Man, I Wish You Had Been There

Convention in San Diego was an absolute BLAST! Sorry if you missed it, because you missed some valuable information, inspirational and motivational speakers and most of all the new buying and listing presentations and REX 2.0! Man, I wish you had been there.

First, valuable information: So many breakout sessions with different speakers provided a wealth of knowledge and perspective about the real estate industry. I'll just give you a snippet of statistics and real estate trends from Anne Randolph, publisher of LORE Magazine and Partner for Murray Consulting. Despite the negativity the media is pushing on its viewers about how awful the mortgage crisis is, if you tell the real story, people just might buy. The media is fueling negativity...and we as real estate agents and experts are letting their hoopla win! Did you know that less than 6% of all mortgages in the US are behind in their mortgages or at risk of foreclosure (1)? According to the Mortgage Bankers Association there are currently about 72 million mortgages active in the US, 3 million mortgages are behind an additional 1 million were at risk of foreclosure...you do the math. Although subprime mortgage delinquencies have risen to just above 10%, it is still below the delinquencies in 2002 (2). Our "mortgage mess" partly stems from the fact that (3) roughly one half percent of homeowners should not have purchased a home in the "hot" market. To say that everyone should be a homeowner would be a fallacy. (4)Despite the property value loss in areas with overbuilding, speculation and excessive price increases (ummm, the Gulf Coast), homeowners who purchased their house 2 years ago still have an average 5% equity in their home. Yes, the market will probably continue to decline for the next year or two until it corrects itself because people will return to renting for various reasons (medical, job loss, can't afford a mortgage, etc.). There were people who purchased homes who should have never done so to start with. Lenders loosened their guidelines and loaned money to borrowers that would never qualify under normal market conditions. Anne Randolph said it perfect, "Anytime you go through a party like that, you have to clean up." But guess what...there are opportunities even in an overbuilt and overpriced market! REAL Trends PULSE report shows buyers and sellers softening their stance and 68% of reporting brokerages are seeing conditions improving. If you are an investor, this is perfect buying opportunity. If you are a hurting builder or developer in a vacation market, find the foreign investors...they're out there. Use our International network of Realty Executives offices. They're everywhere (Canada, Israel, Greece...etc.). I could go on and on, but man, I wish you had been there.

Second, motivational speakers: We had the pleasure of listening to James Arthur Ray and Jerry Rossi. Very soon the convention seminars will be uploaded on KnowledgePoint. I STRONGLY suggest you watch them. Their energy & attitude is so contagious, you can't help but be excited about what they have to say. Man, I wish you had been there.

Third, new tools and strategies: Easily customizable, brand new buying and listing presentations were presented. And they sure do look sharp. Not to mention the amazing new REX 2.o. This program puts the original REX to shame. You will be amazed at marketing capabilities that REX 2.0 has. Not kidding. Not trying to hype it up out of proportion. Seriously. Man, I wish you had been there.

HOWEVER...Haha! We will be holding our MidSouth Regional Meeting and Awards Dinner May 1st and 2nd in Gulf Shores to further explore some of the great strategies & new tools that are available to you. Our keynote speaker will be your regional developer and Region V Regional Vice President for NAR, Randy McKinney. Ask your broker/owner for registration details. Over 95% of our region's regional meeting attendees are in the top 5% of our region. Coincidence? Man, you better be there.

(1) MBA March 7, 2008
(2) MBA National Delinquency Survey
(3) Anne Randolph, REAL Trends, March 18, 2008
(4) Zillow.com US Home Value Report-Q4 2007

MidSouth Executives We Need Your Input!

Thank you Realty Executives MidSouth Broker/Owners and Executives for visiting our blog. With a completed survey, you will receive a $5.00 Starbucks giftcard. Click Here for survey.

*Offer is only for Realty Executives MidSouth broker/owners and agents. Only one entry per agent. Offer extended through March 31st, 2008 @ 7:00 pm.

Spend Saint Patty's Day in San Diego

It's all about you in San Diego at the Annual Realty Executives International Convention. Really...it is. This year's Convention is promised to be full of a plethora of tools, education & networking that are relevant for today's real estate agent.



The Convention will be held the dates of March 17-20 at the host hotel, Manchester Grand Hyatt, in the heart of the famous downtown gas lamp district. Keynote speakers include James Arthur Ray and Jerry Rossi. Ray, a self-made millionaire, coach and mentor, has been featured on shows like The Oprah Winfrey Show, CNN and the today show for his contribution to the wildy successful book, "The Secret". Rossi, a nationally acclaimed motivational speaker, educator and business consultant is the author of the recently published book, "Dog Eat Dog: How to Put the Bite In Your Marketing."

Other speaker topics include:

• Economic Trends & Reports


• Implementing an Advertising Strategy


• Getting Free Publicity
  
• Technology Trends


• Business Planning


• Marketing & Branding Your Business


• The Perfect Listing Presentation


• Getting Your Listings Sold


• Generational Selling


• Strategies for a Changed Market


• and more...
  

Of course there is more than just educational sessions that you will benefit from. One of the best aspects is being able to network with your INTERNATIONAL Realty Executives family at the always entertaining socials, cocktails and awards gala.

Time is running out, Early Bird Registration has been extended until March 7th. Visit Executive Access on http://www.realtyexecutives.com/.

Click here to read full press release.

"Tell the real story...and people just might get out and BUY!"

