Cincinnati Real Estate & Mortgage Market Update

2008-07-15T07:37:00.001-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

"Remax" Ranks Second Among Real Estate Search Terms According to the Hitwise Internet usage statistics for June, "remax" holds steady as the No. 2 real estate search term, remax.com ranks No. 4 for real estate Web sites, and a California brokerage's Web site is named among the "Fast Moving."

Hitwise, a subsidiary of Experian, has been collecting and analyzing data directly from Internet Service Providers (ISPs) since 1997.
The search terms in the latest results were ranked by volume of searches that successfully drove traffic to Web sites in the Hitwise Business and Finance - Real Estate category for the four weeks ending June 28, based on U.S. Internet usage.

Hitwise Real Estate Search Term Rankings 1. realtor.com - 1.64 percent 2. remax - .81 percent 3. zillow.com - .56 percent 4. zillow - .39 percent 5. real estate - .38 percent 6. apartments - .37 percent 7. century 21 - .33 percent 8. realtor - .31 percent 9. homes for sale - .30 percent 10. www.realtor.com - .29 percent

In addition, Hitwise confirmed that remax.com was No. 4 among the most popular real estate sites in June.

Hitwise Most Visited Real Estate Web Site Rankings 1. realtor.com - 4.46 percent 2. Yahoo Real Estate - 2.70 percent 3. ZipRealty - 2.65 percent 4. RE/MAX - 2.47 percent 5. Rent.com - 2.36 percent 6. Zillow - 2.30 percent 7. Homegain - 1.77 percent 8. ServiceMagic - 1.69 percent 9. Trulia.com - 1.63 percent 10. Apartments.com - 1.62 percent

Taking Advantage of Short Sales

2008-07-07T16:24:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

And the bad news just keeps coming- Home prices keep falling, foreclosures keep rising, a gallon of gas keeps getting more expensive, food costs keep increasing, the stock market keeps falling, and we all keep wondering when will it end?

The market we have this year is the same market we'll have next year. Things are not going to change over night. But the good news is that the resourceful will survive. We just have to adjust our strategies.

In past Blog postings I talked about foreclosures, how they're a reality today and could be a part of a successful real estate business. Now, I'd like to remind you about Short Sales. Many lenders are realizing that they'll save money the sooner they can get a property off the books. So, when they fear a homeowner may be headed for foreclosure they may fix a sales price lower than the mortgage balance, and put the property on the market for a quick sale.

Short Sale opportunities are on the rise and if you have clients that are fearing foreclosure, encourage them to talk to their lender. Did you know that two thirds of homeowners in default never even contact their lender?

If the lender does agree to a Short Sale, it can work to everyone's advantage. The homeowner avoids foreclosure, the lender avoids the carrying costs, the neighborhood avoids another abandoned property on the block and a professional real estate agent can provide a beneficial service to a grateful consumer.

RSN just finished production of a very timely course, "Foreclosures, Short Sales and REO's." This very informative program is available on DVD and can be ordered here on Mainstreet in the Education Registration area. This course can also count toward a FSSAR certification.
Since this market will be with us for a while, I would recommend you learn how to handle these types of transactions. You'll add another tool to your tool box, help yourself through this turbulent time and also help reduce this tremendous inventory.

If you've had experiences in Short Sales and would like to share them. I'd like to hear from you and let everyone benefit from what you've learned.

The FHA Time Bomb

2008-06-23T22:19:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Is this how a democracy subsidises business??

Well, this certainly is embarrassing. The Federal Housing Administration – the very agency the Bush Administration and Congress trumpet as the solution to the mortgage crisis – has announced that it suffered a $4.6 billion loss last year. This is one of the worst financial performances ever for the government's multibillion-dollar mortgage insurer.

We'd hope this news might cause Congress to reconsider its plans to turn over some $300 billion of troubled loans to an agency already in financial distress. No such luck. A bill passed by the House and now being debated on the Senate floor would expand the FHA portfolio to about 1.5 million mostly high-risk subprime mortgages. So at the very time private lenders and investors are fleeing subprime markets, Congress wants taxpayers to dive in.

The Senate has also folded into its housing bill a separate FHA "modernization" that would more than double the agency's loan limits while lowering downpayment requirements. Together these maneuvers could put taxpayers on the hook for tens of billions of dollars of additional mortgage losses.

One reason the FHA lost so much money was financial mismanagement. In 2000 in the final days of the Clinton Administration, HUD Secretary Andrew Cuomo tried to expand FHA's share of the mortgage insurance market by lowering its premiums by one-third, to 1.5% from 2.25%. The Bush Administration never reinstated the more prudent premiums. If it had, FHA's losses would have been zero or close to it.

The biggest reason the FHA lost so much money was a scam called the "downpayment assistance program." Under this program, builders or mortgage originators make a loan to low-income homebuyers, and then arrange for a third party to pay the downpayment, so the loan qualifies for FHA insurance. This means borrowers have no skin in the game, and in many cases have negative equity because the value of the homes are often inflated.

Borrowers could bet on the upside of the market at no cost to them. And thanks to the 100% FHA insurance against default, lenders were guaranteed full repayment whether or not the loan is ever repaid. Until recently, lenders even got a tax write-off for their "charitable contribution." Everyone won – except the taxpayer. Now even the FHA finally agrees that this program invites widespread fraud and wants to end it. But Barney Frank, who heads the House Financial Services Committee, is insisting that it continue.

One lesson from the debacle is what happens with low or zero downpayment FHA loans: They go bust. The Government Accountability Office finds that default rates are about three times higher than on conventional loans. So why in the world is Congress promoting a new FHA bill to lower downpayments to 3% and in some cases even to zero?

Here's another brain twister: Median home prices have fallen to $202,300 from $219,900 with more declines on the way. So why is Congress raising FHA mortgage limits to as high as $729,000 in some high-income areas? Mr. Frank's House bill would allow the FHA to guarantee a loan up to 125% of the average home price in any area. The FHA's mission is to help low- and moderate-income households become homeowners. Encouraging moderate-income families to buy $700,000 homes is how the subprime crisis began.

The most reckless provision now on the Senate floor would allow the FHA to take over risky subprime loans from private banks. When FHA Commissioner Brian Montgomery announced the agency's losses last week, he warned that Congress's subprime loan bailout could plunge FHA deeper into the red. Senate Banking staffers tell us that lenders have all but admitted that, if the bailout becomes law, they will dump their worst loans onto the FHA.

Among the likely dumpers: Countrywide Financial, which gave Senate Banking Chairman Chris Dodd a bargain mortgage. The Congressional Budget Office predicted this month that 35% of these loans could go sour.

