Friday, December 28, 2012
Saturday, December 15, 2012
Thursday, November 15, 2012
Wednesday, November 14, 2012
Friday, November 9, 2012
Winning, Loosing and Starting Over…
By John
Mangas, Broker/Co-Owner RE/MAX
Preferred Toledo, Ohio
"Success is not final, failure is not fatal: it is
the courage to continue that counts." -Sir Winston Churchill
So on Tuesday another
election cycle ended. There were winners and losers’ but one thing that every
candidate had in common is that they all had to start over on Wednesday. And so
did each of us.
That isn’t really all
that different from what each of us experiences in the normal course of doing
business. None of us sign every listing appointment that we go on. Not every
buyer gets to the closing table. Simple facts of life, but very often we have
invested so much of ourselves in a buyer or seller that moving on can be a
challenge.
Setbacks are a very
normal part of life. What I have observed as a managing broker is that the most
successful agents prepare for success; they make a great listing presentation
or endeavor aggressively to get the buyer to the closing table. They focus on
the details and leave as little to chance as they can.
The best agents also
know that there are some clients who are too difficult to business with or have
circumstances that they simply cannot navigate through. Plain and simple, none
of us win every time. When most of us were children, we had a sibling,
relative, neighbor or friend that would twist an arm behind our back until we
said “uncle”. Sometimes we have clients that do the same. Recognizing that
early on and then letting go can save so much of your time, but more
importantly your energy and attitude. Most of us know the red flags when we see
them, and yet choose to ignore them.
Having the ability to
start over energized, excited and engaged can be a challenge, but as
professionals we have the ability to do exactly that. Knowing that there are
good people out there that need to buy and sell homes and appreciate the
expertise that we offer is what keeps many of us going. Embracing the win,
overcoming the loss and mustering the enthusiasm to openly greet the next
opportunity is how I approach things. None of us wins 100% of the time, but
allowing ourselves to move on after a defeat makes us winners!
Monday, October 29, 2012
Working IN the Business vs Working ON the Business
And upon occasion we all fall into the certain traps that are part
of being human. Let’s face it, sometimes we allow ourselves to take the easy
path and yet there are times when we are super motivated, organized and on our
A+ game. Why is that?
Psychologists tell us that the majority of us do the same 8
or 9 things every day. This includes the work patterns that we manage our
business and our personal lives with. They also tell us that of these 8 or 9
tasks, only 1 or 2 is pro-active and drives business.
This is a great time of the year to analyze how we manage our
business and activities. How much time do we spend working IN the business vs
working ON the business?
Working IN the business can be thought of as day to day busy work
much of which could be delegated. It also includes some bad habits that many of
us also have that ultimately hold us back. Unfortunately, the majority of us
spend way too much time on the minutia. For example, one of the bad
habits I often see among agents is that they expect technology to drive their
business. Many agents love spending time exploring technology options. Technology
is just a tool and does not create relationships or translate well in a
negotiation, however it can be helpful to enhance an existing relationship.
Now let’s shift to working
ON the business. This includes creating and monitoring systems and
efficiencies, being the rainmaker (enhancing relationships and creating new
opportunities), evaluating priorities and managing the processes. When I think
of these activities I see agents at opens, working expired listings or by
owners, being in the community and actively seeking new business opportunities
with business owners, HR managers, builders etc. This includes making sure that
systems and processes function well and in turn allows the agent to be working
at their optimum efficiency.
I know from my own personal experience, I do a much better job
working ON the business the week before I leave for vacation. Suddenly, I
become very organized and go into “crush it mode”. In my opinion that is an
example where instead of doing 8 or 9 tasks of which only 1 or 2 drives the
business I am performing at a higher level and perhaps 6 or 7 of them are
driving business.
Hope
is not an effective strategy. What I mean is hoping that 2013 is better
than 2012 just doesn’t cut it. As we look at 2012 and plan for 2013, I
encourage you to honestly ask yourself if you are spending too much time IN the business and not enough time ON the business. Increasing the
pro-active tasks to 3 or 4 is manageable and doubles the amount of time that
you are ON YOUR BUSINESS! Here’s HOPING that you spend more of 2013 like each
week is the week preceding a vacation and that you WORK ON YOUR BUSINESS like never before!
