Ever wonder why now more than ever top agents are pushing the fact that being on many different websites? The growing use of computers and the Internet plus the fact that not just the younger population but even older adults are using the Internet to shop these days. I have added a recent survey results pertaining to this subject which should make all sellers ask the question; what and where is my agent listing my home? All sellers should be evaluating their listing and asking their agent for documentation to show how they are advertising versus other agents/companies. If you are considering listing your home then don’t wait till after the contracts are signed to ask the important questions about marketing. If the agents you are considering are not putting their marketing plan in writing then this should be a red flag. You should be able to review all the agents marketing plans in detail side by side so you can properly make a more educated decision on the agent you choose.

If you are buying a home you should not expect anything less either. Real estate technology today has evolved into some of the best communicating tools which make the buying process easier and more convenient than ever. New tools available are immediate text message info on listings or property listings which are designed for viewing on mobile phones specifically.

Enjoy the article and please don’t hesitate to contact me with any questions or comments.

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88% of Public Use Web Sites as Primary Source for Real Estate Information

RISMEDIA, Nov. 27, 2007-A new survey finds that 88% of public rely on Web sites as their primary source for the latest real state news and information, with newspapers coming in a distant second at 12%. The poll reinforces the results of a study earlier this month by the National Association of REALTORS(R) concerning the use of the Internet to buy or sell homes.

The latest survey was commissioned by Edward Segal, author of Profit by Publicity (iUniverse, 2007), a how-to PR guide for the real estate industry.

A study released on Nov. 13 by the National Association of REALTORS (R) (NAR) shows a similar reliance on Web sites by people looking to buy or sell residential real estate. According to the 2007 NAR Profile of Home Buyers and Sellers, 84% of recent home buyers used the Internet in their search, up from 80% in 2006.

Segal observed that, “Web sites represent the new level playing fields for real estate agents and brokers who want to promote themselves or their properties. Although real estate professionals know how to promote listings, this latest poll shows that it is essential they also know how to promote themselves to the media.”

The telephone poll of 1,000 adults was conducted Nov. 9-11, 2007 by Synovate, and has a margin of error of plus or minus four percent.

This is the third in a series of surveys Segal is conducting on media-related issues. For more information about the book, go to [1] http://www.ProfitByPublicity.com.

Segal is the CEO and communications director of the 1,700-member Marin Association of REALTORS(R), former marketing strategies columnist for The Wall Street Journal’s StartupJournal.com, senior media relations consultant to Ogilvy Public Relations Worldwide, and a PR consultant who generated thousands of stories about hundreds of clients. He is a former press secretary to members of Congress and campaign aide to congressional and presidential candidates.

I have copied portions of a recent Commentary wrote by Scott Einbinder for RIS Media Real Estate News. This article represents concerns which ever consumer should understand when they are interviewing real estate agents to help them buy or sell real estate. The point of the article is to understand that being the #1 company or agent in a certain area or having a full page ad in the Sunday real estate section doesn’t mean that as a consumer you will get the professional representation you should expect. There is more to the transaction than an ad or Sunday open house. Experience, education, knowledge of the real estate market and results should be the foundation of your decision. You wouldn’t choose a doctor who only sees two to three patients a year now would you?  Or hire a attorney who practices law on the side for extra money?

When considering hiring an agent first look at their market analysis, how much work went into preparing the market analysis, how much information about the homes directly related to yours does the agent provide?

Next look at their marketing plan, does it give you an actual plan of how they will market the home? Do they show you all the details of what they will do above and beyond the typical competitor, how about the “whys” of pricing, what about company bio and agent bio with experience? Has the agent given you the honest truth of what to expect which may be shortfalls of your property or point out items which may be code violations or what to expect from an appraiser from a offer with FHA or VA financing?

These two plans working together with the agents experience will produce results. The market has changed, has your agents plan changed? Gone are the days of sticking a sign in the yard and waiting for a buyer to come along. When a buyer does come along is the agent prepared to negotiate the proper contract with terms which are in your best interest.

Please read on and understand that you the consumer have a right to ask hard questions and expect and honest answer! Don’t be afraid to ask “are there any issues or concerns with my home which buyers or inspectors may take issue with”? If they do not give you an honest answer about the “pink” 1970’s carpeting then how can you expect to get an honest representative in one of the biggest and most stressful transactions of your life?

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Commentary by Scott Einbinder

RISMEDIA, Oct. 29, 2007-The demise of the discount firm Foxtons will hopefully be a lesson to the entire real estate industry. The lesson is that millions of dollars of capital, first-class marketing campaigns and an award-winning Web site is no guarantee toward success if the truth does not prevail. The truth of our industry needs to be that our actions, our focus, our purpose and our intent is to put the client and customer first and ourselves second.

The press has publicized the end of this discounter, yet what the press does not realize is that many more traditional real estate entities file bankruptcy or are on the brink of it everyday. In fact, hundreds-if not thousands-of these entities are in this very vulnerable position. The entities I am referring to are the thousands of agents who are leaving the business or who are on the edge of quitting. This does not get the same level of publicity; however, it has never been truer. Each agent is an independent business that runs on many of the same principals as any firm that places its interests first over that of the customer. These agents are little real estate firms within larger ones, and if continued on the same path, will share the same fate as Foxtons.

