Upcoming Events:
Pop The Cork at the Annual TREPAC Wine Tasting Event on Aug. 19 n Annual event to be held at HEB Central Market at
ular fundraising events, the wine tasting will take place from 6 to
4001 N. Lamar Blvd., upstairs above the Cafe
8 p.m. at Central Market located at 4001 N. Lamar, upstairs above the cafe. In addition to the smooth libations, the event is a great
C
alling all REALTORS®! Mark your calendars for a
networking opportunity for you to mix and mingle with real es-
night of fine wine, delicious treats and live music
tate professionals. A selection of silent auction items, which atten-
on Aug. 19, as you join your fellow real estate pro-
dees may browse and bid on, will also be featured at the event.
fessionals for the annual TREPAC Wine Tasting. This fundrais-
Tickets to this year’s wine tasting event are $35 each and can
ing event will help support the Texas Real Estate Political
be purchased online at www.abor.com/events/wine.cfm. For
Action Committee (TREPAC) and its efforts to provide legisla-
more event information, including details on the available adver-
tive representation and support to the real estate community
tising opportunities, contact Christina Ortiz in ABoR’s Govern-
and private property owners.
ment
One of the Austin Board of REALTORS®’ (ABoR) most pop-
Affairs
Department
at
454-7636,
ext.
1501
government@abor.com. RL
or
July 28 WCAoR Rookie Club Meeting WCAoR Office - 11:30 a.m. July 29 WCR Luncheon/Elections/Fashion Show ABoR Auditorium - 11 a.m. August 4 AMBA Monthly Luncheon Austin Country Club - 11:30 a.m. August 10 NAPMW General Membership Luncheon Norris Conference Center - 11:30 a.m. August 18 NAHREP Monthly Luncheon Cool River Cafe - 11:30 a.m. August 19 ABoR TREPAC Wine Tasting Central Market - 6 to 8 p.m.
—Associates—
In Progress
JULY 2010 • VOL. 15 • ISSUE 3
Enjoyable. Entertaining. It’s all about you.
Check out Savvy Inspections Commentary on page 17
Build consumer confidence by stressing local strengths, TAR expert says
T
he value of using a REALTOR is being challenged
rising, resulting in declining profits, he says. Marketing dol-
that we are local experts and trusted advisors,” Kessler says.
on three fronts — by the government, by the
lars are still being spent with traditional media outlets but
Other statistics Kessler shared included facts on buyers
media and by technology — making the profes-
the effectiveness of online sources should also be
sion an increasingly more difficult one, says the president and CEO of the Texas Association of REALTORS.
and sellers. Almost half (47 percent) of buyers were first-
evaluated.
time buyers. The top
Another finding in Kessler’s industry update
reasons
they
TAR’s Travis Kessler discussed these and other issues
is that there is a need for generational and cul-
that are having an impact on the real estate industry during
tural diversity. “The average age of REALTORS
were a desire to
an update to members and guests at a recent Certified Res-
is 53 while the average buyer is 15 to 20 years
own, current af-
idential Specialists meeting.
younger which makes their preferences and ex-
f o r d a b i l i t y,
pectations different,” Kessler says.
change in family
“The number one issue is that the national attention on
cited for buying
real estate, especially in areas not doing well, has shaped
The image of the REALTOR is also an im-
and undermined consumer confidence,” Kessler says. “The
portant concern and Kessler says professionals
expectations of agents, buyers and sellers have changed.”
should recognize the importance of strength-
A healthy per-
To increase consumer confidence, REALTORS should
ening the relationship with the consumer.
centage of buyers
underscore that the volatility of the market will be over-
TAR’s multi-million dollar public relations
(77 percent) used an
come and that the value of real estate is always based on
campaign on the value of using a REALTOR
agent
the local, not national, market and that Austin is faring
is one of the efforts that should help with this.
much better than average. “Flat is the new up,” he says with a smile. “There is nothing wrong with stability.” Another concern is that while brokers keep investing in the infrastructure of operations the cost of doing business is
P. O. Box 81366 Austin, Texas 78708-1366
Another concern is that there is no comprehensive resource for real estate, which can confuse consumers as they
situation and the tax credit.
or
broker
while 85 percent of sellers did. Some eight percent of all sales were cash and 60 percent of sellers reduced their listing price at least once.
get information from a variety of sometimes contradicting
Some 10 percent of buyers purchased a home in foreclo-
sources. “There should be a single, definitive, unbiased
sure but thankfully there were not as many foreclosures in
source for information about real estate,” Kessler says.
our area as in others. “We need to kiss the ground we live
Presorted Standard U.S. Postage PAID Austin, Texas Paid Permit #715
In the current economic
on,” Kessler says, as he shared a chart of monthly foreclosure
outlook, there are several is-
filings that compared Texas to the rest of the United States.
sues that concern consumers
“We are truly blessed to see that difference.”
that REALTORS can help
Strengths of the Texas housing market include job
them overcome, Kessler says.
growth, interest rates, first-time homebuyers, price stability,
Among their top five concerns
housing affordability and cost of living in Texas. The number
are being able to afford the
of home sales is up 4 percent, the median price is up 3.1 per-
cost of living, having enough
cent and there is a six to eight month supply of housing.
to retire, uncertainty about
“Texas has avoided a major overhang of unsold properties,
things that could affect the
keeping supply and demand in relative balance,” he says.
family budget, health care and long-term care.
You can visit us online 24/7 at www.realtylineonline.com
Sales in 2009 were down about 8 percent from 2008 levels but 2010 should be relatively flat or about equal to 2001-
“What we can do is focus
2003 levels. Current prices are about 7 percent below trend.
on what we do best engage the
“This year will continue to present opportunities and chal-
consumer and let them know
lenges,” Kessler says. RL