Friday, October 19, 2012
Talk to Your Sellers About Virtual Showings
By Kathy Kuyoth Broker/Co- Owner RE/MAX Preferred Associates Toledo, OH
With over 85% of home buyers starting their searches online it’s important to inform sellers about the effect this has on physical showings. In today’s market, a buyer can get most of the information about a home for sale , see multiple photos, and watch a virtual tour online. The buyer may do this several times over an extended period before they decide to request to physically see the home. With this in mind, monitor your websites for the number of hits you have on each of your listings and give your sellers that information in your weekly update. Sellers will appreciate this helpful information as there are usually fewer physical showings during the 4th quarter. You also need to set the stage during your listing appointments and let your sellers know there may be less physical showings because of the buyer being able to access a lot of the information about the home online. Make sure you stay in touch with your sellers and keep them informed Communications are more important right now as activity is declining during the last few months of 2012.
Thursday, October 18, 2012
Monday, October 15, 2012
Good morning; it’s Q4 – 2012, WOW!
By John Mangas,
Broker/Co-Owner RE/MAX Preferred Toledo, Ohio
It’s the 4th
quarter…are you re-positioning yourself to reflect that in your business
practices?
I think most of us would
agree that how you are conducting your activities in the 4th quarter
is different than it is in other times of the year. Many times I receive
feedback from associates acknowledging that, but then there is generally a
“what do you think I should be doing” follow up question. So let me share a few
thoughts…
- Listings: OVER COMMUNICATE! My suggestion is to be face to face with every seller at least one time during the 4th quarter. Sharing market stats, feedback, perhaps a new market analysis or even a price adjustment are all great topics. Updating seasonal appropriate photos is a must! A great tip for this time of the year (depending on your market) may be to load your sellers in the MLS as a prospect for their neighborhood so that they see all activity (or lack of activity) in real time. By doing this, you have the perfect reason to follow up with a conversation (not an email or text message) every time you are copied on the MLS correspondence. What I’m really saying is to make information your strongest ally and use personal communication to support the message. They hired YOU and they want to hear from you personally.
- Buyers: Buying power has never been better in the course of my career. Historic averages for interest rates are in the mid 8% range. With fixed rates in the high 3% range and home values at late 1990’s to early 2000’s values, this may just be the perfect window for buyers to get a property under contract. We all know that energy costs have gone up and that a large portion of the U.S. suffered from a drought this growing season. Energy and food costs together could begin an inflationary cycle that may eventually affect home values. Right now is an ideal time to be a buyer, period!
- YOU: How are you re-investing in yourself? This is a terrific time of the year to spend reaching out to past clients, friends and potential new business contacts. Look at your daily and weekly routines through a STOP-START-CONTINUE lens. There are places that we can all be more efficient and this is an ideal time to evaluate your systems and business practices. No matter how good any of us are, there are always areas that could be improved.
Thanksgiving is 5 weeks away. How are you going to make a
difference in your 2013 business by using the next 5 weeks to set next year’s
momentum in motion now?
Friday, October 5, 2012
Friday, September 28, 2012
The Path “Fast Forward”
By John Mangas, Broker/Co-Owner RE/MAX Preferred Associates Toledo Ohio
“Where did I leave my
MLS book?”
“Can you fax this for me?”
“Will you pick up the prints at Photo-Mart for my new listing?”
“Let’s ride together today on tour”
“After I stop at Quick Print for 5 color copies, let’s do lunch”
And the list could go on endlessly…
And YES, I can recall making each of these statements!
The days of showing
homes with an MLS book under one arm are long gone. Today most real estate
professionals know how to do property searches on line and can upload a digital
photo. But what does it mean to be truly relevant in today’s fast forward
arena? Back in the day of the MLS book and the other antiquated activities
above, the agent was gatekeeper to the information and the listings, conduit to
the lender & title agency, and the one who controlled the process.
But consumers today “know” everything, and get it wrong from time to time. They have instant access to the listings, facts and figures that once were exclusive to agents and brokers and endless how to guides from the internet. How do we as real estate professionals ensure we remain a meaningful party to the transaction and meaningful to the process going forward?
