BRER Real Estate Marketing Blog

This is the second in a ongoing series named Insider Insight.   I’ll be publishing posts from, or conversations with, brokers and agents who are willing to share their expertise and insight into topics that are discussed on this blog.  The first post in this series was by Sam Chapman - I just hadn’t decided to create the category until today!

This is a discussion with Priscilla Allen who markets San Antonio TX real estate.  Priscilla and the Allen Realty Group team increased sales $9,000,000.00.  In 2006 hers was the 16^th top team in San Antonio, and for 2007 she was awarded the 10^th top team in San Antonio, with only three team members.  She has now added two more buyers’ agents and a full time Home Stager and decorator.

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Q: How did you manage that increase in your sales?

Priscilla:  It’s because of my website.  First, you and I worked together to update the website, then I started working with your SEO partner, Blackwater Consulting.   The results have been outstanding.

Q: You know, there are a lot of real estate professionals that aren’t getting that kind of results from their websites.  Now that you have a professional site and some traffic (thanks for the plugs!), let’s talk about how you turn the traffic into leads.

Where do most of your leads come from - are they filling out forms on your site?

Priscilla: Most of the traffic comes from being found on search engines.  Sometimes people are using the calculator or filling out a form, but 95% of the people who contact me are looking at homes or want to see a listing.

Read the rest of this entry »

Naturally, there are many reasons why now is a good time to buy.  But, I know lots of prospects are still stalling, mulling, pondering, and otherwise driving their agents crazy.

Until lately, it really was a buyer’s market.  Home prices were low, sellers were willing to deal, and it was easy for almost anyone to get a mortgage.  And, while I hear a lot about the first two reasons why folks should buy now, the third one doesn’t get much press.  Especially since there are all those pesky foreclosures happening.

So, I thought it was interesting when I saw a mention on the Inman blog about an excellent post on a mortgage blog entitled, “Stop Asking Your Real Estate Agent If ‘Now Is A Good Time To Buy.’ ”

The predictions in that post of what could happen in the mortgage industry in the Fall should motivate all but the cash-transaction buyers to make a move this Spring or Summer!

Besides bottomed-out (update: in deference to the comments on this post, perhaps it would have been better to say “low” instead of bottomed-out!) prices and desperate sellers, the TRUTH about why it’s a good time to buy is that if you wait, you could be locked out!

Ah, I love a parade.  That’s a punchline to a joke my father told me some decades ago, and it wasn’t really about a parade.  I can’t remember the joke, but the punchline has stuck in my mind as a reminder of what I think is one of the weirdest of human behaviors:  people just love gawking at horrible stuff.

A tornado struck downtown Atlanta a while back - you might have heard about it.  A tornado in the downtown of a large city is unusual and wondrous in its wrecking power.  Immovable windows were sucked out of tall buildings, trees and debris smashed the modest homes around the downtown area, and one building of loft apartments collapsed onto itself.

We saw tape from a security camera showing one of the carriage horses deciding that it just couldn’t move fast enough with that pesky carriage attached to itself, so it broke all the heavy leather straps and ran free.  Unfortunately, the news people never told us where the horse went.  The driver was interviewed after the storm passed, and he and the horse were back together.  I would have liked to have heard how he found the horse, but it wasn’t to be.

And, all of that, of course, is in addition to the roof of the Georgia Dome sortof coming off in pieces which really put a cramp in the NCAA’s plans.

All during the night the tornado first struck, and the following day, the mayor of Atlanta had been on the television asking people not to come downtown.  Why?  Because with all the glass still falling out of windows, the streets were unsafe, and additional people driving or strolling around would make the job of cleaning up much more difficult.

But, what did we see during subsequent newscasts?  People driving and strolling around downtown.  There were people taking photos with their cell phones and pointing out the more amazing pieces of damage to one another.  Had they come to help remove debris or offer assistance to people who had no where to eat or sleep?  No, just cruising from what I could tell.

I think the mayor of Atlanta should have taken a lesson from the mayor of Boston during the snowstorm in 1978 that closed the city for over a week.  He called a newscast, looked directly into the camera and said something like, “I am not asking you to stay off the roads.  I am telling you that your car will be impounded and you will be put in jail.”

Needless to say, I didn’t hear of anyone going against that “request” until the state of emergency was over.

Are You a Real Estate Professional?

Might seem like a silly question if you’re a real estate agent.  However, if you’ve got real estate investments, you really need to pay attention to whether or not the IRS thinks you’re a real estate professional.

If you haven’t heard about the tax issues coming up in California related to real estate professionals and investments, now would be a good time to get up to speed.

Evidently, there have been some audits in California where the IRS took the position that in order to be a real estate professional, you must be involved in “brokering” real estate transactions.  And, of course, only your broker does that according to the California IRS auditors.

Why is this important?  Well, because if you are a real estate professional, you can deduct any losses you experience on real estate investments from your income.  If you’re not, you can’t.

You May End Up Being Wrong!

While the fight in California is still ongoing, if the IRS definition used in those cases stands, it’s very likely that the IRS will increase its audits of real estate agents, especially if those agents own real estate investments.

Get more information and links to updates from this Realty Times article written by Diane Kennedy, a well-known tax strategist.

