Do Sales Plaques Matter?

Recently I was chatting with a very successful real estate pro who took great pride in the many plaques and other forms of recognition that his brokerage gave him month after month to acknowledge his enviable sales record. This Florida-based gentleman, with more than 40 years of experience under his belt, is still hard at work every day scoping for buyers and going after new listings.

His business has slowed some in the past few years as it has for many. But clearly the trophies of his excellent work were, and still are, a major source of pride, as well as a centerprice of his marketing effforts. But the encounter made me wonder about the real value of sales contests these days. Do your brokerages encourage competition among sales associates with plaques and other highly visible rewards for individual success?

For a future article in REALTOR® Magazine, we want to hear from broker-owners, managers, and sales associates how important you think it is to publically recognize top performers? Does such recognition motivate others to work harder or does it result in unproductive jealousy or griping? Please share your thoughts and experiences concerning sales contests. Feel free to e-mail me directly if you prefer at wcole@realtors.org.

Top 5 Daily News Stories Last Week

Here are the top five items from the Daily News last week: Read more

Scripts Are Coming Your Way

By Katherine Tarbox, Senior Editor, REALTOR® Magazine

At the 2009 Keller Williams Family Reunion in Orlando, I listened to many practitioners who said they wanted more scripts to help them through these demanding times. In response to this request, we developed content to help you answer the tough questions clients are asking, from how to handle buyers’ objections to sellers’ pricing concerns.

Beginning next week, you’ll notice that the Monday and Friday editions of your Daily News e-mails from REALTOR® magazine will include one-question, one-answer “Quick Scripts” from some of the best real estate coaches in the industry. Topics will include prospecting, cold calls, client referrals, committing buyers, open houses, qualifying buyers, tips for listing presentations, and price reductions.

Here are a few samples of what’s in store, courtesy of business coach Cheri Alguire:

They say: “If I can’t get $x for my house, I can’t afford to sell.” Read more

To Stage or Not to Stage?

By Wendy Cole, Senior Editor, REALTOR Magazine®

Home staging seems to be a more important selling tool than ever. Barb Schwartz, author of the new book Staging to Sell: The Secret to Selling Homes in a Down Market, notes that that even in today’s slower housing market, 95% of staged homes sell (on average) in 35 days or less. On the other hand, homes that are not staged take 172 days or more to sell, if they sell at all.

Just wondering if these figures correspond with what you all are finding out there? How critical is staging a property in your market?

Another Lesson in Short Sales

By Stacey Moncrieff, Editor in Chief, REALTOR® Magazine

The more I learn about short sales, I told Scott Thompson yesterday, the more complex they seem. That’s pretty much par for the course, according to Scott, whose company, Mortgage Resolution Services of Sacramento, works on short sales every day.

Scott and I were having breakfast yesterday, preparing for our second short sales webinar. The first, in March, enjoyed an enormous response. Besides the thousands who joined the call, more than 14,000 people have either played back the session or downloaded it.

Yesterday’s session was a bit of a free-for-all. We fashioned it as a way to answer the questions we couldn’t get to in the first session. Some of the key points I took from Scott’s comments yesterday were:

• Second-home and investment short sales are possible. A lot of participants asked about this. Both second-home owners and investment property owners stand a chance of making a short sale work — as long as they’re upfront and honest about their situation. Scott talked about the importance of an effective hardship letter. It should include three elements:
  • “Dear Lender: I’m sorry about this situation I find myself in.”
  • “Here’s the modification or action I’m requesting.”
  • “I’ve exhausted all other possibilities.”

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