Mollie Owen Becky Harper John Pace Morty Jayson Randy Scherr Melanie Osborne Jose Serrano Teresa Pitt

REALTORreview ®

FALL 2010, VOL. 2, NO. 4

features TACQUIRE IS SINGLE, GO-TO INFORMATION RESOURCE Powerful informationsharing, marketing and research system is a first for area commercial brokers.

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PETS SHOULD NOT BE SEEN OR HEARD Here are tips on minimizing the “pet factor.”

REALTOR® FOUNDATION OF THE TRIANGLE PRESIDENT Joey Robbins

FORMS GUY DISCUSSES 16 CHANGES Changes to the

NCAR REGIONAL VICE PRESIDENTS Elizabeth Allardice John Wood NAR DIRECTORS John Wood Eddie Brown TRIANGLE REALTORS® LEADERSHIP ACADEMY DEAN Morty Jayson Members are cautioned that the inclusion of a name, specific commercial product or service in an article, or the inclusion of a paid advertisement in this publication does not imply endorsement by the Raleigh Regional Association of REALTORS®. All advertisers in this publication wholly support the Fair Housing Act and fully promote equal opportunity housing.

Copyright 2010 by the Raleigh Regional Association of REALTORS®.

All rights reserved.

9

Exclusive Right to Sell Listing Agreement take effect Jan. 1.

END-OF-YEAR 20 SKIP PRODUCTION LOWS

REALTORS® TAKE COMMUNITY SERVICE TO HEART Margaret Cohen reasons it’s in a REALTORS’® nature.

Start setting your 2011 goals now, with these business suggestions.

departments

Technology tools don’t make sales.

Knowledge and experience do.

2 From the President 15 RRAR Events 22 Bits & Pieces 24 NewsMakers 26 New Members 27 Educational

ABOUT 28 REMINISCING THE RAT RACE

REALTOR® REVIEW STAFF: Patricia Gregory Rand, managing editor, patriciar@rrar.com • Heidi Ketler, APR, editor, hketler@verizon.net • Caroline Shipman, assistant editor, carolines@rrar.com • Margo Alfieri, intern, margoa@rrar.com • Shelly Beck, graphic designer, sbdesign@cox.net For editorial contributions and ad inquiries, please contact Caroline Shipman at carolines@rrar.com or (919) 654-5400.

Opportunities

30 Local Market Updates Fall 2010

REALTOR® Review Preliminary Identity Colors

1

from the president

Got Blogging?

Got a Social Media Media Plan?

WE GOT IT!

Dear REALTOR Member,

®

The year 2011 is just around the corner, and it is time to Linda Trevor renew your membership with 2011 RRAR the Raleigh Regional AssociaPresident tion of REALTORS®. Renewing your commitment to your local Association also renews your membership at the state and national levels as well.

Member benefits include: • Free seminars and member programs • Discounted continuing education

The Only Answer That You Will Need To How Social Media Marketing Can Create Organic Traffic And Generate Leads To Your Website.

Kevan Bytnar 919/859-1461 kbtreb@aol.com BrokerSherpa.com BrokerSherpa & The Social Media Marketing Answer

• State of the art website with an Internetbased MLS • Professional Standards Administration • Centralized Showing Service • Political advocacy and RPAC administration • Discounts on facility rentals at One Eleven Place • Membership discounts at participating stores • Meetings, socials and networking opportunities • Triangle REALTORS® Leadership Academy With over one million REALTOR® members worldwide, the National Association of REALTORS® is the largest trade organization in the United States. An organization is only as strong as the commitment of its members, so by renewing your 2011 membership, you are insuring the continued success of your Association and your career.

Best of luck in 2011, and thank you in advance for your renewed commitment to the Raleigh Regional Association of REALTORS®

Sincerely, Linda Trevor 2011 President

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REALTOR® Review

Fall 2010

Tacquire to launch streamlined commercial brokerage processes

By Kim Brennan, Executive Officer, Triangle Commercial Association of REALTORS®

On Sept. 1, the Triangle Commercial Association of REALTORS® (TCAR) launched a new Commercial Information Exchange, known as Tacquire (TEE’-ekwîr’). The new industry-owned system is designed to streamline the process by which commercial brokers manage listings, exchange market information and research property data.

The process of building Tacquire began more than two years ago, when extensive consultation with TCAR members and leaders across the Triangle brokerage community identified the need for an affordable, accurate and easy-to-use system for sharing information, marketing properties and compiling data.

Once the need was clearly established, TCAR formed a committee comprised of commercial brokers and professionals from several local firms, both large and small, to investigate the viability of a new Commercial Information Exchange (CIE) and to interview potential technology providers. After months of research, the committee voted unanimously to select a vendor and move forward.

“It quickly became clear that the best way to meet our members’ needs was to create our own commercial information exchange where costs and data could be controlled locally and accuracy could be gained via in-house research,” says Shane Bull, TCAR president-elect.

Brian Farmer, president of advisory services for Coldwell Banker Commercial Trademark Properties, one of the Triangle’s largest commercial brokerage companies, was among the first to commit to the new Tacquire system. “I was approached by TCAR early in the process and was initially skeptical

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See TACQUIRE on page 5 Fall 2010

REALTOR® Review

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REALTOR速 Review

Fall 2010

TACQUIRE continued from page 3

of the idea,” says Farmer. “But once I saw the system and grasped its potential, I became one of its biggest cheerleaders.

Tacquire’s ease of use and ability to house property and tenant data from multiple sources convinced me it has the potential to change the way the commercial real estate industry does business in the Triangle.”

With Tacquire, brokers will own their data, have in-house researcher support and be able to access historical information and analytics.

In addition, listings can be integrated into member websites and will be distributed to other commercial information exchanges, such as Commercial Source and CCIMREDEX, providing maximum local and national listing exposure while minimizing administrative needs. Another benefit is that it is mobile friendly, allowing brokers to access the information on the go.

With the new mobile-friendly Taquire, officer brokers have their data, have in-house researcher support and are able to access historical information and analytics. Listings can be integrated into member websites and will be distributed to other commercial information exchanges. real estate brokers and related professionals in the Triangle. I have been hired as chief executive officer and Ron Dixon will serve as our first researcher.

and we are well on our way to making that happen.

I would like to thank the commercial brokerage community for its incredible support. Thousands of volunteer hours have been dedicated to getting Tacquire up and running, and our goal is to have all Triangle listings in the system within the next 30 days. Our mission is to become the best source of information for our members,

Kim Brennan has been hired to serve as Taqcuire’s chief executive officer. Brennan has 30 years of experience in business management and is entering her fourth year as the executive officer for TCAR, a capacity in which she will continue to serve. Dixon has more than 20 years of experience in project management and has spent the last three years doing research and appraisal work in the real estate industry.

To learn more about Tacquire visit www.tacquire.com or contact Kim Brennan at (919) 228-2588.

Unlike the residential real estate industry, commercial brokers do not have a single, go-to source for sharing and gathering information.

Data is spread across a variety of systems, most of them owned by private companies. There is a growing trend across the nation, however, of bringing commercial data back into member-owned and directed systems. Real estate organizations in Houston, Seattle, Miami and Los Angeles have all developed their own successful CIE. Tacquire filed its articles of incorporation July 15. The newly elected board of directors includes many of the top-performing commercial Fall 2010

REALTOR® Review

5

Five tips for an autumn home sale

By Mary Umberger

Seasonality counts in marketing a home, and it’s especially true now, in the fall.

Here are five things to keep in mind if you’re trying to find a buyer when autumn leaves begin to fall.

