Gary Woltal's Blog

A Realtor colleague was buzzing around the office the other day with handling multiple calls on the Treo phone and using the Bluetooth headset all the while making copies and signing some documents. It dawned on me how in the work world and life in general at times we live in a frenzy. In today's mobile connectivity atmosphere it is viewed as highly productive to be always connected, anywhere, anytime, with any device. To that I say yes and no. At times this is good for responsiveness, business efficiency, and being productive. Other times of your day I say disconnect. It might just give you some peace.

One exercise to try in driving is to just turn off the radio, music or the latest traffic report of the wreck causing the traffic jam three miles ahead. Listen to the silence. Not soothing music, not educational CDs, just silence. Try hearing your own thougts.

Another idea is to volunteer. Soup kitchens, humane society, church, Habitat for Humanity. Again be silent as you do your giving. Watch, listen, and observe in SILENCE. It's very powerful this QUIET stuff. You learn so much. In volunteering you'll see smiling, appreciative faces. You'll hear laughter. You'll feel warm hearts.

So I encourage you to take a time out from the frenzy and try the SILENT treatment. For a brief moment or two, you'll be glad you did!

From looking at real estate from afar, then getting into the business, what always popped up in my mind was, "Who are these people?" Real estate seemed like such a "general" occupation compared to say pharmacist or architect. I later learned that to many, if not most, real estate was not necessarily the choice of what people coming out of high school or college often selected. It was a second occupation or even later in life that they "found" real estate. Granted, some people "try" real estate, but by and large those that work it and succeed do love the business. I was absolutely amazed as I asked each agent their little mini life story of what they did in a past life. Here are some of the sample backgrounds I encountered:

• Teacher
• Customer service
• Human Resources
• Nurses
• Managers
• Sales / Marketing / Economics backgrounds
• Technology / Engineering / IT
• Work-at-home Moms
• High school and college graduates
• Trucking / Logistics companies
• Athletes / fitness instructors
• Retirees
• Administration / clerical
• Hospitality industry / catering
• Financial services / mortgage / title companies / insurance
• Law enforcement / Military
• Small business owners / tax prep
• Airlines / flight attendants

This is all I can remember off the top of my head. But the other observation I made other than passion for real estate, was despite all the many diverse backgrounds, all these people truly "cared" about people. They were good at heart. True, there are scoundrels in this business like many others. But there are far more genuinely nice people with big smiles that bring their life experiences from "other" careers to the table. You will find this out as you drive around looking at houses with REALTORs. They can relate to your family and your buying needs. You will be able to relate as you sit across from the table when you offer your home up for sale. They are homeowners and some are investors too. This broad mix of backgrounds I think is very good for the public and makes your REALTOR not only someone that knows something else in their life but someone who cares about YOU!

I notice many tag lines particularly for newer REALTORs that they want to be your REALTOR for life. I think this is an absolutely worthwhile and admirable goal. Who wouldn't want an excellent professional to serve them for many years? Unfortunately though, I think some just pay lip service to that noble goal. Case in point. What is it that most consumers complain most about the relationship with their real estate agent? It's that they don't follow up after a sale. Granted, many people don't purchase their next home for 5 to 7 years, so after that transaction is over there is a long waiting period. But there is always the referrals from family and friends. There is the ability to help people protest their property tax appraisal with a fresh CMA you could send them. There are home improvement and remodeling tips and even just ways to save money while owning the American dream.

Next look at the turnover in real estate agents. Face it, some REALTORs for life have disappeared from the area within three years. How can you be my REALTOR for life when now you're selling shoes in the department store? I think agents who have a long term focus, stay well educated, are caring individuals, have high integrity, and are always professional have a shot at rightly using this tag line. I think it is one we should all strive for. But it has for many come as such a cliche that someone just posts on a web site or puts on a direct mail post card.

I'm hoping our profession continues to grow with ethical people who really aspire to such a wonderful accolade as REALTOR for life. What a wonderful person any of us has found when we find that true champion among us.

November 6th is election day for most places around the country. Like real estate being local elections are intensely local too. Ballots and issues remain important to each state or city and sometimes the issues have impact on homeowners and real estate agents. For example in Texas this year with State Constitutional amendments:

• Prop 3: 10 percent cap on home appraisal hikes
• Prop 5: Property-tax elections in rural towns
• Prop 6: Personal vehicle / business use exemption (agents and pizza delivery drivers pay attention!)
• Prop 8: Home equity loan clarification

Then there's the funny or backwards wording on some ballots. In the city of Dallas for example a proposed toll road south of the city across the Trinity river has a FOR if you are against the proposal and an AGAINST if you are for the proposal. Go figure. Who writes up these things? Certainly not excellent blog writers!

So do your civic duty, study your ballot, carve out some time, and cast your opinion for shaping the world. When you read some of these ballots for your backyard, they really do affect your pocketbook, your house, and your life.

