The Residential Specialist, November/December 2012

November/December 2012

Building and Maintaining Referral Networks THE RESIDENTIAL SPECIALIST

The State of the Condo Market Changing to Stay Competitive

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NOVEMBER/DECEMBER 2012

In the still-turbulent economy, CRSs must help clients navigate numerous financial challenges.

BIG SQUEEZE THE

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residential The

S pecia li s t

November/December 2012 VOL. 11, NO. 6

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20 features

20 The Big Squeeze

By Daniel Rome Levine With tighter lending restrictions and a still-fluctuating market, many clients are facing financial challenges. CRSs must help them over the hurdles.

24 This Way Up?

By Regina Ludes Condo sales are improving, but it may be too soon to tell whether a recovery can be sustained for the long term.

28 Turnaround Time

By Gwen Moran To remain competitive in a constantly changing environment, some CRSs have reinvented themselves.

32 Net Work w w w . c r s . c o m

By Mary Ellen Collins Referrals are the lifeblood of the real estate business. Building and maintaining them should be a big part of every agent’s job.

Cover photo by Justin Lambert/Getty Images

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residential The

S pecia li s t

6 10 departments 4 PRESIDEN T ’S MESSAGE 6 Q UICK TAKES

inside CRS FROM 38 NEWS THE COUNCIL Sell-a-bration® 2013 REALTOR® University Chapter Leadership Training Your Home newsletter

By Mark Minchew, CRS

Closing costs; CEO succession; owning vs. renting; and more

10 GREAT FINDS 12 TECHNOLO GY

Holiday gifts for clients

46 REFERRAL MARKE TPLACE 48 ASK A CRS

Advice from the country’s top agents

By Dan Tynan Combating social media fatigue

14 TRENDS

By Rebecca Scherr Generating blog content ideas

16 P IP ELINE 18 UP CLOSE

A closer look at the new CRS.com

Matt Phipps, CRS Phipps Realty Warwick, R.I.

36 GO OD READ

Reviewed by Allan Fallow Rework

By Jason Fried and David Heinemeier Hansson

2 | November/December 2012

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residential The

Coming In The Next Issue ... n

Meet the Prez

Get to know Mary McCall, CRS, the 2013 Council president. n

Recovery Room

EDITOR Michael Fenner Email: mfenner@crs.com Tel: 800.462.8841, ext. 4428 Fax: 312.329.8882

The A List

ASSOCIATE EDITOR Regina Ludes Email: rludes@crs.com Tel: 800.462.8841, ext. 4404 Fax: 312.329.8882

Things are starting to look up.

What can agents do to prepare themselves for success as the market recovers? n

How do online listing aggregation sites fit into a CRS’s overall business strategy? n

Specia li s t

Move Over

Even with signs of improvement, many buyers and sellers are still on the fence. CRSs share tactics for moving them off.

Would you like to be considered as a source for a future story in The ­Residential Specialist? Send an email to mfenner@crs.com to be added to our potential source list. To see a list of the topics we’ll be covering, check out the magazine’s 2013 Editorial Calendar online at www.crs.com.

2012 COMMUNICATIONS ADVISORY PANEL Moderator: Colleen McKean, CRS Co-Moderator: John W. Goede, CRS 2012 COMMUNICATIONS ADVISORY PANEL MEMBERS Israel V. Ameijeiras, CRS; Shelly Campbell, CRS; DeDe J. Carney, CRS; Gretchen Conley, CRS; John B. Cotton, CRS; Lois Cox, CRS; Wendy Furth, CRS; Hap Hilbish, CRS; Geri Kenyon, CRS; Rita McNeil, CRS; Nancy Metcalf, CRS; Thomas M. Patterson, CRS; Vince Price, CRS; Rae Roeder, CRS; Cynthia J. Ulsrud, CRS; Beverlee A. Vidoli, CRS CONTRIBUTING WRITERS Mary Ellen Collins, Daniel Rome Levine, Gwen Moran OFFICERS: 2012 President Mark Minchew, CRS

PLUS: The Paperless Office

Chief Executive Officer Nina J. Cottrell 2012 President-Elect Mary McCall, CRS 2012 First Vice President Ron Canning, CRS 2012 Immediate Past President Frank Serio, CRS

PUBLICATION MANAGEMENT

Tel: 202.331.7700 Fax: 202.331.2043 Publishing Manager Andrea Gabrick Email: agabrick@tmgcustommedia.com Advertising Manager Andrea Katz Email: akatz@tmgcustommedia.com Tel: 202.721.1482 Project Manager Katie Mason Art Director Josh Coleman Production Artist Tommy Dingus The Residential Specialist is published for Certified Residential Specialists, General Members and Subscribers by the Council of Residential Specialists.

The magazine’s mission is: To be a superior educational resource for CRS Designees and Members, providing the information and tools they need to be exceptionally successful in selling residential real estate.

The Residential Specialist is published bimonthly by the Council of Residential Specialists, 430 North Michigan Ave., Suite 300, Chicago, IL 60611-4092. Periodicals postage paid at Chicago, IL, and additional mailing offices.

Change of address? Email requests to crshelp@crs.com, call Customer Service at 800.462.8841 or mail to CRS at the above address.

The Residential Specialist (USPS-0021-699, ISSN 15397572) is d ­ istributed to members of the Council as part of their membership dues. Non-members may purchase subscriptions for $29.95 per year in the U.S., $44.95 in Canada and $89.95 in other international countries. All articles and paid advertising represent the opinions of the authors and advertisers, not the Council.

POSTMASTER: Please send address changes to The Residential Specialist, c/o Council of Residential Specialists, 430 North Michigan Ave., Suite 300, Chicago, IL 60611-4092.

COPYRIGHT 2012 by the Council of Residential Specialists.

All rights reserved. Printed in U.S.A.

www.crs.com Ja nua r y/

Feb r ua r y

2012

DENT THE RESI

T BUILDING TRUS in Tough Times

IALI IAL SPEC

FIXING THE RKET: HOUSING MA CRSs Weigh In

ST ■

JANUARY /FEBRUAR Y 20

SURGE

New CRS president Mark Minchew looks to create a new wave of member engagement.

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President’s Message | News from Mark Minchew, CRS

Michael Thad Carter

Education: What CRS Is All About

CRS provides REALTORS® with the timely and valuable information they need to understand innovative business principles that will help them achieve real estate success.

As the year comes to a close, I am reminded of my first day as president at last year’s convention. I was approached by a CRS by the name of Lisa Conner of Anchorage, Alaska. She spoke gently but was poignant as she shared her concerns about the Council with me. She reminded me that we are not all about numbers, but “we are about providing valuable education to REALTORS® to help them improve their lives and the lives of others.” She spoke of being positive in all that we do and that the rest will take care of itself. That moment in time has guided me throughout this year as I tried to focus on quality above quantity.

I sincerely believe that CRS provides the most valuable real estate knowledge in the industry, and we have the finest group of instructors to carry that message. But I also believe numbers count when we enable more REALTORS® to succeed because of their CRS training. Through September 2012, CRS had welcomed 673 new Designees, including 64 who live in 17 countries outside the United States. A total of 2,292 students attended a CRS course in the first three quarters of the year, while 6,307 attended either a CRS course or an elective course. More than 3,000 REALTORS® paid to attend a CRS webinar. More than 500 students participated in CRS courses given overseas this year, and more than 475 professionals attended the Spanish version of the Sella-bration® education conference in Madrid this past summer.

At Sell-a-bration® in Phoenix last winter, CRS introduced the Legends series, which features topproducing CRS agents who share their strategies for success in real estate sales. The Listing Legends program was so successful that it was repeated in May at the Midyear Meetings in Washington, D.C., and in Orlando during the NAR Conference & Expo.

This year was also the “Year of the Chapter,” as CRS made a concerted effort to grow the chapters and expand their outreach at the grassroots level so more REALTORS® can experience CRS for themselves. The chapter presidents and officers have worked tirelessly to improve their members’ benefits, knowledge and leadership skills at the local level. Through the “Chapter with a Heart” program, members of the 57 CRS chapters continue to prove that giving back to the community is a worthwhile endeavor.

Looking ahead to 2013, please join us for the 25th anniversary of Sell-a-bration® at Caesars Palace in Las Vegas, Jan. 31 through Feb. 2, where REALTORS® of all levels of experience can learn about cutting-edge tools and techniques to help them in their real estate careers. To learn more, read about Sell-a-bration® 2013 on page 38. To register, go to crs.com/events/sell-a-bration.

CRS provides REALTORS® with the timely and valuable information they need to understand innovative business principles that will help them achieve real estate success. I thank all of you for helping CRS nurture the next generation of better-educated REALTORS®.

See you in the trenches,

4 | November/December 2012

Older Homeowners at Risk The collapse of the housing market has been especially painful for older Americans, according to a report by AARP. More than 1.5 million older Americans have lost their homes since 2007, and the percentage of people over age 50 with seriously delinquent mortgage loans — those in foreclosure and loans 90 or more days delinquent — increased to 6 percent in December 2011 from 1.1 percent in 2007. According to the report, millions of older homeowners remain at risk of losing their homes. As of December 2011, approximately 16 percent of the 3.5 million loans belonging to homeowners over age 50 were underwater. While rates of serious delinquencies are lower for those over age 50 than for those under age 50, delinquencies have increased at a faster rate for this group over the past five years.

Energy

Balance

6 | November/December 2012

Sizing Up Small Business Small-business owners and new startups now have an innovative tool to help them grow and compete in the marketplace, courtesy of the U.S. Small Business Administration (SBA). The free tool, called SizeUp, helps business owners identify new customers and compare their performance against other businesses in their industry using data collected from hundreds of private and public sources. Business owners can use the tool to find the best places to advertise their business, and the mapping feature helps them see where customers and suppliers are located. Find SizeUp at www.sba. gov/sizeup.

Although U.S. homes have grown in square footage, energy consumption appears to be declining, thanks to energy-efficient features in newly built homes, according to a survey by the U.S. Energy Information Administration. While the number and size of homes have increased over the past few decades, and more consumers use electronics on a daily basis, improvements in efficiency for space heating, air conditioning and major appliances have helped decrease energy consumption per household. Other findings from the survey include: • Homes located in cold-weather markets tend to be larger, while homes in warmer climates tend to be smaller. In Wisconsin, for example, the average space of a home requiring heating is nearly 2,100 square feet, while in milder climates, such as California, heated space averages 1,180 square feet.

• Central air conditioning was installed in 85 percent of new homes built in the last two decades, contributing to a nearly twofold increase in electricity consumption for air conditioning. Of the 139.8 billion square feet of space that is cooled, more than 58 billion (40 percent) can be attributed to homes built in the last two decades. As more Americans migrated to warmer climates in the South and the West, air conditioning usage also increased.

• As homes have become larger, they are more likely to contain better insulation and energy-efficient windows. These trends, as well as upgrades in equipment, appliances and construction standards over the past 15 years, have tempered energy consumption in larger homes.

Clockwise from top left: Image Source/Getty Images; Scusi/Veer; Thomas Northcut/Getty Images

QuickTakes | Industry headlines, statistics and trends

What It Costs to Close States with the highest closing costs in 2012 1. New York

$5,435

2. Texas $4,619 3. Pennsylvania

$4,467

4. Florida $4,395 5. Oklahoma $4,352 States with the lowest closing costs in 2012 When describing their dream home, a majority of Americans prefer bigger homes with amenities that provide comfort and convenience for their fast-paced lifestyles, according to a Homes.com survey.

More than 70 percent of Americans would choose a single-family home over any other type of property, while nearly 40 percent say they want a home with more than 2,000 square feet. Preferred amenities include a walk-in closet, en-suite bathroom and a fireplace. They also cherish spaces such as sunrooms, basements and screened-in porches that can be used in multiple ways. The survey finds that many Americans seek homes with outdoor space and amenities. More than 30 percent say they would like a deck, while 28 percent want a swimming pool and 21.5 percent want a patio.

1. Missouri $3,006 2. Kansas $3,193 3. Colorado $3,199 4. Iowa $3,257 5. Arkansas $3,325 Source: Bankrate.com 2012 Closing Costs Survey

Thumbs Up for Community Associations Seven out of 10 community association residents are satisfied with their communities, while 8 percent express some dissatisfaction, according to a survey by IBOPE Zogby International on behalf of the Community Associations Institute.

• 88 percent of residents believe their board members strive to serve the best interests of their communities.

• 81 percent of association residents describe the return on their association assessments as “good” or “great.”

• 73 percent say their professional community managers provide value and support to residents and the association at large.

• 76 percent say their community association rules protect and enhance property values, while only 3 percent say they hurt property values. www.crs.com | 7

QuickTakes | Industry headlines, statistics and trends Boomers Are Spreading Out A majority of real estate senior-level executives feel their firms are not adequately prepared for CEO succession, according to a study by Russell Reynolds Associates on behalf of the Urban Land Institute. Of the 235 executives surveyed, only 11 percent believe their firms are well prepared to implement a CEO succession plan.

Additional findings: • 48 percent review their CEO succession plans at least annually.

• 43 percent include assessments of potential internal CEO candidates in their plans.

• 28 percent specify the capabilities that will be required for future CEO success.