1. Those annuals and perennials might have looked glorious in July, but now they’re reduced to ragged brown stems and a few clingy leaves – and they all have to go. Melody Herr, president of Selling Impressions in Farmington Hills, Mich., and Michigan state president of the Real Estate Staging Association, a trade group, recommends not only a thorough clean-out of last summer’s blooms, but replacing them with a few chrysanthemums to add brightness to the yard.

And need we mention raking leaves? It might take repeated efforts to keep up with the leaves, but the yard will show better without them, she says.

2. Holiday decorations are always an issue in home staging, but usually the argument revolves around 6

REALTOR® Review

not overdoing the Christmas spirit. Fall has its own issues, Herr says.

“Halloween is great for kids, but I would limit it,” she says. “If it’s done in moderation, it’s all right. It can be overwhelming” to buyers, who might find too many goblins around the house distracting or even disturbing.

Thanksgiving is less an issue, Herr says, because it’s a “neutral” holiday, with limited decoration.

3. The days are getting shorter and your rooms are getting darker – and darker rooms don’t show well, she says.

The simplest fix is to turn on more lights, and Herr suggests swapping out the lightbulbs to ones that project a warmer rather than a cooler light.

A more labor-intensive solution: “If a house is dark inside, we might recommend lightening up the paint colors for fall,” she says.

Also, consider how clean the windows look if the house has been listed for some time and you haven’t taken a close look at them lately, she says.

Fall 2010

“Make sure you do a good fall cleaning,” Herr says. “People think of cleaning in the spring, not necessarily in the fall.”

4. Fire up the hearth. Although buyers traditionally love fireplaces, they might be more attuned to their charms at this time of year, when a chill is in the air.

Of course, lighting the fire would have to be timed carefully to coincide with a scheduled showing, she says, and there are obvious safety considerations if no one will be in the home until the agent and buyers arrive.

Keep home photos as current as possible. If your house isn’t for sale but you’re thinking about putting it on the market next year, take pictures throughout the seasons that will be available for buyers to peruse.

But – this goes back to pointer No. 3 – fireplace ashes are a nono for showings. If you’re using your fireplace for any reason this season, you’ll have to stay on top of the ashes.

5. Get a new set of listing photos – showing off those mums and that leaf-free yard – if your for-sale sign has been there for months.

“You really want to keep those pictures as current as possible,” Herr says. “And if your house isn’t for sale but you’re thinking about putting it on the market next year, take pictures throughout the seasons” that will be available for buyers to peruse.

“You may put it on the market in winter, and buyers can’t always visualize what it would look like in the summer months,” she says.

Mary Umberger is a freelance writer in Chicago.

Fall 2010

REALTOR® Review

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Project

Tree The Community Service Committee is proud to sponsor Project Angel Tree 2010. More than 12,000 gifts have been distributed to deserving children in the past and in order to reach our goal of 1,000 angels, your support for this year is needed more than ever.

Steps to Adopt • Contact Priscilla Erwin to submit the number of angels your office would like to adopt.

Phone: 919-654-5400 ext. 216 Email: priscillae@rrar.com (Subject Line: Angel Tree) • The deadline to adopt angels is November 1, 2010.

• You will receive your requested number of angels the week of November 8th. Each angel will have written on it a code number, age, sex and a desired gift from their wish list.

IMPORTANT NOTE: You are not required to purchase the gift listed on the angel. If the requested item is too expensive or unobtainable, please purchase an alternate gift or a gift card.

• Each angel will have a self-adhesive backing and MUST BE attached to the wrapped gift.

• All gifts must be new purchases.

• Deliver your wrapped gifts with angels attached to RRAR

by November 30, 2010.

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REALTOR® Review

Fall 2010

Out of the Goodness of their Hearts REALTORS help make community a better place for those in need ®

Operation School Bell boosts self esteem with new clothes for students in need REALTORS® Margaret Cohen, left, of RE/MAX Preferred Associates in Raleigh and Helen Jones of Coldwell Banker prepare to package clothing for Operation School Bell.

By Heidi Ketler

Imagine clothes shopping for more than 800 school children.

That’s what REALTOR® Margaret Cohen has been doing with fellow members of the Assistance League® Triangle Area for eight years now.

These volunteers are the essence of the organization’s annual Operation School Bell, which provides clothing for students at 10 different Triangle elementary schools (in Raleigh, Cary, Wendel, Durham and Hillsboro) who are identified as being in need.

By late October, each designated child receives a bag of clothing and a new pair of tennis shoes, all of which are personalized to the child’s size and preferences, as expressed in a form filled out Fall 2010

by a parent or guardian. Inside the clothing bag is a new pair of jeans, a T-shirt, underwear, socks, a hoodie and sweat pants. The girls also get a scarf hand-knit by Assistance League® members.

“It does a lot for their self esteem to have a nice pair of shoes and new clothes,” says Cohen. “When we deliver the clothing, they get their bags, and they are so excited and happy. It’s very rewarding.”

Cohen notes that some siblings have to share clothes and that often results in missed school days.

The main source of funding for the Assistance League® Triangle Area is the Antiques to Zippers Resale Shop, which is operated solely by volunteers. According to Cohen, donations of slightly used household goods, furniture

and books; shoppers; and more volunteers are needed. Volunteers do not need to be members of the Assistance League®.

The Raleigh Regional Association of REALTORS® Community Service Committee joined the Assistance League’s® new “Community Volunteers” program that allows nonmembers to help with projects.

Financial contributions also are appreciated. In fact, the first project of the Raleigh Regional Association of REALTORS® Community Service Committee was to designate $1,000 to the Assistance League® to help fund Operation School Bell. Each bag of clothing is valued at $54, so the donation funded approximately 20 clothing bags, according to Cohen.

A recent $700 contribution

by RRAR Treasurer/Secretary Stacey Anfindsen went to Operation School Bell in memory of his father-in-law, William Price, who died in August. Price, a commercial real estate agent in Atlanta, Ga., was active within the Atlanta Board of REALTORS® and was a former REALTOR® of the Year. Anfindsen said he wanted the money to go to immediate use within the Triangle community.

See GOODNESS on page 10 REALTOR® Review

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GOODNESS continued from page 9

Cohen of RE/MAX Preferred Associates said she joined the Assistance League® 13 years ago when she was looking for an organization that helped people locally. “This one touched me specifically because of the underprivileged children and women who benefit. Another thing was that it is all-volunteer driven and operated,” Cohen says. “There are no paid staff. Everyone is doing it out of goodness of their hearts. They also are incredibly frugal and work to make every dollar go as far as possible. I just like that whole philosophy.”

Cohen also is active with a number of other charities, including Leukemia & Lymphoma Society of Eastern North Carolina (won the chapter’s Woman of the Year in 2005 through her fund raising and has served on the board of trustees since 2006); and Children’s Miracle Network (she contributes in honor of every client with which she has a transaction). In 2005, RRAR awarded her Community Service Volunteer Agent.

“So many REALTORS® are so involved in community service, I think it’s part of our nature,” says Cohen.

The Assistance League’s® Antiques and Zippers is located in North Raleigh at 1689 North Market Drive, just east of the intersection of Falls of the Neuse and Old Wake Forest roads. Hours of operations are from Wednesday through Saturday from 10 a.m. to 4 p.m.

For more information about the Assistance League® Triangle Area, send an e-mail to Margaret Cohen at margaretcohen@remax.net or visit the website www.altriangle.org.

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REALTOR® Review

Housing Opportunity Committee member Suzanne Burton of Vicki Berry Realty Century 21 stands ready to boost public awareness during the first annual Affordable Housing Fair.