Yet Congress is putting the political imperative of "doing something" about housing above the risks of tens of billions of dollars in taxpayer losses. The White House has waxed and waned in its support for this exercise, and late last week issued a statement saying President Bush might veto it. He could do worse than heed Kentucky Senator Jim Bunning, who warns: "As soon as we finish this bailout for banks and borrowers, the next taxpayer bailout will be of the FHA."

Cincinnati Realtors

2008-06-17T07:38:00.004-04:00

CINCINNATI'S RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Cincinnati Realtors< Thinking of cutting your marketing efforts? One expert argues that a faltering economy is a great excuse to expand them! Do your Customers know you or your company?

In a sputtering economy, small businesses are often quick to rein in their marketing budgets. But that may be a shortsighted strategy. Glum economic times can be an opportunity for small companies to make inroads on their competitors' turf and re-energize their marketing efforts.
The Wall Street Journal recently spoke with Stefan Tornquist, research director for MarketingSherpa Inc., a Warren, R.I., marketing-research firm and unit of MECLabs Inc., about how small businesses can improve their marketing in a shaky economy and take advantage of some underused marketing channels. Excerpts of the discussion follow.

SELL YOURSELF Stefan Tornquist of MarketingSherpa Inc.
Moving Online

THE WALL STREET JOURNAL: Is the slowing economy affecting how businesses conduct marketing?

MR. TORNQUIST: Based on a survey we did in late February and early March, the largest group of small firms -- those with 100 or fewer employees -- surveyed are sitting and waiting to see what happens before changing their budgets. The second-largest said, "We think this is an opportunity," and the third-largest group is pulling in [marketing budgets].

The caveat is that people who see the down economy as an opportunity aren't spending their money in the same way. They're taking money out of traditional advertising and direct-marketing campaigns and putting it online. That was a movement that was already taking place, but the economy is accelerating the trend.

WSJ: What challenges does the current economy present?

MR. TORNQUIST: The challenge is one of resources, of course, and matching messaging for their customers. Companies that have sold around [the idea that their products deliver high quality for a somewhat higher price] have to figure out whether that message will work out with their customers now. Maybe a better message is the longevity of the product and long-term value rather than something that implies high cost. Smart companies take a downturn as a reason to look at current customers and re-evaluate how these relationships can be expanded.
businesses often can't afford the big-ticket security solutions big companies favor.

• The Way WSJ: What marketing strategies should small companies be looking at right now?

. TORNQUIST: I'm of the opinion that it's a good time to increase a brand imprint [by buying print or radio ads, or banner ads online, for instance]. A lot of small companies see branding activities as a waste of money. If I have a paid search ad, I see direct results. That's something about the Internet's effect on advertising -- if you don't get something immediately, you assume it's not working.

What we lose sight of is that brand activity makes us trust a company and buy when we see their ad later on. One of the greatest challenges for small companies is to make a name for themselves, and a downturn actually provides an opportunity to do that because it tends to suppress the branding activity. There's absolutely the opportunity to leapfrog competitors, especially if the local leader is using the downturn to curtail their activities

Cincinnati Mortgage Market update

2008-06-02T22:35:00.001-04:00

Cincinnati RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Mortgage Market Update:

Effective June 1, Fannie Mae and Freddie Mac will reverse their December policies and reduce their down payment requirements. The government-sponsored mortgage financiers said they will require minimum down payments between 3 percent and 5 percent for loans they guarantee. This comes as welcome news to buyers looking to take advantage of low interest rates and affordable house prices. Mortgages rates climbed in late May, hovering in the high 5 to low 6 percent range for a 30 year fixed-rate mortgage.

The National Association of Realtors (NAR) reported an April slowdown in the Existing Housing Market, which was down 1 percent from March. As it stands, the NAR is anticipating an annual sales volume of 4.89 million homes for 2008.

Finance Q and A:

Q: What's the difference between being pre-qualified for a mortgage and pre-approved?
A: Being pre-qualified means you have talked with a mortgage planner about your finances, and based on your conversation, have an idea as to what you can afford. Being pre-approved, on the other hand, means your mortgage planner has confirmed your income and evaluated your credit report, and has approved your loan pending a home appraisal.

Home sellers prefer working with pre-approved buyers because there is less risk accepting an offer. If you are in the market for a home today, call your loan professional to get pre-approved.

Tip of the Month:

Given the recent activity in today's mortgage markets, homeowners everywhere are taking advantage of these historic low interest rates to refinance their homes. This is one of the best times in recent history to finance real estate. Contact your mortgage professional today to take advantage of these great rates.

Historic MLS Settlement

2008-05-28T21:39:00.000-04:00

Cincinnati's RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Many of you probably heard that the Department of Justice and National Association of Realtors. have just settled their long standing dispute regarding the competitiveness of Multiple Listing Service practices.

So, what have we gained after two years of government investigation and two and a half years of litigation? DOJ says that NAR will now "repeal its anticompetitive policies," and will promise not to be anticompetitive in the future. That's it, no more anti-competitiveness? I just don't see how this legal exercise will have much of an impact on our industry.

The government is not requiring the payment of any fines, nor the admission of any wrong-doing. The NAR IDX policy remains unchanged, their revised VOW policy will become permanent and MLS data will continue to be reserved for the use of professional real estate brokerages. No big news here.

The most significant result? The elimination of "opt-out" practices that allowed brokers to prevent their listings from being shown on competitors' websites. However, many brokers have long since realized that the widespread distribution of their listings is the most beneficial practice. At the same time, this settlement also says that a seller still has the right to control under what circumstances their listing may be shown on the Internet.

Over two years ago, we made the decision at RE/MAX that the best course was to provide the consumer with ALL available listings, without any online registration. Today, remax.com is the most visited website among all our competitors. The free marketplace decided where the best services could be found.

Of course, both sides are claiming victory, but I see the results of this settlement as more favorable to our industry. Most importantly, the NAR leadership did not back down. They fought the good fight and represented our interests very well. We should all be grateful for their unwavering commitment.

I think the real estate industry will move forward very much like it has in the past, regardless of this settlement. The marketplace will always decide what system works best and which companies will survive. I still see great opportunities in this market, and believe that RE/MAX is positioned to experience the very best the future has to offer.

Cincinnati Homes and Mortgages

2008-05-20T13:40:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Yesterday, several mortgage lenders issued three separate "rate sheets" in response to the changing mortgage market.

It was the fourth time in the last 6 trading days that mortgage lenders issued multiple rate sheets in a day, and continued the trend that started in mid-January.
The yo-yo nature of mortgage rates underscores the importance of making mortgage rate comparisons within a limited time frame.

Multiple quotes should be gathered with an hour of each other and, even then, it's prudent to ask your lender: "Has there been a mortgage rate reprice in the last hour?"

The current market volatility is in contrast to the "normal" environment of one-rate-sheet-per-day to which mortgage rate shoppers have been accustomed. But with the changing economy, we all have to adapt.