• 22 percent consider their succession plan to be formal and written.

• 18 percent include a transition plan that maps out a timetable for a new CEO. While succession planning for leading executives is a key driver of how effectively organizations manage succession at the top, less than half of those surveyed believe their firms are effectively developing the next generation of leaders. Only 59 percent of firms maintain succession plans for their CFOs, 53 percent for division heads, 45 percent for COOs, 31 percent for general counsels and 29 percent for CIOs. Not surprisingly, two-thirds of real estate executives rate themselves as less than effective at succession planning, and nearly one-third say they don’t feel confident that they could name a new CEO tomorrow.

8 | November/December 2012

It used to be that as older adults reached retirement age, many would relocate to Florida or the West Coast. But recent research by the National Association of Home Builders (NAHB) suggests that the geographic distribution of adults age 55 and over is spread out evenly across most of the country. Some 43.9 million households are headed by someone 55 or older, accounting for nearly 38 percent of all U.S. households. Across the 50 states and the District of Columbia, the share of households over age 55 ranges from 31 percent to 45 percent. West Virginia has the largest percentage of households over age 55 with 45 percent, followed by Florida with 44 percent. Utah and Alaska are the only states where less than one-third of heads of households are older than 55.

NAHB forecasts that the share of 55+ households will grow every year through 2019, when this demographic will account for 45 percent of all U.S. households.

For most buyers who intend to live in a home for at least three years, buying may be a better option than renting, according to a report from online listing service Zillow. In more than three-fourths of the 7,500 U.S. cities surveyed, buyers would break even after three years of owning a home. All possible costs associated with buying and renting were considered in the analysis, including down payment, mortgage and rental payments, transaction costs, property taxes, utilities, maintenance fees, tax deductions and opportunity costs. The analysis also adjusted for inflation and forecasted home value and rental price appreciation.

In some metro areas where home values plummeted during the housing recession, homebuyers broke even after less than two years of ownership.

For example, in the Miami-Ft. Lauderdale market, homeowners break even after 1.6 years of ownership, making it one of the most favorable areas for buying.

Meanwhile, in San Jose, Calif., where home values are among the highest, the break-even point comes 8.3 years after taking ownership.

Clockwise from top left: Ilin Sergey/Veer ; Bendicks/Veer; ihor_seamless/Veer; Aydin Buyuktas/Veer

CEO Succession Plans

AGENTS Look to the Future The future looks bright for the real estate industry, according to a survey of 929 agents by Inman News. Nearly three out of four real estate agents surveyed say they expect their business to grow over the next five years, and 65 percent believe their broker’s business will expand during that time.

Despite feeling optimistic about the future, agents also cited several concerns, including increased government involvement in real estate that could possibly mitigate their services and increased loss of control over listing data.

To overcome these obstacles, agents say they are focusing on providing better service, embracing digital technology and learning to adapt.

What Green Means

Password Overload Most people know the importance of creating multiple original passwords to protect their identity online, but it can be a challenge for consumers to come up with unique logins that they can remember, according to a Harris Interactive poll conducted on behalf of Janrain, a social media technology company. In fact, 38 percent of Americans say they would rather tackle household chores than create a new unique user name and password. Other findings: • 58 percent of online adults have five or more unique passwords associated with their online logins.

• 30 percent use more than 10 unique passwords.

• 8 percent have 21 or more unique passwords.

• Men ages 45–54 have the highest average number of unique passwords at 9.8.

• Adults age 55 and older average 8.2 unique passwords, while millennials (18–34 year olds) use 6.7 passwords.

The study also finds that 84 percent of consumers dislike registering on a website with their personal information. More than half dislike the prospect of remembering another user name and password, and 44 percent find online registration forms too long. However, nearly twothirds (62 percent) of adults say they would be willing to enter more personal information on a website, including their age, location and marital status, if they knew how the site or brand planned to use that information.

In California, a “green” label on a single-family home brings with it a price premium of nearly 10 percent, according to a study by economists at the University of California, Berkeley and UCLA. The Value of Green Labels in the California Housing Market finds that homes labeled as Energy Star, LEED for Homes and GreenPoint Rated sell for 9 percent more than comparable, nonlabeled homes. That price premium amounts to $34,800 for a home in California, which has a statewide median sale price of $400,000 for nonlabeled homes, the study finds.

Specific features of the various green home labels vary, but most include energy-efficient appliances, good air quality systems, efficient water use, sustainable building materials, and proximity to nearby amenities such as schools and parks, which reduces homeowners’ dependence on driving.

The report finds that the resale premium varies considerably from one region of the state to another, but the highest premiums are found in the hottest climates. Researchers also found that higher premiums for green homes are related to the rate of registration of hybrid vehicles in the area, which suggests that “environmental ideology” plays a role in boosting green homes’ value.

www.crs.com | 9

Great Finds | Tools of the trade

that’s a wrap While sending out a stack of greeting cards might be the easiest way to reach out to clients during the holidays, ’tis the season for showing off — and standing out — with a thoughtful token of appreciation for your most loyal clients. It’s an easy, no-pressure way to keep in touch. Here are some ideas to get you started.

home sweet home www.gumballmachinesusa.com Are you thinking of sending candy this holiday season? Make the gesture even sweeter with a nostalgic and whimsical house-shaped gumball machine. At just 6 inches tall, it fits perfectly on an office desk or kitchen counter and can hold gumballs, jellybeans or M&Ms. You can also customize it with a company logo.

Starts at 8.67 (minimum order of 75)

mug shot www.discountmugs.com Whatever the beverage, to-go mugs are a winter necessity. Emblazon a custom ceramic travel mug with a client’s initials for a personal touch or a company logo to extend your brand. The beverage holder features a double-wall stainless steel insulation liner to keeps drinks hot and a twist-lock lid to prevent unwanted spills.

Available in three colors.

Price varies with quantity

bottled up www.tastingroom.com Nothing says “celebration” like food and wine. Make it fun and easy for clients to celebrate with a chef-approved wine sampler. Send a complete wine tasting experience: six 1.7-oz. bottles of wines hand-picked by superstar chefs such as Mario Batali, including a medley of reds and whites; a suggested tasting order; and notes from the winemaker to enliven the experience. Go the extra mile and add a gift card so clients can buy full-sized versions of their favorites.

32.95

freeze frame shop.digipix.us Extra special clients deserve extra special gifts. Commemorate buyers’ big purchases with a framed etching of their new home in a fun four-panel pop-art style print from DigiPix U.S. Send a photo of the home and choose the material — rolled or stretched canvas or paper — and the print’s color palette, which ranges from vibrant primary colors to pastels and neutral tones. Price varies based on size and material; comes unframed.

Starts at 105 10 | November/December 2012

tag along www.potterybarn.com Over the hills and through the woods to grandmother’s house they go… Traveling is par for the course during the holidays, so why not help your clients get from here to there in style and keep track of their bags with a monogrammed luggage tag.

This durable tag features distressed leather material and a belt-like closure that attaches easily to any bag.

8 (plus $7 for monogramming)

Technology | Streamlining your business

burn notice

By Dan Tynan

As of October 2012, Facebook had more than 1 billion active users, up from 5.5 million at the end of 2005.

Source: Facebook

12 | November/December 2012

L

ast June Cheryl Bower, CRS, decided she needed to take a break from social media. Between trying to balance personal commitments and working in a red-hot real estate market, she realized she had to give up something — and she chose to slash the time she spent on Facebook and her personal blog.

“I was definitely burnt out,” says Bower, with Zephyr Real Estate in San Francisco.

“For REALTORS®, the SEO guideline is to put up a blog post every couple of days and post something on our Facebook business page every morning and afternoon. But my first priority is taking care of my clients and following up on referrals and Internet leads. Any time left over is for spreading the word about what is going on in my community. I just hit the wall with it all.”

Bower didn’t quit social media entirely, she just took a well-deserved three-week vacation from it. And when she returned, it was with

a different approach. No more compulsive checking of her accounts. She spends 15 minutes in the morning and evening catching up on what her Facebook friends are up to, but she’s turned off her email alerts and is much more casual about when and what she posts. And to relax, she hangs out on Pinterest, the social photo-sharing website that allows users to create image collections that reflect their interests.

A 2011 survey by the NATIONAL ASSOCIATION OF REALTORS® found that 91 percent of agents use social media, with four out of five of them on Facebook.

Some 67 percent use LinkedIn, while roughly a third are on YouTube and Twitter. The choices and time demands can be overwhelming, says Mike Lyon, author of The Social Media Guide for Real Estate, especially for “digital immigrants” — agents who didn’t grow up with technology.

“It’s easy to get overwhelmed and try to do too much too quickly, without any goals

David Selman/Glow Images

Keeping up with social media can be exhausting for anyone, especially busy agents. CRSs share strategies for avoiding burnout.

or strategy in place,” he says. “Some [people] might just throw up their hands and say, ‘This isn’t worth my time.’ ” To avoid that scenario, he says, agents should devise a smart social media strategy that helps them win new clients without sacrificing the time they spend with clients face-to-face.

Listen First, Post Later Whether agents have been in the social media space for a while or are just getting ready to dive in, the first and best step they can take to avoid burnout is to take some time to just watch what people are doing online. “Most people spend 80 percent of their time pushing out content and 20 percent listening. That [ratio] really should be flipped,” Lyon says. “Carve out 15 to 30 minutes a day just to lurk [on a variety of social media outlets],” Lyon says. “Poke around, learn what is permissible and what isn’t, what people like to share, what they care about.” In other words, pay attention to what seems to work and what doesn’t.

“Once you’re past the learning curve,” Lyon says, “sit down and figure out what you plan to do each day to build your community.” Having that plan can help agents make sure their social media efforts work for them rather than against them.

For starters, Lyon suggests creating a blog and coming up with a concise mission statement for it — like “Your one stop for Austin real estate news.” Write down 52 things you want to cover in your blog, so you’ll have something to write about every week. Use sites like Facebook, Twitter and LinkedIn to promote your blog and drive traffic to it whenever you post. You may want to capture email addresses from people who visit your blog, and include your Facebook and other social network addresses in all your electronic and printed materials, he adds.

“Yes, it is easier than ever before to reach a target audience,” says Lyon. “But creating quality content and building influence requires passion and dedication.”

Pick Your Spots With all the social media sites to choose from — and more sprouting up daily — it’s easy to get overwhelmed and spread yourself too thin, says Kimberly Cameron, CRS, with RE/MAX Properties West in St. Louis.

“My advice is to pick two and go deep,” she says. “Figure out how to use Facebook and Twitter well, get into the groove and make them work for you. Be ‘you.’ Social networking gives us a window into our clients’ lives we didn’t have just a few years ago. I now know when they are celebrating a big success, growing their family or feeling the pain of loss.

It should make your job easier, not harder.”

Lyon says agents need to go where their clients and potential clients are actively engaged, whether that’s Facebook, YouTube, Twitter, Google+, Pinterest or tomorrow’s hot, new social start-up. “You need to focus on the ones where your immediate network is, and add additional ones only if they make sense,” he says. “Go where the engagement is. Just focus on sharing good content on a platform you and your ‘friends’ all use. That will earn you success.”

“Social networking gives us a window into our clients’ lives. It should make your job easier, not harder.”

Use the Right Tools The beauty of technology is that you don’t always have to be there in real time in order to participate, says Gary Lanham, CRS, with Lanham & Associates in Fort Lauderdale, Fla. For $6 a month, Lanham uses the small business version of HootSuite to manage his Facebook, Twitter and LinkedIn profiles and schedule posts to appear throughout the week. (Other similar tools are available for free, such as TweetDeck and Buffer.) “Fatigue can be a real issue, but HootSuite takes the pressure off having to be on these sites all the time,” he says. “I put together a schedule of posts every week, so I’m constantly out in front of different parts of my base.” Lanham also makes sure

to link his social accounts so that when he posts something to Facebook, it’s automatically posted to Twitter and LinkedIn.

Keep It Simple Many REALTORS® try to do too much on their networks or stay in touch with too many people, Cameron says. The key is to simplify.

After five years on Facebook, Cameron says she has become more selective about who she puts on her “friend” list. “I don’t really need to get status updates from a friend of a friend I’ve never met,” she says.

“I need to stay engaged with the people I know, and those who know me. If you don’t let social media consume you, you can avoid burnout. It’s all about having a system you follow for what you do and why.”

Cameron says she only accepts friend requests from people she knows, those known to her network of REALTOR® colleagues, or nationally recognized leaders in the real estate industry. And she makes sure to put each new Facebook friend in an appropriate group to make them easier to sort.

Get Unplugged In a 24/7, wired world, it’s good to step away from computers and smartphones occasionally and recharge. Cameron does what she calls her annual tech detox every holiday season, logging off entirely before Christmas and picking up the thread after the New Year. Her accounts don’t go completely dark, however — she uses HootSuite to automate her posts while she’s offline.

But she’d never dream of abandoning social media forever. “Twenty-five percent of the business I’ve closed in the past year has come from Facebook,” she says. “These were not people who had been doing business with me already.”

A lot of social media burnout, Lyon notes, comes from unrealistic expectations. Many agents anticipate instant results without putting in the time needed to build relationships.