In the world of foreclosures and sloooow moving home sales, some people are getting extremely creative in coming up with new and different ways to sell homes.  I just came across two in the last few days.

You might have heard about this idea since it was featured on Good Morning America.  In some of the harder-hit foreclosure markets, some brokerages have started giving bus tours to see foreclosed or bank-owned homes.  It sounds like a broker caravan, except everyone rides together, and the riders are consumers, not professionals.

But, if there are a lot of homes for sale and you have a number of bargain hunters in the area, I can see where it would be a lot more efficient than running folks around one at a time.

You can learn more by reading this Realty Times article.

The other idea is, well…  I’m not sure how serious this one is, but it might actually work.  A new reality series is starting soon staring one of the ex-Bachelors.  Yes, you know, the man who gives all the women roses until he asks one to marry him, then they break up after the show is aired.  So, it sounds bad starting off, given who’s involved. 

The show is called “Date My House“.  The host takes a house that needs to be sold, stages it, then invites potential buyers to spend the night.  I’m not sure if the show is geared toward a house being flipped or if they will do this as representatives of the homeowner, but I thought it was a very unique idea.

We know that one of the purposes of staging is to de-personalize the house so that prospective buyers can envision themselves living there.

Looks like this show takes that concept a bit further by letting the buyers actually experience what it would be like if they lived in the house.  At least for a night.

So, what do you think?  Too over the top?  Or just what the slow markets need to shake them up a bit and get buyers to make a decision?

On March 29, 2008, Join the World for Earth Hour

At first I was confused.  I saw some information about a conservation event sponsored by the WWF.   What, I wondered, did wrestlers have to do with conservation?  Silly me.

WWF is the official acronym for the World Wildlife Foundation.  They are sponsoring Earth Hour, and here’s the official description:

“Created to take a stand against the greatest threat our planet has ever faced, Earth Hour uses the simple action of turning off the lights for one hour to deliver a powerful message about the need for action on global warming.

This simple act has captured the hearts and minds of people all over the world. As a result, at 8pm March 29, 2008 millions of people in some of the world’s major capital cities, including Copenhagen, Toronto, Chicago, Melbourne, Brisbane and Tel Aviv will unite and switch off for Earth Hour.” 

Learn More and Sign Up as a Supporter for Earth Hour!

Here’s another opportunity to make a difference, even if it’s just saving one hour of electricity.  How simple is that? 

If you want to see where there are supporters around the world, visit the globe of lights at EarthHour.org.  

Wow.  An hour without electricity.  Besides helping with the environment, it’s kinda fun to think about how to use an hour of total peace . . .

I’m sure you’ve had the experience.  You’re in a public place, you need help, and there are no helpers to be found.  It’s just one of life’s minor annoyances, really.  But, the situations it gives rise to can be fairly amusing.

I have been the source of amusement.  One time I was in a restaurant where it was obvious that it was not a “seat yourself” affair.  A gentleman who looked to me just like a maitre d’ was standing next to the podium surveying the room.  After a moment of being ignored, I said “Is there a long wait?”.  The gentleman turned and grinned at me.  “Ah,” I said, “I bet you don’t work here, do you?”  And, of course, he didn’t.

And, other people have been the source of my amusement.  I was once on a long business flight and took a walk around the double-aisle cabin to stretch my legs.  As I was passing another traveler, he raised his hand and said, “Excuse me, but where is the switch for the reading light?”

Part of my brain started to form a sentence explaining that while I was wearing a navy blue suit, I wasn’t employed by the airline.  The other part of my brain decided that was really too much trouble, so I just showed him the switch, asked if he needed anything else, and moved on.  I have always wondered what he thought about the airline employees’ work ethic when I reached my seat in the opposite aisle and sat down!

The all-time winner of the “does anybody work here” award, however, goes to an anonymous Walmart shopper.

A friend of mine retired early and wanted a few hours of work a week.  She became an employee of a cosmetic company.  Her job is to reset the displays of cosmetics in drug stores and big box stores like KMart and Walmart.  It works out just fine - she has the additional income she wants, and just works a few hours a month.

Beyond the tedium of the job, there is one major problem:  people always assume that she works for the store she’s in.  She even wears what looks like a lab coat with the logo of the cosmetic company on it, but that doesn’t seem to deter people from asking her all types of questions, none of which she knows the answer to.

One day a woman stopped to ask her where something was located in the Walmart store in which they both stood.  My friend patiently explained that she would love to help, but said ”I don’t work here.”  Guess that was the last straw as far as the shopper was concerned.  She fixed my friend with a withering glare and growled:

“That’s just GREAT!!  No one who works here is working, and the only person who is actually working doesn’t work here!!!”

I know several agents who live in resort areas where a large part of their practice focuses on the buying and selling of vacation homes.

In case you haven’t seen the recent ruling by the IRS, you’ll be glad to know that vacation homes can be used in 1031 exchanges, assuming that the applicable restrictions are adhered to.

There’s an article at Realty Times that will explain the ruling in more detail.  But, it is good to know that with some restrictions on the length of time the property is held and how it is rented out, for example, vacation homes can be considered investments!

And, the rest of you, too!