Marke Center Newsletter for the Week Ending April 27, 2009

Quote: “A man (woman) to carry on a successful business must have imagination. He (she) must see things as in a vision, a dream of the whole thing.” Charles M Schwab. I also like what Michael Gerber suggested in his book The E-Myth Revisted, “Think with the end in mind; what will your business look like when it is finished?” Once you know the answer to that question, you can work backward to where you are right now seeing very vividly what you must do today and tomorrow to achieve what you want to create the business and life you envision. Now that is some heavy stuff!

NEW NUGGET: Check out the latest Nugget For The Noggin posted at http://www.nuggetsforthenoggin.com/. This one is on “Customer Dis-Service”; hopefully it does not apply to you.

Check out our own Byron Belew’s internet game puzzle at:
http://www.divgame.com/

DON’T JUDGE A BOOK BY its COVER: This is truly a remarkable 7 minute video that everyone ought to watch. Think about how we all have at one time or another pre-judged someone before we got to know them. MAKE SURE YOU GIVE IT TIME TO LOAD TO SEE IT ALL WITHOUT INTERRUPTION.
http://www.sonnyradio.com/susanboyle.html

PRICING TECHNIQUE THAT WORKED WELL FOR ME. “Mr. & Mrs. Seller, I have a selling price that I calculated based upon what the market would indicate to be its sales value. I have it in this sealed envelope. You said you wanted me to tell you the truth, not necessarily what you wanted to hear, correct? With that in mind, I have carefully analyzed your home and compared it to the current real estate market. The reason I am not showing you my final result is that I want you to know that my market value has not been influenced by what I think you may want from the sale of your home. I do not set the sales price; that is something you must do after you have reviewed all the details of the current market. I have those details for you to review, will that be okay?”

Then after you review your market statistics and their home, you ask, “Having seen what has recently sold and what is currently on the market, where do you see your home fitting in amongst your competition?” Then shut up. If you presented your material correctly, the home owner will usually come to the same conclusion that you have; if you presented it correctly. You then ask each owner to write their market price on a separate slip of paper not showing the other owner their price. It gets to be fun when you can look at the two prices and then say, “Well……two of us got it right!” Even better if all three agree. If your market price is significantly different, you know you have more work to teach the owners how the market really works. I have never found that both owners are way out of line with my number.

What is the difference between sales trump and Donald Trump? Click here to find out and if you apply the principle, you may very well reap the rewards of being different. http://www.gitomer.com/articles/ViewPublicArticle.html?key=ajcdMibak3OTs7kejz3jdQ%3D%3D

MASTER’S TRIP UPDATE: What a week, it was the best of times and it was the worst of times. The Augusta National Golf Club was everything that you may have ever heard – magnificent! The trip was a once-in-a-lifetime event. Unfortunately just 20 miles west of Augusta, on our way home, my truck just stopped working. It was towed to the dealer who had no idea what was causing the problem. Had to rent a car to return to Slidell to bring my two guests home and then returned to Augusta with the “hope” that it would be fixed yesterday (Wednesday). It was not ready until Thursday morning, I picked it up and drove it home today (Thursday). Can’t say I was not worried that they found out what the problem was and actually fixed it. It turned out to be two completely clogged catalytic converters. It was like putting a potato in an exhaust pipe and killed the engine. Glad that is over. Don’t even ask what the final cost was – would have been cheaper to buy a used car.

BROKER BIT: One of the best scripts that Keller Williams teaches relates to expectations; the expectations of the customer and your expectations. The script goes like this. “Mr. & Mrs. Buyer (or Seller), it has been my experience that problems arise when expectations differ. What do you have a right to expect from me?” Then let them tell you. This is also YOUR time to tell them how you work and what you expect of them. “Great! Let me explain what I believe I have a right to expect from you.” Then tell them

Now for the reason I explain this. There was an occasion where one of our team mates had the opportunity to sell their own listing – a dual agent. The listing was a residential building that had been rezoned to commercial. Therefore this was a commercial listing and sale. The agent explained to the buyer that (1) the buyer could select a different agent to represent him, (2) that the agent was in fact a distant relative of the owner, (3) that since the buyer was going to open a business that he needed to conduct his due diligence and (4), an extension was granted to conduct the due diligence.