I travel the country speaking to real estate firms about defining value and providing truth; to stop the smoke-and-mirror show and raise the bar of what we provide the real estate consumer. And what is the truth I refer to?

The truth that our value proposition to the industry needs to stop focusing on ancient concepts like marketing plans, advertising gimmicks, open houses and misleading personal awards. Almost every listing presentation I evaluate is dominated by the company’s marketing plan and advertising strategy and personal agent success.

We show these features to a seller with the hope that they will believe it works. With the hope that this concept of “exposure” will convince them that our value somehow has a relationship to our marketing and advertising strategy. Yet every real estate professional reading this article knows all too well that the old open house and classified ad is not there to sell the home. It is not there to accomplish our objective of exceeding our clients expectations. It is there to benefit us.

We use open houses like satellite offices to get buyer prospects. I cringe when I hear agents say, “The only benefit I have to this high-priced listing is that I can get some buyers at an open house.” I ask, “Does your seller know how you feel?” and then I see that uncomfortable smile appear on the agents face.

We run classified ads to make the seller think we are investing money in our advertising campaign. I see pages and pages of these silly ads and I wonder, “Was the agent laughing when they wrote that?” Can we come up with more than “cute,” “gorgeous,” “spacious,” “lovely” and “charming” to describe the home?

Yet the truth-the unvarnished truth-is that this is exactly why we are not authentic to the public. This example runs through the veins of our industry and we wonder why companies and agents “go under” or have a tough time maintaining premium commissions.

The leadership of our industry must step up and stop holding on to fiction and side agendas and demand their brokers and agents be authentic. I speak to agents every day who still believe their marketing and advertising plan sells houses, yet inventory levels have never been higher of unsold listings. Is it because you did not deploy your marketing strategy or does it have something to do with the inability to price and position the house correctly? Is your listing not selling because the three open houses you had did not draw enough people, or is it because 90% of the homes similar to your listing are on the market for less money that yours? Is it because you did not stage the home correctly filling it with candles and flowers, or because you were afraid to speak to the homeowner about a price reduction?

The essence of our business must circle around client and customer benefit. As leaders we must demand our agents understand that value is derived from the ability to understand merchandising of real estate, having a clear strategy of contract negotiations, acute knowledge of financial and mortgage aspects, and an effective transaction management and risk mitigation protocol. This is what our industry is. This is where the firms that are winning are moving. This is truth.

I marvel at the Sunday paper. I see half- and full-page ads that cost brokers thousands of dollars to “promote listings” and “promote agents.” Ads are run that say, “Congratulations Jim,” like anyone but Jim even cares. However, I sit in those same offices listening to agents complain that their deal is in trouble because of a home inspection dispute that will “kill their deal.” I ask, “Why did this agent not order a home inspection the day after the listing was taken? Why did this agent not require the home seller to be proactive and preemptive to repair issues that will probably come up anyway?” Agents say to me, “Order an inspection before a contract? We don’t do that!” I ask, “Why not?”

The same office where beautiful four-color magazines with their listings and agents line every restaurant in town, is the same office where agents do not know how to read a title policy, or understand how to evaluate an LP/ or DU Finding, or understand how to assess the trend analysis of an appraisal. The office spends countless dollars on advertising but little resources on educating their associates.

The truth, the transparency, the authenticity is what will save our industry and the agent from further deterioration. It is the firms that have the courage to abandon the “tricks of the trade” and put the customer and client first.

Maybe, just maybe, we will see a full-page ad in the Sunday paper that has faces not of agents, but of happy customers. Face after face of people who were offered value and received it. Faces of people who were offered an expectation that was not only met but exceeded. Faces of people with smiles. Maybe if we stop placing ourselves on display and put the one who matters the most, the truth will be here to stay. In the end, the truth has no competition, and it value is priceless.

Scott Einbinder is a national sales trainer and motivational strategist to the real estate industry.

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I hope you have enjoyed the information and honesty of the article and this helps the next time you, your friend, coworker or relatives decide to purchase or sell real estate. 

Mortgage rates have fallen to lows not seen in five months, according to the latest weekly report from Freddie Mac. The average interest for 30-year fixed loans was 6.26 percent, compared to 6.33 percent a week ago; and this was the lowest level since rates averaged 6.21 percent during the week of May 17.

“Continued market concerns about weaker economic growth and further declines in the housing market have kept mortgage rates low over the last few weeks,” according to Frank Nothaft, chief economist at the mortgage finance giant.

Also, rates on 15-year fixed products fell to 5.91 percent from 5.99 percent last week; rates on five-year adjustable rate mortgages declined to 5.98 percent from 6.03 percent; and rates on one-year ARMs slipped to 5.57 percent from 5.66 percent a week ago.

Source: Chicago Sun-Times, Martin Crutsinger (11/02/07)