And oh by the way, we're now only one year away from the big one in electing the next leader of the free world. The '08 campaign promises to be very interesting. Stay tuned for the fun.

In the area of direct mail or e-newsletters received from REALTORs I sometimes marvel at the amount of "non-real estate" related items they are composed of. I often see recipes, information about the local balloon fest, community events, etc. I don't mind this information but I would think that coming from a real estate professional who is the supposed "expert" in the local area that some of the topics would be from that perspective. The worst direct mail pieces that take about a nanosecond to hit the trash can are the ones with the enlarged photo of the REALTOR and say they work your area and please call them when you are ready to buy or sell. Granted, it satisfies the consistency of the face in front of you. If you get enough of this junk mail that might be true, but I think my trash can is more familiar with them than I.

In web marketing, and I suppose it could apply to print as well, there is a concept called "stickiness." Give something of value, or even remotely meaningful, and people will be more likely to read it, perhaps not toss it, and MAYBE even remember the REALTOR.

Some meaningful things to include in these post cards or e-newletters:

• a few sample homes that have sold recently in the area and their prices
• line charts showing trends of days on market or average price over time
• bar charts comparing year over year by month of number of houses sold in an area or by zip
• home maintenance tips like winterizing your home or home remodeling ideas
• an article reinforcing why it is always a good time to buy or sell a home
• an article on the pitfalls of selling your home yourself and without the assistance of a REALTOR
• links to real estate web sites with a brief description of each that may be helpful to the public

There are many ideas beyond these. The general public appreciates helpful people and the REALTOR that does MORE than just tell you how to make chocolate chip cookies laced with cinnamon for the winter months gets my vote every time!

With the many cautious buyers amongst us these days the question is, "Why are they on the fence?" Looking at the reason some buyers are hesitant to pull the trigger include:

• fears that the price of the home they are buying will drop after they purchase it
• the media is telling them this is a TERRIBLE housing market
• afterall no one is lending any money anymore, or it is very tough to qualify
• no one else is buying so why should I be out there counter to what everyone else is doing
• have you seen the price of gasoline lately? I'm feeling a little sick in my stomach

Well, maybe that last one has some ring of truth in it, but in general all the others are just problems with buyer psychology and FEAR. Let me clue today's buyer and the REALTOR buyer agent into a bit of much more POSITIVE buyer psychology:

WASTE NO TIME !!!

What I mean by that, is life moves on, ready or not, whatever you are doing. If at this stage in life, moving from an apartment, upsizing, downsizing, need a fresh clean home and get out of a dump - if it's right for YOU, it's right for you. You're not getting any younger. As the folks at NIKE say, "Just DO IT!!" To ease your mind that buying now is a good thing:

• Interest rates are low
• More inventory on the market means you can probably swing a good deal with a great buyers agent on your side
• Many programs like FHA and Down Payment assistance are out there to assist you
• Lenders are still freely offering mortgages with people with good credit
• Market priced homes in good condition are still moving fast
• REALTORs are waiting for your call and want to work hard for you to achieve your dreams

No decision is a decision. Don't put your life on hold because of some web or newspaper headline. Build your memories in your new place TODAY. Always in life, and with real estate, WASTE NO TIME !!!

A man dies and arrives not at the Pearly Gates but down the road a bit. Satan is at a desk and says before entering Heaven he recommends the new visitor tour each place first (Heaven AND Hell) and make up his own mind. The visitor agrees. First, they look at heaven and it is serene with people with wings playing harps and floating on clouds. Kind of ho-hum. Then they go down the elevator to Hell and what an exciting place. Dancing girls, wild music, lots of great food, year round golf, marble floors, swimming pools, etc. They come back up the elevator to the desk and it is time to make a decision. The visitor decides Hell looks a whole lot more fun than Heaven so eternity in Hell is the place for him. Back down the elevator they go. The door opens, and now the view is full of fire, people crying in misery, and the gnashing of teeth. The visitor asks Satan what happened to all the wonderful things from before? Satan replies, "THAT WAS THE MODEL."

So too, naive buyers of new construction are "lured" into the pristine buildings called "models" in new home communities. Builders to show off their inventory often add $90,000 or more of upgraded amenities and professional decorating and furnishings to the model homes. I think the public is generally aware of this but not sometimes to the extent that they do it. Work with a REALTOR to get a real scoop of what is real and what is imaginary. Visit a spec home and see what the basics might include. Negotiate heavily to get as many upgrades as possible for a reasonable value.

Or else your elevator door might open on your final walk-thru or closing day and you will definitely have a strong case of buyers remorse. Beware of the smiling salesman. There may be a reason he's smiling. GOTCHA!

While driving around I passed nearby our local Dept. of Public Safety office where I saw a teenager with their car practicing to pass the parallel parking portion of the driving exam. It brought back memories of what seems like the most critical hurdle to surmount in those early days of anxiety in passing the road portion of the Driver's License test.