To be relevant to consumers, brokers must first be relevant our agents. Distressed properties, short sales, HUD listings etc continue to comprise a significant percentage of the market. Those properties need the expertise of a Realtor to navigate the complex process. FSBO’s continue to list their properties with a Realtor eventually finding that they need the skills that we offer in difficult and in heated markets. Brokers must stay current and forward thinking which must be communicated to their associates which ultimately benefits the clients.
Knowledge of the local
market and the ability to assist buyers and sellers to interpret the abundance
of information now available to them is where today’s real estate professionals
fit in. Business intelligence is the bottom line. We must learn and relearn the
business every day, week, month and year. Right now going mobile is the big push and we have responded
with a terrific mobile site. As
we fast forward into whatever the next big push is, we will need to learn and
adapt because it’s what we must do for our agents and clients; if we fail to do
so we will be no more useful than the MLS book from 1985!
Friday, August 10, 2012
“The Market is GREAT, sure wish I was!”
Recognizing
that something is "off" is a huge first step. As Real Estate professionals,
we don't have the "off" luxury if we want to prospect for and serve
our clients well. For me, I have to find ways to make the business "fun again" when I'm feeling
that way. That generally involves a series of deliberate steps...
1. Take
a break; plan a trip or just get away from it all for a bit (& try to
unplug too)
2. Bring
on a few ideas; seminars, conventions or even brainstorming with other like
minded people can get the creative juices going again.
3. Read
something that gets you excited. I know I'm a huge fan of Gary Vaynerchuk’s books (The Thank youEconomy and Crush it!) but listening & re-listening to them gets me pumped
up about where technology & alternative marketing can help us take our
business.
4. Identifying
what parts of the business are troublesome and causing the burnt out feelings. This needs to be part of the
process, or you'll be right back in the same spot in 90 days. The problem with
this is that until you have taken some time off and your head is in a different
place, you may not have the perspective to look back and accurately define
those areas.
5. Ask yourself what really matters.
Connect back to the elements of the business that attracted you in the first
place. Like putting on an old favorite jacket on the first cool fall day, you
may rapidly find yourself falling back in love with your career; this is the
"what's old is new again" principle. Perhaps it's as simple as a
having a corkboard wall with photos & testimonials from the people that
have helped buy and sell homes over the years.
6. Find a "bitch" buddy. What
I mean by that is that my business partner Kathy and I vent to each other
constantly. Saying what's bothering you out loud to another human being who
understands you can be very therapeutic. Somehow, saying it goes a long way in
getting it off your chest and begins to allow you to resolve the situation or
move on. It makes me a better person and keeps the ugly stuff from taking over.
7. Keep putting good stuff in. I
absolutely love Rory Vaden’s book “Take
the Stairs"…I’m just finishing it and find that it takes me to good
places. Finding inspiration could be as simple as a walk in the park, playing
catch with child, attending weekend services, hearing some great music, going
to the museum or even going to a comedy club or reading a good book. Doing
something bigger than yourself or the career somehow grounds us again and helps
to keep it all in perspective.
One
of the first sayings that I was exposed to as a young business person was
"if it's going to be, it's up to me". I still keep that on my
bathroom mirror so it is one of the first things that I see each new day. It
reminds me that I control my life and my destiny and that no matter what comes
my way, I’ll be just fine.
Friday, July 13, 2012
Friday, July 6, 2012
JOB CREATION, MR. PRESIDENT’S VISIT & RECORD LOW RATES
It’s the first week of July, 2012.
And what a week it has been in the Toledo & Northwest
Ohio area.
- The Independence Day Celebrations
- President Obama visits Toledo
- Severe storms strike the area leaving death & destruction
- Interest
rates again find a NEW RECORD
- June
housing numbers for RE/
- The U.S. jobs report is released showing lower than anticipated level of job creation
I could go on, but it’s only Friday July 6th and
that seems like more than enough for a month, let alone a 4 day work week!
So, what does all this mean collectively or individually? In
my humble opinion it is a great overview of the times we live in. We are all
proud to be Americans and live in the USA. As such, we recognize that this
continues to be the land of opportunity and the American Dream of
homeownership.