“If you want to make a sale tomorrow, you pick up the phone and start calling people,” says Lyon. “But making a sale on Facebook doesn’t take two weeks, it takes two years. It’s a marathon, not a sprint.”

Dan Tynan is a writer based in Wilmington, N.C.

www.crs.com | 1 3

Trends | Today and tomorrow

material matters Having a blog is one thing, but generating valuable content is another.

While nearly two-thirds of REALTORS® reported having a website for at least five years, just one in 10 reported having a real estate blog.

Source: 2012 NAR Member Profile

14 | November/December 2012

M

aura Neill, CRS, of RE/MAX Around Atlanta says she’s not a local celebrity. But her star power is precisely why a steakhouse in town recently invited her to host a tweetup, an in-person gathering of Twitter followers, to unveil the restaurant’s fall menu to prominent food writers and bloggers.

Neill is the author of the lifestyle blog “Atlanta: 365 Days, 365 Things To Do,” (www.365atlanta.com), which has earned her a large following, personally and professionally. The blog, which she started in 2010, is dedicated to restaurant openings, local events and shopping; the navigation bar contains a tab where visitors will discover that she’s a REALTOR®, but it otherwise has nothing to do with her job as an agent. She attributes up to 30 percent of her business to this blog, and it’s an integral part of her overall content marketing strategy, which also includes public speaking

engagements, networking all over town and maintaining two additional websites.

Many real estate agents’ blogs are often repetitive feeds of listings and “just-sold” notices, which can be a turnoff to clients.

But agents who think producing content unrelated to their real estate business is a futile endeavor might want to reconsider. A strategy rooted in content that creates buzz in local communities can help potential clients get to know an agent outside of buying or selling houses, which can ultimately result in a fruitful business relationship.

The Source CRSs who need a little inspiration for their blog or marketing content don’t need to look far from their daily life. That’s what James Nellis, II, CRS, of The Nellis Group, RE/MAX Allegiance in Northern Virginia, tells his team. Watching the local news channels and keeping a list of festivals in the local area is a good way to

Blend Images Photography/Veer

By Rebecca Scherr

start. Nellis, a CRS certified instructor, also subscribes to Google Alerts to generate seasonal and timely ideas. He suggests setting alerts for your name, company, competition, local community names, festivals by city, area restaurants, golf courses and boutique hotels.

John Doherty, a search engine optimization (SEO) consultant with the online marketing agency Distilled in New York City, says it’s important for REALTORS® to use good keywords in their blog posts, but blog analytics can be even more important. “Look in the organic traffic section, see what people are looking for on your site,” he says. Also try Ubersuggest.org, a keyword suggestion tool, which could lead to more content ideas, he says.

Neill uses Twitter to her advantage, with two accounts (@MauraNeill and @365Atlanta) that yield many of the ideas she turns into blog posts. “Because I’m on Twitter and it’s part of my day, I learn about things going on straight from the source. The key is being plugged in to your community and the needs of the neighborhood, and the better you can serve your clients.” And, as a blogger, she has formed relationships with public relations managers who keep her on top of local happenings and news.

“I don’t enjoy writing about real estate stats and the market,” Neill says. “This lifestyle blog gave me an outlet to write about things I love to do, and a lot of my clients enjoyed the same things. I was meeting people who were curious about why I started it, and I started getting business from not writing about real estate.”

If creating content sounds like a oneperson job, think again. “Leverage your current vendors, give that person credit and you look like the expert,” Nellis says.

Contributors can help boost a blog’s visibility in search results through SEO because sites with more frequent updates appear higher in rankings. Likewise, blogs that include plenty of links to other sites (such as a vendor’s) are likely to be more visible to users when they conduct Google searches. For example, Nellis says, ask a representative of a termite inspection company to write a blog post about how to get rid of ants, bugs and fungus. Have

“A strategy rooted in content that creates buzz in local communities can help potential clients get to know an agent.” the vendor supply a couple of photos and include other visual content, such as graphs and charts. This strategy helps both the REALTOR® and the vendor, and it can go a long way toward cementing a lucrative working relationship with both vendors and clients.

Buzz Makers Some topics resonate more with readers, which can be measured through page views, clicks and engagement. Neill says for her those topics are food, free stuff and flash mobs. She wrote about a spontaneous watergun fight in the Piedmont Park neighborhood, and the post got “a huge number of hits. Sometimes it’s the off-the-wall pieces that do really well,” she says.

Atlanta has a vibrant food scene that is home to a few Top Chef contestants, so writing about where she eats is something both Neill and her potential clients enjoy. Nellis has also found that covering the food scene is a big draw in his area. “We write about local restaurants that are already getting a lot of press, we go there and take photos and write about our experience,” he says.

He uses a “layering blog approach,” in which each post highlights a listing under community nonpromotional content. For example, The Nellis Group recently gave a rave review to Pork Barrel BBQ in Old Town Alexandria, Va. — one of the many dining spots readers would have easy access to if they lived at the luxury condo shown under the photo of a mouthwatering brisket sandwich. Nellis says this approach

helps generate interest in his business from homebuyers or sellers who happen upon his blog and become aware of his knowledge of the community.

Nellis also has written posts based on the most frequently asked questions he gets from clients. That’s the foundation of his Mythbusters blog, where posts have run the gamut from short sales to real estate terminology. Once these posts are live, he can send the link to clients and potential clients, who appreciate having access to these resources, Nellis says.

In the Details Quality content trumps the number of posts any day. Neill says that after striving to write at least a post every day for a year, she scaled back her efforts. “After the first year, I decided that I gained credibility, readership and enough attention that it didn’t have to be every day.” Now she strives to publish a couple of solid posts each week.

Doherty agrees that posting a few times a week is a good target and that frequency can change over time based on your schedule and your blog’s metrics.

He also suggests that CRSs contribute to design, travel and lifestyle blogs. “People there will care about what you have to say, and you can show off your houses. Add value and get in front of their audience, and use your content for lead generation.”

When it comes to posting overtly promotional items, Doherty says a good rule of thumb is to limit them to about one out of every 10 items. For nonpromotional posts, “answer the questions that people have, like ‘How do I get a home loan?,’ ‘What’s the market like in my area?’ Show off your thought leadership, and once you’ve earned people’s trust, you can put out more of your promotional content.”

Remember, Doherty says, you’ve got to get in your potential clients’ minds.

Think about what users are searching for and what they care about. He says, “They are looking for a home. They want to see pictures of houses. Big, beautiful pictures.

What’s around the area? And what are your competitors not doing?”

Rebecca Scherr is a writer and editor based in Washington, D.C.

www.crs.com | 1 5

Pipeline | Strategies to grow your business

show and tell The new CRS.com will make it easier for CRS members and Designees to build relationships and referral networks with their fellow professionals.

T

he Council has launched its new website (www.crs.com), which features a fresh focus on usability, functionality and flexibility. These three key qualities should help CRS better serve its members, while making it easier for them to find the information they need to do their jobs better. It will also provide a way for members and Designees to build relationships and referral networks with their fellow

professionals in a more interactive environment.

On the new home page, just below the login box for members, visitors will find quick links to three popular searches.

First is the new and improved Find a CRS search tool, which allows users to perform a quick search based on city and state or an advanced search with results narrowed by NAR Designations, specialty and language. The results are both listed and displayed on a map.

The second quick link, Find a Local Chapter, allows visitors to locate contact information for each of the 57 CRS chapters.

Cultura Photography/Veer

The Council’s new website offers new information and functionality that serves CRS members as well as consumers.

The third quick link, Become a Certified Residential Specialist, offers information on CRS membership, the value of the CRS Designation, member benefits and how to become a CRS. Visitors will also find links to general information about membership, eligibility and requirements, the International Designation and Designation Q&As. The page also details the three options REALTORS® have for affiliating with the Council. The first is to create a free account, which provides access to basic education, information and professional development opportunities. The next level of affiliation is CRS membership, designed for REALTORS® working toward their CRS Designation. Finally, Designation is for those who are ready to submit their CRS Designation application.

Back on the public home page, visitors will find basic Council information (About Us) and links to The Residential Specialist magazine, news releases, governance information and a message from the CRS President. The Leadership button links to lists of current board members, national officers and committee members.

Visitors will also find links to chapter, regional vice presidents, CRS instructor and staff information, along with a Contact Us page.

The Sponsors Overview page provides information on various sponsor service packages and details about the benefits of sponsorship and how the process works.

The Education button takes visitors to a complete catalog of CRS training — from classroom and online courses to webinars and self-study. They can review listings by format, topic, avail-

ability, credit type, course duration, date, location, instructor or sponsor. The site also allows visitors to search for courses by keyword to find offerings focused on a specific subject.

The Events link offers information on the annual CRS Sell-a-bration® program, in addition to the Council’s midyear and annual business meetings and the Legends program. The Community link provides access to the CRS Connect Blog and various member blogs.

The handy Search feature at the top right of the public home page makes it easy for visitors to find what they are looking for quickly.

Member Benefits Once CRS members and Designees log in to the website, they will notice some offerings designed specifically for them. Members simply log in with their email address — if you have not already registered for a password, just follow the Register link to do so.

Once logged in, members can update their Profile, which includes the information visitors will see when searching for a CRS agent. All members should make sure the biographical information listed in their profile is current and update it if necessar y.

From their profile, members can access information about their educ ation histor y, committee appointments, chapter affiliation and more. This is

Video Lesson Check out these video tutorials to learn about the features offered on the new CRS.com.

• Public Site Overview bit.ly/QSyeOU • Member (Logged-In) Site Overview bit.ly/RfdKDH • “Find a CRS” Tutorial bit.ly/VzSOLx

also where members can manage their CRS mail preferences and password.

The site provides a Network link that can be seen only by members who are logged in. From here members can build and keep track of their network of CRS agents. Within the “snapshot ” view of each CRS agent included in the search results, members will see a small green icon that allows them to add that agent to their personal network.

Logged-in members will also have access to the website’s Resources section, which features marketing tools to help members promote themselves to prospective clients and customers.

The Community link gives loggedin members access to the CRS Connect Blog, where they can post their own CRS member blog items and make notes.

By providing members and consumers with a website that is more user-friendly, interactive and flexible, CRS is better positioning members to succeed. www.crs.com | 1 7

Up Close | Profiles of people to watch

matt phipps,

CRS

Phipps Realty, Warwick, R.I.

CRS since: 2012 Contact: phipps. matthew@ gmail.com ; 401.640.0071

How has your background in journalism helped your company grow?

Being communications director for the company lets me keep one foot in journalism, and it’s really differentiated me from the other competing REALTORS® in the region. I’ve had to draft press releases when the company has won awards, I manage our social media, and up until a couple years ago, we had a real estate column in a local paper. But my experience working and interning at television stations has proven to be the most useful.

For instance, one thing that gave our company tremendous credibility was the weekly TV segment Real Estate Minute on ABC6 [the local ABC affiliate] and later House Talk on Fox Providence’s The Rhode Show.

We had complete creative control over Real Estate Minute, during which we’d air a one-minute, unscripted educational piece covering all things real estate, like current market conditions, home renovation tips or reflections on how real estate is covered in the media.

The segment ran for about three years until 2008, and now we’re doing the same kind of thing at Fox Providence with expanded sections such as interviews and Web chats where we answer comsumer questions.

From a visibility standpoint, it’s fantastic. We’re a small, boutique agency, not a franchise — we have less than 10 agents in our office — and it gave our small company statewide recognition.

18 | November/December 2012

What is it like to work with your high-profile father?

I know that I’ve had a tremendous advantage and an amazing opportunity to work alongside — literally — the most accomplished REALTOR® in our state’s history. There’s not a question that I can’t ask him, and from his 30 years of experience, there’s not a question that he can’t answer.

I’m often asked about my dad, but I’ve also reaped the benefits of working directly with my grandmother, who was a pioneer in Rhode Island real estate and for women. I run into so many of her former colleagues who tell me that they’re a part of real estate because of her. Her work ethic and hustle is something I admire and strive to emulate.

But the most difficult part of working with my dad is that there will always be people who question my success.

I use that criticism to motivate me to work even harder.

You were named one of REALTOR® Magazine’s “30 Under 30” in 2008 and founded the state chapter of NAR’s Young Professionals Network (YPN) in 2009. What’s the significance of a group like this?

There was a serious need for it — at the national and local level — to set the tone for and keep pace with the future of the industry. Before YPN, I’d attend events and it felt like the only young REALTORS® I saw there were my co-workers. It’s not to say that they weren’t out there or didn’t exist, but I didn’t know who or where other young professionals were. I knew they had to be out there.

Real estate remains competitive, but I think there’s a level of camaraderie and willingness to work together now that didn’t seem to exist before the down economy.

Buyers and sellers and listing agents are teaming up to get to the closing table, and I was trying to capitalize on that. I knew if we started this group, we would attract the younger REALTORS® and get them involved. It was an “If you build it, they will come” sort of thing.

You have twin daughters who recently turned 3. Will you uphold the family policy you grew up with and make them get their real estate license at 18?

I think they’ll break the gender gap and be in the NBA in 2032. Joking, of course. Whatever it is they want to do, I’ll support them. My family worked hard, and I continue to extend that legacy and put everything into my work.

It’s so the girls can have the best possible education, anything that they want or need, so they can be amazing at whatever they put their minds to.

