Industry Visionary Interview

Stu Siegel founded eNeighborhoods with the vision of compiling information about every neighborhood in the USA and making it easily accessible to the real estate industry. Today, eNeighborhoods has truly become The Neighborhood Info Experts™, providing what have become industry standard tools to enable easy access to all the information needed during the home buying and selling process.
Click to email Stu

Voices of Women Interview

Shari Chase brings something very special to Lake Tahoe.  In founding Chase International over 20 years ago, she established the notion of finding exceptional properties for exceptional people.  “Satisfying people’s needs is easy”, says Shari, “we listen to our clients and use the most effective resources for marketing luxury real estate.” 
Click to email Shari

Houston Home Buyers & Sellers Use the Internet

According to a study released June 22, 2006, by Houston Association of REALTORS® (HAR), half of Houston home buyers & sellers used the Internet last year as part of the process. The expectation is that this number will dramatically increase in the coming years.

The University of Houston Center for Public Policy conducted the survey of Houston buyers and sellers on behalf of HAR.

Most of the buyers used the Internet for information gathering than as a substitute for a real estate agent. Lorraine Abercrombie, chairwoman of HAR, says the value REALTORS bring to a seller or buyer is the local market knowledge and that they are skillful negotiators.

Survey Highlights:

• One-third of buyers who used a REALTOR®  rated knowing the REALTOR®  or having used them before as the most important reason for choosing them
• 57% of buyers expected their REALTOR®  to respond to their communication within two hours
• 92% of the sellers who used the Internet would use a REALTOR® again
• 75% of sellers who used the Internet were very satisfied with their RELATOR®  vs. 57% of sellers who did not use the Internet
• Half of sellers & buyers used the Internet as an important part of selling or buying a home
• 40 percent of sellers who used the Internet as part of the home selling process used HAR.com
• Seven in 10 sellers who used the Internet to sell their homes used it to post photos of the home
• 71 percent of buyers who used a REALTOR® accessed the Internet before they decided to buy a home
• 81 percent of buyers who used the Internet used it to learn about price

Excerpted from The 2005 HAR Survey of Home Sellers & Buyers

Fed Rate Hike Near End, Says Bank Economists

Fed Action, Slowing Economy will Cause Inflation to Moderate

WASHINGTON, June 22 –The Federal Reserve is expected to raise interest rates a quarter point at the next FOMC meeting in the face of continuing inflationary pressures, the American Bankers Association Economic Advisory Committee said today.

“The Committee forecasts the economy to grow at a 3 percent rate – at best – for the remainder of the year,” said Robert T. McGee, EAC chair, chief economist, U.S. Trust Company, New York, N.Y.  “This slowing should give the Fed some breathing room to allow the cumulative effects of previous rate hikes to set in.”  

The Committee believes that the Fed is likely to stop at 5.25 percent.  However, the recent pick-up of core inflation has injected a new element of uncertainty and could move the Fed to a further increase later this year. 

Consumer spending growth will average less than 3 percent as elevated oil prices and higher interest rates squeeze discretionary income, said the Committee.  Moreover, housing will be less supportive of consumer spending going forward. 

The economists do not see a dramatic, disruptive rise of interest rates, with short- and long-term rates firming up only about one-third of a percentage point by the end of next year.  According to the forecast, conventional mortgage rates will reach 6.8 percent in 2007. 

The full Economic Consensus and Regional Economic Forecasts are available at http://www.aba.com/EP/EP_EACommittee.htm .

Copyright© 2006, American Bankers Association.

 The Cost of Gas isn't the Only Thing Effecting
Your Bottom Line

If you are in business today selling a product or service, you should be asking yourself: "What is the most cost-effective method to grow my business?"

Let's consider several basic principles of business:

1. If your business isn't growing, you are not in business. You have a hobby!

2. In order to grow your business you must stay top of mind to your customers and members to create repeat business and referral business.

3. To stay competitive, you must decrease marketing costs per customer and member acquisition.

OK, so how can I grow my business, stay top of mind and decrease Acquisition Costs?

The solution is easier than ever before. We are living in the Internet Age where business communication is critical to business growth.

I'm sorry, but you can no longer depend on hanging your shingle outside, listing your services in the Yellow Pages, and direct mail as ways for buyers to identify you and want to do business with you. It just isn't happening! Get over it. Adapt, because your customers have!

I know you have heard this over and over again, but if you plan to stay in business today, you must learn how to harness the power of online communications or find a hobby.

Go ahead and say it..."I have a Web site, but I don't see any signs of decrease in costs or an influx of customers."

The Internet is more than a Web site. Did you know it is very personal? Let’s take a closer look and find a quick, easy and cost-effective solution for you to grow your business.