When any President visits our community it’s an honor,
regardless of your party or politics. We honor the office of President and are
pleased to have the President see our community and hear about the challenges
that we face locally. That may include lack of good jobs, foreclosure problems
or even catastrophic storms.
When I recorded our weekly video yesterday, I stated that
our agency was up 21% for the first half of 2012 vs the first half 2011. That’s
huge for us and is encouraging for our clients and marketplace. Unfortunately,
the jobs numbers that were released this morning were disappointing. Europe’s
layers of problems are affecting our economy here and that of course translates
to consumer confidence. Manufacturing was one segment of the jobs report that
showed growth in the second quarter compared to the first. That is very good
news for the Toledo area to be sure!
It’s been a very full week. As it winds down and I reflect,
I recognize that while there are always things around us that may be
unsettling, keeping it in perspective is what really matters. Rates are great.
Jobs are being created. More people are buying and selling homes than were 12
months ago, and well…I’m glad the President didn’t stay too long; I hated the
traffic snarls that he created.
Friday, June 29, 2012
Home Sales Market Showing Signs of Improvement
Spring has given way to Summer.
Just like how the seeds that we planted in our gardens have
blossomed into flowers, the Metro-Toledo
real estate market is blossoming. Single family and Condo/Villa properties are
showing a lower number of days on the market and an increased number being
sold.
The Toledo
Board of Realtors statistics show that closed sales for May 2012 were up
20% from May 2011. Additionally, our
internal data shows that 2012 closed units for our agency, RE/MAX Preferred through June 27th when compared to the same period in 2011 are
up 15.9%.
We are seeing additional activity nationally and also in our
local market for new homes and new construction contracts. The pent-up demand
for new homes is beginning to show according to the Toledo HBA Executive Director, Bill
Brennan, who stated that there has been a steady increase in permits issued in
recent months.
What we are really experiencing is the front end of a
recovery process. Interest
rates remain historically low and buying
power is as high as it’s been ever in many markets. Certainly, we are
early in the process and the economy as a whole including the jobs market need
to show growth to maintain the momentum.
To quote the National Association
of Realtors, “Housing Matters” and housing may just help fuel the economic
recovery.
Wednesday, May 23, 2012
HOME OWNERSHIP MATTERS
I had the great privilege to be in Washington DC for theREALTOR Rally at the
Washington Monument. There was patriotic music, terrific speeches
and a feeling of oneness. But the message was much, much more.
Home ownership matters. It’s the reason that many of our ancestors
came to America in the first place and the legacy was demonstrated throughout
the program. People spoke about the tangible benefits of home ownership such as
a great long term investment. However, they also spoke how owning your own home
provides a sense of community and can even be traced to higher testing scores
among students. Home owners take pride in their property and get involved in
the neighborhood, schools and community in ways that are meaningful and provide
stability.
Locally, RE/MAX Preferred
was involved in over 1900 transaction sides in 2011 which helped many in the
Metro-Toledo area achieve their goal of home ownership. In 2012 we are seeing
even more people getting into the housing market with historically low interest rates, abundant inventory in
nearly all markets and price points and an improving job market.
The dream of home ownership doesn’t need to just be a dream. The
opportunity has perhaps never been greater. Housing affordability remains
terrific, and in fact the Toledo Market was recently recognized by the Brookings Institute and the 3rd mostaffordable housing
market in the United States! It’s time now to turn the dream of home ownership
in to the reality of owning a home of your own.
Friday, May 11, 2012
Tuesday, April 24, 2012
Monday, April 9, 2012
REAL ESTATE RECOVERY TOLEDO STYLE
By John Mangas, Real Estate Broker, RE/MAX Preferred
While on his morning neighborhood walk Bob commented “Good morning Frank. Did you hear that the Smith’s house finally sold?” And Frank replied, “yeah…and they only had to bring $17,000 to the closing!”
That is a quick snap shot of the Toledo area real estate market. Home sale are on the upswing. In fact we just had the best first quarter in 5 years, but make no mistake, Toledo and many other badly hurt markets have a very long way to go.