To me the parallel parking was a metaphor in our world to remember that "Life Goes On." Daily in the real estate world I hear the Chicken Littles about me saying how they don't know what to do. Business is off, lenders down the street are laying off people, homebuilders are closing their doors, where did the buyers go? etc.

The point is, KEEP IT ALL IN PERSPECTIVE! In the real estate and housing world as anyone who has been in the business many years or watched it from afar knows, nothing ever stays the same. It is not static. The market is dynamic. Today's bad news is tomorrow's history. Stay positive. Talk to any hard working REALTOR or office and you will find out people are STILL, believe it of not, buying and selling homes. The conditions and stats may have changed, but activity is still there. Business models and marketing approaches may need to change. But just roll with the times. If one is in the business for the long term (AND LOVES IT), stay upbeat and share your hopes (and concerns) with others who can keep you "pumped up."

For the teenager in the car bumping over and over into the cones, next week's test at the Driver License bureau looks like a big mountain to climb. But despite the anxiety, they will pass, get through the quickened heartbeat and look back on it someday and laugh.

So take a deep breath and relax. Everything will be ok.

There is a plethora of expert advice and tips on building effective web sites for REALTORs. But do even the experts have it right? If you are building a real estate agent web site or just reading one, what might be considered the basics for a good web site? If you take the consumer in mind from their visiting your web site either locally within your city or from across the country, the basic "essentials" need to be these five things:

1. Ability to search the local inventory of homes, condos, rentals, foreclosures, new construction (often this is achieved with IDX links into the local MLS). Sometimes there are internet links even to FSBOs. Search criteria should be by price, square footage, number of bedrooms, etc.
2. Recent information on comparables in the area to get a sense of the range of pricing. This may often take the form of a request to the REALTOR directly to send you the latest CMA.
3. Information about the local area. Everyone hasn't been to Kalmazoo before like you who have lived there your whole life. What are the surrounding suburbs? Provide community information, school information, amenities of the area and useful relocation information like being able to send out a welcome packet if they request it.
4. Insight into local market trends. How are things going in the Indianapolis metro area? Providing graphs or talking about this in your on-line blog makes you, the REALTOR the local expert, and the reader better informed.
5. Tell the reader about the home buying or selling process. Normally done by giving away free reports on the web site. What should I do to stage my home? What is the buying process? How should I choose a REALTOR? Is maintenance performed on my home prior to listing it for sale important? How do I qualify for a mortgage? Again, the REALTOR is the conduit of information to you.

Real estate agent web sites, like those for many businesses are tweaked constantly to provide information to the public, generate leads for the business, and improve their navigability. But look at web sites for REALTORs that are built or that you read, and make sure these five essentials are present.

Problems continue at the top positions at the financial firms at Countrywide, Merrill Lynch, Citigroup, and others. If the CEO's are not already out the door (with nice parting gifts of course) they soon will be. All stemming from big losses from distressed mortgage assets. The losses are staggering! In the billions with a B. Shareholders and board members are not happy campers. To me from about three years ago, I saw this as building a house of cards that inevitably had to fall. Call it greed. Call it incompetence. Too many in the public view CEOs as wonder childs, rising through the ranks to their lofty positions. Many are just like all of us. Human. Full of flaws. They reach the top and only have one place to go. Get booted out the door.

What too many CEOs lack in the end is character. They have their own agendas, their company goals, and NOT the customer's best interest at heart. The impact of this lack of character has now rippled into a big dent in the national economy. It has affected borrowers who can't qualify for a home loan. Some homebuilders are going bust. Some homeowners are facing foreclosure. Personal responsibility needs to be placed at all these groups but the mortgage companies set the ball rolling to make many areas easily fail.

IF the top brass at these firms would act in the general interest of their customers and public (as great REALTORs and mortgage brokers/lenders always do) we would have seen less high risk ARMs, interest only loans, and negative amortization products available as products. There also would have been much more education on the pros and cons of signing up with each program and the consequences of what happens if things go wrong. Greed and laziness did not allow this to take place.

I am maybe one of a few that believes in counseling customers and giving them your opinion. WHY ELSE do they need you to buy or sell a house or get a mortgage elsewise? Couldn't they do it over the Internet? Yeah, right. An expert's opinion counts. Let the buyer or seller ultimately decide. It's their money. But you give the advice based on what you know. I love the following quote. "No one cares about what you know until they know that you care." As a partner with a client, we as REALTORs or financial advisors need to guide them.

In the end, if the chieftains of industry would have CARED about their customer rather than having such a short term focus and lining their pockets as fast as possible, we wouldn't be in the mess we're in now and they would still have a job. Unfortunately, you'll probably still seem them out on the golf course courtesy of the parting gifts. Hopefully the next leaders in charge will have more integrity.