Online Marketing, the phenomenon of eMarketing, is, in essence, the age-old practice of direct marketing updated in modern dress. More and more marketers looking for the most effective way to reach customers & members are turning to email.

Email, the Internet's most popular application, has quickly become a communication standard, with both the number of email users and overall usage rates continuing to grow exponentially.

What does this mean to you? It means that by using email newsletters, you are able to communicate your sales message to thousands of customers & members and prospective customers & members at a minimal cost.

The next step is recognizing the keys to a successful online marketing campaign:

1. You need to gather opt-in email addresses at every point of contact with your customer & member and create your database. (If you need help, email me.)
2. Develop interesting and educational content to motivate your audience to read your newsletter and respond to your call for action. (FrogPond.com is free resource of business articles.)
3. Find a hassel-free email marketing solution that includes managed hosting and technical services, content and full services to create newsletters.(Click for details)

WHY? Becasue...

• Email is THE killer application of the Internet.
• It is person-to-person communication.
• Email is always a call to action.
• Online marketing is an inexpensive marketing tool with high response rate when compared to print.
• Expect decreased marketing costs per customer & member. 
• Expect increase number of loyal customers & members by giving them valuable information on a regular basis.
• Expect increase in repeat business by putting the right offer in front of the right person at the right time.

Here's the solution that's right for you:
FrogPond Publisher Lite

Your Online Marketing solution is now available for $199 per month. Click here for details and sign up.

Let me help build your business and save you money!

Call me for a demo today! 800-704-FROG(3764)

Promote Yourself with Pizzazz

Most of us have been brought up with the notion that we should not brag about ourselves and our accomplishments. Though this is true in your personal life, it isn't in your professional world. If you do it right, it is not bragging at all. It is merely qualifying you as an expert in as a real estate professional.

Here are ways four fine ways to show off your stuff professionally without being considered a braggart:

Write and publish articles. What are your business specialties? What new laws do your customers need to know about? Write brief articles addressing topics of interest to your target market. Can't write? No problem. Most people whose name is on articles like these didn't actually write them. They hire ghostwriters to work with to make them look good and you can too. 

Speak in public. Make yourself available to groups for speeches and presentations. These are great networking and prospecting opportunities because you are instantly qualified as an expert. Yes, public speaking is right up there at the top of the list with death as things people are most afraid of. You can conquer your fear of speaking before a group with some time invested in Toastmasters. That will give you a big advantage over your competition who is still scared to talk.

Show off Your Clients' Successes. One of the most polite and effective ways to demonstrate your abilities is to tell stories about your customers' challenges and accomplishments and how your role was valuable in those circumstances.

And….written testimonials from your clients are a wonderful addition to your website.

Give Away a Valuable Product. How about a simple yet informative checklist, tip sheet or a 'how to' handout? Make sure what you give away is tangible so prospects can share it with their friends.

You have permission to reprint this tip in your publications. Please include the following Resource Box:

Copyright© 2006, FrogPond.  All rights reserved. Susie@FrogPond.com; 880.704.FROG(3764); FrogPond.com
 

How to Get More Hits

Getting people to your Website that are not already in your database is the job of modern marketing. Here are five fabulous ways to drive more traffic to your home page. 

• Trade links or banner ads with complementary Websites so prospects can click right through to you.
•  Create an online community. An active blog or a chat group is a great way to keep visitors coming back to your site for more. Chat in the group and answer questions to establish yourself as an expert. 
•  Update some part of your home page regularly to keep visitors returning to see what’s new. Perhaps it’s a statement that says the new listings are added daily or a way to identify something new to the site in a dynamic graphic way. 
• Write and submit articles to online publications and put your business information and hyperlink to your website at the end of the story.
• Give away a free, valuable download. Allow the visitor to invite a friend to your site to take advantage of your offer as well.

You have permission to reprint this tip in your publications. Please include the following Resource Box:

Copyright© 2006, FrogPond.  All rights reserved. Susie@FrogPond.com; 880.704.FROG(3764); FrogPond.com

To request information about royalty-free articles and publishing your online magazine and newseltters, call 800.704.FROG(3784) or email Susie@frogpond.com today. Take our Tour.

         Case Study

We hear about it everyday: Technology. Transaction management. The paperless transaction. Everything online, and in real time. And of course, easy-to-use.  But when it comes down to it, do we really know what aspect of technology is most important for succeeding in today’s real estate market?

Here’s what we found at First American Residential Group during a case study of a new client utilizing our transaction management platform.