ASIA KEPKA

REALTOR since: 2001 ®

How did you get started in real estate?

I am a fourth generation real estate practitioner. When my grandparents eventually settled in Rhode Island after several moves, there was no one really advocating or servicing relocation needs where they lived. So my grandmother started the company in the mid-70s; my father [Ron Phipps, CRS, the immediate past president of the NATIONAL ASSOCIATION OF REALTORS®] started working for her right out of college. As a kid, the bus would drop me off at the office after school.

Getting a real estate license has really become a tradition in my family. My dad and his siblings had to get their real estate license when they became eligible at 18, and we had a similar policy in my family. I got licensed in 2001 while studying journalism and philosophy at American University, and I would sell houses during the summers when I returned home.

“Real estate remains competitive, but I think there’s a level of camaraderie and willingness to work together now that didn’t seem to exist before the down economy.”

Matt Phipps, CRS

www.crs.com | 1 9

OCEAN PHOTOGRAPHY/VEER

20 | November/December 2012

THE BIG

By Daniel Rome Levine

With tighter lending restrictions and a still-fluctuating market, many clients are facing financial challenges. CRSs must help them over the hurdles.

R

ita Driver, CRS, with All Stars Realty, just outside Memphis, Tenn., knows that when it comes to helping people who are having trouble financing a home purchase, creativity can be key.

One such client came to see her this fall. He had recently retired and gone through a divorce, so he was looking for a smaller home while he tried to sell his current one. Even though he had excellent credit and sufficient savings, he had been rejected for a loan by three lenders because they felt his income was not sufficient to cover his debts and they didn’t believe he was serious about selling his current home. “They didn’t want to deal with a loan that was not a slam dunk to work through,” she says.

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22 | November/December 2012

As Driver’s client illustrates, it’s not just low-income Americans who are having a hard time financing the purchase of a new home. With the U.S. economy still mired in an extended downturn and lenders being more tightfisted, a wide range of people across all income brackets have seen their finances destroyed and credit ruined as a result of job losses, bankruptcy and other financial hardships.

The numbers don’t lie: While unemployment fell below 8 percent on a national basis in October, it remained higher than that in many parts of the country; short sales accounted for 10 percent of all home sales in August, while market research firm RealtyTrac reports that there were nearly 200,000 foreclosure filings that same month; and nearly 30 percent of all mortgage loans are underwater. Given these statistics, CRSs everywhere are now

more than ever being asked to help people work through the challenges they face obtaining financing. This may require agents to use creative solutions to find a loan, formulate an alternative plan, or explain why it might make more sense to wait and buy later. Whatever the answer, REALTORS® can play an important role in serving as a trusted adviser, counselor and confidant to clients who are in desperate need of answers.

Seeking Solutions Betty Kerr, CRS, with Keller Williams Realty in La Quinta, Calif., specializes in working with low-income clients, many of whom have bad credit, minimal savings or other financial challenges, yet are eager to own a home. She has specialized in this niche throughout her whole 10-plus-year career.

JEZPER/VEER

Driver, on the other hand, who worked as a bank loan officer for two years before entering the real estate field, saw a perfect opportunity to get her client a loan insured by the government’s Federal Housing Administration (FHA) for low-income buyers. Reaching out to a network of trusted local lenders she had developed over the years, she found one who was willing to work with her client on an FHA loan. Then she helped her client draft a one-page loan proposal explaining his circumstances. “Because I know the rules and guidelines of these loans, I could structure the loan proposal for him in a manner in which I knew an underwriter would approve it,” she says.

Sure enough, Driver was able to obtain a $94,000 FHA-insured loan for her client and get him moved into a three-bedroom foreclosed property.

One client Kerr recently helped had $3,000 in credit card debt that was preventing him from obtaining a loan to buy a home he wanted. Kerr arranged for the seller to pay off the debt as part of the closing costs so that her client could restore his credit and qualify for a loan.

She actually had it written into the contract that the seller would pay her client’s credit card debt as part of the closing costs. This enabled him to get approved for the home loan.

For clients who are unable to obtain traditional financing and may want to buy a home that has been sitting on the market for an extended period, Kerr will approach the seller directly about providing her clients short-term financing to buy the home. “Many sellers, especially those with hard-to-sell homes, may not have considered owner financing,” she says.

Kerr is not deterred when clients don’t have enough savings to make a down payment on a new home. She typically asks them if they have a family member who might be able to loan them the money. If they think of someone, Kerr is happy to pick up the phone and call that person to explain the situation and ask for the money. “I have no shame in doing that,” she says. “Many times, family members want to help their kids, but the kids never thought to ask.”

In the 10 years she has been helping clients with financing challenges, Kerr has come to realize the benefits of developing a small but reliable network of trusted lenders she can turn to for help. These lenders sit down with Kerr’s clients and thoroughly review their credit reports and explain their options. Although her eagerto-buy clients may not want to hear it, Kerr and these lenders often advise them that their best option may be holding off and taking some time to repair their credit so they can qualify for a loan at a better rate down the road.

Renting, Kerr advises clients, is always an option, too. Sometimes homeowners are even open to the idea of renting with an option to purchase at a later date. In

“Things we didn’t used to see routinely, like clients who have filed for bankruptcy or who have been out of a job and can’t get financing, we’re now seeing every day.”

—Kimberly Cameron, CRS these cases, Kerr helps make arrangements so that all, or part, of her client’s rent payments go toward the eventual purchase of the property.

“I tell a lot of people, ‘Don’t rush. Just because it’s a great time to buy, it may not be great for you,’ ” she says. “This is going to be one of the biggest investments they are ever going to make and they need to make sure they get it right.”

Leveraging Relationships In St. Louis, Mo., Kimberly Cameron, CRS, with RE/MAX Properties West, has been spending more and more of her time the last few years counseling clients who want to buy a home but are trapped due to financing challenges. “Things we didn’t used to see routinely, like clients who have filed for bankruptcy or who have been out of a job and can’t get financing, we’re now seeing every day,” she says. “The stigma and embarrassment once associated with these events is gone. Everyone now is in the same pathetic boat.”

Cameron relies on the knowledge she gained during the five years she spent working as a lender in the late 1990s and early 2000s to help her clients. She can offer solutions based on clients’ specific challenges, such as guiding them to loan officers with specialized expertise, like those in the field of credit repair. Or, depending on their situation, she may suggest that clients look into certain types of

loans that might have less onerous screening requirements and thus be easier to obtain, such as so-called portfolio loans, which are held by a bank instead of being sold into the secondary market.

In initial meetings with these clients, Cameron focuses more on gaining an understanding of their financial hardships and what can be done to repair their situation long term, rather than talking about real estate. “Before, my job was simply helping people buy and sell homes,” she says. “Now I’m acting more as a consultant and putting people in contact with financial planners, tax experts and lawyers.”

Working hand in hand with these outside experts, Cameron can offer clients a comprehensive, team approach to help them overcome financial challenges. In most cases, she and the other members of the team are on the same page in advising clients on what they need to do to fix their situation. That advice is based on one simple principle: “You need to tell them what they need to hear, not what they want to hear,” she says. This is especially true when it comes to counseling clients who want to buy, despite their situation, but would be far better served by waiting and focusing instead on repairing their credit first.

The most effective way to communicate this message, Cameron says, is by making the conversation as analytical and factual as possible. “Take the emotion out of it by treating the subject of home ownership no differently than you would if you were talking about the performance of a 401(k) or any other investment that is key to their long-term financial success,” she says. “Talking about it in these terms makes people realize that buying a home is about much more than just what color am I going to paint a room or where am I going to put a sofa or my big-screen TV. It’s an investment.”

Daniel Rome Levine is a writer based in Wilmette, Ill., and is a frequent contributor to The Residential Specialist.

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Condo sales are improving, but it may be too soon to tell whether a recovery can be sustained for the long term.

24 | November/December 2012

Jezper/Veer

By Regina Ludes uch like the single-family housing market, condo sales have improved in many locations across the country in 2012, but progress is slow. According to the NATIONAL ASSOCIATION OF REALTORS速 (NAR), condo and co-op sales totaled 540,000 in September 2012, unchanged from August, and they were 12.5 percent higher than September 2011 when 480,000 units sold. The median sale price of condos was $181,000 in September, up 10 percent from the previous year when the median was $164,500.

Demand for condos has increased, which helps reduce inventory. At the end of September, 284,000 condos were available for sale in the U.S., representing a 6.3-month supply at the current sales pace, down from 410,000 units in September 2011, which was a 10.3-month supply, according to NAR. But every condo market is different, so recovery is progressing at different rates and for different reasons. To get a better handle on the current picture, The Residential Specialist asked several CRSs to provide a snapshot of the condo market in their locations.

www.crs.com | 2 5

Virginia In Northern Virginia the condo market is thriving, thanks to continuing low interest rates, a strong job market and a convenient public transit system that enables residents to commute to jobs in Washington, D.C., says Brenda Stone, CRS, with Stone Realty Services, Keller Williams Realty, in Alexandria, Va. After condo sales peaked with 337 units in 2006, they dropped to 242 in 2008, and then rose to 276 in 2011, says Stone, quoting local MLS statistics. As of Sept. 1, 214 condos had sold, 31 units were under contract and 70 listings were still on the market. Stone believes if these figures pan out, total sales this year will easily surpass those from 2011.

Stone attributes the resurgence in condo sales to the revitalization of many communities located along the Metro, the region’s public transit line, in the mid to late 2000s. The mix of condo conversions and new developments has attracted young urban professionals and empty nesters who want to be closer to the city. “The ability to walk to the Metro is worth 25 to 50 percent of a condo’s price,” says Stone.

In addition to public transportation, neighborhood shopping and entertainment amenities appeal to residents.

“They want everything to be right there.

They’re not interested in building amenities like swimming pools because they’re never home [to use them],” Stone says.

Two-bedroom units in Alexandria are taking longer to rebound simply because there are more of them to sell, says Stone.

“There’s always more supply of them at

any given time, so it takes longer for buyers to absorb what’s on the market,” she explains. Units below $500,000 are selling more quickly than higher-priced units, while those selling for under $250,000 are rare and are usually located furthest from the Metro.

Stone believes the shrinking condo inventory may help future sales. “Lower inventory has created more urgency in the marketplace. Sellers are getting multiple offers for their homes and are selling for close to their list price,” she says.

New York After a sluggish start to 2012, condo sales in Westchester County, N.Y., have bounced back, but they pale in comparison to the robust activity of five years ago, recalls Perry Goldman, CRS, president of Westchester Condos and Co-ops in Croton-on-Hudson, N.Y. The affluent suburban county appeals to young professional couples and older families who prefer the quiet neighborhoods, quality schools and an easy 30- to 60minute commute to New York City.

Condo and co-op sales account for 15 percent of total residential housing sales in the county, says Goldman.

According to the Hudson Gateway Multiple Listing Service, 435 condos sold during the first half of 2012, a 9.3 percent increase from the same time in 2011 when 398 condos sold, but far lower than the 516 units sold in the first half of 2008 or the 683 units in the same period of 2007. “We’re still reeling from the effects of the recession. The condo market suffered the same way the single-

Condo Sales At a Glance Year

Total Sales

Median Price

Inventory

Month Supply

2009

464,000

$175,600

411,000

12.7 months

2010

474,000

$171,700

429,000

12.0 months

2011

477,000

$165,100

291,000

9.7 months

Through September 2012

540,000

$181,000

284,000

6.3 months

Source: NATIONAL ASSOCIATION OF REALTORS®

26 | November/December 2012

family home market did,” says Goldman, who adds that lower-priced units will likely pick up first and at a faster rate than higher-priced properties.

The median condo sale price was $338,000 at the end of June, down 3 percent from the previous year when the median was $348,500, and far below the $400,000 median sale price in June 2008, according to local MLS data. Inventory has declined, with 779 condos on the market at the end of June, down from 967 a year ago. Goldman says condo sales are slow to return because many buyers are still reluctant to enter the housing market in an uncertain economy.

“Five problems are facing buyers today,” he says. “They’re concerned about having sufficient funds to cover the down payment and closing costs, and they’re concerned about meeting lenders’ more stringent requirements related to job history, credit scores and paperwork. They’re concerned about appraisals, including those for short sales and foreclosures, which skew prices downward. Many people are still uncertain whether they’ll still have a job in the future. Some are concerned that housing prices will continue to fall and are deferring a purchase because they think they can get a better price six months or a year from now,” Goldman says.

In addition, many buyers cannot get approved for loans because they do not meet the stricter financial requirements that the FHA has imposed, Goldman says. “The condo market will revive when the economy does,” he says.

Florida “Because we’re a resort market, we thought we were immune to the downturn,” says Jim Larson, CRS, a broker with Keller Williams Realty Premier Properties in Islamorada located along the Florida Keys. “We were one of the last markets in the country to go down, and one of the first to recover.” Today, condo sales are slowly climbing and demand is strong, especially from retired baby boomers seeking a second home, Larson says.

Of 577 total residential properties sold in 2011, 137 were condos and

townhomes, representing 25 percent of the total housing market in the Florida Keys, says Larson, quoting local MLS statistics. Condo sales peaked in 2003 with 221 units sold and bottomed out in 2007 when only 52 units sold. As of June 2012, 59 condos had been sold, down from 79 a year earlier.