“Housing Hero” empowers homeowners in crisis When the mortgage crisis hit, REALTOR® Suzanne Burton’s phones started ringing with homeowners on the other end anxious for advice on how to save or sell their homes.

“People didn’t have a clear understanding and they were asking for help,” explains Burton of Vicki Berry Realty Century 21.

So she developed a real estate resource guide.

She decided “this was an opportunity to become involved and provide tools to the public to make them more aware and arm them with the tools necessary to feel comfortable.” A Raleigh Regional Association of REALTORS® board member from 2006-2009 and a Housing Opportunity Committee member since 2008, she approached her fellow board members with a proposal for a telethon and received “overwhelming” approval. “Presenting a telethon would give us the opportunity to give back to the community and let them know we are not just concerned about a commission check. We’re con-

cerned about our community and the residents.”

Burton estimates there were a total of 120 calls during the first Housing Opportunity Phone Bank telethon, conducted by the RRAR Housing Opportunity Committee, March 3 from 6-8 p.m. on NBC 17 News. The second one May 26 from 6-8 p.m. drew twice as many volunteers and many more callers.

Phonathon volunteers included area REALTORS®, lenders, attorneys and home inspectors.

Together, with copies of Burton’s resource guide at the ready, they were able to offer a wealth of information on such urgent matters as the home buyer tax credit, loan modification, foreclosures, closings and short sales.

“The number of people calling was unreal,” says Burton, “and being able to help them while they were on the phone and hear their sigh of relief was phenomenal. You couldn’t ask for anything better.”

Along similar lines, resources are available to the public during Fall 2010

the RRAR Housing Opportunity Committee Affordable Housing Fair, which was offered for the first time May 22. Members of the Housing Opportunity Committee are in the process of organizing the second annual fair, scheduled for April 30 from 11 a.m. to 4 p.m. at Crabtree Valley Mall. There, once again, the public will have access to builders, lenders, insurance agents, stagers and community agency representatives – “anything related to housing,” says Burton. “People can stop and have a one-on-one conversation with any of the vendors there.”

The Housing Opportunity Committee also conducts “Be a Housing Hero” workshops that give REALTORS® the understanding and resources to help others.

Speakers have included Luis Freeman from the Federal Home Loan Bank of Atlanta; Shante Nesbitt, a mortgage consultant with Neighborhood Assistance Corporation of America; Barbara Hess and Kat Driscol of the Fall 2010

North Carolina Housing Finance Agency; and Mel Ellis, director of single-family housing programs for the United States Department of Agriculture Rural Development in North Carolina.

Burton has long sought to empower people through all aspects of her life. Her involvement in the Housing Opportunity Committee keeps her busy with Project Angel Tree, Habitat for Humanity and home maintenance for seniors.

She is involved in The Miracle League of the Triangle and the North Carolina Food Bank. She also is active with Wake Chapel Church. Professionally, she conducts corporate and agency home buying seminars, and she created a “Financial Boot Camp,” which is available to her clients.

Fortunately for the people of the Raleigh region, “Housing Heroes,” like Burton, are growing with the desire to help those in need.

“So many REALTORS are so involved in community service, I think it’s part of our nature.” ®

– Margaret Cohen

GOOD SHEPHERDS RRAR Top Producers Council members Steina De Andrade of Howard Perry and Walston and Bill Edwards of RE/MAX Preferred are all smiles after serving 320 people at Shepherd’s Table.

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Fall 2010

Five ways sellers can minimize ‘pet factor’

By Mary Umberger

Psssst! It’s about your dog – he could be the reason your house isn’t getting sold.

Or maybe it’s your cat. Or Larry the iguana.

Sure, we love our pets. But sometimes that affection makes us oblivious to some of their less-endearing traits, such as the way they routinely kick cat litter onto the floor or how they gnaw on the baseboards. Then there are the odor issues. Perhaps their presence just intimidates potential home buyers.

Seriously, folks, some people just aren’t as enamored of the little beasties as you are.

Home sellers need to please as many potential buyers as they can. This means that, as inconvenient as it might be, you’re going to have to take some steps to minimize the “pet factor” when marketing your home.

“Real estate agents should present their sellers with a list of ways to get their pet-friendly home ready to sell,” says Rhona Sutter of Naples, Fla. She runs www.petrealtynetwork.com, a Fall 2010

referral service for people looking for “pet-friendly” agents and properties. She suggests the agents even wrap the list around a bottle of Febreze as a gentle reminder about pet odors.

Here are five things to know about turning for-sale properties into pet-neutral territory.

1. Think long and hard about whether the animals could find a new home while the house is on the market. Sutter

realizes that these days, homes might be for sale for months or even

years, so boarding the animals long term wouldn’t be practical.

But if there’s a possibility of a flurry of showings in the early days of the listing, boarding or keeping the pet temporarily at the home of a friend or relative might be something to think about, she says.

Failing that, consider shortterm solutions.

“If you’re serious about selling the house, you (the homeowner) will either take the pet with you See PET FACTOR on page 14 REALTOR® Review

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PET FACTOR continued from page 13

(during showings) or put them in doggy or kitty day care for the day,” Sutter says. “Get a neighbor to take care of them.”

But don’t stick them in another room with a sign that says, “Dog here. Don’t open door,” she says.

“There’s nothing more distracting than when people put their pets in the garage or the laundry room and someone is going through the house and they hear this great barking or meowing in the garage.

A lot of buyers want to see what’s in the garage anyway.”

2. The real estate agent should put notes in the multiple listing service and on handout marketing materials about the presence of pets on the property. This is to prepare the home buyer for the possibility and to reduce the chance that an animal will escape outside during showings, says Sutter.

3. The traditional advice about making the house clean, clean, clean goes double when it comes to your animals.

Before the house is listed, you’ll have to face what’s often collat-

eral damage in pet ownership: scratched floors (buff them or repair as needed, Sutter says) or chewed moldings.

Take a look at the walls in long hallways, she says. There’s a good chance that if you have a dog, there’s a long, gray line along the walls from where “man’s best friend” has rubbed against it.

“If the baseboards are chewed, people are going to wonder what else you’re trying to hide,” she says.

Removing odors might entail shampooing rugs and repainting entire rooms, she says.

If you’re shy about repairs to certain areas because the pet is likely to undo them in short order (Sutter mentioned the interesting way that some cats love to claw window screens), the homeowner might punt on this issue by promising in writing to make those kinds of repairs by the sale’s closing, she says.

Vacuuming is nobody’s favorite sport, but if the furry pets are going to remain in the house during the listing period, face the prospect that you might have to do it every day in order to remove fur and pet dander that trigger some people’s allergies – a sure

buyer turnoff, Sutter says.

“You need to take a Hoover and really go at it,” she says. “These are nitpicking things that show the appearance of your house.”

4. Find a new home for the feeding bowls, litter box, toys, etc., if possible. Putting them in the basement might not be convenient, but then they won’t be distracting, and you can avoid trip hazards, Sutter says.

Plus, she says, animals can be messy eaters and users of their litter boxes, and you just don’t want the, um, “particulates” strewn about an otherwise clean floor, she says.

5. Your yard is for sale, too, and you should expect that home buyers will want to stroll around. This, of course, means that there should be no land mines for the unwary.

“You don’t want to put people off, and I guarantee you, stepping into dog poop is a sure way to do it,” Sutter says.

Mary Umberger is a freelance writer in Chicago.