Mortgage rate quotes from this morning won't necessarily be valid this afternoon so if you're in the market for a home loan, be sure to do your shopping in a limited timeframe and don't forget to ask about the reprice.

(Image courtesy: City of Peterborough)

Cincinnati homes and mortgages

2008-05-15T15:35:00.001-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Hitwise Ranks remax.com No. 2 on Quarterly Top 10 List Based on share of visits among all U.S. Web sites in the "Business and Finance - Real Estate" category, remax.com is a Hitwise Top 10 Award winner at No. 2 for the quarter ending March 2008.

The Hitwise Top 10 Award recognizes Web sites from over 160 industries that are leaders in their field.

In March alone, remax.com received nearly 6 million hits. About half of them were direct, which means 3 million hits came from top-of-mind brand recall and consumers typing in "remax.com" to access the Web site.

Continuing efforts to increase visibility of remax.com through TV, print and radio ads, plus Search Engine Marketing strategies, put remax.com into the second-place position ahead of competitors such as homegain.com, realestate.com, century21.com and coldwellbanker.com. (Source: Carat and iProspect Monthly Report - April 2008.)

Cincinnati Homes And Mortgages

2008-05-12T15:12:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

Guest Blogger: Dave Liniger, RE/MAX FOUNDER

Has This Market Hit Bottom? May 12, 2008

If you're like me, you're getting a little frustrated with the media's reporting on the current housing market. It's a mess, a crisis, a disaster- I've heard it all. I understand that sensationalism sells, but the real problem is that the information reporters rely upon to make these dire assumptions is often inaccurate.

The good news is that some reporters are finally figuring it out! On May 1, MarketWatch carried a story written by Chris Pummer, a respected financial reporter, who contributes to many mainstream newspapers. In his report, "Home Price Data has its Flaws," he noted that the much relied upon S&P Case-Shiller Home Price Index might be giving "imprecise readings of price changes at all levels."

Pummer also noted that most surveys don't agree and that many are flawed by their assumptions, and are using negative hyperbole when describing our current market. It has also been reported that S&P had admitted that their report may "paint an incomplete picture." Really, you think so?

On May 6 The Wall Street Journal printed a guest editorial by hedge fund manager Cyril Moulle-Berteaux entitled, "The Housing Crisis is Over." His premise was that April 2008 could very well mark the bottom of this market, but he emphasized that a bottom doesn't mean that we'll instantly return to 2005, but that "the trend is no longer getting worse."

Moulle-Bertreaux bases his conclusion on the affordability of housing today, the price versus household income. He also says the so called "experts" who say the market has another 30% to drop are making a "simplistic analysis that is appealing on the surface, but is flawed for a variety of reasons."

I have always said that the housing market is like the stock market, no one can predict an exact high or low. At the same time, I am encouraged today by reports from our Affiliates around the country that lead me to believe we are near a bottom. It could take until the end of the year to know for sure if things are turning around, but in the meantime, we could certainly use more accurate and sensible reporting on the situation.

But tell me what you think? Have we hit bottom? What's it like in your market? Post a message to my blog and let everyone know how things look from your view point.
Also, I would encourage you to read the two articles that are linked above and pass the word - the sky is NOT falling down and there's never been a better time to buy a house. Dave
Copyright © 2008 RE/MAX International Inc. 5/12/08

Comments: (3)

Hi Dave, I love to read about great changes in the real estate market. And your blog is right on target that the market is starting to see signs of change. We are starting to see a change in the Tampa, Florida market area. We have seen a 27% increase in sales March over Feb 2008 in the Brandon/Riverview/South Shore area of Hillsborough County Florida our office market area. The Florida Associate of Realtors reported a 10% increase in sales for the State for the same time period. If this trend continues we should have a great home selling/buying summer. Ed Pichette, Broker/Owner, RE/MAX South Shore Realty, Riverview, FL

Hey Dave, Great read of your blog this morning. The following article appeared in our local newspaper this weekend "Sales Surge for Fourth Consecutive Month," by Zach Fox of The Californian. Several months ago I wrote an email to this reporter after he incorrectly quoted stats from our local MLS, regarding how "bad" it was. It was not as bad as he had indicated. I think after my email and subsequent conversation.this particular reporter has changed his slant on reporting news about Real Estate. This is the second article written by this reporter in the last 30 days, showing great positive news. (There was some negative news in the article, but the beginning and mostly throughout there was positive news, encouraging buyers to act now). I would encourage agents throughout the network to have similar dialogues with local reporters. David Weldon, RE/MAX Elite Team, Temecula, CA

Cincinnati 'Media Is Wrong About Housing Slump'

2008-05-06T21:40:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

Why buy a house now? You've been getting bad information. Here's why.

The financial press is worried that they might have gone too far - paralyzing the nation into recession by piling on housing. So they're finally beginning to question the indexes where they get their data, and whether the news is really as bad as it seems. Slowly but surely, headlines are changing from Don't Buy A Home Now to Is It Time To Buy?

We said it here first on Realty Times - that consumers aren't getting the full story. Indexes can be misleading because of the locations, prices, types of housing, and rates of increase they track.
In late April, Robert Shiller, founder of the Case-Shiller Index, announced that there was a good chance housing prices would fall further than the 30 percent drop during the Great Depression.
Shiller has plenty of reason to be negative - he makes money when people buy housing hedge funds, licensed with data obtained through his company Macromarkets LLC.

Now, finally, one brave journalist is writing that Case-Shiller is flawed.
In his story "Home-price data has its flaws," Chris Plummer of MarketWatch slammed both Shiller's Index and the Associated Press for being "grim reapers."

For the first time, S&P Index Committee Chairman David Blitzer "acknowledged his organization's overall and metro-market readings paint an incomplete picture."
No kidding. The index covers only 20 markets, heavily weighted to the most volatile metros in the nation.

Plummer also lampooned the AP for writing that "despite that index's limited seven-year history, home prices plunged by a record percentage at their fastest rate ever."
He also notes, "The glaring discrepancy in this case is that 17 of the 20 metro areas posted record annual declines, and yet 78 percent of the 330 metropolitan regions that the NAR tracks reported price increases ... ."

Bravo, Plummer. But the rest of the financial press still has a long way to go.
When Shiller says home prices are going to fall 30 percent, not one reporter who covered the story asked this simple follow-up question: "Bob, during the worst part of the Great Depression, one in four people were out of work. Our unemployment rate is a little over 5 percent. So what's going to drive home prices that low?"

Instead, no one did even the minimum Wikipedia search to find out what conditions were really like 75 years ago.

What that means is not only are the indexes misleading - the reporting is worse.
Right now we have mortgage interest rates three points below historical norms. We have housing inventories five months greater than balanced markets. Combine that with unemployment that is a half percent lower than the recession of 2003, and you have excellent homebuying conditions.

Stop listening to the media. Go buy a home.