The average condo sale price as of June 2012 was $327,808, up from $274,335 a year earlier. Condo inventory has steadily fallen to 172 in June 2012 from 193 in June 2011 and 278 at the end of 2009.

Condos priced near $250,000 are “selling like hotcakes” says Larson, especially those with ocean views and boat dockage, a much sought-after amenity offered by 75 percent of condo buildings in the area. “When people live on the water, they have to have a place for their boats,” Larson says.

While the Keys may seem like a peaceful island paradise to some, the potential threat of tropical storms can give others reason for pause. “When you get hit with eight hurricanes over two years, some people might step back and think twice about staying here,” Larson says. “Anybody who lives by the sea knows that they can be vulnerable.” When a hurricane approaches the Keys, Larson says he and other residents move to higher ground until the storm passes.

Concerned buyers can be comforted with the information that buildings are constructed with concrete and can withstand wind and rain. Also, the community association handles exterior maintenance and improvements. Despite the weather risk, Larson says the perks of condo ownership in the area far outweigh the negatives. “The landscape is always beautiful, and someone else cuts the grass and trims the shrubs,” he says.

Maryland Joy Snyder, CRS, with Prudential PenFed Realty, believes condo sales in Ocean City, Md., hit bottom in Nov. 2011, but the recovery has been sluggish. Ocean City averages 1,100 condo sales per year, says Snyder. But through August, 545 condos were sold, down from 571 at the same point in 2011, according to data from the Coastal Association of REALTORS®. “Demand

“ L o we r i nve nt o r y ha s cre a t e d mo re urge ncy i n t he ma rk e t pl a c e .

Se l l e rs a re ge t t i ng mul t i pl e o f f e rs f o r t he i r ho me s a nd a re se l l i ng f o r cl o se t o t he i r l i st pri ce .”

—B re nda St o ne , C R S, Al e xa ndri a , Va .

is there, but supply and financing are not,” Snyder says.

The sluggish sales activity is attributed to several factors, including the sell-out of new developments and stricter lending requirements, which require many buyers to make a 20 percent down payment and cover closing costs. For a property that costs $235,000 to $250,000, that is $62,000, far out of reach for many buyers. “Most people don’t want to relinquish that cash,” Snyder says. In addition, many cautious investors are waiting in the wings, preferring to buy distressed properties.

Meanwhile, inventory has fallen 25 percent over the past year, from nearly 1,300 listings in Aug. 2011 to 927 in Aug. 2012, says Snyder, quoting MLS

statistics. Sellers are receiving multiple offers, and properties are being sold at nearly 94 percent of the asking price.

Snyder says working in the Ocean City condo market requires a thorough knowledge of each building, including amenities, floor plans, capital improvements and financial condition — a tall order considering the 1,100 condo buildings located along 10.2 miles of beach.

The sales season peaks from February to June and again in mid-September to Thanksgiving, she says. Springtime buyers are primarily investors stocking up on rentals for the summer vacation season, while buyers who shop in the fall look for vacation properties they can enjoy over the winter. Showing properties is especially difficult during the summer months when units are occupied by vacationers, so showings are restricted to 10 a.m. to 2 p.m. on Saturdays, says Snyder.

Because the area attracts more than 8 million visitors every year and 350,000 part-time residents during the summer, agents often work 80 hours per week to accommodate people who want to conduct business while they’re in town, says Snyder. “In a resort market, you have to be accessible.”

Another challenge is dealing with buyers’ unrealistic expectations. “When people get here [for vacation], they get wound up and think ‘Wouldn’t it be great to live here?’ Once they get home, they change their minds,” Snyder explains.

To make sure buyers aren’t making an emotional decision, they have seven days to rescind the sale without penalty, says Snyder. “Because of the density and volume of available condos, agents need to keep clients targeted on what they can afford. They always want to overspend,” she says.

Much like the single-family housing market, the condo market is recovering in fits and starts, and every local market is experiencing the rebound differently. But despite the ups and downs, condo sales present a key opportunity for REALTORS® to serve their clients’ housing needs.

Regina Ludes is the associate editor of The Residential Specialist.

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28 | November/December 2012

By Gwen Moran

HOACK/VEER

To remain competitive in a constantly changing environment, some CRSs have reinvented themselves.

In 2010, Gary Lanham, CRS, began to see some momentum building in his Ft. Lauderdale, Fla., market after the downturn.

Short sales and distressed properties had pushed home prices so low that buyers were coming in from various other markets to buy properties. So, he opened his own brokerage, Lanham & Associates, Inc., but did business under the name Real Estate Recovery to better target short sale buyers and listings.

But this was not business as usual for Lanham — it was a complete overhaul.

He realized that ads in newspapers and magazines were more expensive and often less effective than his efforts using Facebook’s Pages feature and Google AdWords to target long-distance buyers interested in the Ft. Lauderdale market. Over time, he has seen strong volume from buyers in New York and Brazil, so he targets those markets in particular. He began conducting more seminars to educate buyers and sellers about the realities of a market where short sales and distressed properties are common.

“You constantly have to reinvent yourself,” says Lanham. www.crs.com | 2 9

Reinvention has become essential to survive in today’s marketplace. REALTORS® have had to make myriad changes, both large and small, to the way they do business. Some simply adopt new technology or a new way of approaching the market. Others take a much more strategic approach. One size does not fit all, but one thing is clear: A willingness to change is critical when it comes to remaining competitive in an uncertain market.

Riches in New Niches?

One of Lanham’s key changes was to shift his focus to meet the area’s changing demographics. To serve a growing customer base of Hispanic homebuyers, he hired more Hispanic agents, conducted bilingual marketing campaigns and Spanish-language short sale seminars and produced Spanish radio commercials. He has formed a network of Hispanic professionals to support the real estate transaction process, including bilingual mortgage brokers and an attorney. Lanham’s focus on the Hispanic market has helped him with recruitment, too, making his brokerage an attractive place for Hispanic agents who understand the market he is trying to target.

“The most important thing that happened was, by our interest in this demographic, I was getting contacted by Hispanic agents. Two of them liked our approach so much that they joined my company a month later as part of our team.

They’re doing fantastic,” Lanham says.

For Matt and Leslie Healy, both CRSs, of San Angelo Homes, REALTORS®, the key to changing their business was adding services. While their San Angelo, Texas, market had never experienced the real estate appreciation of markets like Phoenix and Las Vegas, the area was experiencing a shortage of inventory. Matt says their community of approximately 100,000 people would typically have about 750 homes for sale.

Today, that number is about 450, and many homes are being turned into rental properties rather than sold, since people 30 | November/December 2012

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in this military community often get transferred or deployed and have trouble selling their properties in a soft market.

But the Healys were ahead of the curve.

Approximately eight years ago, some of their previous buyers and others in the community began asking for property management services, such as managing repairs and maintenance and collecting rent from tenants, that they either couldn’t handle because they were out of the area or preferred to hand over to someone else.

When the local real estate market was sluggish and homeowners turned to renting the properties they own, there was still strong demand for this part of their business, which presently accounts for 20 percent of their cash flow. Matt believes this will be an important driver for their listing business going forward. “We

continue to get [property listings] in the door through our office as property managers, and we know that in three, four or five years, as the market truly turns, some of them will be going back into the market for resale,” he says.

During the downturn, Kerri C. Callidora’s relocation specialization took a hit, too. People weren’t moving as much, but as she looked around her Scottsdale, Ariz., marketplace, she realized that it was flush with high-end senior residences and assisted-living facilities. In 2010, Callidora, CRS, began working as a REALTOR® for Ventana Fine Properties, specializing in senior relocation, helping older adults transition into this new phase of life.

“It’s similar to corporate relocation in the skills needed. It’s also tremendously rewarding,” she says, because she’s helping people find the homes they will likely live in for the rest of their lives. Her first client in this market didn’t result in a sale, but the network she built out of that relationship is responsible for “five to six referrals a month,” she says.

Marketing Overhaul Glen Kelly, CRS, with Crossroads Realty in Toms River, N.J., had been advertising the “old-fashioned way,” using print media, including newspapers and glossy real estate magazines, which was expensive and didn’t generate results. “They are all great for showing a listing client how great their home looks in print, but the bottom line is they don’t draw buyers and end up becoming a very ineffective source of adverting,” he says.

He began asking previous and potential buyers where they learned about the properties they purchased and which advertising venues most influenced their decisions. Online advertising and marketing was the biggest factor by far, he says. So Kelly began experimenting by purchasing listing information on Craigslist, Facebook and Twitter and buying ads on Google and Yahoo!.

These ads increased Kelly’s response

rate tenfold, he says, while dropping his costs to less than half of what he would typically budget for each property.

The Healys recently began to send highly targeted emails to their client base, keeping in touch more often than they did when they were only mailing monthly flyers. They learned about real estate marketing expert and CRS certified instructor Pat Zaby’s InTouch marketing system, which delivers weekly real-estate focused emails, tweets and Facebook posts. Previously, they had been sending about 300 personalized letters in handwritten envelopes to clients each month, so the savings on postage, paper and time was significant. Clients have responded well, they say.

Establishing Expertise Successful REALTORS® are increasingly taking on the roles of expert and educator. Callidora regularly hosts seminars to help educate seniors about how to choose their next home and sell their existing home. This education-based marketing technique builds trust, she says, because there’s no hard sell. She offers information and, at the same time, positions herself as an expert.

“It’s not about getting something. It’s about ‘How can I help people understand what’s really happening at the ground level?’ ” she says. “You’re helping them navigate all of the information that’s out there and that builds trust.”

Lanham is also an advocate of presenting seminars. In addition, he has worked to position himself as an expert in media advertising and through appearances. He created a series of radio spots for a gospel station that had excellent reach into the African-American community in his area.

The voice-over artist for the ads was one of his clients who was from Nigeria.

The spots were so well-received that the station manager arranged an on-air interview with Lanham to explain short sales, how they work and how to buy these properties. “The station started playing those interviews during drive time in the

morning and afternoon and our business numbers started going up,” Lanham says. He recently completed his second interview for the station, and it was also well-received.

Pay It Forward Sometimes the necessary shift involves money. Making a greater financial investment in key areas can make all the difference.

Kelly says that spending his own money on marketing each property makes him more keenly aware of how well each vehicle produces a return on that investment. He custom-tailors programs based on how he believes he’ll reach the best audience, combining online vehicles, email blasts to his lists, and other forms of advertising, primarily online. Because each penny is coming out of his pocket, he pores over results and drops anything that isn’t working, even if clients clamor for tactics such as newspaper and glossy magazine advertising.

Lanham has decided to make a stronger financial commitment to his employees in an effort to retain the excellent team he’s built. Starting later this year, he plans to offer health insurance to his 12 full-time agents. He’ll get tax deductions and he’ll qualify for small business health insurance credits, but it’s still a big expense.

“The way you bring loyalty to your business is that you have to do something for these people that’s going to help them and also help you. It’s my biggest challenge today,” he says. He also believes it’s going to make a big difference in recruitment and retention based on feedback he’s gotten from his REALTORS®.

The downturn has caused agents to reexamine the way they do business, and it has reinforced the notion that REALTORS® must be ready and willing to change with the market.

Gwen Moran is a writer based in Wall Township, N.J., and is a frequent contributor to The Residential Specialist.

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32 | November/December 2012

Alexstar/Veer

Gary Rogers, CRS, ABR, of RE/MAX On The Charles in Waltham, Mass., knew a local agent who was unhappy in the profession. “She worked very part-time and hated real estate — you could tell when you talked to her,” he says. “Her father was a builder, and when I heard that she had moved to an office closer to his construction site, I sent an email to wish her luck. She called me within 20 minutes and said, ‘I’ve been gone from my old office for two weeks, and no one else has wished me well. I’ve decided to leave the business, and I would like to refer you my father’s subdivision.’ I got 24 new constructions to list all because I showed respect and was nice.”

In a profession built on personal relationships, the smallest gestures can make a big impression. Every connection is a potential link in a referral network, and ideally, a referral network evolves as an agent grows the business. Rather than employing one specific strategy, CRSs with the widest networks use a tactical, multifaceted approach that includes marketing, active participation in the profession and the community, and a reputation for being a helpful, supportive resource for clients, fellow REALTORS® and vendors.

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The Importance of Referrals Percentage of the typical REALTOR’S® business earned from past clients:

Percentage of business from client referrals:

2012: 19% 2011: 18%

2012: 20% 2011: 19%

Source: NAR Member Profiles, 2011, 2012

Get Involved “I’m always building my referral network, and I’m forever telling my associates about the power of the referral business,” says Geri Kenyon, CRS, with Kenyon Real Estate in Bradenton, Fla. “I love to go to conferences and the Chamber of Commerce and Toastmasters and mingle.

I will ask other agents if they’re going to a certain meeting, and they’ll say, ‘I’m too busy.’ I hear that a lot. How can you be too busy to go where all these people are just waiting for you?” Kenyon attributes 70 percent of her business to referrals.