If there’s a possibility of a flurry of showings in the early days of the listing, boarding or keeping the pet temporarily at the home of a friend or relative might be something to think about.

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REALTOR® Review

Fall 2010

RRAR events

25 Thanksgiving 25-26 RRAR/TMLS Board Offices closed

30 Angel Tree Gifts Due to RRAR

November

December

3 Women’s Council of REALTORS®

1 CE - Mandatory Update, 8:30 a.m. to 12:30

4 Financing Dreams, CE Elective, 9 a.m. to 1 p.m. Instructor: Kat Driscol

8 Offer to Purchase Forms Changes Seminar, brokers in charge only, 9 a.m. to 11 a.m.

p.m. Instructor: Debbie Long

Broker-in-Charge Annual Review, CE Elective, 1:30 p.m. to 5:30 p.m. Instructor: Debbie Long

2 New Member Orientation, 8:30 a.m. to 3 p.m.

Housing Opportunity Committee

Association Christmas Party

Offer to Purchase and Contract Changes Seminar, open to all membership, 1 p.m. to 3 p.m.

6 Communications and Public Relations Committee

9 TCC Luncheon Learn

8 RRAR Board of Directors

10 Young Professionals Network

Offer to Purchase and Contract Changes Seminar, 9 a.m. to 11 a.m.

RRAR Board of Directors Meeting

14 CE - Mandatory Update,

11 Veteran’s Day CE Mandatory Update, 8:30 a.m. to 12:30 p.m. Instructor: Vicki Ferneyhough House Pricing and Market Trend Analysis, CE Elective, 1:30 p.m. to 5:30 p.m.

Instructor: Stacey Anfindsen

8:30 a.m. to 12:30 p.m. Instructor: Debbie Long

Offer to Purchase and Contract Changes Seminar, open to all membership, 9 a.m. to 11 a.m.

25 Christmas RRAR/TMLS Board Offices closed

16 Community Service Committee

January

17 Triangle International Council of REALTORS®,

1 New Year’s Day

11:30 a.m. to 1 p.m.

18 New Member Orientation 19 Hot Topics from the Real Estate Commission Instructor: Miriam Baer, EVP

22 REALTOR® Foundation of the Triangle Board Meeting

Fall 2010

3 REALTOR® Store Closed for Inventory 7 Inaugural Ball 12 CE Elective: “The NCAR Residential Forms”

1:30 p.m. to 5:30 p.m. Instructor: George Bell

18 Community Service Meeting REALTOR® Review

15

FORMS GUY COLUMN

G. WILSON ”WILL” MARTIN, JR.

Changes aplenty for forms, effective Jan. 1

Dear Forms Guy: I hear there are a lot of changes to the Exclusive Right to Sell Listing Agreement. What’s up with that?

Sincerely, Dude Dear Dude: You heard right.

A number of the changes are to conform the Exclusive Right to Sell Listing Agreement (form 101) to the revised Offer to Purchase and Contract (form 2-T), which goes into effect on Jan. 1, 2011. For example, the same changes have been made to the wording of the first three paragraphs of the listing agreement (“Property,” “Fixtures” and “Personal Property”) as have been made to those paragraphs in the Offer to Purchase and Contract. We have also moved a few paragraphs around to improve the form’s flow.

Dude: What other changes have been made?

Forms Guy: There is a new “Seller Representations” section that is a combination of existing and new items. The items in the existing listing agreement that have been moved into this new section are the “Flood Hazard Disclosure/Insurance,” “Synthetic Stucco,” “Owners’ Association,” “Termite Bond” and “Receipt of Sample Forms” paragraphs. The wording in the “Owners’ Asso16

REALTOR® Review

ciation” paragraph has been modified to require a seller whose property is subject to an owners’ association to promptly complete an Owners’ Association Disclosure and Addendum form (form 2A12-T) after the listing agreement is signed since the seller will be required under the revised Offer to Purchase and Contract to attach the Addendum to an Offer.

Dude: What are the new items?

Forms Guy: There are new seller representations addressing how long the seller has owned the property and whether the property is the seller’s primary residence. Those items are included in the revised Offer to Purchase, so they have been added to the listing agreement so that the listing agent can get the required information up front. There is also now a seller representation addressing the existence of special assessments. Special assessments have been addressed in the Offer to Purchase and Contract for many years.

Dude: Anything else?

Forms Guy: Yes. The Seller’s Representation’s section also includes new items addressing current liens, access to the property, the existence of any recent FHA/VA appraisal, and whether the seller is either in or contemplating bankruptcy.

Dude: Current liens?

Forms Guy: Yes, this new section will enable the listing agent to get information about any loans on the property, whether the seller is current on his or her payments, whether there are any tax liens, fixture filings or judgments that would affect the title to the property, things like that.

Dude: Why would I need to get that kind of information when I take a listing?

Forms Guy: Several reasons, Dude. Determining the existence and amount of outstanding loans and other liens will help the listing agent and seller determine whether any sale of the property might be a short sale. It will help you get a handle up front on what the seller’s net proceeds are likely to be. And frankly, depending on Fall 2010

the seller’s answers to the questions, it may help you decide whether you want to take the listing in the first place.

Dude: OK, if I get all that information won’t I have to disclose it to interested buyers?

Forms Guy: Just because someone has a lien on a property doesn’t mean it’s a material fact you would have to disclose. The existence of a lien would be a material fact if the amount of the lien was such that the seller would be unable to pay it off with the proceeds of sale or from other liquid assets.

Dude: Did you say something about bankruptcy?

Forms Guy: Yes.

Dude: Why is that important?

Forms Guy: As the new guidelines for completing the listing agreement state: “A bankruptcy proceeding may, but does not necessarily, affect the ability of the seller to market and sell the property without the permission of the bankruptcy trustee and/or the bankruptcy court. If the seller is in bankruptcy or is contemplating bankruptcy, it is strongly recommended that the firm seek competent legal advice prior to taking the listing.”

Dude: What if I’m just not comfortable asking the seller for personal financing information when I take the listing?

Forms Guy: Dude, you can skip that section of the listing agreement if it makes you and/or

the seller uncomfortable. It’s not required. Understand, though, that you can’t stick your head in the sand and ignore things that would lead a reasonably prudent listing agent to question a seller’s financial ability to complete a transaction.

Dude: Are there any other changes to the listing agreement?

Forms Guy: Yes. There are some significant changes to the “Marketing” section. First, you probably recall that the listing agreement was revised a year or so ago to give the seller the ability to choose whether or not they wanted to permit the address of the property, automated estimates of the market value of the property and third-party See FORMS GUY on page 18

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REALTOR® Review

17

FORMS GUY continued from page 17

comments about the property to be displayed in Internet advertising.

If the seller wanted to permit the display of one or more of those items, the seller would check a corresponding box in the “Internet Advertising” part of the Marketing menu. The problem has been that if a seller elects not to permit the display of automated estimates of value or third-party comments about the property, that election only affects the Internet advertising of the listing firm and other participants in MLS. It does not affect the display of automated estimates of value or third-party comments on third-party websites such as Zillow, Trulia or REALTOR.com. So, in the new Internet Advertising section, the seller authorizes the display of the address of the property, automated estimates of the market value of the property and third-party comments about the property unless the seller opts out.

Dude: How would the seller opt out?

Forms Guy: By completing an opt-out form such as the Internet Advertising Addendum (form 105), which has been substantially rewritten.

Dude: But even if they opt out, won’t there still be a problem controlling displays on thirdparty websites?