Our client began utilization of First American Residential Group’s transaction management platform (Transaction Manager) in November 2005. Since then, they have focused on two tasks: steadily increasing their new transaction count in the system and creating processing efficiencies for their operation. 

During the first few months of the implementation, not all transactions were processed utilizing Transaction Manager.  However, once internal processes were established within the company, all files were transitioned into Transaction Manager.  The transaction count jumped from 687 opened files in November 2005 to 1,431 opened files by December.   During the month of January 2006 the number of files entered into the system increased by more then 13% to 1,631 new opened files.  Over a four-month period, the active transaction count grew to over 3,800 files being processed by the month of February. 

All transactions processed and closed in the system included uploaded documents, making it easier for all departments involved in the file review process to access the information without the hassle of passing a paper file around the office. In addition, the storage spaced needed to maintain those files has greatly diminished. Along with the file review, all transaction files were imported into a back office accounting system, streamlining the file entry process and saving the accounting department processing time.

During our case study, we found that there were a number of factors that contributed to the successful implementation of Transaction Manager for this client. And these factors aren’t just attributable to our technology; they also indicate some aspects of technology –and implementation - that are key for succeeding in today’s real estate market.

• Management buy-in. The transaction management platform was pushed from the top of the organization down.  There was no option for the support staff in utilizing the system.  The management team altered the company’s workflow and processes to work with the software rather then asking that the software be adjusted to their current process.
• 100% utilization of the technology. In our case study, 100% of the company’s transactions were input into the system.  This allowed for everyone involved to have visibility of every transaction in their operation, at no additional fee to their real estate agent for this service. 
• Vision of the future. Flexibility in the operation to adapt and implement new technologies and that will make your business more efficient.  This requires a willingness to make operational changes to make various software applications work in your business environment.
• A training environment that is ideal for the adoption of new technology. During the implementation, a number of users were trained on the administration portion of the system. Those users are now proficient enough with the software to conduct end user trainings within the administration group.  This allows for the company to continue training new staff as they have turnover.
• Feedback to the technology provider. Request new functions you would like to see in the system, but don’t let the lack of that function slow the adoption and use of the software.  Understand that the current system allows performance of all the functions to make your business more efficient today; future enhancements to the system will take your company to the next level.  If you wait for availability of a new function, you will only put your business further behind in the automation of processes.

For everything you need in real estate* - all from one highly reliable resource – rely on the experts at First American.

Learn more by calling 866-397-3286 or visit www.residential.firstam.com.

*Some services are not available in all areas. Check with your local First American representative for details.

Is Your Life Balanced?

Here's a quick question. If someone asked, would your family say that you are a workaholic?  If you even had an inkling that the answer to that question would be 'yes', here are a seven simple suggestions to help you find balance in your life.

• Decide what your working hours will be each day and honor them.
• Dedicate down time to relax even if no one else is around and take it. 
• Schedule a few hours off at least once a month to do whatever you want. Leave your computer and cell phone behind.
• Take at least two ten minute breaks daily to walk.
• Walk over to a person's desk to communicate when possible rather than email.
• Take time to enjoy your meals rather than seeing them as a distraction from working.
• Turn off your cell phone during meals and meetings.
• Prioritize what is important in your life and follow your priorities.

Remember: No one has ever been on their death bed regretting that they hadn't worked more hours.

You have permission to reprint this tip in your publications. Please include the following Resource Box:

Copyright© 2006, FrogPond.  All rights reserved. Susie@FrogPond.com; 880.704.FROG(3764); FrogPond.com 

To request information about royalty-free articles and publishing your online magazine and newsletters, call 800.704.FROG(3784) or email Susie@frogpond.com today. Take our Tour.

FREE HomeHub iSafe Home Inventory Promotes Your Brand While Protecting Your Clients From Loss

When a family loses their home, they lose more than just four walls and a roof over their head.  They lose their heritage, their memories, and the possessions collected over a lifetime.  While there is little that can be done to ease the pain of such a loss, a family can be better prepared.  Similar to insurance, having an up to date home inventory stored in a secure place, is one of the simple things that can make recovery easier and less painful.

Sign up today for 100 Free HomeHub iSafe to give away.

Hurricane Season won't wait for you!            

This is a "No Brainer!"

HomeHub iSafe is a full featured, secure home inventory program which you give to current and future home owners at no cost to you or the consumer.  So that you are recognized as the provider of the service, each program is branded with your picture (or logo) and contact information.  You can also generate increased website traffic by placing the program’s login script on your website.

We are always looking for new reasons to touch our clients in a way that doesn’t appear to be self-serving.  This is an opportunity to demonstrate your sincere concern for their wellbeing.  The program is simplicity in itself.  Sign up for your allotment of free sites, upload your picture and enter your contact information, and then give it away to clients and prospects.  The program requires absolutely no maintenance from you to support the program, and no fees to be paid at any time, now in the future.