The Brookings Institute MetroMonitor has said that the Toledo is among the Top 20 cities recovering from recession when it comes to manufacturing, the report says. Expansion at the Jeep plant and GM Powertrain have spurred jobs and have helped to provide stability in a very volatile jobs climate. The report did not take the 1,100 service jobs at the new Hollywood Casino which opens in May 2012 into account.
The jobs climate and housing markets go hand in hand. What I’m seeing tells me that we just may have found the bottom in the Great Recession and are beginning to make incremental improvements. To be sure, we will bump along the bottom for a while, but short of a worldwide disruption of crude oil or an all out mid-East conflict, we should be able to look back in years to come at 2012 and say that’s where the recover began.
Back to Frank and Bob…when asked for advise about buying and selling, I like to remind people that if they are selling at a lower price, that also means that they are likely buying at a lower price. It’s all relative. We have historically low interest rates, great housing inventories to select from and bargain basement pricing; Yes Frank and Bob, homeownership is on sale!
Saturday, April 7, 2012
Saturday, March 31, 2012
Tuesday, March 27, 2012
The RE/MAX Convention-Take Aways for the Consumer
By John Mangas, Broker/Owner RE/MAX Preferred Toledo, Ohio
The RE/MAX Convention was in Las Vegas the first week of March and was centered around an “R4” theme. Each day of Convention had a different theme: REIGNITE, RECONNECT, RECOGNIZE, REDISCOVER. These daily themes served as a touchtone for each of us as we explored the learning opportunities afforded to us.
As RE/MAX brokers and agents, we are here to serve our clients. That take on many different forms based of different markets, types of sakes and market conditions. Below are a few of my “convention take aways” that today’s consumer may find useful”
REIGNITE:
- Market conditions are improving
- Most experts agreed that markets have bottomed out
- Customer Service is an often forgotten art in this electronic age
RECONNECT:
- Understanding our passion and our purpose allows us to be a bigger person and better service our clients
- The basics never fail us, but still be cutting edge; the RE/
- Everyone, agent, broker or client should read “Good to Great” and “Delivering Happiness”
RECOGNIZE:
- Looking at our systems and honestly assessing if the meet our clients expectation is something we all need to do from time to time
- “I want to be the person that my kids think I am” Tom Ferry (enough said)
- There is more opportunity around us; Today’s 4% +/- fixed rate mortgage money, vast housing stock & historically low homes prices (average fixed rate over past 40 years is approx. 8.9%)
REDISCOVER:
- Learning the lesions from the last recession and communicating them to our clients is now a priority
- How do we best communicate? 42% of consumers have no land line
- Homeownership is still the American dream and creates stable communities.
The Convention serves us as practitioners, but ultimately it benefits our clients. At RE/MAX Preferred, we strive to provide our buyers and sellers a higher level of service which is why over 20+ of us invest in the Convention each year. Keeping our skill sets honed is a priority to us whether we assisting our clients with distressed properties, relocation, buying or seller; that’s why at RE/MAX we say, OUTSTANDING AGENTS/OUTSTANDING RESULTS!
Wednesday, February 8, 2012
WILL THE "YEAR OF THE DRAGON" BE GOOD FOR REAL ESTATE?
If past history is any guide, the new lunar year could be when the housing recovery gets under way.
The Year of the Dragon officially began January 23, 2012. Not only is this slice of the zodiac associated with prosperity, it’s also associated with rising home prices and, more often than not, increased home sales – at least the last three times it came around.
Just look at the statistics from state and national Realtor associations. Home prices were up considerably the last three Years of the Dragon – 1976, 1988 and 2000. And sales were up on a state and national basis in two of those three years.
http://www.toledorealtors.com/index.php?cid=619002&src=gendocs&ref=Mobile%20Newsletter&category=enews&curlid=16557
Monday, January 30, 2012
JUST ONE MORE…
By John Mangas, real estate broker with RE/MAX Preferred Toledo, Ohio
Last week I had the pleasure to be at the Ohio Association of Realtor’s 2012 inaugural in Columbus. The very talented Bob Miller was inducted as the 2012 president of OAR.
In Bob’s remarks, he spoke about “one more”. He challenged us an our industry to do one more thing each day to build our businesses.