Forms Guy: Yes, and the Internet Advertising Addendum

makes that clear. The second significant change in the “Marketing” section is the addition in the “Listing Service” section of the menu of the seller’s authorization to notify the MLS of the expiration date of the due diligence period when the seller’s property goes under contract.

Dude: Wow, that’s quite a few changes. Is there anything else?

Forms Guy: Yes, there’s one more thing I’d like to mention. In paragraph 18 of the revised form, several sentences have been added to try to explain where things stand legally between the seller and the listing firm if the seller decides during the term of the listing agreement that they no

This new section will enable the listing agent to get information about any loans on the property, whether the seller is current on his or her payments, whether there are any tax liens, fixture filings or judgments that would affect the title to the property, things like that.

longer want the listing firm to be their agent.

Dude: That happened to me last week! The seller called me up out of the blue and told me that they wanted out of the agreement with three months left to go because there hadn’t been enough showings. Where do things stand when that happens?

Forms Guy: A seller has the right to withdraw from the agency relationship at any time, but that does not mean that the seller can just walk away from their contractual obligations under the listing agreement, which is a legallybinding contract. Doing so could subject the seller to a claim for damages for breach of contract.

Dude: So what should I do if that happens?

Forms Guy: Well, as paragraph 18 suggests, the seller and the listing agent could mutually agree to terminate the listing agreement. The Termination of Agency Agreement and Release (form 720) could be used for that purpose.

Dude: What if the seller and I can’t agree on the terms of termination?

Forms Guy: Dude, this could be the subject of an entire Q&A. Will Martin is a man­ager at the law firm of Martin & Gifford P.L.L.C., which practices primarily in the area of real estate brokerage law. For more information about the firm, go to www.martingiffordlaw.com.

For the latest on forms changes, please visit www.rrar.com 18

REALTOR® Review

Fall 2010

Please join us for a

Holiday Party R S

Thursday, December 2nd Nuts, crackers 6pm - 9pm

and sweets!

111 Realtors Way

V

P

To register, visit www.RRAR.com.

Advance registrations requested.

Please register before November 29th.

Enjoy hors d’oeuvres, spirits and Cary, NC 27513 entertainment at the Raleigh Regional Association of REALTORS® holiday Members & Guests - $10 Each party Thursday, Dec. 2 from 6-9 p.m. at the association office.

Hors d’oeuvres • Spirits • Entertainment

RRAR is located 111 Realtors Way, Cary, N.C., 27513. For details, contact Priscilla Erwin at priscillae@rrar.com.

Questions? Contact Priscilla Erwin Fall 2010 at priscillae@rrar.com.

REALTOR® Review

19

10 tips for real estate success in 2011

By Bernice Ross

Instead of waiting until January 2011, why not set your goals for next year right now and skip the production lows that normally come at the end of the year?

Consider Michael Gerber’s concept of “working on” your business as opposed to “working in” your business. “Working on” your business means taking time to analyze market conditions, evaluate your marketing efforts and make adjustments to capitalize on market fluctuations.

It also means creating a written plan. (For those really new to real estate sales, Gerber is a widely respected entrepreneur, small business guru and bestselling author.)

1. The power of written goals.

Research has consistently demonstrated the power of writing down your goals. Mark McCormack, in his book What They Don’t 20

REALTOR® Review

Teach You in the Harvard Business School, reports on a study that followed Harvard students who graduated with a master’s degree in business administration from 1979 to 1989.

At the beginning of the study, only 3 percent of the graduates had written goals, 13 percent had goals that were not in writing and 84 percent had no goals whatsoever. Ten years later, the 13 percent who had goals were earning twice as much as those who had no goals at all.

What was astonishing, however, is that those who had written goals were earning 10 times as much as the other 97 percent put together. Subsequent research has also demonstrated that writing down your goals and sharing them with someone increases the probability of your success even more.

2. Set your income and closed transaction goals.

Assume you have closed 20 transactions so far this year and that you would like to close 40 transactions next year. If you double the amount of time that you put into your most profitable real estate activities (i.e., by eliminating what is not profitable), most agents easily increase their closed transactions by 50-100 percent.

3. Lead generation is the name of the games.

As a rule of thumb, about one out of three solid leads ends up closing a transaction with us. This means that if you want to close four transactions per month, you must have 12 well-qualified leads each month.

The issue is how to generate these leads. For example, if your conversion rate for website leads Fall 2010

is 1 percent, you must generate 1,200 visitors for 12 solid leads and four closed transactions.

If you convert 25 percent of your expired listing leads, you must call on the owners of 16 expired listings per month to close four transactions. If you convert 10 percent of your open house leads, you need 120 open house visitors per month to close those four transactions.

4. Ask for high-probability referrals.

In a slow market, solid referrals are more difficult to obtain. Target your prospecting to groups with the highest probability of creating a closed transaction. Since the first-time buyer market may be your best source of business, use this script to locate potential first-time buyers: “Do you know anyone who is currently renting who may be interested in lowering their monthly payments? With the current low interest rates, many renters can actually buy a home for what they’re paying in rent.”

5. Evaluate your progress weekly.

At the end of each week, evaluate whether you have hit your lead generation goals. If not, clear your schedule and continue to prospect until you hit your target. Better yet, make lead generation your top priority the first thing each morning.

Do nothing else until you hit your lead generation goals each day. Completing this one simple step will determine whether your business prospers or fails.

6. Use the 3-2-1 approach on a daily basis.

Once you have created your business plan, ask the following Fall 2010

questions at the beginning of each day: What are the three business activities I absolutely must complete today? Complete these first before doing anything else.

What two self-care activities will I choose today to keep me balanced mentally, spiritually, emotionally and physically?

What is one activity I can complete today that will help me have business tomorrow?

The challenge for most REALTORS® is that they allow less important activities to intrude on their “top three” priority items. Treat these appointments for self care and creating new business with the same priority you would attach to a listing appointment.

7. Use the 4-3-2-1 approach each month.

Schedule at least four days off each month; at least three nights each week where you have dinner with either family or loved ones; two days per month where you spend a full day with friends and/or family; and at least one day completely for you where you play golf, get a massage or do whatever you need to do to recharge.

8. Track market conditions.

Market conditions are constantly shifting. Use your “working on” sessions to determine which

parts of the market are the most active. For example, if the highend market is quiet and the firsttime buyer market is active, make first-time buyers your focal point for the upcoming month.

If a given subdivision has plenty of open house traffic, hold open houses there, even if it means holding open another agent’s listing.

The key is to adapt to market conditions and maximize the probability you will generate leads.

9. Track your results.

Experiment with this approach for one month and then evaluate your progress. If your sales are increasing, stay the course. If not, look at what could be altered to improve your sales.

10. The real secret of success.

Review your business plan, including your income and transaction goals, at least twice a day.

Keeping your goals in front of you constantly is the secret to achieving them. Envision yourself fulfilling your goals and have your best year ever in 2011.

Bernice Ross, chief executive officer of realestatecoach.com, is a national speaker, trainer and author of the National Association of REALTORS® No. 1 bestseller, Real Estate Dough: Your Recipe for Real Estate Success. Ross has a five-minute daily real estate show, named “new and notable” by iTunes, at www.realestatecoachradio.com.

You can contact her by e-mail at bernice@realestatecoach.com or www. twitter.com/bross on Twitter.

Review your business plan, including your income and transaction goals, at least twice a day. Keep your goals in front of you constantly. Envision yourself fulfilling your goals and have your best year ever in 2011.

REALTOR® Review

21

bits & pieces

REALTOR® store sales, calendars and more

2011 planners/organizers are expected in midNovember and are 15 percent off! Let us know your favorite style/color to be notified when it arrives.