Cincinnati 'Media Is Wrong About Housing Slump'

2008-05-06T21:40:00.000-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

Cincinnati Homes and Mortgages

2008-05-03T07:54:00.001-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

Mortgage Market Update:

The Federal Reserve met in late April and reduced the fed funds rate, the rate at which banks lend money to each other, by a quarter-point. The fed funds rate now stands at 2 percent, down from over 5 percent in September 2007. Wall Street analysts believe this may be the last rate decrease in store as the Fed seeks to keep inflation in check.
Fixed-rate mortgages remain stable and hover in the high 5 percent range, up slightly from one month ago.

The National Association of Realtors (NAR) reported a March slowdown in Existing Housing Market, which was down 2.0 percent from February. As it stands, the NAR is anticipating an annual sales volume of 4.93 million homes for 2008.

Finance Q and A:

Q: Is it better to obtain a no fee loan, or one with points and a lower interest rate?

A: Each loan has its benefits. The no fee loan is a practical option for many buyers today, but comes with a higher interest rate and higher monthly payment. Buyers who choose a no fee loan often do so if they think they will be moving again, or if they need the money for something else.
Buyers who pay points up front and reduce their mortgage rate will benefit from a smaller payment. This is a practical approach for buyers who plan on staying in their residence long enough to recover their upfront cost.

Each situation is unique. To find out which option is best for you, contact your mortgage professional today!

Tip of the Month:

With the number of foreclosure investment opportunities on the rise, would-be investors are wise to consult with their mortgage professional first about possible financing options. Depending on credit, some investors can still arrange conventional financing, while others may want to explore lines of credit or borrowing against existing equity. Find out what options are available by calling your mortgage professional today.

SELLING REAL ESTATE IN CINCINNATI

2008-04-29T14:41:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

If at First You Don't Succeed, You're in Excellent Company

In her new autobiography, "Home," Julie Andrews tells of taking a screen test for MGM studios when she was 12 years old. "They needed to gussy me up a bit because I was so exceedingly plain," she writes. "The final determination was 'She's not photogenic enough for film.'"
J.K. Rowling's book about a boy wizard was rejected by 12 publishers before a small London house picked up "Harry Potter and the Philosopher's Stone." Decca Records turned down a contract with the Beatles, saying "We don't like their sound." Walt Disney was fired by a newspaper editor who said he "lacked imagination." Michael Jordan was cut from his high-school varsity basketball team sophomore year.

See photos and read more about well-known figures who overcame setbacks
What makes some people rebound from defeats and go on to greatness while others throw in the towel? Psychologists call it "self-efficacy," the unshakable belief some people have that they have what it takes to succeed. First described by Stanford University psychologist Albert Bandura in the 1970s, self-efficacy has become a key concept in educational circles, and is being applied to health care, management, sports and seemingly intractable social problems like AIDS in developing countries. It's also a hallmark of the "positive psychology" movement now sweeping the mental-health field, which focuses on developing character strengths rather than alleviating pathologies.

Self-efficacy differs from self-esteem in that it's a judgment of specific capabilities rather than a general feeling of self-worth. "It's easy to have high self-esteem -- just aim low," says Prof. Bandura, who is still teaching at Stanford at age 82. On the other hand, he notes, there are people with high self-efficacy who "drive themselves hard but have low self-esteem because their performance always falls short of their high standards."

Still, such people succeed because they believe that persistent effort will let them succeed. In fact, if success comes too easily, some people never master the ability to learn from criticism. "People need to learn how to manage failure so it's informational and not demoralizing," says Prof. Bandura, who signs many of his emails, "May the efficacy force be with you!" ("I've failed over and over and over again in my life. That's why I succeed," Michael Jordan has said.)
FORUM

Readers, have you had moments of self-efficacy? What setbacks have you suffered ... and how did you overcome them? Share your thoughts.FOR MORE ON THIS TOPIC, SEE:

• "Self-Efficacy: The Exercise of Control," by Albert Bandura (1997)
• "Self-Efficacy in Changing Societies," edited by Albert Bandura (1995)
• "Self-Efficacy Beliefs of Adolescents," edited by Tim Urdan and Frank Pajares (2006)
• "The Power of Resilience" by Robert Brooks and Sam Goldstein (2003)
• "Rejection" by John White (1982)
• Self-Efficacy Web site

Sometimes, the rest of the world just hasn't caught up with an innovator's genius. In technology, rejection is the rule rather than the exception, Prof. Bandura says. He points out that one of the original Warner Brothers said of sound films, "Who the hell wants to hear actors talk?" Steve Jobs and Steve Wozniak were rebuffed by Atari Inc. and Hewlett-Packard Co. when they tried to sell an early Apple computer. And sometimes genius itself needs time. It took Thomas Edison 1,000 tries before he invented the light bulb. ("I didn't fail 1,000 times," he told a reporter. "The light bulb was an invention with 1,000 steps.")

Where does such determination come from? In some cases it's inborn optimism -- akin to the kind of resilience that enables some children to emerge unscathed from extreme poverty, tragedy or abuse. Self-efficacy can also be acquired by mastering a task; by modeling the behavior of others who have succeeded; and from what Prof. Bandura calls "verbal persuasion" -- getting effective encouragement that is tied to achievement, rather than empty praise.
INDEPENDENT STREET BLOG

Wendy Bounds on optimism and entrepreneurship. Read her latest post and share your thoughts.
"I teach teachers here, and one of the things we teach them is how to build up children who have been told they aren't competent," says Frank Pajares, a professor of education at Emory University who has been a leader in using self-efficacy to nurture academic confidence. "We all have mental habits, and once they are set, they are as hard to break as stopping smoking or biting your fingernails."
It's not too late to recover. "You can develop a resilient mindset at any age," says Robert Brooks, a Harvard Medical School psychologist who has studied resilience for decades. One key, he says, is to avoid self-defeating assumptions. If you are fired or dumped by a girlfriend, don't magnify the rejection and assume you'll never get another job or another date. (Maintaining perspective can be tough in the face of sweeping criticism, though. A teacher said of young G.K. Chesteron, who went on to become a renowned British author, that if his head were opened "we should not find any brain but only a lump of white fat.")
And don't allow a rejection to derail your dreams. "One of the greatest impediments to life is the fear of humiliation," says Prof. Brooks, who says he's worked with people who have spent the last 30 years of their lives not taking any risks or challenges because they are afraid of making mistakes.
What if you really do lack the talent to succeed at whatever you're trying to do? That's a tricky question, psychologists say -- one that's on display in the early episodes of "American Idol" each season. Try to objectively assess how much you are likely to improve with training and hard work, and how much it's worth to you, or whether there are other ways to enjoy your passion -- being a coach instead of a player, for instance. On the other hand, what if Dr. Seuss had given up after his 27th rejection and not tried once more? In the words of Henry Ford: "Whether you think that you can or you can't, you're usually right."
Write to Melinda Beck at HealthJournal@wsj.com
'

Talk of Town Hall Meeting and Foreclosures

2008-04-22T07:27:00.003-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

This is a our guest blogger, RE/MAX Founder Dave Liniger

Make the best with what you've got. They've always been good words to live by, but they really make a lot of sense this year. With the housing market what it is, I've been telling agents across the country, there's no choice, you have to work with what you've been given. That was also the theme of our first in a series of RE/MAX Town Hall Meetings, broadcast LIVE, on RE/MAX Satellite Network last week. I hope you tuned in, because it was one of the more popular programs ever shown on RSN. We had so many emails and phone calls we had to extend the show an extra fifteen minutes.You can still download the Town Meeting handout materials on Mainstreet.