Here's how it works: Each agent and broker is allowed to register to receive free licenses to give HomeHub iSafe to 100 consumers.  This limit is to insure that no single agent monopolizes an area, and that every agent and broker, regardless of size, has an equitable opportunity to participate in the program. 

Don't let another agent get a jump on your Farming Area! Sign up today!

Those who desire more licenses may purchase them for a one-time charge of 50 cents each, half of which will be donated by Adigida to the American Red Cross to support their relief efforts.  Also, those who are interested in very large bulk purchases can purchase a private-labeled version of the software.

The software makes creating a home inventory fun and easy, and once the inventory has been completed it is easy to keep it up to date and to print out reports.  HomeHub iSafe provides a secure, password protected site where consumers enter details for possessions, and can track possessions that are in multiple homes. Consumers can document a possession’s cost and purchase information, where it is located, its current value, and upload multiple pictures and scans of receipts.  They can also record their insurance policy’s coverage and agent’s contact information, print reports of their possessions, and easily reclassify them from one property location to another if they move.  Their data can be retrieved at any time from any computer with an Internet connection.

More information is available on Adigida’s web site at www.adigida.com.  With just a click you can also sign up right here for your allotment of 100 free HomeHub iSafes.

Bonus Tip: Looking for a Closing Gift? Work with the Title Company to scan in the Title Docs into the HomeHub iSafe system at Closing.

Process Your Paperwork

Are you effective in the way you manage your paperwork? That doesn’t mean is your desk clean or messy- some of the most efficient people organize in piles and are able to locate a requested item fifteen times faster than someone with a pristine desktop.

The biggest rule of effective paperwork processing is: Touch it once.

When you are ready to address your pent-up paperwork, a key to success is to schedule time for it as a project. There are several ways to do this. Either decide that you are going to spend 15 minutes a day doing it or set aside a big chunk of time to just blaze through all of it.

Next, create places to put it. Have a spot for papers to be addressed now, papers to move, a stack of file folders ready to go and your file drawers ready to spring into action, your shredder turned on to dispose of sensitive documents, and a place to put paper to be recycled.

Start with the oldest piles. That is the easiest way to begin as most of that paper will be inactive and can either be filed or tossed. Analyze each item and put it away in one of the places you’ve set up for paper management. Remember, touch it only once.

Here are two critical sort criteria:

1-     Determine if you have a copy of this item somewhere else, like in your email, or can you access a document elsewhere if and when you need it. If yes is the answer, toss it.

2-     Ask yourself, “Why do I need this?” The answer will determine where that paper goes.

When you use these simple sorting techniques and don’t overwhelm yourself with the processing of papers, you are likely to feel a sense of liberation from those piles lurking in your office.

You have permission to reprint this tip in your publications. Please include the following Resource Box:

Copyright© 2006, FrogPond.  All rights reserved. Susie@FrogPond.com; 880.704.FROG(3764); FrogPond.com

To request information about royalty-free articles and publishing your online magazine and newseltters, call 800.704.FROG(3784) or email Susie@frogpond.com today. Take our Tour.

7 Tips To Save Time By Using Your Computer by Barbara Myers

1.  Spreadsheets.  Use a spreadsheet to make lists, keep track of projects and people.  Use one to follow up on delegated items.

2.  Form letters.  Develop a form letter for your sales proposals, thank you notes and frequently asked questions.  It's less time consuming to tweak a form letter than it is to start one from scratch.

3.  E-Mail.  Communicating by e-mail is simple and fast.  You'll never play phone tag again!

4.  Fax Modem.  Fax documents with one tap of the send button.  Avoid walking to the fax machine, searching for the proper fax number, inserting the paper and dialing.

5.  Contact Manager Program.  Set reminders for yourself.  Keep addresses and phone numbers organized and readily accessible.  Store valuable information on each contact.

6.  Search the Internet.  Find the information you need quickly.  Shop.  Research.  Learn something new every day.

7.  Scanner.  Scan documents into computer files.  As long as the files are organized, you'll be able to access them quicker than paper files.

To request information about royalty-free articles and publishing your online magazine and newseltters, call 800.704.FROG(3784) or email Susie@frogpond.com today. Take our Tour

Most Benefits Aren't                   by Art Sobczak

At a stoplight I glanced at the pickup truck next to me. Typical construction work truck. Underneath the company name, in big letters, was its motto: "Practically perfect vinyl siding."

Huh?

Would I want siding that was just "practically perfect"?