Open house PVC Aframe/flag sets are on sale for 22 percent off, while supplies last. Regularly $45.90, sale price only $35.99. Hurry, a limited number of these combos are available.

Quantity discounts for holiday magnetic calendars are available! There is a good selection

Introducing two new items… excellent stocking stuffers!

Bobino® cord wraps. Tired of tangled cords on your MP3 player, computer and other electronics? Tame them with a Bobino Cord Wrap! Small, medium, large sizes available in six colors.

22

REALTOR® Review

from which to choose. Call for a faxable order form.

Driinn mobile phone holder – Do you recharge your phone at a wall socket and let the cord and phone lay on the floor? Protect it and keep it sanitary with this holder. Hangs between the wall and socket, stores the charging cord and supports the phone.

For more information contact the REALTOR® STORE at (919) 654-7253 or by e-mail to store@rrar.com.

Fall 2010

The 2011 President of the Raleigh Regional Association of REALTORS®

Linda Trevor Cordially Invites You to Attend the

Inaugural Ball Friday, January 7th Social Hour Begins at 6pm

Cobblestone Hall 215 Wolfe Street, Suite 100 Raleigh, NC 27601 Black Tie Optional • $50 Per Person Please RSVP by January 3rd as seating is limited.

If you would like to reserve a table of 8, please contact Priscilla Erwin at 919-654-5400 or via email at priscillae@rrar.com. To register online, please visit www.RRAR.com.

Fall 2010

REALTOR® Review

23

newsmakers

Local REALTOR® makes NAR’s “30 Under 30” list Christina Valkanoff, broker at Keller Williams Agency in Raleigh, is the only area REALTOR® to be named to the National Association of REALTORS® 2010 “30 Under 30” honor.

VALKANOFF

“It’s a huge honor, and I’m glad to receive it,” says Valkanoff. “It’s very selective. There were thousands of people who applied.”

The highly coveted award requires an extensive application process, which included having to write 15 essays and being interviewed on the phone for an hour about career and charitable activities. “It’s a production-driven award, but also heavily driven on community service,” she says.

Regarding the latter, she helped organize a 5K race that raised $13,000 for an agent and friend battling Stage IV cancer. The agent now is in remission. Valkanoff and her husband also own Dairy Queen franchises in Brier Creek, Morrisville and Knightdale that raise money for Children’s Miracle Network, which funds children’s hospitals.

For business savvy, Valkanoff was cited for doubling her sales from 2008 to 2009 to $10.1 million.

“When I doubled my business, I didn’t have my current team behind me, and now with my great team in place we are poised to do even more business,” she says.

Valkanoff accomplished this in the midst of an economic downturn because “I got very focused on the business of our business. It’s all about relationships. I give my clients the right advice, even if it’s not what they want to hear.” She adds that she prices her clients’ homes to sell in today’s market and spends a lot of hard work and time on her business.

Valkanoff thanks the support of her parents, her husband and the staff at Keller Williams Agency in receiving this award. She is expecting her first child in March.

24

REALTOR® Review

$500 convention smile R. Linda Richardson, REALTOR® of Fonville Morisey/ Lochmere, (left) is the happy winner of a $500 Visa gift card from a la mode Inc., an exhibitor at the REALTORS® Conference & Expo in New Orleans in September. She is congratulated by Kara Calderon, a la mode executive vice president of marketing. A la mode designs website, desktop and mobile tools that help real estate professionals complete real estate transactions. “The convention was filled with terrific educational sessions and lots of fun, especially the talent show for RPAC,” Richardson says.

South American celebration REALTOR® Jose Serrano, ABR, CIPS, CRS, GRI, SFR, SRES, TRC, of RE/MAX United (left) joins National Association of REALTORS® President-elect Ronald Phibs at the Real Estate Symposium in Buenos Aires to celebrate the 45th anniversary of the foundation of the Colegio de Martilleros y Corredores Publicos de San Isidro (CMCPSI).

Fall 2010

30 UNDER THIRTY: Now’s your chance!

Would you like to be considered for REALTOR® Magazine’s upcoming “30 Under 30” feature? Fill out an application today for your chance to be part of the 2011 class.

Each June, REALTOR® Magazine features 30 rising young stars in the real estate industry. Applications for the 2011 class of “30 Under 30” are due Jan. 15.

Who is eligible?

Any REALTOR® member of the National Association of REALTORS® who is under age 30 as of May 31 and has not been profiled in a previous “30 Under 30” feature is eligible for the 2011 feature.

Fall 2010

How do I apply?

NAR is accepting applications for the 2011 “30 Under 30” feature now. The online registration form is available here.

What criteria are used to determine who makes the list?

NAR looks for candidates who are successful in the real estate business and have demonstrated ingenuity and creativity in their careers. Special focus is on innovative marketing ideas, unique personal stories, tales of triumph, and leadership in the community and the profession. NAR also strives to ensure that “30 Under

30” honorees represent the diversity that exists in the business.

Will I be notified if I’m selected?

All applicants will receive an e-mail in May 2011 notifying them of their status.

Whom can I contact if I have questions?

Please contact Katherine Tarbox, senior editor, (312) 329-8403 or at ktarbox@realtors.org.

How can I read previous “30 Under 30” profiles?

Click here.

Click here for more frequently asked questions.

REALTOR® Review

25

WELCOME NEW MEMBERS Syed Z. Abbas, Zip Realty Inc.

Miranda L. Greene, Fonville Morisey

Matthew Polinchak, Fonville Morisey

Tuankerria Z. Allen, Solid Source Family First Realty

Tiffany Grier, Howard Perry & Walston

Temple G. Porter, Zip Realty Inc.

Demetria C. Alvarez, Safe Harbour Properties L.L.C.

Natasha M. Guillory, Keller Williams

Anthony J. Powell, Powell Appraisers

Deborah L. Hadlock, Allen Tate Co. Inc.

Michael P. Preslar, Howard Perry & Walston

Betty P. Alwran, Keller Williams Amy K. Anderson, Keller Williams Realty Andrea A. Arnold, Howard Perry & Walston John K. Barker, Barker Realty Inc. William T. Barker Jr., Barker Realty Inc. Archie R. Barrineau, Barrineau Appraisal Richard T. Baumgarten, Allen Tate Co. Inc. Moses Best, D.R. Horton Inc. Kenya C. Blackwell, Howard Perry & Walston Thomas Bohr, Howard Perry & Walston Nicole S. Bridgewater, Zip Realty Inc. Craig S. Brockman, Bev Roberts Rentals Dustin Brossoie, Total Source/Just Call Brenda Matthew K. Brubaker, Premier Carolina Realty L.L.C. Ruth S. Buell, Realty Executives Parrish Realty Mandy Burnhams, Fonville Morisey Rob Cagle, Fonville Morisey Kelly W. Cain, Howard Perry & Walston Christopher R. Carroll, P&L Realty Laveda M. Casterlow, T. Morris Realty Mallory Cavanagh, Howard Perry & Walston Rene Centeno, Wieland Properties Inc. Robert Chappell, Joyner Realty Co. Inc. Marianne C. Clarke, Keller Williams Megan M. Cleary, Daymark Realty Amy L. Coleman, Dream Living Realty Christina N. Combs, Fonville Morisey Debra J. Conaway, Condit Realty Cheryl Concepcion, Howard Perry & Walston David W. Corey, D.R. Horton Inc. Katherine E. Cornette, Regan & Co. Dwight E. Cotton, Promised Land Realty Angela Dawson, Northside Realty Inc.