Margaret hosted the meeting that included a panel discussion with three leading experts- RE/MAX agents, of course- who talked about taking on short sales, REOs and foreclosures. And these agents really knew the topic well! At the beginning of the meeting, I mentioned that I had recently spoken with a friend who's a builder in Scottsdale. According to him, for every property in foreclosure that is sold or mitigated, two more come on the market. And it doesn't show any sign of letting up in 2008. Out of a projected total of 6 million home sales, well over a million could be foreclosures.

Maybe you've never had any interest in the short sale or foreclosure business. Maybe you should rethink that. As our experts said, it can be good business if you put some work into it. But also, I certainly believe in being an advocate for your clients. If you have clients in foreclosure, you need to know as much about the process as possible. And you may need to be persistent about it, like our Town Hall Meeting expert, Nancy Freeman. She has the knowledge and energy to be an effective advocate for her clients.

As always, the NAR web site has some good articles with pre-foreclosure and foreclosure tips for agents. And, RSN has an online course on Foreclosure Prevention and Opportunities for Buyer-Clients, scheduled in June. You might also want to check out the video tips on ATOD. They're here on Mainstreet under the RE/MAX University tab.

Like I said in the Town Hall Meeting, foreclosures aren't for everyone, but they're in every town. Give it some thought. And watch for more Town Hall Meetings on RSN in the coming months.
I'll be out traveling the east coast this week for our Be Great in 2008 series. We've hit nearly 20 cities so far! You know me, I have plenty to say about today's market and I'm happy to talk with anyone. But what about you? Don't fail me now. I want to hear what you have to say about the market, the topics discussed in the Town Hall Meeting. Please send your comments in and I'll be taking notes for BlogStreet as I make the tour next week.

Raleigh, Philadelphia, Pittsburgh, Columbus- here I come!

Note: The RE/MAX Town Hall Meeting broadcast on April 14th will be rebroadcast in the future and will also be streamed online. Check Mainstreet for more information. The next Town Hall Meeting is scheduled for June 12 at 2 p.m. ET.

What's Your Cincinnati Neighborhood Worth?

2008-04-19T18:48:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

Compare recently sold homes in your neighborhood.

The RE/MAX Neighborhood Valuation Tool allows you to compare the prices of properties that have recently sold in your area. Simply enter the property address of your choice and as much information about the property as possible.
The Neighborhood Valuation tools will return, on average, the twenty nearest and most recently sold properties.
Evaluate and select the comparable properties that most closely match your subject property and the RE/MAX tools will provide you with home sales trends, school information, neighborhood data, and much more!

CLICK HERE!

http://remax-elite-sooh-oh.com/Listings/NeighborhoodValuation_r4.aspx

Client Lawsuit Ends in Victory for California Associate

2008-04-17T06:50:00.000-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

A recently resolved civil lawsuit initially covered in "The New York Times" and on NBC's "Today" show was simply the "unfounded claims of an individual home buyer," RE/MAX International President Vinnie Tracey said in a press release April 14.

On April 10, a North San Diego County jury took less than two hours to rule in favor of Mike Little of RE/MAX Associates in Encinitas, Calif. He was being sued by a couple who in the summer of 2005 believed they paid too much for their new home.

The lawsuit attracted national attention and had been postponed due to significant media coverage. Some news accounts reported that courts might hold real estate agents responsible for lower home values.
"This case was never about falling prices or the current real estate market," Tracey said. "It was simply about the unfounded claims of an individual home buyer, claims that could not be substantiated in any way."

Little, who showed the couple more than 60 homes during their search, was understandably pleased by the verdict.

"My life has been turned upside down during the last two years, but the sun is shining much brighter today," he said. "It's been a very difficult time, but now I feel totally vindicated."
Added Broker/Owner Geoffrey Mountain, who was also named in the lawsuit, "We had opportunities to settle this case, but just refused to do it. It may have cost a lot of money to defend, but we were absolutely certain no one did anything wrong."

Read the RE/MAX International press release about the verdict.

Read a North County Times story about the verdict. An excerpt:
The jury found that Little had not breached his responsibility to the couple as their agent, nor had he been negligent.

"Mr. Little did what he was supposed to do," jury forewoman Wendi Brick said. "The bottom line is that you (as a buyer) are responsible when you sign a contract and purchase something."
Read a Voice of San Diego story about the verdict. An excerpt:

As for the buyers' responsibilities, juror after juror gushed praise for Little and heaped criticism on the Ummels' failure to research the comparable sales themselves.
(Attorney David) Bright argued the trial had illuminated the hard work that responsible real estate professionals, those that have been in the industry for a while, do for their clients.
"I think Realtors are scapegoats for a declining market," Bright said after the verdict was reached Thursday afternoon. "There are always people out there who will blame someone for something that is beyond their control."

Some things I thought you should know about discount/flat fee agents and companies…

2008-04-15T11:55:00.004-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

At first glance, the offer of a discount/flat fee agent sounds great. You are promised that your home will appear on the Multiple Listing Service and repeated on numerous other sites. However, are there things they ignore that costs their clients thousands of dollars?

Below are copies directly from web sites of two agents who do flat fee and discounted services. You need to understand what they are really saying…

***NOTE*** PER NEW OHIO LAW EFFECTIVE OCTOBER 9,2006, OPTION #1 AND #2 PROVIDE THE OPPORTUNITY FOR THE SELLER TO WAIVE THE FOLLOWING SERVICES (OHIO LAW DOES NOT PERMIT THE WAIVER OF REPRESENTATION....ONLY OF SERVICES), WHICH WILL NOT BE PERFORMED BY THE LISTING COMPANY, OR THE BROKER:

1. SEEKING A PURCHASE OFFER AT A PRICE WITH TERMS ACCEPTABLE TO THE SELLER.

2. ACCEPTING DELIVERY OF AND PRESENTING AN PURCHASE CONTRACT TO THE SELLER IN A TIMELY MANNER, EVEN IF THE PROPERTY IS SUBJECT TO A CONTRACT OF SALE, LEASE, OR LETTER OF INTENT

3. ANSWERING THE SELLER'S QUESTIONS AND PROVIDING INFORMATION TO THE CLIENT REGARDING ANY OFFERS OR COUNTEROFFERS.

4. ASSISTING THE SELLER IN DEVELOPING, COMMUNICATING, AND PRESENTING OFFERS OR COUNTEROFFERS.

5. ANSWERING THE SELLER'S QUESTIONS REGARDING THE STEPS THE CLIENT MUST TAKE TO FULFILL THE TERMS OF ANY CONTRACT ( WITHIN THE SCOPE OF KNOWLEDGE REQUIRED FOR REAL ESTATE LIENSURE).

