More info…
I guess it’s now official. The real estate bubble has burst. When the inventory figures for homes show they are going up nationwide AND it’s in the national media, you can be sure that it’s already been happening for a few months now. The NY Times and Jouranl and just about every other news outlet decided today that it was a story – so I guess it’s official.

Those of us in the real estate business have known it for the last 3 months and we could have told you so. We have sales figures and “time on market” statistics that can back up our claims. We have been telling successful sellers what’s happening and how to price their homes accordingly. Now – 3 months later, the media is catching on.

The story is that the supply of homes on the market is rising and the number of buyers isn’t. What that means to you is that your home will sit on the market longer without selling. In fact, two of the articles I’ve read state simply that it would take over 6 months to sell all the homes currently for sale. What they leave out is that more homes come on the market every day, further increasing the glut.

As the number of homes on the market increases, it takes further price reductions to get some of those homes to sell quicker, which, in turn, lowers the reflected market price of all homes. Sellers will wait and wait and then lower their price – too late. What they don’t realize is that they are chasing the market down.

The market price of their home goes down and then they lower their price just above the market price and wait. While they wait, the market price goes down further, putting them farther and farther away from the market value, until they lower the price again.

So, as a seller, what should you do right now?

Simple, lower your price to a point that is BELOW the current market value. Ask your agent to take some time and do a good market analysis to get a feel for what your home is worth right now. Then, price it below that number. If you do this, you will have hungry and willing buyers lining up to make offers on your home… but only for a short time in a falling market. If you wait too long, and the market coninues to drop, then you will be priced above the market again and have to reassess the situation.

The smart thing to do is price your home low and let the market come to you, rather than chasing the market down. One strategy results in buyers, the other results in foreclosures. But you have to decide which strategy to persue.


ePartners comes to Alabama

ePartners is making it’s debut in Alabama in 492 cities statewide. ePartners is a nationwide relocation network that allows anyone to search for and find properties for sale in any city any time.

The local cities are affiliated with an agent or team of real estate agents who work the areas and are specialists in properties in each city. They can help members of the homebuying or homeselling public find exactly what they are looking for.

The ePartners network also contains specific city information on schools and neighborhoods, shopping and restaurants, and parks and recreation.

Sellers can market their homes through the nationwide network and buyers can easily find them from anywhere in the United States.

Some of the main sites are very easy to find: Alabamawebpage.com,Montgomerywebpage.com are examples of url’s that make this network very consumer friendly.

The ePartners network also allows real estate agents to easily get plugged into a nationwide relocation and referral network.

ePartners is set to take off in early December 2006. We will be watching.


Access Realty Fast Start Training

by Mike Carraway

It happens almost daily in this great country of ours. A new real estate agent gets thier license. Then, they set off on a journey to learn how to get customers and how to do business.

Unfortunately for most of them, they try for about 3 to 6 months, don’t get any business, and quit. Why?

Well, look at it this way – if you opened up a new business and had no customers in your first 6 months – what would you do? I know that I would be questioning my own abilities at getting cusomters, wouldn’t you?

Having seen this happen so many times with new agents, I knew that there had to be a way to give new agents the tools and techniques they needed to succeed quickly. Over a 5 year period, I deveoped what I call our proprietary “Fast Start” program.

This program takes someone with zero sales experience, with no knowledge of marketing and teaches them the basics of response generating advertising and marketing. Most real estate agents have no idea why people call on an ad. When the students in Fast Start complete their training, they not only know why, but they can accurately track their ad performance and cost per call. They can also measure conversion rates. All of these things are a must for any business.

The second big part of this program is how to manage those leads that are generated and follow up with them so that they actually become customers or clients. The students are taught to set up a simple follow-up system and several different “action plans”. Combining this foolow-up system with the lead generation is the cornerstone of the Fast Start program.

Most of the students who apply what they learn in the real world ususally have a real estate transaction pending within their first 30 days. That’s how good the program works. Not everyone who goes through the program is successfull. Some students learn the information and then do not apply it. Why? Hard to say. I think one of the biggest reasons is fear of success.

They know that if they are successfull, they’ll have to work. They also know that if they are successfull, most of their problems will go away and they won’t have any excuses any more. Of course, it’s just my opinion.

If you are in the real estate business and actually WANT success – you should take our next Fast Start training class and get on the fast track to success.

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