Wesley Hall, Allen Tate Co. Inc. Norma J. Harrison, D.R. Horton, Inc. Kimberly G. Hernandez, Fonville Morisey Lauren F. Hicks, Fonville Morisey Stephen C. Hooper, Regan & Co. Danielle W. Hunt, D.R. Horton Inc. Anne P. Huret, Allen Tate Co. Inc. Jessie A. Jones, Howard Perry & Walston Scott P. Kaiser, Real Living Pittman Properties Carole W. Kay, Howard Perry & Walston Richard M. Keck, Block & Associates Realty Lorraine R. Kelley, D.R. Horton Inc. Tracy Kerr, Tracy Kerr Ali A. Khorram, Legacy Real Estate Properties Ernesto J. Kimble, C-21 Vicki Berry Realty Lauren B. Kirsch, Keller Williams Realty Kathryn A. Krieger, ERA United Home Realty Louise C. Lanthier, HomeTowne Realty Francesca H. Mahoney, Fonville Morisey Lisa H. Manning, Real-eStage Inc. Peter T. Marston, Simplify Realty Inc. Geraldine F. Martin, Gerri Martin’s Realty Angela McKeon, Zip Realty Inc. Angelica G. Melton, Concept Realty & Associates L.L.C. Sherwin D.B. Mena, CB Advantage NH Paul Middleton, Real-eStage Inc.

Nicole H. Privette, Til Dawn Real Estate Inc. Aparna Raguraman, Fonville Morisey Tolan C. Raynor, New Home Star Cieraca V. Rhodes, Keller Williams Joseph M. Robinson, McNeill Burbank Homes L.L.C. Rafael M. Rodriguez, Fonville Morisey Linda L. Rohrbough, Howard Perry & Walston Nina J. Rutledge, Allen Tate Co. Inc. Kelly Sanchez, Longhorn Real Estate Inc. Ruben Sanchez, Longhorn Real Estate Inc. Joseph C. Sciolino, Prudential York Simpson Underwood Brittany M. Sealey, Howard Perry & Walston Kaye Anne Sloan, Castle Creek Realty L.L.C. Cheryl P. Smith, Fonville Morisey Steven Solvick, Allen Tate Co. Inc. Bradley L. Stancil, Fonville Morisey Theresa Starkey, Carolina Advantage Real Estate Jason W. Staszesky, Howard Perry & Walston Wendy M. Sterns, Howard Perry & Walston Ann M. Stevens, Keller Williams Alton L. Strickland, Homes by Dickerson Real Estate Kathryn G. Tambke, 2SL Development L.L.C.

Garry S. Miller, Fonville Morisey

Mathai K. Thankachan, Powell Realty

Stephanie B. Miller, Wilson West Agency

Richard D. Tilley, Tall Traditions Realty

Shannon Mitten, Deal Realty

Ronnie M. Tropcich, Howard Perry & Walston

Wayne Moore, Fonville Morisey

Anna Marie Wade, Howard Perry & Walston

Cosmo C. Muti, Centex Realty Co.

Heather Wallace, Howard Perry & Walston

Gary L. Nelson, D.R. Horton Inc. Stan R. Nowell, Evergreen Properties L.L.C.

Robert C. Walton, Prudential York Simpson Underwood

James T. O’Brien, Wilson West Agency

Yuan Wang, CHK Realty

Vlasta C. Dortch, Keller Williams Realty

Eboni L. Pack, C-21 Vicki Berry Realty

Regina M. Warren, Ursula Gray Realty L.L.C.

Donald S. Douglas, Howard Perry & Walston

Dina Pappalardo, Keller Williams Realty

Charles I. Edmond, Howard Perry & Walston

Patricia G. Watson, Zip Realty Inc.

Dilip R. Parekh, Howard Perry & Walston

Kristen L. Edmond, Howard Perry & Walston

James Park, Zip Realty Inc.

Courtney A. Whalen, Prudential York Simpson Underwood

Vanessa M. Edwards, Centex Realty Co.

Christina M. Partridge, Keller Williams Realty

Sean Williamson, Dream Living Realty

Leslie L. Estes, Howard Perry & Walston

Bayard T. Pearce, Raleigh Cary Realty Inc.

Larry M. Wise, Howard Perry & Walston

Ruth E. Fagerberg, Keller Williams Realty

Amos Pedersen, Fonville Morisey

Jason Wojciechowski, Triangle First Realty

Meredith L. Gilley, Fonville Morisey

Deloris J. Perry Kerr, Fathom Realty

John H. Gilliam, Howard Perry & Walston

Nathonia L. Wood, Allen Tate Co. Inc

Megan C. Perry, Howard Perry & Walston

Hemant Goswami, Howard Perry & Walston

Elizabeth L. Phillips, Exit Realty Professionals

Fadia Zebib, Prudential York Simpson Underwood

Laura B. Green, Go Realty

Debbie Pitman, eRealty Inc.

If you would like to SPONSOR A NEW MEMBER ORIENTATION, please contact Priscilla Erwin at (919) 654-5400.

26

REALTOR® Review

Fall 2010

educational opportunities on greater cross-functional responsibilities, whether in their personal business, volunteer organizations or community.

The TRLA consists of seven program modules spread throughout the year. Topics discussed will range from leadership concepts, planning and administration, communication skills, spokesperson training and media relations, financial programs, issues and budgeting considerations, as well as community, government and regulatory affairs. Students also will participate in the “State of the Triangle” and North Carolina Association of REALTORS® Legislative Day. For more information, call Cara Mottershead at (919) 654-5400 or visit the RRAR website www.rrar.com/education.cfm/s/120/page/154 The following photos are from this year’s Leadership Academy media training.

Applications due!

Leadership Academy gives future leaders a great start The fourth annual Triangle REALTOR® Leadership Academy (TRLA) will begin in March to nurture a new generation of REALTOR® leaders. Applications are due Nov. 9.

The Raleigh Regional Association of REALTORS® recognizes that investing in the next generation of REALTOR® leaders is critical to sustaining a competitive advantage through the economic downturn.

The goal of the academy is to enhance, inspire and further develop leadership throughout the real estate industry.

Success in a difficult economy often comes down to personal advantage. The TRLA is a great investment in yourself. Taught by a nationally recognized faculty, the TRLA curriculum is designed to enhance the leadership skills, performance and success of REALTORS®. Participants emerge well equipped to take Fall 2010

REALTOR® Review

27

Sales skill still trumps tech

By David Fletcher

The race for better and faster technology has arguably replaced the rat race. We all know now who moved our cheese: Technology did.

Call me old-fashioned, but I prefer the rat race. At least I knew where I was going, what I had to do and who would win.

I knew I was going nowhere fast, that I had to keep up with the Joneses and I knew the rat always won.

Participation in the technology race means the last upgrade I purchased becomes instantly obsolete upon installation, and I’ve got to run faster to purchase the next one.

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REALTOR® Review

Technology is a race with no finish line. “Instant” will be way too slow in just a few years, no doubt.

Perhaps there will be broad adoption of technology that automatically reads, interprets and responds to text messages on your behalf. That will be a great day for sales agents who sit in sales meetings trying to look like they are listening but are instead quietly replying to text messages by blinking or sniffing or coughing in a coded sequence.

A few years ago, when texting was coming into its own, I had the following humbling experience during a meeting with four of the top agents on our team. While I

was sharing my vast wisdom on a myriad of fascinating topics, three of the agents were texting “happy birthday” to each other.

I wouldn’t have known had I not asked them why everyone was sitting with their heads bowed and giggling.