SINCE YOU, THE SELLER, WILL BE TAKING CARE OF ALL OF YOUR CONTRACTS THAT COME IN ON THE HOME YOU'RE SELLING, YOU ARE WAIVING THE FOLLOWING RIGHTS: THE AGENT WILL NOT BE ANSWERING THE SELLER'S QUESTIONS AND PROVIDING INFORMATION TO THE SELLER REGARDING ANY OFFER OR COUNTEROFFER. THE AGENT WILL NOT BE ASSISTING THE SELLER IN DEVELOPING, COMMUNICATING, AND PRESENTING OFFERS OR COUNTEROFFERS. THE AGENT WILL NOT BE ANSWERING THE SELLER QUESTIONS REGARDING THE STEPS THE SELLER MUST TAKE TO FULFILL THE TERMS OF ANY CONTRACT ( WITHIN THE SCOPE OF KNOWLEDGE REQUIRED FOR REAL ESTATE LICENSURE)

Here’s what they are saying:

1) They “will not be seeking a purchase offer at a price and with terms acceptable to the seller.” Isn’t this the primary reason you hire an agent to work for you?

2) “Accepting delivery of and presenting any purchase offer to the seller…” Often instructions are given to the buyer’s agent to present any offers directly to the seller. How can the listing agent even review the offer if they don’t see it?

3) “The agent will not be answering the seller’s questions and proving information to the seller regarding any offers or counteroffers.” Besides marketing and communication with you, negotiating and strategies are what agents are all about. A home seller is left out of the loop on market trends, creative concepts that are helping other home sellers and many details that could otherwise save you lots of money and hassles.

4) “The agent will not be assisting the seller in developing, communicating, and presenting offers or counteroffers.” The home seller is on their own against a biased buyer’s agent and their clients.

5) “The agent will not be answering the seller's questions regarding the steps the seller must take to fulfill the terms of any contract…” With all the details, contacts and follow up required to get a home successfully from an accepted purchase contract to closing is not only time consuming, but with inspections, they can be costly.

What else you should know. Often:

1) You take your own photos, edit them and ship them to the listing company.

2) You often are limited to 1 photo without paying extra fees.

3) You must deal directly with a trained buyer’s agent whose state mandated job is to get the best possible deal for the buyer.

4) You must have the equipment and knowledge on how to scan, copy, edit, print and send documents via email and/or fax. Your agent does not come to you with forms if needed.

5) You must often pay upfront deposits for signs and lock boxes which you must ship back after the listing.

6) There may be extra fees for updating your listing or photos.

7) Often there is a charge for feedback from showings.

8) If you hold your own open house, there is often a fee to advertise it in the Multiple Listing Service.

9) You are left on your own to determine list price. (Some offer a quick search of comparable properties for an additional fee.)

10) You are left on your own to stay up with the competition and homes that are going under contract when yours isn’t.

11) Virtual tours, if offered, come at a high extra charge and you must take the photos, edit, stitch, balance and email them.

12) Unless you pay extra, when dealing with a purchase offer/contract you will not have an agent to:
A) Explain what the purchase offer is really saying.

B) Point out what you are expected to perform in a purchase contract. (This could leave you more vulnerable to law suits and other expenses.)

C) Expose unnecessary expenses the buyer’s agent may be trying to sneak into a purchase contract.

D) Explain what are normal or customary practices and expenses for your area.

E) Help leverage your position in negotiations to get the most money for your home. (This requires up to date knowledge of your immediate market and how buyers are reacting to other homes on the market.)

F) Have a professional trained advocate creatively working for you.

G) Explain what is fluff and what is a legitimate concern in a buyer’s property inspection.

H) Follow through on if the buyer is actually pre-approved or just pre-qualified for a mortgage.

I) Assure all documents are to the right people at the right time to fulfill the demands of the purchase contract.

THE BOTTOM LINE FOR YOU: One of the agents from whose website some of the information above was copied, in 2007 they had a 67.5% failure rate to only a 32.5% sold percentage. That means they only sold 13 homes while failing to sell 27 homes. You would face a 67.5% chance of your home not selling!

(All sources are available upon request.)

RE/MAX 365: Elements and Execution

2008-04-10T15:50:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

RE/MAX was built for top agents. That is why they have the best training for experience agents.

What that does mean for buyers and sellers? It means the best trained, most experience agents in the world. See what RE/MAX can do for you!

New Tools To Connect With Clients In A Buyer's Market RE/MAX 365 is a year long, aggressive integration campaign of the most relevant education, information and tools agents need to survive and thrive in a buyer's market. RE/MAX 365 will permeate every branch of RE/MAX, that includes special broadcasts and live "Town Hall" meetings on RSN, highly targeted peer studies on ATOD, intensively focused education from Brian Buffini, Dave Liniger targeted tours and connectivity tools from RE/MAX International that work for agents 365 days a year.

The final phase of RE/MAX 365 will provide multi media tools to connect associates directly to their clients. With an intensive focus on making agents "Connectors" the "365" initiative immerses agents with a step-by-step plan to keep them constantly connected to their clients.

The 365 "THEME" has potential to be a seamless transition to the proposed recruiting tour and messaging for brokers being discussed for later this year. RE/MAX 365 Video Stream

Intensive Education The RE/MAX Ultimate Agent program follows up (and updates) the incredibly successful 100 Days to Greatness Series. The exclusive program, designed by Brian Buffini, is designed for RE/MAX associates earning over $100,000 in annual income. Special emphasis will be focused on Leveraging the Brand, RU, Leadstreet, and Design Center. RE/MAX Intensive Education Video Stream

Live Interactive Town Hall Meetings Co-Founder Dave Liniger and CEO Margaret Kelly bring in the best minds in the business to tackle the hottest issues in the industry. Practical ideas to help you succeed in this market. Scheduled topics include:

Foreclosures, REO's & Short Sales
Working with Builders
Mergers & Acquisitions
Home Staging Upcoming Shows

Special Regional Broadcasts RE/MAX Regional Directors will host live regional updates broadcast from the Global Education Center to communicate with their membership and share best practices within their regions.Subject Matter Experts will deliver programs on Buyers Market targeted programs that target challenges and opportunities in a changing market.

