Linda Hutchins
President, LMH Realty
Q. What are some of the ways sales managers can keep their sales force motivated and empowered to seek and secure residential home sales during a typically challenging time of the year?
A. Managers need to tell their agents to not look at the calendar and avoid any preconceived notions as to whether this is a good time of year or not. In fact, builders are more eager to sell inventory homes before year’s end, thereby providing buyers with good incentives. Buyers need to purchase before year’s end in order to qualify for homestead exemption.
Q. Should Realtors and builders look at “re-branding” themselves to promote a fresh start for the new year?
A. Only if they are doing something different and have a new message to convey. Otherwise, it can be confusing to buyers and they might not recognize the Realtor or builder. Name recognition is very important in a competitive market and as the saying goes “if it ain’t broke, don’t fix it.”
Q. With an increase in rentals and reduction in mortgage rates, should Realtors and site agents put a focus on the rental community? What are some of the ways to reach this group of potential buyers?
A. Rental housing is in more demand now for those who cannot buy due to former short sales and foreclosures. This demand is a great opportunity for investors to purchase and have a positive cash flow. For those who can buy, however, the combination of record low interest rates and great prices makes owning much more affordable than renting.
Q. How are mortgage companies helping or hindering the purchase of a new home?
A. Interest rates are low and there are some great new programs available through the mortgage companies that provide down payment assistance to buyers. Government regulations have slowed down the lending approval process and agents should prepare their buyers and sellers with the right timing expectations. One lender told me that only 10 percent of all loans today are approved within 45 days.
Q. Any last tips to help agents start 2012 off with a bang?
A. Stay positive and focused. Set goals and review them frequently. Be creative. Take lessons from the past to improve your future. And be open to change, not resistant to it.
Audrey Richie Lackie
Vice President/Broker, Watson Realty Corp.
Q. What are some of the ways sales managers can keep their sales force motivated and empowered to seek and secure residential home sales during a typically challenging time of the year?
A. Support is key. You need to have personal support as well as professional support. There is so much multi-tasking in our industry sometimes we tend to multi-task ourselves into disorganization. Assist your associates with systems. Make your workplace a welcoming environment. Your associates should love walking through the front doors of their respective offices or new home sales centers. It can be rough out there at times and the sales manager can make or break the attitude of their associates. Most of all, in this economic climate, show them how much you care by your actions. Keep them updated on changes and provide training or make sure they have access to additional training especially in the REO, short sale and foreclosure transactions.
Q. Should Realtors and builders look at “re-branding” themselves to promote a fresh start for the new year?
A. Rebranding is a process to gain a newer customer base, it isn’t something that is done in one or two months. I believe that in order to re-brand yourself or your company you need to provide a new look, a new attitude and better services. Most people look at branding as changing their marketing logo or the look of their materials, but that is only a part of rebranding. You also have to change what is behind the new visual. If you don’t, you’re not changing the perception and the consumer gets the “same old thing” and generally the “same old results”. You have to be innovative and have a new approach to the way you deliver and provide your services.
Q. With an increase in rentals and reduction in mortgage rates, should Realtors and site agents put a focus on the rental community? What are some of the ways to reach this group of potential buyers?
A. Absolutely, you should always look at ways to convert rentals. Homeownership is the American dream. I can’t imagine anyone not wanting to own their own home, they may be out there but in my 27 years I’ve never met one.
Q. How are mortgage companies helping or hindering the purchase of a new home?
A. With record breaking low interest rates and the increased requirements for qualified mortgage brokers to serve the public, consumers are now able to not only take advantage of the fantastic rates but also feel more comfortable with the knowledge that the mortgage brokers today are more knowledgeable, credentialed and accountable. The bottom line, the consumers can feel there is once again reason to rely on the advice these brokers are providing since they are now on the hook for the loans they approve. We may need more documentation but it is to protect the consumer in the long run.
Q. Any last tips to help agents start 2012 off with a bang?
A. Start a plan today even if you have never put together a plan. At least put down a few things that you want to accomplish and some of the strategies and tactics to help you to achieve your plan. Make sure that you include a personal touch, we tend to forget about the basics, a phone call, face to face and personal notes. In today’s world of emails, texting, websites, social media, adding those few items that seems in years past will put you a notch above the rest.