So much for my leadership and uncanny ability to hold focused attention. Looking back, I had probably asked them to do something hard and was really an old idea: role-play a script.

Fortunately, these were very successful members of our awardwinning team. Since I believe that breaking a few rules is the privilege of the productive, I let it go.

Fall 2010

All four were way ahead of me with their communications tech and knew it, but they also knew that a big part of their success was my experience – not my technology.

I was constantly calling upon one of them for technology tips, and they were constantly calling me about “what to say” to a prospect, a parent the investor. Once they learned what to say, they started making sales.

Their technology skills were impressive, but they were not making sales because of their technology: They were making sales because they knew how to sell.

There are some incredible agents using technology to build their businesses far beyond what they could produce without it, but they are the rare breed who knows that sales skills trump technology and that they are selling “because they know how to sell.”

Fall 2010

Technology is a great thing. We need technology, but we need to be honest about our own compulsions, addictive behaviors and the way we can justify the enormous amount of time that can be wasted.

Recently, an agent changed offices because the new broker “offered more advanced technology.”

Plus, she said, sales were slow and she thought a change would be good for her. I could not help but wonder if it was because “technology” was keeping her so busy that she had become less productive.

Could it be possible that “technology” has become the new hip excuse for a lack of production?

Not the technology itself, but how we use it or let it use us.

If she is really chasing better technology, there will be no end to the offices she will join before

her career is over. It’s a given that some office, somewhere, has or soon will have something better, faster and/or easier to use than your present office.

To their credit, there are some incredible agents using technology to build their businesses far beyond what they could produce without it, but they are the rare breed who knows that sales skills trump technology and that they are selling “because they know how to sell.”

Here’s the real issue. Ask your best sales agents – the productive ones – to what they attribute their success? They probably can’t give you a simple answer because they are unconsciously competent. While technology may be given as one reason, it’s not the reason for their success.

Technology is their friend, not their crutch. They know that technology will not help them in a sales situation when the buyer is asking for clarification or reassurance. Only they can do that.

The words they speak, not their technology, will make or break the sale.

They know how to prospect and what to say when they get a prospect. Technology is simply a prospecting and communication tool to them. They may be good or bad with technology, but they are outstanding when it comes to collecting commissions.

Your thoughts?

David Fletcher has been a Florida real estate condominium and new homes broker for 30 years. He is the founder of www.newhomesniche.com New Homes Niche, a builder-certified co-broker training system designed to assist prospective shortsale buyers move into new homes. You can reach him at davidf@newhomesniche.com.

REALTOR® Review

29

Single-Fam #N/A Townhouse-Condo

Local Market Updates

A free research tool from the Triangle Multiple Listing Service, Inc.

Entire Triangle Region All TMLS Activity

September 2009

2010

Change

Year to Date 2009

2010

Change

New Listings

3,787

3,442

- 9.1%

36,019

37,884

+ 5.2%

Closed Sales

1,944

1,462

- 24.8%

16,256

16,440

+ 1.1%

Median Sales Price*

$175,000

$192,000

+ 9.7%

$182,900

$189,000

+ 3.3%

Average Sales Price*

$208,626

$229,871

+ 10.2%

$224,063

$227,862

+ 1.7%

Total Dollar Volume (in millions)*

$404.8

$335.6

- 17.1%

$3,640.8

$3,743.1

+ 2.8%

Percent of Original List Price Received at Sale*

96.8%

95.6%

- 1.2%

96.5%

96.4%

- 0.1%

100

109

+ 8.8%

102

103

+ 1.3%

17,474

18,613

+ 6.5%

--

--

--

Average Days on Market Until Sale Inventory of Homes for Sale *Does not account for seller concessions.

Some of the figures referenced in this report are for only one month worth of activity. As such, they can sometimes look extreme due to the small sample size involved.

Activity—Most Recent Month 3,787

3,442

Activity—Year to Date 2009

37,884

36,019

2010

2009 2010

1,944

- 24.8%

- 9.1% New Listings

Closed Sales

Median Sales Price

$175,000

2010

$182,900

$189,000

Year to Date

September

Days on Market Until Sale 100

September

Closed Sales

96.8%

95.6%

2009 2010

96.5%

96.4%

- 0.1%

- 1.2% September

Year to Date

September Inventory of Homes for Sale 2009

102

103

2010

+ 8.8%

New Listings

+ 3.3%

+ 9.7%

109

+ 1.1%

+ 5.2%

Percent of Original List Price Received at Sale 2009

$192,000

16,440

16,256

1,462

17,474

+ 1.3% Year to Date

18,613

+ 6.5% 2009

2010

All data provided by Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.

For further information regarding TMLS Market Trends and Analysis please visit: www.trianglemls.com

30

REALTOR® Review

Fall 2010

Single-Fam #N/A Townhouse-Condo

Local Market Updates

A free research tool from the Triangle Multiple Listing Service, Inc.

Wake County

September

Wake County, NC

Year to Date

2009

2010

Change

2009

2010

Change

New Listings

2,048

1,763

- 13.9%

19,389

19,738

+ 1.8%

Closed Sales

1,081

742

- 31.4%

8,833

8,790

- 0.5%

Median Sales Price*

$185,000

$220,000

+ 18.9%

$198,950

$210,000

+ 5.6%

Average Sales Price*

$225,479

$261,557

+ 16.0%

$244,005

$253,775

+ 4.0%

Total Dollar Volume (in millions)*

$243.7

$194.1

- 20.4%

$2,155.0

$2,231.3

+ 3.5%

Percent of Original List Price Received at Sale*

97.2%

96.3%

- 0.9%

96.8%

97.0%

+ 0.2%

96

105

+ 10.0%

98

100

+ 2.4%

8,650

8,994

+ 4.0%

--

--

--

Average Days on Market Until Sale Inventory of Homes for Sale *Does not account for seller concessions.

Some of the figures referenced in this report are for only one month worth of activity. As such, they can sometimes look extreme due to the small sample size involved.

Activity—Most Recent Month

Activity—Year to Date 2009

2,048 1,763

2009

2010

19,738

19,389

2010

1,081

8,833

742 - 31.4%

- 13.9% New Listings

Closed Sales

Median Sales Price $220,000 $185,000

2009 2010

$198,950

$210,000

Year to Date

Days on Market Until Sale

September

Closed Sales

97.2%

96.3%

2009 2010

97.0%

96.8%

- 0.9% September

+ 0.2% Year to Date

September Inventory of Homes for Sale 2009 2010

+ 10.0%

New Listings

+ 5.6%

September

105

- 0.5%

+ 1.8%

Percent of Original List Price Received at Sale

+ 18.9%

96

8,790

98

100

8,650

+ 2.4% Year to Date

8,994

+ 4.0% 2009

2010

All data provided by Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.

For further information regarding TMLS Market Trends and Analysis please visit: www.trianglemls.com

Fall 2010

REALTOR® Review

31

Beautiful townhomes located right in the heart of Cary.

Townhomes from the $190’s Community Sales Manager - Tucker Beck

919-303-1982

• Four dazzling plans • 1650 to 2335 sq. ft.

• Basements/unfinished storage • Junior Olympic pool/Jumbo slide

• Clubhouse • Playground • Two-car garages included • Screened in porches

• Vaulted ceilings • Large master suites • Lofts

Directions: I-40 to Hwy 55 (toward Cary). Turn right on Green Level Road continue for approximately 1.5 miles to a right on Green Level Church Road. Continue for 3.5 miles and turn right on Yates Store Road. Models and Sales Center will be on the left.

www.OrleansHomes.com