Is there a discount if it's just practically perfect?

I understand that maybe if you give this some thought, perhaps even pulling out your Webster's, one could argue that they have another intended meaning for practically perfect. But the first impression that entered my mind was negative.

Do you have a company slogan or motto that means nothing, sounds goofy, and perhaps could be interpreted as negative?

And worse, do you use it in your sales or prospecting calls?

I see some companies that hire sales reps, then give them their catalog or sales literature and essentially tell them to "Say these things" on the phone. Then they call and recite inanities like,

"We have been serving the entire metro area with quality workmanship since 1988," or,

"We unfold the technology of tomorrow, today."

Oh, now I have a clear picture of how that will help me.

The fact is, most "benefits" are not.

That's because,

-most "benefit" statements are not descriptions of results for the listener or reader. They talk about products, services, and slogans, and, 

-a benefit is only a benefit if the person hearing it perceives it as one at that very moment.

I've often discussed the importance of your value statement over the past 23 years, and it's
just as important (actually more important) today.

Leave no doubt about what you can do for the listener.

For example, I heard this radio ad for a construction contractor, and it could also be
used very persuasively when talking with prospects:

"We specialize in working with landlords whose properties failed building inspections and fix
them so they pass."

If I'm a landlord in that situation (and I have been) that talks about a pain, and a solution. The result.

Action Item: Right now, analyze your own "benefit" statements. Put yourself in the position of your prospects and customers. If you heard those statements would you be able to say "So what?"

Or, would there be no doubt as to the results you might get. And THAT is what makes it a benefit.

To request information about royalty-free articles and publishing your online magazine and newseltters, call 800.704.FROG(3784) or email Susie@frogpond.com today. Take our Tour.

Need a Coach?

Many of you have emailed requests for Broker and Agent personal coaching. I recommend you contact Rich Casto & Company. 

Selling the Sizzle by Brian Quinn

Have you ever been to a Mexican restaurant whens patron at the table next to you receives their "sizzlin' fajitas"? You can just hear the sound now... I have always thought that the sizzlin' part of the fajitas had a lot to do with the platter's special appeal. All eyes in the restaurant turn to that crackling, smoking plate of spicy delights. But, if you have actually eaten well-made fajitas, they also do a fine job of satisfying your pangs of hunger--especially when accompanied by a margarita or Dos Equis!

In the media sales business, advertisers are increasingly looking for some "sizzle" in the media programs that you offer. In the magazine business, this can mean a promotional event tied into a print buy. In the TV business, product placements within the actual program ("Don't knock over that 32 oz Coke while you are gyrating to the song, Paula Abdul!!"). In the online business, many advertisers are asking for all sorts of sizzle in the form of podcasts, RSS feeds, wireless, etc.

So, what is your organization's strategy for selling sizzle? There is no doubt that the right kind of sizzle can help you take more money off the table and increase your market share from an advertiser's campaign. I recall the lengths that Rolling Stone went to, early in my career, in order to secure a print buy from Doritos. While RS's demo/psychographics matched up perfectly with Doritos target, there was a little problem: Doritos only did TV advertising; no print budget, no print creative. So, RScame up with the "Rolling Stone/Doritos College Comedy Tour"... Six comedians, traveling to twelve college campuses, and..... 12 ad pages in RS!

So, if you are ready to make some real sizzle part of a successful sales strategy, here are some tips:

Don't overvalue/overcharge for the actual sizzle part of the program. Build most of the cost of the program into media outside of the actual sizzle component. In the event that the sizzle turns into fizzle, at least advertisers will feel good about their measurable media investment.

A good portion of the media should include "co-branded" ads that help drive traffic to the sizzle area.

The best sizzle are programs that your editorial staff supports and helps create. If this program is developed by your editorial staff, the advertiser loses control over the content, but you can end up with a more high quality and popular program. If you need to create the program independent of your editorial staff, be sure to invest in the highest quality writers and designers you can get,

Does the sizzle have a natural fit with your media brand or are you simply creating something to appease the client? Use discipline here. Only create something that has a good chance of resonating with your audience and does not feel like a "sellout."

Sizzle programs developed with creativity and discipline can be the most fun part of our business. And they give your clients something they can feel ownership in and are proud of.

But, remember: the main reason that you went to that Mexican restaurant was because you were hungry.

Brian Quinn is Vice President-Advertising, Dow Jones Online.
(c) 2006 MediaPost Communications, 1140 Broadway, 4th Floor, New York, NY 10001

Hugs, The Frog

Susie Hale, President
Frog Pond
FrogPond Publisher
800.704.FROG (3764)
susie@frogpond.com

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