1st Time buyers who don't have the burden of selling their house
Foreclosures
Investors
Reality of the Buyer's Market for Sellers

Live LeadStreet and Design Center Training From International Instructors Upcoming Shows
Connecting To Clients Campaign A powerful campaign comprised of print, email, personal and video messages for agents to send directly to clients to consistently maintain connection.The campaign will leverage RE/MAX national commercials, existing print campaigns and newly created video messages to accompany Design Center technology.Driving home the message of excellent customer service these client testimonials highlight the competitive advantages of the RE/MAX brand, superior customer service, experience and commitment of RE/MAX agents.The testimonials can be married with the new RE/MAX commercials to drive home the brand message.

Connecting to Clients Videos
Segment 1
Segment 2
Segment 3
Segment 4
Segment 5
Segment 6
Segment 72008 TV Spots
Water
Water - RE/MAX Collection version
Shadow
Return
Return - Spanish version
Dude
Stuck
View
Reach (2007)

Communication From The Top BlogStreet by Dave LinigerThe latest industry and RE/MAX Network information designed to provide inspiration and education. "Daves BlogStreet" gives agents the information they need to succeed, right now! A think tank of elite associates and brokers will also share their insight.

Guest Blogger- RE/MAX CEO, Margaret Kelly

2008-04-06T21:11:00.002-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Empty News Coverage: Isn't the Glass Half Full?

First, let me say that I'm really glad that we have this new forum to communicate with each other. And I'm grateful to Dave for allowing me to post to Dave's BlogStreet. I'm looking forward to hearing from everyone about today's topic.

This morning it was my pleasure to be a guest on CNBC's The Call . I've always enjoyed having an opportunity to speak about real estate on CNBC and other media, as well.

Everyone I've met at CNBC has always been very polite and friendly to me. I understand that as professional journalists they have a job to do, but I think we've all been a little frustrated by media coverage of what was first referred to as a "bubble," then a "mess" or "meltdown," and finally a "crisis."

Reports like this may actually serve to prolong the situation, because buyers get nervous and stay out of the market. They worry that prices may continue to drop or interest rates will get better.

How does this happen? The media says the market is "bleak and grim," the buyers sit it out, inventory rises, and prices drop. Then, the media reports that it's getting worse! The cycle just repeats itself!

You can see the difference of opinion in the discussion that followed me on CNBC. They said I worked for a real estate company, that's why I was optimistic. Well, I'm not just a cheerleader, but someone who is telling the facts on the other side of the story. Real estate markets are local. It's hard to deal with "averages." And markets are cyclical, they're always changing.
The change we see right now does point to a flattening out. There is light at the end of the tunnel. Existing Home Sales have started to rise, foreclosures are coming down in many markets, and we hope these become trends. For many cities, towns and neighborhoods there's never even been a downturn.

The important point to keep in mind, and to tell your clients is that most of us have never experienced a "Buyer's Market" like we're seeing right now: tremendous inventory, historically low mortgage rates and reduced prices. Many investors are now recognizing this situation and taking advantage of it, as well.

I hope that you had a chance to see my appearance on CNBC today. I will keep spreading the "good word" and hope all of you will too. Please add your comments to this blog and let everyone know your ideas about dealing with this market and with the media coverage. Tell us about the positive signs you see in your area.

RE/MAX National Advertising :TV, Radio Ads Hit Airwaves This Week

2008-04-04T08:26:00.001-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

Tune In: TV, Radio Ads Hit Airwaves This Week Tune in this week to catch RE/MAX television commercials during hit shows and news broadcasts, as well as radio ads during the Final Four games leading to the NCAA Men's Basketball Championship.

Planned TV and radio airings (subject to change) for the remainder of the week ending April 6 include:

TELEVISION SCHEDULE
April 3
ABC
ABC World News Tonight, Miss Guided
CBS
Early Show
NBC
The Office, My Name is Earl
April 4
ABC
Good Morning America, 20/20
CBS
Numbers
NBC
NBC Nightly News
April 5
A&E
Sell this House, Primetime/Late Fringe/Overnight Rotations
ABC
ABC Saturday Movie
AMC
Late Night Movies
CNN
Morning/Daytime/Early Fringe Rotations
DIY
Daytime/Early Fringe Rotation
FOOD
All Day Rotation
FXNC
Cost of Freedom, Fox Report Weekend, Geraldo at Large
HGTV
All Day Rotation
MSNB
All Day Rotation
NGC
Daytime/Early Fringe Rotations
TBS
All Day Rotation
THC
Daytime Rotation
TNT
Access/Primetime/Late Fringe Rotation
USA
All Day Rotation
April 6
A&E
Daytime/Early Fringe Rotations
ABC
America's Funniest Home Videos
AMC
Sunday Night Movie
CBS
Cold Case
GAL
Novella
THC
Daytime/Early Fringe
TLC
Primetime/Overnight Rotations
RADIO SCHEDULE
April 5
Westwood One
NCAA Final Four Game 1, Final Four Game 2
NETWORK ABBREVIATIONS
A&E
Arts and Entertainment Television
ABC
American Broadcast Companies
AMC
American Movie Classics
CMT
Country Music Television
CNBC
News and Financial News Channel
CNN
Cable News Network
DHL
Discovery Home and Leisure Network
DISC
Discovery Channel
DIY
Do It Yourself Network
ESPN
Entertainment Sports Programming Network
ESPN2
Entertainment Sports Programming Network Two
FLN
Fine Living Network
FOOD
The Food Network
FOXN
Fox News Channel
GAL
Galavision Channel (Spanish)
HGTV
The Home and Garden Television
LIFE
Lifetime
MSNBC
Cable News and Commentary
NGC
National Geographic Channel
SPEED
Speedvision
TBS
Turner Broadcast System
TELE
Telemundo Channel (Spanish)
TELF
Telefutura Channel (Spanish)
THC
The History Channel
TLC
The Learning Channel
TNT
Turner Network Television
TVL
The Travel Channel
TWC
The Weather Channel
UNI
Univision (Spanish)

Cincinnati Mortgage Market Update

2008-04-02T07:27:00.001-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Mortgage Market Update:

The Federal Reserve continued to drop interest rates in March when they lowered the Fed Funds rate by 75 basis points to 2.25 percent. This will bring the prime rate down to 5.25 percent, affecting short term credit costs.

Fixed-rate mortgages remain stable and hover in the high 5 to low 6 percent range.
The housing market got a boost in February as the the National Association of Realtors (NAR) reported increased market activity in the Existing Housing Market, up 2.9 percent for the month. As it stands, the NAR is anticipating an annual sales volume of 5.03 million homes for 2008.

Finance Q and A:

Q: How will the recent Economic Stimulus Package affect our current mortgage market?