Here is the problem. What does a commercial buyer “expect” from his or her agent? Is it a case of finding a property or does it also include researching the zoning, permitting procedures, business license requirements, variances, Americans With Disability Act and how it applies to the property, etc, etc, etc. In this case, there were some issues regarding opening the business on the site after the property had closed. You must ask questions of your buyers and sellers but more importantly identify their expectations and exactly what they desire you to do or not do. This is essential in commercial sales as compared to residential sales. Some commercial buyers have complete teams that go into action to make certain that everything is as it needs to be. Other buyers rely totally or partially on their agent. There is only one way to know – you must ask the right questions.

NEWLY ADDED INFORMATION - TIME SENSITIVE TRAINING DATES INCLUDED

QUOTE: “Management is a job description; what you DO. Leadership is a life decision; who you ARE. A boss can make you a manager; only YOU can make YOU a leader.” Joe Tye

BROKER BIT: SHOULD BE MANDATORY READING! Who is LIABLE for the square footage on a listing and on an Agreement to Purchase? The following link is an extremely information report on the subject provided by our Louisiana Realtors Association. A word to the wise should be sufficient. There is a link to a Colorado form regarding a square footage disclaimer but I was unable to get the link to work. http://www.larealtors.org/legal/redstick.asp

COOL WEB SITE: WWW.STUMBLEUPON.COM. You register your contact info and also your various subject interests and then this site finds web sites you may be interested in. I have been playing with the site, it has some interesting links as promised.

COMMERCIAL DEVELOPMENT CONFERENCE: Louisiana REALTORS will conduct its annual Commercial Development Conference on Thursday, August 27, 2009 in Lafayette. This full day of industry information and education is the state association's top event geared specifically toward commercial practitioners. Details will be added soon. For more information, please contact Kevin Calbert at 800-266-8538. For updates go to http://www.larealtors.org/meetings/commercial/default.asp

COMMERCIAL REAL ESTATE SALES PLUNGE: Interesting report but remember real estate is a “local market” industry and what may appear to apply “world-wide” may not be happening locally. http://www.bizjournals.com/sanjose/stories/2009/04/13/daily94.html

JUST SO YOU KNOW; BOARD MEMBERSHIP. I am a broker member of both NABOR (The Northshore Board) and NOMAR (The Southshore Board) and as such you have the option of joining either Board or both Boards; just so you know.

NAR QUADRENNIAL ETHICS TRAINING. The Third Cycle Quad Training is now available on www.Realtor.org. The training is online and it is free. You must either take it locally in person or on line prior to December 31, 2012. My advice, take it early and then you don’t have to worry about it besides the training would be good for you.

TRAINING CERTIFICATE REMINDER. NABOR has asked that each of us send a copy of each completed training certificate to the Board Office. I have an envelope on my wall in my office in which I am storing up copies of such certificates that I will send in as a group. Please make certain that when you complete Continuing Education (CE) training that you provide the Market Center Administrator (Virginia) with a copy for the Market Center file and one for me, just put it in my mail box.

*****TOWNHALL FOR HOPE, HOSTED BY THE FINANCIAL GURU DAVE RAMSEY. www.townhallforhope.com. Mark your calendar for April 23 at 8:00 p.m. EDT! We are holding an exciting one-time national event called Town Hall for Hope, and you're invited! This is a nationally televised live event. Sonja Pace’s church in Lacombe is hosting it locally and Sonja has invited everyone to attend. “The address for my church is 30042 N. Dixie Ranch Rd. Lacombe, La. 70445. We are the new church off the Lacombe exit. If you go on this web site there are several churches hosting the event but of course I would love for anyone to visit with us. Thanks, Sonja”

*****Louisiana REALTORS® Town Hall Meeting: This is the return of the popular “in-region” Louisiana REALTORS® Town Hall Meetings. Our region meeting will be held, Thursday, April 30th at 2:00pm. It will be held at the NOMAR offices located at 3645 North I-10 Service Road, in Metairie, LA. LR will provide you with a Louisiana REALTORS® update, a legislative update, information on the timely topic of Social Media, and the issues to go before the Board of Directors at the Spring Business meeting in May. Please RSVP to Shelly Bateman at shelly@larealtors.org or 225-923-2210/ 1-800-266-8538

*****REAL ISSUES SPRING CONFERENCE, featuring Governor Bobby Jindal is to be held on May 5-7 in Baton Rouge. Discounted room rates expire APRIL 20TH, go to http://www.larealtors.org/meetings/spring/default.asp for more information and to make reservations.