Rogers, who reports that 80 percent of his business comes from referrals, says participating in real estate association and chapter activities is a must. “You get to meet other like-minded people who are serious about the business, and that’s your referral network,” he says. “When you’re on a committee with people, working side by side all year, you get to know them pretty well. You know their abilities and you certainly know the areas they serve.”

He once received a call from a prospective buyer who had a budget of only $100,000 but was willing to have a lengthy commute from home to work.

Although his market had no properties at her price point, he says, “I thought of another community that might be a good match for her, and I had just come from a CRS program committee meeting with an agent who worked in that 34 | November/December 2012

area. I referred the client to her, she sold the person a house, and the client later referred her parents to me to buy a house in my area.”

According to Steve Goddard, CRS, with RE/MAX Beach Cities Realty in Manhattan Beach, Calif., agents who volunteer in their communities increase the number of people who will turn to them when they have real estate-related needs. “I’ve served on the board of the Salvation Army for 20-plus years. People see that you’re active and how hard you work, and business comes out of that,” he says. “I’ve helped the Salvation Army with many real estate transactions. Sometimes, property was left in a will with the proceeds going to the Salvation Army and three other groups, and I’ve made contact with people at all four organizations. It’s not work I went after, but it was good.”

Near and Far Like all successful networkers, Goddard, who attributes 80 percent of his business to referrals, recognizes the importance of getting outside his own market to build his referral base. By working to meet like-minded professionals outside their immediate area, agents can build their profile and boost their chances of receiving a referral.

“I’m a member of the Women’s Council, and I go to their meetings that are 50-75 miles away,” Goddard says. “I have found that most of the referrals I get come from just outside my market area to within 50 miles. I may not get a client from Kansas City, but I will definitely get people from San Diego and Santa Barbara.”

Goddard worked with several colleagues from other areas of California about 20 years ago to create the California All-Stars, a group of about 40 agents across the state. “People in our offices were always asking if we knew someone in a particular area. So we called REALTORS® who we had done business with in the past and were happy with and then asked them for advice on other agents. We developed membership guidelines and formed the group so we would all know someone in every area of the state.” The group still exists, and Goddard estimates that he’s gotten more than 50 referrals from its members.

Rogers agrees that it’s important for agents to expand their referral network by getting out of their own backyard. When

Bu ild in g an d ma in t a in in g a ref e rral n e t w ork is an on going p roce ss — n u t u rin g exis t ing rela t io n sh ip s is ju st as crit ic al as crea t in g n e w on es.

Bank of America relocated its headquarters from Boston to North Carolina and local tech companies were moving to the technology triangle, he found a unique way to tap into that market of relocating home sellers.

He attended a CRS course in North Carolina with a group of mostly Carolina-based agents. “When people from Boston went to North Carolina for a job interview and drove around with a REALTOR® to talk about where they might live there, I wanted that agent to say, ‘Do you have an agent to sell your house back home? I had coffee with a guy who was here from Boston, and I’d love to refer you to him.’ I reached out to half a dozen of the N.C. agents, and they were impressed that I said ‘I’m here to meet you because I want you to refer people to me.’ I got five referrals from them.”

Be Memorable Kenyon is a master of the “giveaway” and has become well known at conferences for distributing little gifts that bear

her name and contact information. She’s given away note cards with inspirational sayings, packets of wildflower seeds and now keychain whistles.

“People love giveaways! They remember me and when they see me they will ask, ‘What have you got for me?’ The most simple, inexpensive things work the best. Fifteen years ago, I gave away little red zipper bags that I filled with items like a magic marker and a tape dispenser or hand sanitizing wipes and earplugs. I still have people at a conference see me and say, ‘I’m sharing a room. Do you have any earplugs? And I always do!”

For former clients who recommend her, she sends a thank you note with something small like a Starbucks gift card. “They’re the little niceties,” she says. “I believe that business is good manners.”

Rogers uses one business card for clients and another for agents that says, “Making Your Referrals Feel Right at Home, Covering the Greater Boston Area.” The back contains bullet points of his industry resume. He also has an agent-only website, www.refergary.com, that focuses on his professional expertise and achievements. Although he used to include that information on his regular

website, he says, “One ‘almost client’ looked at the agents only tab on my website, and he saw all of the professional stuff I do and said, ‘I know you’re real busy, Gary, and you travel a lot, and I just think you’re too busy to work with my daughter.’ I’d rather separate out the messages — agents understand that you’re not too busy.”

Building and maintaining a referral network is an ongoing process — nurturing existing relationships is just as critical as creating new ones. “I keep a list of everyone who’s ever given me a referral or whom I referred people to and touch base with them periodically, just to make sure they’re still in the profession,” Goddard says. For the several people who’ve given him numerous referrals, he makes a point of chatting with them monthly.

“People refer to people they know and like,” says Rogers. It’s that simple.

“Be known and be nice” — an effective formula for staying top of mind among clients, colleagues, friends, neighbors and anyone else with the power to direct business to one agent … or another.

Mary Ellen Collins is a writer based in St. Petersburg, Fla., and is a frequent contributor to The Residential Specialist.

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Good Read | Resources in print

work it out Can a startup company reject budgets, meetings, boards of directors, salespeople and advertising and still thrive?

Reviewed by Allan Fallow

Rework

by Jason Fried and David Heinemeier Hansson Crown Business 279 pages, $22

36 | November/December 2012

J

ason Fried and David Hansson, the co-founders of Chicago-based software company 37signals, seem impressed that they’ve been in business for more than 10 years. If you’re willing to take advice from a pair of green self-starters like them, you’ll find enough pearls of business wisdom in Rework to string a triple-strand necklace.

Both men would probably hate that analogy, for Rework is all about ditching the frills and extras — five-year plans, financial projections, beefy marketing budgets — that more traditional businesses seize upon as essential. Instead, they want to strip your operation down to the studs, “throw out the traditional notions of what it takes to run a business” and rebuild it from the ground up.

Who stands to benefit the most from such corporate rehab? Fried and Hansson say they’ve written “a different kind of business book for different kinds of people.”

They identify Rework’s target audience as “hard-core entrepreneurs … less intense small-business owners … people stuck in day jobs who have always dreamed of doing their own thing … and [even] those who’ve never considered going out on their own and starting a business.”

Like the streamlined new business model they champion, the book has a slimmed-down, small-is-beautiful feel to it. Distilled is probably the best word to describe the overall effect: The authors claim, for example, to have cut their original manuscript from 57,000 words to 27,000 words for the published version.

“Trust us,” they write, “it’s better for it.”

One thing’s for sure: Just as digital publishing has lowered the obstacles for first-time authors, business tools that were once inaccessible now lie within easy reach

of us all. “There’s a new reality,” Fried and Hansson tell us. “Today anyone can be in business.” Hear them out: Technology that [formerly] cost thousands is now just a few bucks or even free.

One person can do the job of two or three or, in some cases, an entire department.

Stuff that was impossible just a few years ago is simple today. ... Starting a business on the side while keeping your day job can provide all the cash flow you need.

You don’t even need an office.

Against the Grain One of my favorite takeaways from their first chapter — although “opening salvo” might better describe it — is that longterm business planning is simply pie in the sky. “Why don’t we just call plans what they really are: guesses.” Business plans lock you into a course of action, the Rework authors say, stifling innovation and shackling you from making things up as you go. A more logical approach — one that takes advantage of the fact that you have the most information while you’re doing something, not before you undertake it — would be to relinquish the financial and strategic guesswork and decide simply what you’re going to do this week, not this year. Or, as Fried and Hansson put it in their trademark epigrammatic style: “It’s OK to wing it. Just get on the plane and go. You can pick up a nicer shirt, shaving cream and a toothbrush once you get there.”

I also savored the light they shed on our hoary growth-at-any-cost mentality: There’s nothing wrong with finding the appropriate size for your business and staying there, they remind us, so why is expansion the default aim of most business models? The proper size for your own business venture could be anywhere from five people to 50. It might even be, they reassure readers, “just you and a laptop.”

The authors rail against the mindset fomented by workaholics who spend

Business plans lock you into a course of action, stifling innovation and shackling you from making things up as you go. A more logical approach would be to relinquish the financial and strategic guesswork and decide simply what you’re going to do this week, not this year. nearly every waking hour at the office.

Not only is camping out in your cubicle counterproductive, they write, “it’s stupid.”

Burning the midnight oil leads to manufactured crises, inelegant solutions, guilt, poor morale and — inevitably — worker burnout. “Workaholics aren’t heroes,” write Fried and Hansson. “They don’t save the day, they just use it up. The real hero is already home because she figured out a faster way to get things done.” Want to take a page from the Rework playbook?

Send your people home at 5.

Fundamental Focus One of the book’s greatest values, in my inexpert mind, is to bolster the reader’s

new-business instincts. “The easiest, most straightforward way to create a great product or service is to make something you want to use.” When you “scratch your own itch,” as the authors put it — that is, when you design what you know and build what you need — you’ll be able to assess its marketplace merits right away.

Perhaps best of all, they point out, such an approach lets you “fall in love with what you’re making.” And isn’t that the way we’ve always heard it should be?

“After all, you’ll (hopefully) be working on this for years to come. Maybe even the rest of your life. It [had] better be something you really care about.”

Plenty more commonsense nostrums like those fill the pages of this levelheaded, focus-on-what’s-fundamentaland-forget-the-rest business book. In Rework, you’ll (re)learn that you need less than you think to start a new venture, for “premature hiring is the death of many companies”; that meetings are toxic, press releases are spam, résumés are garbage and “building to flip is building to flop”; and that interruptions suck the living soul from the productivity of any enterprise.

(Try instituting “no-talk Thursdays,” the authors suggest with the glee they find in iconoclasm, to battle these unwelcome breaks.)

Does Rework suffer from the “integrity tics” that bedevil business books these days? Yes, alas, it does: It’s hard not to suspect that Zappos.com CEO Tony Hsieh contributed that glowing blurb lauding the book’s “wisdom” because his shoe company’s “obsession with customer service” is portrayed so reverently on page 138. But if you’re looking for a quick, readable compendium of tips and tactics on paring down your startup operations to What Really Matters, you’ve got Rework cut out for you.

Allan Fallow is a magazine writer and book editor in Alexandria, Va. You can follow him on Twitter @TheFallow.

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Chapter Leadership Training

Real Estate Master's Program

Course Listings

p. 40

p. 41

p. 45

inside CRS N E W S

F R O M

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C O U N C I L

Sell-a-bration® 2013

Celebrating 25 Years of Educational Excellence

38 | November/December 2012

Sell-a-bration® 2013 kicks off Jan. 31 with a series of interactive, topic-driven and solution-focused workshops. Scheduled workshops include: App-i-tizers! Fun, Functional Friendly Apps for Agents Craving Productive Technology; Growing Your Business No Matter the Market; How to Take Over Your Local Market by Using Video and the Web, Shaking Hands and Kissing Babies; Tech Lead Generation and Conversion; Cloud Computing and Google Apps; iPad and Your Listing Presentation; Customer Before Company: Revolutionize Your Business the Nordstrom Way; Running Your Business Like a Business; Short Sales: Negotiating Secrets Revealed; and Boosting Your Business with Pinterest, the Fastest Growing Social Media in History.

Renowned experts in technology, marketing and real estate sales will present keynote sessions that are sure to motivate and inspire attendees. Copeland will open the program on Jan. 31 with his keynote session. Denny Grimes, CRS, will lead the keynote session Predicting the Present on the morning of Feb. 1, while Ashton Gustafson will present The New and Modern REALTOR® Mindset: Making Music in a Noisy World later that afternoon. James Nellis, CRS, discusses systems in his

morning keynote address on Feb. 2, and Ron Phipps, CRS, and Matt

Carlos Sanchez Pereyra/Getty Images

J

oin the Council of Residential Specialists and hundreds of real estate professionals as they convene at Caesars Palace in Las Vegas for the 25th anniversary of Sell-a-bration® Jan. 31 – Feb. 2, 2013. Since its inception, the annual educational event has attracted thousands of professionals of varying experience levels from different parts of the world who gather to learn from each other and build their professional networks.

Much has changed in the real estate industry over the last 25 years, and Sell-a-bration® has helped REALTORS® stay abreast of the changes in technology, marketing strategies and productivity tools to help their business. Attendees of this year’s event will have ample opportunities to network with their peers, and they will walk away armed with fresh ideas, new contacts and a renewed commitment to their business. Agents can earn 16 credits toward the CRS Designation by attending Sell-a-bration® 2013.

The Council worked with Brian Copeland, CRS, to develop the program for Sell-a-bration®. “It’s year number 25. It’s going to truly be the most celebratory Sell-a-bration® of all time,” says Copeland, who will emcee the event.

Phipps, CRS, will present Trade Marking Your Personal Brand: Cross-Generational Marketing.

Educational sessions will cover some of today’s hottest topics, including: Negotiating Skills for Generation Y to Baby Boomers; Build a Real Estate Tribe; Mastering the Art of Prospecting; Top Legal Issues Facing Real Estate Agents; and Team Time – Building a Team Takes a Plan.

New this year are MegaPanels featuring top-producing CRS agents who will share their insights and experiences about working in the real estate business. On Feb. 1, CRS certified instructor Frank Serio, CRS, moderates MegaPanel 1: How We

Survived the Downturn and What This Means for Our Future. On Feb. 2, MegaPanel 2, From 100 – 150 Units Plus: Next Level Business Strategies, will feature veteran agents who will share their strategies for taking their business to the next level.