A: The US Department of Housing and Urban Development (HUD) recently announced an increase in FHA loan limits, which were mandated by the Economic Stimulus Act. The new limits are based on median home prices throughout the United States. These new changes create a lot of opportunity for home owners and home buyers, and promote access to lower cost loans. To find out what the limits are in your county, contact your mortgage professional today.

Tip of the Month:

If you are in the market for a home and need a competitive mortgage rate, consider the benefits of locking in your rate early. Many experts are expressing inflationary concerns, which could adversely affect future rates. Contact your mortgage professional to discuss your best course of action. A little home work today can save you headache and heartache down the road.

RE/MAX University

2008-04-01T07:55:00.003-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

Why is RE/MAX above the crowd? One reason is that we have the best training for experienced agents!

This Week on ATOD: Ad Kits, LeadStreet, Lead Follow-Up In the Agent Training On Demand site this week, Mike Reagan details the contents of the 2008 Ad Kit, Brian Buffini explains the Ultimate Talent Scout and John Chinello shows you how to enhance LeadStreet listings. Also, Richard Robbins outlines a solid lead follow-up system.

Watch the latest ATOD videos now.
In Focus channelWelcome to ATOD tab - In "Utilizing Your Ad Kit," Mike Reagan, RE/MAX International Senior Vice President of Brand Marketing, details the contents of the 2008 advertising kit. He shows you how to customize TV, radio and print ads for your market.

Teams channel Team Management tab - In "How to Run Your Team and Not Lose It," Buffini and his brother, Kevin, explain that by using the Ultimate Talent Scout assessment, you can determine how to best use your team members. The assessment rates your team members' strengths and weaknesses, allowing you to place them in the best position for success.

Technology channel LeadStreet tab - In "LeadStreet: Enhancing and Updating Your MLS Listing," Chinello, RE/MAX International eBusiness Training Manager, shows you how to add virtual tours and additional photos to your listings through LeadStreet on remax.net. You can also add "Showing Information" that only RE/MAX users can see.

Coaching channel Rouse/Robbins tab - In "Timely and Effective Follow-Up," Robbins explains that you should follow up on leads every day with one goal in mind: set a face-to-face meeting. Call more than once a day, but only leave a message with the first phone call. Call leads several times a day for four or five days before you give up.

Listing Presentations

2008-03-28T07:28:00.001-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

let's talk about Listing Presentations. It's becoming increasingly difficult to get good listings in this market. The good news is, surveys show that consumers realize it's more important than ever to use a professional in a difficult market. What you must convince them of is that it's more important than ever to use a professional like you.

Before you go to a listing presentation, be sure you have a solid marketing plan with client testimonials. And be ready for the tough questions about pricing and commissions. You may even want to practice your responses with a colleague in a role play.

The most important thing to keep in mind is -- You must use every competitive advantage you have. And remember, you're not going into the presentation alone. You're going in with the most powerful real estate brand in the world. Recognize that and use the power of the brand to your advantage. RE/MAX agents sell more houses, and have more experience. Remax.com has more visitors than any of our competitors, and our national TV advertising is equivalent to all our competitors combined. Our brand awareness and experience translates into more exposure for a listing and more buyers.

There are listings and there are sellable. listings. The key is correct pricing. Your client must understand that the market has changed and they have to be realistic. Take them on a tour of comparable homes in their area if you must. It may help them to see their competition. The right price means a quicker sale. Too high and the listing will linger on the market and we all know what serial-reductions mean. If they can't face reality, be honest. Tell them it may be better not to enter the market right now.

As for the dreaded commissionectomy -- Tell your client that when you prepared this presentation for them you calculated the lowest possible commission and if you cut into the co-op commission there likely won't be many showings. Assure them that you are an experienced professional, who's prepared to market the property in several innovative ways and you won't be paid until you sell the property.

The bottom line is trust -- Tell your client what percentage of your business comes from repeat and referral clients. Many of your customers are now your friends, and you would never mislead them and jeopardize your relationship. Most importantly, make sure they understand that you would rather turn them down today, than lie and let them down in the future. If they pick the best agent, with the best company, they will have the best chance of selling their home.

RE/MAX Has Top Market Share Across U.S.

2008-03-25T15:50:00.004-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!

This is what happens when you combine self-promotion and a top brand.

As a consumer it gets you more exposure for your home.

As an agent it puts you in a position to make Money, not save it.

RE/MAX Has Top Market Share Across U.S. RE/MAX continues to gain market share around the world, and in the U.S. the network ranks No. 1 in many states.

See how RE/MAX dominates the competition in Delaware, New Jersey and Rhode Island (breakdowns based on listings sold in 2007):

DelawareRE/MAX: 33.0%Patterson Schwartz: 17.1%Prudential: 10.9%Keller Williams: 8.7%Century 21: 6.0%

New JerseyRE/MAX: 22.2%Weichert: 20.8%Coldwell Banker: 16.5%Century 21: 15.8%Prudential: 10.4%

Rhode IslandRE/MAX: 24.75%Coldwell Banker: 11.66%Century 21: 6.25%Prudential: 4.27%Keller Willams: 4.09%

March Madness: RE/MAX Takes Center Court for Tourney

2008-03-21T05:46:00.001-04:00

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to postion yourself to be successful in today's market!

March Madness has arrived and RE/MAX is poised to score big as a major sponsor of radio broadcasts during the NCAA Men's Basketball Tournament.

The 2008 sponsorship, which includes 199 30-second commercials on Westwood One, will generate more than 242 million consumer impressions, predicts Abby Lee, RE/MAX International Director of Regional Advertising.

"This is a huge sporting event that millions of people are passionate about, and our sponsorship creates countless consumer impressions for RE/MAX," Lee says. "The relationship with Westwood One and the increased brand name visibility that comes from it has been incredibly beneficial for all RE/MAX Associates.""

In the next few weeks, RE/MAX will be at the tournament for all the jumps, dunks, highs and lows of the exhilarating match-ups leading to the title game.

RE/MAX commercials - in addition to "RE/MAX Outstanding Play of the Game" features and teasers - will air during each of the tournament games. The number of ad spots increases as the tournament progresses into the final rounds and are accompanied by several mentions of the "RE/MAX Broadcast Center."

Six RE/MAX spots will run in each game leading up to the fourth round, "Elite 8." Twenty-four total spots will run in that round and 16 spots will air during the Final Four. Eight RE/MAX spots air during the Championship Game on April 7.

RE/MAX commands a noticeable presence at the games themselves, with RE/MAX Balloons, table covers and billboards along "Radio Row." Additionally, RE/MAX will air several 30-second commercials during the Women's Final Four championship game.

The impact of all this brand name awareness?

"This is a very effective format to reach million of fans with our positive message that now is a great time to buy a home," says Mike Reagan, RE/MAX International Senior Vice President of Brand Marketing and Event Management.