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IN THIS ISSUE:
- A Message From Jason Kane
- Whatever Happened To Testimonials?
- East Coast Real Estate Sales
- Bush Says Mortgage Reduction To Stay
Dear Friends,
Spring is rapidly approaching,
and I am sure that you are as excited as I am. We are looking
forward to a dramatic increase in volume, as sales and refinances
should be picking up.
Hopefully the time all of us have spent establishing new relationships
and solidifying existing relationships will prove positive.
As always, I welcome all of your
comments. Please don't hesitate to contact me if I can assist you
in any manner.
Sincerely,
Jason S. Kane, Esq.
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Last Months Trivia:
What was the first land designated by the US Government as a
National Park?
Answer: Yellowstone.
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by Walter Sanford, Speaker,
Trainer, Coach.
As you know, third party
endorsements really can be a valuable tool to help you build
credibility and value in a competitive real estate market place.
Remember that you have to have lead-generation tools in place,
implement them, prepare a CMA, and make presentations. With all
that, if you don’t get the listing you can lose thousands of
dollars. Getting the signature on the listing requires the seller
feeling comfortable with you.
Testimonials are someone else
saying you are good at what you do. This becomes the truth when
someone else says it! Having endorsements in writing makes this
tool even more valuable and when presented in the pre-listing
confirmation package, on your website, or emails, it provides the
necessary impetus to push you over the top.
If you serve your customers well,
a few will send you letters or emails every now and then, but you
can be pro-active in your sales efforts by learning to ask for
letters by saying, “Would you be willing to find a couple of
minutes to put what you just said to me in writing and send it to
me on your letterhead?”
Seldom, will anyone refuse to
write such a letter, however, getting them to follow through on
that agreement is another issue. If you just leave it at that
simple request you get a small percent of the letters promised.
People don’t mean to break their word, they are just busy. So to
keep the process going, send them a note thanking them for their
kind words and thanking them “in advance” for the letter they
will be sending. This is a subtle reminder to keep their word.
If you haven’t received the
letter within a month or so and especially if this particular
person is an influential person, call him or her on the phone. The
client often brings up the letter first and apologizes for not
getting it out to you yet.
Say, “That’s OK. I know you
are really busy. Here’s an idea. Would it be helpful if I put a
few thoughts on paper for you? You can edit or rewrite all you
like and then send it to me on your letterhead, OK?” People
usually agree to this. I have collected dozens of letters this
way. You may feel this is a very gutsy question to ask, and
perhaps it is, but seldom does anyone refuse. These letters are
your future!
The letters customers write
themselves are usually better than yours, so resort to helping
them only when it’s a letter you really want and they are
dragging their feet. Remember, always work off a closing
checklist. Mine requires that I receive a testimonial letter
before I can put the file away. Let me say that again: You cannot
take the file off your desk until you receive a testimonial letter
or email! There are a few things I like to include in a
testimonial letter and these are some of the most important
points. You might want to even give your seller a primer on how to
write a testimonial letter. This really may be going the extra
mile. It always worked for me. Here is mine:
Dear Mr. / Mrs. Johnson,
Thank you once again for putting
your thoughts in writing about our business relationship. In the
past, some of the best testimonial letters I have received include
some of the following points. One of the greatest favors you could
do for me would include some of these points. Please remember, the
most difficult task I have in this business is replacing clients
such as yourself.
1. Please outline the
nature of the challenge or problem you had prior to your meeting
me.
2. How professional and
effective was my presentation of options?
3. Could you discuss your
satisfaction with me and my team?
4. How easy and pleasant
is it for you to work with me and my team members?
5. Do you have any present
plans for further or ongoing use of my realty services?
6. Could you please
explain the high value, appropriateness or importance of any
insights that I might have brought to light at our meetings?
Thank you so much for your help.
I can’t tell you what your endorsement will do for my business?
Sincerely,
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Home sales in North Carolina
posted double-digit growth for the 13th straight month in January,
while sales in Massachusetts reported their weakest January in 10
years, according to Realtor associations in both states.
Existing-home sales in North
Carolina totaled 8,399 in January, showing a 13 percent increase
from sales recorded a year earlier, according to statistics
compiled by the North Carolina Association of Realtors.
The state's average existing-home
sales price was up 4 percent to $206,788.
Areas of North Carolina with the
strongest sales growth include Brevard (141 percent), Goldsboro
(59 percent), the Triad (41 percent), Jacksonville (39 percent)
and Greenville (38 percent). Additionally, several areas of the
state experienced high levels of price appreciation including the
Triad and Asheville at 20 percent, Fayetteville at 19 percent and
Goldsboro at 18 percent.
In Massachusetts, the
once-red-hot housing market showed further signs of returning to
normal in January as sales of detached single-family homes fell to
their lowest January level in 10 years, sliding 21 percent from
2,968 homes sold in January 2005 to 2,345 in the same month this
year. The last time there were fewer January sales was 1996 when
2,332 homes sold.
In addition, condominium sales
improved a modest 2.5 percent over the past 12 months - the
second-smallest gain in year-to-year sales activity in the past 12
months. Still, the sales gain was enough to set a new monthly
record, as sales climbed to a new all-time high of 1,281 from the
old record of 1,250 units sold in January 2005.
In fact, the statewide median
selling price for detached single-family homes decreased 2.4
percent in January, falling from $354,000 in December 2005 to
$345,500 in January 2006, while the statewide median selling price
for condos dipped 1.8 percent, from $275,000 in December to
$270,000 during January.
January's more moderate prices
reflect a sharp increase in inventory levels over the past year,
MAR reported. Collectively, active listings for detached
single-family homes and condominiums have increased 41 percent
since last January, from 36,168 homes and condos for sale in
January 2005 to 51,122 units for sale this past January.
"For the last few years,
buyers often outnumbered the supply of homes for sale allowing
prices to escalate rapidly, but that's no longer the case,"
said MAR President David Wluka, of Wluka Real Estate in Sharon.
"As we return to a more normal market, we expect prices to
stabilize, which should be welcome news to buyers and good for the
long-term health of the housing market."
Source: Inman News
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President Bush rejected the idea
of any change in the US tax code that would eliminate the
deduction for mortgage interest. During a question-and-answer
session in Florida, Bush was urged by a homeowner to make sure
that housing remains affordable.
''Maybe you're hinting at whether
or not the mortgage deduction would be part of a plan," Bush
responded. ''I don't think you have to worry about the mortgage
deduction not being a part of the income tax law."
A panel appointed by Bush last
year recommended reducing the tax deduction for mortgage interest
as part of a larger plan to simplify the tax code. Bush, who has
called the tax code a complicated mess, is having the Treasury
Department review the panel's recommendations.
The president made his comment
during a one-day visit to Florida that included a speech to rally
support for his efforts in Iraq at the Port of Tampa before an
invited audience. Before that address, Bush got an update on the
war on terror in an hour-long briefing at the US Central Command
at MacDill Air Force Base, which oversees forces in Iraq and
Afghanistan.
The White House, which had
considered rolling out a plan this year on tax simplification, has
delayed that idea. Some Republicans have said some of the
recommendations from the panel, such as the one on mortgage
interest, might generate too much controversy, especially in the
current congressional election year.
Referring to concerns a builder
had raised about interest rates, Bush said, ''You'll be happy to
hear I don't set interest rates." He went on
to praise new Federal Reserve chairman Ben Bernanke. However, he
added, ''If I were you I'd be worried about interest rates."
Source: Globe Newspaper Company
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