After each MegaPanel, attendees will have an opportunity to meet in smaller groups during implementation/coaching breakout sessions that are designed to provide agents with more personalized discussions about key issues affecting their business.

“This year, we’re adding conversation and implementation workshops, and the main stage

program has been completely transformed to optimize your time with the best and brightest at Sella-bration®. You’ll hear from 10 or more people on the main stage in the morning sessions and then be able to get almost one-on-one with them afterward to dig deeper into your personal needs in your business,” Copeland says.

Want to get a jumpstart on your education? Come a day early for the CRS Buyer Legends program on Jan. 30. For details, go to crs.com/events/ crs-legends.

Agents will have plenty of opportunities to network with their peers at the welcome reception on Jan. 31 and the luncheon on Feb. 1.

Tickets for luncheons on Thursday, Jan. 31, and Saturday, Feb. 2, must be purchased separately.

Whether you’re a first-time attendee or a returning participant, Sell-a-bration® 2013 promises something for everyone. “[The 2012 event] was my 14th Sell-a-bration®, and I am always amazed at the amount of knowledge I receive,” says Marylea Todd, CRS, with Prudential California Realty in Fullerton, Calif.

“I met so many newer agents who were attending for the first time, and they were overwhelmed by the networking and sharing of ideas among the attendees.”

Brian Wess, CRS, with Infinite Horizons Realty in Colorado Springs, Colo., says the knowledge he gained by attending Sell-abration® has paid big dividends. “I’ve always left with more information than I could possibly implement, and the gems that I’ve chosen to put into practice after each Sell-a-bration® have always given a noticeable boost to my business,” he says.

For a complete schedule and to register for Sell-a-bration®, go to crs.com/events/sell-a-bration, or call customer service at 800.462.8841.

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inside CRS

Chapter Leaders Prepare for 2013

M

ore than 100 CRS chapter leaders, regional vice presidents and national officers participated in the annual CRS Chapter Leadership Training Program in Chandler, Ariz., Aug. 24 – 25, 2012. CRS Designees who attended the two-day event took part in sessions that covered strategic planning, leadership development and chapter administration and management.

The Chapter Leadership Training Program prepares incoming chapter presidents and officers for the challenges and demands of their leadership positions so they have the confidence they need to do the job well.

The annual event provides incoming CRS leaders an opportunity to prepare for the responsibilities and roles they will assume as chapter executives.

Former chapter leaders Gregg Fujita, CRS, with Harbor Bay Realty

40 | November/December 2012

in Alameda, Calif., and Ron Canning, CRS, with Comey & Shepherd REALTORS® in Cincinnati, facilitated this year’s program and provided incoming leaders with a practical, nuts-and-bolts perspective of how chapter administration works.

Rachel Tristano, the Council’s director of chapter and regional programs, says the newly designed program provided a more comprehensive training experience for attendees. “We felt our chapter leadership already had strong leadership skills, but we needed a more focused approach that emphasized basic chapter operations, strategic planning and leadership development,” Tristano explains. “Instead of having an outside speaker teach only leadership training skills, the new program was facilitated

by CRS members who have experience as chapter presidents and regional vice presidents for the Council. They can teach from that perspective.”

The program has benefited chapter leaders of all levels of experience.

“Chapter presidents have a road map and a better understanding of their job and how to do it,” says Joanne Fraser, CRS, with Coldwell Banker in Los Altos, Calif., past president of the Northern California CRS chapter and a 2012 regional vice president.

Participants also took advantage of the opportunity to meet and share ideas with other CRS chapter leaders from around the country. They returned to their respective chapters with greater confidence and a solid foundation on which to build their chapters for the coming year.

“As a president-elect, the program was extremely helpful with finding ideas and solutions to assist me in moving into my role as the 2013 president of the Indiana chapter,” says Carolyn Kelly, CRS, with Coldwell Banker Troy Helman in Terre Haute, Ind. “I found the experts doing the presentation were exceptional, and the small group sessions gave us more exposure to what other chapters are doing to grow CRS,” she says.

Help Report Designation Misuse

T

he CRS Designation is one of the most prestigious in the real estate industry, and CRS Designees work hard to achieve it. It indicates to buyers, sellers and fellow REALTORS® that these agents adhere to the highest standards of professionalism in the industry and are committed to continuing their education.

To protect the integrity of the Designation, the Council encourages Designees to report any suspected misuse to the Council. Whether a case of misuse is an honest mistake or a deliberate misrepresentation, CRS takes every offense seriously, as does NAR. Its Code of Ethics prohibits REALTORS® from misrepresenting their status as members or Designees of NAR’s Institutes, Societies or Councils. If a REALTOR® is found to be misusing the Designation, chapters can take that member to the grievance committee of their local board.

To find out if another agent has the right to use the CRS Designation, use the “Find a CRS” tool on www.CRS.com to see if he or she is a current Designee.

If you believe an agent is misusing the CRS Designation, please contact crshelp@crs.com or call customer service at 800.462.8841.

Real Estate Masters

N

AR’s REALTOR® University now offers a Master of Real Estate (MRE) program that gives agents an opportunity to earn an advanced degree in one of five concentrations: Real Estate Association Management; Real Estate Asset and

Statement of Ownership, Management and Circulation The Residential Specialist (USPS# 021-699, ISSN# 1539-7572) is published (bimonthly) six times a year by the Council of Residential Specialists. The annual subscription price is $29.95. The mailing address of both the publication and the publisher is Council of Residential Specialists, 430 N. Michigan Avenue, Suite 300, Chicago, IL 60611-4092. The publisher is the Council of Residential Specialists, and the Editor is Michael Fenner. The owner of the publication is the Council of Residential Specialists.

There were 31,984 copies of The Residential Specialist published in September/October 2012; the average for the preceding 12 months was 34,089. The paid/requested outside-county mail subscriptions for the September/October issue were 30,342; the average for the preceding 12 months was 31,765. 592 free copies were distributed by mail in September/October, and the average number of free copies distributed during the preceding 12 months was 574. 750 copies of the September/ October issue were distributed outside the mail (to classes, membership kits, etc.), and the average number of free copies distributed outside the mail for the preceding 12 months was 1,450. 300 copies of the magazine were not distributed in September/October (office use, leftovers), and an average of 300 copies were not distributed from issues in the preceding 12 months. The percent paid/requested circulation in September/October 2012 was 94.9 percent, and for the preceding 12 months it was 94.0 percent.

Property Management; Real Estate Sales, Marketing and Management; Real Estate Appraisal and Valuation Services; and Commercial Real Estate Investment and Analysis. The first Master of Real Estate courses debuted in late February with courses offered in eight-week sessions, six times annually and taught by Ph.D.-level instructors and practitioners.

Several CRS Designees already are working toward achieving the MRE. Erica Ramus, CRS, of Ramus Realty

Group in Pottsville, Pa., says she frequently travels to larger metropolitan areas to take real estate education courses. She was attracted to the MRE program because the courses are online, and she can take the courses at her convenience, she says. Many of the students in her classes are aggressive early adopters of technology and new ideas, which adds to a dynamic learning environment, she says.

Jeanne Turnock, CRS, of Turnock Real Estate Services in Randallstown, Md., says she was attracted to the MRE program by a “thirst for knowledge. … It seems like every year that goes by, there is more and more we need to know,” no matter how much

www.crs.com | 4 1

inside CRS experience a REALTOR® may have, she says.

As a real estate pro with nearly 20 years of experience, Robert Wigton, CRS, sought an intellectual challenge, and the MRE program was a perfect fit. “If you’re not learning, you’re stagnating,” says Wigton, the CEO of the Nevada Association of REALTORS®. “Life is short, and I’m in favor of jamming as much learning experience as possible into my years on this planet.”

Wigton touts the MRE program’s flexibility and ease-of-use. “I would encourage anyone looking to expand their knowledge base to get involved with this program,” he says. “Even if you are not committed to completing a master’s degree, the classes offered by the university will pay dividends with your career in real estate.”

Similarly, Turnock says, “CRS has been instrumental in consistently providing the essence of knowledge that we need. REALTOR® University’s master’s program is like the icing on the CRS cake!”

For more information, go to realtoru. com/master-of-real-estate.

Referral Story: Relocation Success

“I

s this Gail?”

Those were the first words Gail Lidinsky, CRS, heard when a client couple called to inquire about finding Gail Lidinsky, CRS a vacation home in Marco Island, Fla., as part of a 1031 exchange they wanted to do on their property in Edina, Minn.

Lidinsky, who is with Crown Properties in Osprey, Fla., knew the couple from her years of living in Minnesota and stayed in contact with them through

42 | November/December 2012

Facebook. “They remembered [seeing] on Facebook that I was a REALTOR® in Florida. We hadn’t talked in years,” she recalls.

“They asked, ‘Are Susan Ackerson, CRS REALTORS® with the best online presence the best? If I’m looking at a property I like, should I go directly to the REALTOR® who has it listed?’ ” Lidinsky says. “They wanted to buy a property in one weekend, and they wanted to get the best deal with the best representative.”

Immediately, Lidinsky proceeded to explain what CRS is and why it is so valuable in the housing industry. After interviewing four REALTORS®, she passed along two names, including Susan Ackerson, CRS, broker/owner with Anchor Real Estate in Marco Island, whom the couple immediately contacted.

“When Susan answered the phone, she asked questions and presented a friendly, can-do attitude, which assured them and me that she would set aside time for them and be ready when they got there.”

“Gail’s phone call was a welcome one,” says Ackerson. “In addition to my longtime CRS membership, I think Gail was put at ease knowing how experienced I am and how committed I am to the real estate community,” Ackerson says.

“Gail gave me such good initial information about the buyer’s needs that I was able to narrow down what would suit them to just a dozen properties before I even spoke to them. When the buyers arrived on Marco Island, we did not waste any time and got right to work. Sure enough, we signed a contract and closed on one of those properties on the list.”

Lidinsky, who has made two outof-state property purchases herself, understands firsthand that trust is the key to working with an agent when buying properties from afar. “I think Susan did a fabulous job, and so did the clients. It’s clear that CRSs give quality service in all that they do.”

Personalize, Reproduce and Mail This Newsletter to Your Clients

Edit

Leave YOUR HOME as is, or personalize the newsletter by adding your photo, logo, address and phone number to the mailing panel.* You can also substitute any article in the newsletter with one of your own. Edit the newsletter ­electronically by downloading the Microsoft Word version at www.crs.com/ magazine/your_home_newsletter.shtml.

PLEASE NOTE: The images featured in the YOUR HOME newsletter may only be used within the PDF version of the newsletter. These images may not be reproduced or republished elsewhere outside of this newsletter format. CRS members are free to re-use the text of the articles contained in the newsletter, however.

Reproduce

Do it yourself with your office copier, or take the newsletter or electronic file (in addition to your photograph and any information you want inserted) to a printer who can prepare and reproduce the newsletter for you.

Distribute

Mail. If you photocopy YOUR HOME or use it “as is,” please note that it is designed to be folded in a Z fold with the words YOUR HOME facing out on one side and the mailing panel facing out on the other side. Postal regulations require that Z folds have three closures (tabs or tape) — one on top in the center and two on the bottom. For your convenience, we have placed asterisks (*) where the closures should be. Be sure to check with your local mailer or post office to make sure you have prepared your mailings properly.

Electronic File. Attach the customized newsletter file to an email to your clients or create a Web link to the file on your website. Consult your webmaster or technician to make sure the file is prepared correctly for these purposes, since these basic instructions will vary by person and system. * This newsletter is for the exclusive use of CRS members.

For a complete step-by-step guide to personalizing and ­reproducing the YOUR HOME newsletter, visit www.crs.com/ magazine/your_home_newsletter.shtml.

HOME *

YOUR T I P S

A N D

T R E N D S

F O R

H O M E O W N E R S ,

B U Y E R S

A N D

2012

N O V E MBE R

S E L L E R S

Season Pass

T

BATHING BEAUTY

T

he bathroom. Big or small, it’s one of the rooms in your house that gets a lot of attention — from you, your family and friends, and potential buyers. And as one of the most popular rooms in the house, it deserves an update every now and again. Even if renovations aren’t in your plans, there are some easy ways to update it on a budget.

The key is to revamp focal points, such as mirrors or rugs, and then focus on unique additions. Consider these tips from Apartment Therapy.

Start by replacing the mirror — a bathroom staple — with a more contemporary shape and style. For big impact with minimal effort, reduce clutter on the bathroom counters by repurposing mason jars from the kitchen to hold makeup brushes and pencils, small combs or extra toothbrushes, and store makeup or other odds and ends in stylish mini baskets or ceramic pots. To refresh the counter without replacing it, change out the fixtures and accessories like the soap dispenser and towel rack.

Pull together the entire bathroom with complementary or matching hues for bathroom essentials such as towels, washcloths and a shower curtain, or stencil an easy, colorful border around the mirror or ceiling for an added pop of color.

