These are notes from a session at Keller Williams Family Reunion on February 24, 2009. The subject is buyer urgency in a buyer's market - where the number of properties for sale exceeds the number of buyers ready to buy.
1. There is a story at TaleofTwoMarkets.com that might be worth looking at when talking to buyers about the reality of a buyer's market. The fact is that - at least in today's market - there really are two separate markets. In one of them, 80% of the homes are overpriced. This is a sad state of affairs for sellers, finding themselves competing with distressed sales. But what it means is that there is demand for the 20% that are priced UNDER market.
2. Holding open house is a good way to meet buyers who are looking - though not every looker is a buyer. Inviting neighbors - by mailer or door knocking - is a good way to lead to a potential buyer. But a house that is priced under market will likely sell so fast that there won't be time to hold an open house.
3. In a buyer's market, first-time buyers may benefit from a seminar geared just for them. If you know - or are - a first-time buyer and are interested, give me a call and I'll set something up. 623.640.1219.
4. In a buyer consultation, the agent and the buyer need to explore what a "deal" looks like. It may not be the same to the buyer as to the agent - so get on the same page.
5. You can't blame a buyer for waiting for house prices to drop - but it is NOT FAIR to the buyer not to challenge that way of thinking. The fact is that nobody knows where house prices are going, or what houses will be on the market or what their condition will be. The person who can predict the b ottom is either a psychic or a liar. What we do know is that interest rates are the lowest they've been in 35 years - and a one point adjustment equals thousands of dollars in home price. If a buyer plans on being in the house for several years, buy now.
6. Buyer's remorse is normal - it is abnormal not to have second thoughts about one of the biggest purchases of your life. The trick is to keep your eyes on the prize. What motivates you to buy. How bad will you feel if somebody else buys "your" house?
Showing posts with label Keller Williams Family Reunion 2009. Show all posts
Showing posts with label Keller Williams Family Reunion 2009. Show all posts
Thursday, February 26, 2009
Seven Truths to Pave the Way to Success
Every now and then you have the opportunity to hear some really good thinking from somebody who knows what they are talking about and are willing to share. These notes come from an hour of listening to Gary Keller at the Keller Williams Family Reunion in Florida - February 25, 2009. His topic was being smart about money - but these truths go deeper than the pocketbook. Enjoy.
1. I am my own advocate. I am not entitled to have somebody take care of me, and I cannot depend on somebody to take care of me. It is my job to do whatever it is that needs doing to bring about a good result.
2. I do NOT need to understand everything. It is okay that I am not a genius. If I find a model that works, I don't need to analyze it, and I don't need to like it, but I DO need to follow it! Suspend your need to understand. Sometimes we are better off not thinking - okay, at least we're better off not thinking too much. Find someone who has what you want and follow what they do.
3. There is nothing virtuous about putting in long hours. Intensity is of more value than the amount of time you bring to the task. Bring the heat!
4. Multi-tasking does NOT work for humans. People are not computers. It is impossible for people to do two important things at once. And it is just plain smart to do one thing at a time and do it well.
5. I am not self-made. Nobody succeeds alone. It takes a team to make me better than I am. Listen. Learn. Be better. You only need to control the relationships that are three feet around you.
6. Not everything matters equally. Prioritize. You will never get everything done. So get the RIGHT THING done.
7. You can fail your way to success. Plans need to be corrected. It takes only a little energy to solve a little problem. Solving big problems creates BIG energy that propels you forward. Never give up. It would be a shame to quit on the brink of success.
1. I am my own advocate. I am not entitled to have somebody take care of me, and I cannot depend on somebody to take care of me. It is my job to do whatever it is that needs doing to bring about a good result.
2. I do NOT need to understand everything. It is okay that I am not a genius. If I find a model that works, I don't need to analyze it, and I don't need to like it, but I DO need to follow it! Suspend your need to understand. Sometimes we are better off not thinking - okay, at least we're better off not thinking too much. Find someone who has what you want and follow what they do.
3. There is nothing virtuous about putting in long hours. Intensity is of more value than the amount of time you bring to the task. Bring the heat!
4. Multi-tasking does NOT work for humans. People are not computers. It is impossible for people to do two important things at once. And it is just plain smart to do one thing at a time and do it well.
5. I am not self-made. Nobody succeeds alone. It takes a team to make me better than I am. Listen. Learn. Be better. You only need to control the relationships that are three feet around you.
6. Not everything matters equally. Prioritize. You will never get everything done. So get the RIGHT THING done.
7. You can fail your way to success. Plans need to be corrected. It takes only a little energy to solve a little problem. Solving big problems creates BIG energy that propels you forward. Never give up. It would be a shame to quit on the brink of success.
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