That simple statement, ONE MORE really resonated with me. We can all create the time to do one more positive thing each day. In doing so, think what we can accomplish with…
ONE MORE:
- Post closing follow up call
- Contact with a past client
- FSBO or Expired contact
- Market update to an overpriced seller
- Follow up with a Human Resources Manager
- Call to your open house attendees
- HAND WRITTEN thank you note
The list is nearly endless, as is the potential. Honest, sincere calls and follow up is part of our job. It’s not glamorous. Sometimes it’s not much fun at all, but its what successful Realtors do.
As self starters we also must be good time managers. Creating time in your schedule for regular prospecting, plus ONE MORE can only make you more successful and set you apart as a respected professional. Take the time to make the time for ONE MORE…you won’t regret it!
Friday, January 20, 2012
Top 10 Tips for Holding Successful Open Houses
By: Kathy Kuyoth Broker / Owner
1/19/2012
With the new year just beginning we have seen a lot of buyer activity in our market. So now would be a great time to schedule an open house.
We have several Realtors who made a good income from holding successful open houses. If you would like to shadow or chat with someone who has had success at open houses talk to Joan Rauh, Sharon Kowalski or Johnny O. They can share their techniques and strategies.
Here are our top 10 tips to holding successful open houses that we have compiled with input from our RE/MAX Preferred Realtors!
1) Check your open house attitude! Make sure it’s positive and realize you can have a successful open house if you get one buyer or seller to work with.
2) Buy a plant or gas card to use for a drawing at your open house. Use drawing entry cards instead of sign in sheet with a place for name, address, cell phone number and email address. With this information you can notify winner and deliver prize to their home or office and add them to data base to provide them with more home buying information.
3) Do research: check our appointment log on RPAAgents.com and see what price ranges are getting the most showings to determine the best price range for your open houses
4) New listings that are priced right or homes with recent price reductions are usually the best open houses.
We have several Realtors who made a good income from holding successful open houses. If you would like to shadow or chat with someone who has had success at open houses talk to Joan Rauh, Sharon Kowalski or Johnny O. They can share their techniques and strategies.
Here are our top 10 tips to holding successful open houses that we have compiled with input from our RE/MAX Preferred Realtors!
1) Check your open house attitude! Make sure it’s positive and realize you can have a successful open house if you get one buyer or seller to work with.
2) Buy a plant or gas card to use for a drawing at your open house. Use drawing entry cards instead of sign in sheet with a place for name, address, cell phone number and email address. With this information you can notify winner and deliver prize to their home or office and add them to data base to provide them with more home buying information.
3) Do research: check our appointment log on RPAAgents.com and see what price ranges are getting the most showings to determine the best price range for your open houses
4) New listings that are priced right or homes with recent price reductions are usually the best open houses.
Friday, January 13, 2012
Speaking of Bang for the Buck…..
By John Mangas, Real Estate Broker with RE/MAX Preferred Toledo, Ohio
Can we agree that property values in metro Toledo have fallen over the past 6 years?
Would 30% be a fair number?
Have you heard that you can obtain a 30 year fixed rate loan for around 4%?
Did you realize that the same rate would have been around 5.5 – 6% just a few years ago?
So let’s assume that a buyer bought a $150,000 home 5 years ago and did FHA financing (3% down) and that they were able to obtain a 30 year fixed interest rate of 5.75%. The monthly principal and interest payment would be about $849. per month.
In today’s market, that same $150,000 home would sell for around $110,000, Additionally, the interest rate that today’s buyer is paying is around 4%. Staying with the same FHA 30 year fixed rate (3% down) scenario, the monthly P & I payment would be around $502 per month! That represents 40% more buying power!
TALK ABOUT BANG FOR THE BUCK!
We lose site of this because the market shift happened over an extended period of time and the change was gradual. The media has talked a great deal about lower property values but has failed to point out this very important part of the equation. Today’s buyer has an opportunity to buy more home for less…PERIOD! As real estate professionals, we need to be educating the market and talking about this tremendous opportunity.
Housing affordability has not been better during the years that I have been a Realtor. We can’t depend on anyone to speak this message louder than we do! If we become ambassadors for the housing market, we become a meaningful voice and help to drive the recovery! NOW is a GREAT TIME TO BUY!
Thursday, January 12, 2012
Wednesday, January 11, 2012
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