Treat your bathroom like any other room in the house. Use framed postcards, vacation photos or pressed flowers to create inexpensive artwork to deck the walls. Consider repurposing other household items to give the bathroom a welcoming vibe, such as wine racks for rolled up towels.

he weather may not be as chilly in California or Florida as it is in New York or Wisconsin, but getting your home ready for a new season is still a good idea. Put these “winterizing” tips from MSN Real Estate on your to-do list.

Clean your gutters. Autumn leaves are pretty, but once they fall, they can reveal their ugly side — by contributing to clogged gutters. Neglecting your gutters can eventually cause water to seep into your home. Rid gutters of leaves and other debris by hand (be sure to wear thick gloves) or with a scraper and rinse with a powerful hose to ensure proper drainage.

Plug leaks. Avoid leaks from rain or snowstorms with a simple maneuver.

On a windy day, walk around the inside of your home with a lit incense stick or candle and hold it near commonly drafty areas — windows, door frames, electrical outlets — and apply caulk or other sealants to gaps.

For more protection against the elements, install storm windows or buy a window insulator kit (about $5 per window) for a cheaper fix.

Bundle up. Insulation, no matter where you live, is a necessity. Experts say that regardless of where you call home, attics should contain a minimum of 12 inches of insulation. Ensure that your insulation is adequate to help you avoid wasted money in heating or energy bills.

fast fact »

»»»»»»»»»»»

Although Thanksgiving is largely known as an American holiday, Canadians celebrate the same holiday on the second Monday in October.

B R O U G H T T O Y O U B Y Y O U R A G E N T, A M E M B E R O F T H E C O U N C I L O F R E S I D E N T I A L S P E C I A L I S T S

T

Guest List

he holidays bring food, gifts, good times — and guests. Hosting houseguests can be joyful and stressful, but you can minimize the hassle with thoughtful planning and preparation.

Consider these tips from Real Simple and Woman’s Day. Get your house in order. Cut out any unnecessary drama by discussing — and approving — houseguests (who, how many and for how long) with your spouse and the rest of your household well before anyone arrives on your doorstep.

Next, ensure you have adequate space for the number of guests you’ll have.

Sleeping arrangements will be different depending on your guests’ situations. For example, young children may need to sleep in the same room as their parents, so you might want to provide a futon or air mattress.

Say Yes to CRS

REFERR VE

S! AL

I LO

Buying or selling a home can seem like an overwhelming task. But the right REALTOR® can make the process easier — and more profitable.

A Certified Residential Specialist (CRS), with years’ of experience and success, will help you make smart decisions in a fast-paced, complex and competitive marketplace.

To earn the CRS Designation, REALTORS® must demonstrate outstanding professional achievements — including high-volume sales — and pursue advanced training in areas such as finance, marketing and technology. They must also maintain membership in the NATIONAL ASSOCIATION OF REALTORS® and abide by its Code of Ethics.

Work with a REALTOR® who belongs in the top 4 percent in the nation. Contact a CRS today.

*

Do you know someone who is thinking about buying or selling a home?

Stock your kitchen. Avoid the stress of creating daytime meals on the fly by stashing a few easily defrosted dishes that guests can help themselves to throughout the day, such as lasagna or baked mac ’n’ cheese. And be sure to set a specific dinnertime so everyone can plan accordingly. For breakfast, opt for small baskets of muffins or bagels with jellies and butter, and keep a pot of hot coffee with ample supplies of cream and sugar so that guests can wake up and feed themselves at their own pace.

Don’t forget about it. Help your guests settle in by stocking up on the often-forgotten necessities, such as toothbrushes, travel-sized toothpaste and shower products, disposable razors and makeup-remover wipes. Equip each bedroom with extra linens, and add a scented candle or two to make rooms feel like a posh hotel.

DID YOU KNOW?

The U.S. Postal Service delivers more than 15 billion cards and packages between Thanksgiving and Christmas Eve.

Please mention my name.

This newsletter is for informational purposes only and should not be substituted for legal or financial advice.

If you are currently working with another real estate agent or broker, it is not a solicitation for business.

*

inside CRS S E A R C H C O U R S E O F F E R I N G S B Y C I T Y A N D S TAT E AT W W W. C R S . C O M

CRS Classroom Courses CRS classroom courses earn either eight credits (for 100-level, one-day courses) or 16 credits (for 200-level, two-day courses) toward the CRS Designation.

CRS courses listed below are from Nov. 14, 2012 to Feb. 15, 2013. For more upto-date listings, visit www.crs.com.

CRS 103 — Mastering Positive Change in Today’s World NOV. 15 RICHMOND, VA. Central Virginia CRS Chapter 804.422.5000 Instructor: Mark Given, CRS

Rich Buyer, Rich Seller, Part 2: A Luxury Marketing Idea Blitz

NOV. 14 – 15 NASSAU, BAHAMAS

DEC. 6 MIAMI

Bahamas Real Estate Association 242.356.4578 Instructor: Pat Zaby, CRS, CCIM

Miami Association of REALTORS® 214.485.3000 Instructor: Laurie Moore-Moore

Elective Courses

Turn It On Automatic – Serving Repeat and Referral Customers

Elective courses vary in length and credits earned toward the CRS Designation. Please visit the CRS website for details.

NOV. 14 JACKSONVILLE, N.C.

It’s a Price War to the Door

Jacksonville Board of REALTORS® 910.347.6556 Instructor: Gee Dunsten, CRS

NOV. 29 NORTHBROOK, ILL.

NOV. 19 OKLAHOMA CITY

Northshore-Barrington Association of REALTORS® 847.480.7177 Instructor: Jackie Leavenworth, CRS Negotiations: The Games People Play

NOV. 30 NORTHBROOK, ILL.

DEC. 3 BIRMINGHAM, ALA.

Oklahoma City Metro Association of REALTORS® 405.840.1493 Instructor: Pat Zaby, CRS, CCIM Note: Instructors listed on all courses are subject to change.

Northshore-Barrington Association of REALTORS® 847.480.7177 Instructor: Jackie Leavenworth, CRS

Alabama CRS Chapter 251.533.3572 Instructor: Chuck Bode, CRS

CRS 200 — Business Planning and Marketing NOV. 27 – 28 DALLAS Metro Texas Association of REALTORS 214.540.2751 Instructor: Mark Porter, CRS

®

NOV. 28 – 29 CHARLESTON, S.C. South Carolina CRS Chapter 803.798.5560 Instructor: Chandra Hall, CRS

NOV. 29 – 30 BELLEVUE, WASH. Washington CRS Chapter 866.556.5277 Instructor: Ed Hatch, CRS, CRB

CRS 201 — Listing Course DEC. 11 – 12 AKRON, OHIO Ohio CRS Chapter 330.434.6677 Instructor: Jackie Leavenworth, CRS

FEB. 12 – 13 JACKSONVILLE, N.C. Jacksonville Board of REALTORS® 910.347.6556 Instructor: Gee Dunsten, CRS

CRS 206 — Technology Course

New Negotiating Edge … Getting Past NO!

DEC. 10 MALVERN, PA. Suburban West REALTORS® Association 866.495.7972 Instructor: Ed Hatch, CRS, CRB The New Negotiating Edge … A 5-Step Behavioral Model

DEC. 7 WARWICK, R.I. Rhode Island CRS Chapter 401.274.8383 Instructor: Ed Hatch, CRS, CRB Ninja Selling Business Systems

NOV. 14 SIOUX FALLS, S.D. REALTORS® Association of the Sioux Empire 605.334.4752 Instructor: Michael Selvaggio, CRS, CCIM Rich Buyer, Rich Seller, Part 1: Positioning and Branding Yourself as a Luxury Market Expert

DEC. 5 MIAMI Miami Association of REALTORS® 214.485.3000 Instructor: Laurie Moore-Moore

www.crs.com | 4 5

CRS REFERRAL MARKETPLACE

EAST COAST

New York’s Tech Valley & Capital Region

Your referral source for the greater

Pittsburgh

ABR, CRS, SRES, GRI, CDPE

area

Albany, Saratoga & Schenectady Counties David M. Phaff, ABR, CRS, e-Pro, GRI, CSP O: 518 464-1600 C/T: 518 469-8984 David@DavidPhaff.com www.DavidPhaff.com

I help clients make the Wright move Nancy Wright, ABR, CRS, GRI

RE/MAX Realty Brokers 5608 Wilkins Ave. Pittsburgh, PA 15217 OFS: 412-521-1000 x170 CELL: 412-508-0040 nancywright@remax.net

Serving Northern Virginia and the Dulles Tech corridor

Offices in Ashburn, Leesburg and Sterling Re/Max Select Properties, Inc.

703-999-6535 lisacromwell@remax.net www.LisaCromwell.com

SOUTH NAPLES, BONITA SPRINGS, ESTERO, FT MYERS—FLORIDA

Lance Jason CRS, GRI, e-Pro, SRES Phone: 561-290-9866 Lance613@comcast.net

Marie Pimm,

P.A.

Realtor—CRS, CIPS, e-PRO, GRI

(239) 770-3383

Marie@MariePimm.com www.MariePimm.com

www.NaplesBonitaEsteroHomefinder.com

Serving the needs of the baby boomer community.

SOUTH FLORIDA Serving Fort Lauderdale & the Palm Beaches “Dr. Short Sale”

Ray Singhal, Ph.D Past President of MN CRS

(954) 770-8083 SinghalFlorida.com Ray@SinghalFlorida.com Wieder Realty, Inc. CRS, GRI, CDPE, ABR, SRES, SFR, CSSP, E-Pro

46 | November/December 2012

BUILD REFERRALS

to your region from more than 36,000 CRS Designees and members with an ad in the Referral Marketplace.

Limited Space Available First Come, First Served Ask us about multi-issue discounts

Just call Andrea Katz at 202.721.1482

H AWA I I

WEST COAST

SOUTHERN CALIFORNIA TEMECULA – MURRIETA RIVERSIDE & ORANGE COUNTIES “Everyone Likes Sara Lee!” SARA LEE PAULL CRS, SRES,e-PRO

Broker Associate (#00547900) Cell: 951-970-5211 Direct: 951-461-4611 saralee@saraleepaull.com saraleepaull@verizon.net www.saraleepaull.com

Real Estate

CANADA

BUILD REFERRALS

to your region from more than 36,000 CRS Designees and members with an ad in the Referral Marketplace.

Limited Space Available First Come, First Served Ask us about multi-issue discounts

Just call Andrea Katz at 202.721.1482 RESOURCES • November/December 2012

residential The

Specia li s t

The Big Squeeze

Joy Snyder, CRS, Prudential PenFed Realty, Joy@JoySnyder.com

Glen Kelly, CRS, Crossroads Realty, glenekelly@aol.com

Rita Driver, CRS, All Stars Realty, Ritadriver1@gmail.com

Brenda Stone, CRS, Stone Realty Services with Keller Williams Realty, brendarstone@aol.com

Gary Lanham, CRS, Lanham & Associates, Inc., gary@ lanhamassociates.com

Betty Kerr, CRS, Keller Williams Realty, BettyDKerr@gmail.com

Turnaround Time

Net Work

Kerri C. Callidora, CRS, Ventana Fine Properties, kerric@ ventanafineproperties.com

Steve Goddard, CRS, RE/MAX Beach Cities Realty, steve@stevegoddard.com

Kimberly Cameron, CRS, RE/MAX Properties West, Kimberly@stlagent.com

This Way Up? Perry Goldman, CRS, Westchester Condos and Co-ops, realtorrg@aol.com Jim Larson, CRS, a broker with Keller Williams Realty Premier Properties, condojim@gmail.com

Leslie Healy, CRS, and Matt Healy, CRS, San Angelo Homes, REALTORS®, info@sanangelohomes. com

Geri Kenyon, CRS, Kenyon Real Estate, geri@gerikenyon.com Gary Rogers, CRS, ABR, of RE/MAX On The Charles, GRogers@remax.net

w w w. c r s . c o m

www.crs.com | 4 7

Ask a CRS | Advice from the country’s top Certified Residential Specialists

short stuff Q U ESTIO N : How is the short-sale market performing in your area? What is your experience working with them?

IN OUR EXPERIEN C E . . .

“IN THE Austin market, there are short sales but not an overabundance.

My buyer clients are stepped through the process so they understand upfront that the process can be long, drawn out and frustrating, with no definite timeline for closing. I have been fortunate that none of my homeowner clients have needed to go that route.”

Elaine Byrne, CRS Elaine Byrne Realty

“CLEVEland, Ohio, is a really big market. I have five in escrow right now and two short sale listings! If I didn’t do these, I couldn’t survive our market.

Yes, they are horribly painful, but I feel like I am helping these people out. Plus this helps our housing market because values don’t decline as badly since these homes are occupied until closing. They are better now compared to three years ago.”

“I WON’T touch them with a 10-foot pole. Of course, here in Texas we don’t have that many, and there are agents who specialize in foreclosures and short sales.

They must be saints.”

Lane Mabray, CRS RE/MAX Westside REALTORS® Houston

office@lane2houston.com

Austin, Texas

Elaine_Byrne@yahoo.com

Sandy Maline, CRS The Advantage Real Estate Inc. Avon Lake, Ohio

SandyMaline@gmail.com

»»»»»

Please submit real estate questions for “Ask a CRS” to Mike Fenner at mfenner@crs.com.

48 | November/December 2012