Anne Randolph, Publisher of LORE (Lives of Real Estate) Magazine, and key-note speaker at the Realty Executives Regional Developer Symposium in Phoenix tells it how it is... how it REALLY is. Anne is a Murray Consulting Partner for real estate trends, statistics & forecasts and has a plethora of information regarding the current conditions in the real estate market.

While in Phoenix, Anne Randolph spoke about how the media is distorting the actual situation, therefore buyers and sellers are frozen by anxiety. She covered a variety of topics, such as what you should know about the mortgage mess to counteract the sensationalist media, real estate investors as clients, the growing importance of niches for real estate agents today, and technology in real estate is not optional. She delivered several key messages that we feel are important to pass on to you so you can inform your Executives so they may in turn inform their clients.

• Despite what the news media is saying, the vast majority (over 95%) of mortgage holders are not in default or delinquency. The highest mortgage delinquencies were in the markets troubled by weather effects and job losses. (1)


• Subprime and Alt A loans will continue to be offered, but more carefully than in the past.


• Most people who bought in 2004 or earlier are still in a positive appreciation situation.


• Mortgage rates continue to be at historically low levels. (2)


• Most mortgage companies are trying to do work-outs for people who have been paying their loans but are facing higher mortgage rates with adjustable mortgages.


• President Bush signed legislation putting on hold the ability of banks to send 1099s for the amount of difference between the mortgage and what the home sells for- giving more freedom to people who are underwater to get out of the mess.


• FOR BUYERS, while housing prices may depreciate a little further, as housing recovers, pent up demand will cause prices to rise quickly, and the Fed will increase interest rates to avoid inflation...so, DON'T WAIT!


• FOR SELLERS, housing may depreciate a little more before it goes up. You can decide to sell now by lowering your price a little, or wait until the turn comes. It totally depends on how badly you need to sell your home.


• FINALLY, it is really a local situation- and the agent needs to know the details of each neighborhood for their client. For example, visit Cyberhomes on the web.

Now is the perfect time for investors:

• It is easier to get mortgages with conforming loan guidelines.
• Rents will go up as demand increases.
• This will help the purchasers to achieve positive cash flow.

Unlike purchases for primary residences, 79% of investors find property by driving around neighborhoods. In addition, 70% also use a real estate agent or broker, and 56% also use the Internet. (3) It is mandatory that real estate agents work harder to insure they are the expert in their area and in their niche. Which brings us to Anne Randolph's next topic, "The Growing Importance of Niches". She makes the following points:

• The mass is gone, niche is in...forever.


• "When you try to serve everyone, you serve no one well."


• Examples of niches: Neighborhood or geographic area, luxury homes, second homes, golf...beach...mountain...rural, investment, target demographics, short sales, foreclosures, or interest & hobbies (i.e., pet enthusiasts).


• *Consumers don't need the help of a REALTOR® to get basic information, they want the REALTOR® to provide knowledgeable perspective and advice.*

Anne's next point was that technology in the real estate industry is not optional if you want to continue to improve productivity. Technology under-used means under serving the customer.

For more accurate information than the sensationalist media's rhetoric, please visit Anne Randolph's blog.

The sources for the statistics Anne Randolph provided are pulled from (1)Guy Cecala, Inside Mortgage Finance, (2)Lawrence Yun, National Association of Realtors and (3)REAL Trends/Harris Interactive 2008 Study of Real Estate Investors.

Our Regional Developer Inducted as Regional VP for NAR

Randy McKinney, regional developer of Realty Executives MidSouth, headquartered in Gulf Shores, Alabama, was installed as Regional Vice President for Region 5 for the National Association of REALTORS® (NAR) on November 12 at the annual NAR Conference and Expo in Las Vegas, Nevada. Region 5 includes Mississippi, Alabama, Georgia, Florida, Puerto Rico and the U.S. Virgin Islands.
RISMedia and several other media outlets featured the story in their online publications. Other print publications, such as Lore Magazine and Broker Agent Magazine, Greater Birmingham, will feature the story in their upcoming issues. To view the entire article, please visit RISMedia.com.

To view full press release, please click here.

Realty Executives Owns NAR Entrance

The NAR Conference & Expo in Las Vegas was a huge success. From the entrance hall to the expo room, Realty Executives was literally EVERYWHERE you looked. The great presence by Realty Executives created a sense of real estate leadership like no other. Thank you to Realty Executives International and all of the Realty Executives MidSouth attendees. Check out the NAR Conference & Expo slideshow to the right...Great time!

NAR Convention in Las Vegas Coming Up!!!

The National Assoication of REALTORS® (NAR) Conference & Expo is quickly approaching us. If you are in the real estate business, NAR is no stranger to you. Having over 1.3 million members, NAR is the largest trade organization in the nation. This year the annual conference & expo will be held in Las Vegas on November 13-16.

"There are NO LIMITS!", seems to be the resounding theme throughout the conference & expo: limitless business growth, limitless fun, limitless expo opportunities. A wealth of programs, cutting edge technology, networking opportunities, and more will be available to you. You can even personalize your calendar for the event on their Conference & Expo website. With speaking and entertaining guests such as James Taylor, Bill Cosby, Lou Holtz and Doris Kearns, the event is sure to be a blast!

Our very own regional developer for Realty Executives MidSouth, Randy McKinney, will be inducted on Monday night, November 13th as the Regional Vice President for Region 5. Region 5 includes Mississippi, Alabama, Georgia, Florida, Puerto Rico and the U. S. Virgin Islands.

If you have not yet registered, it is not too late! Dont' miss out on this wonderful opportunity to gain an array of knowldege about our industry & just have some good ole' fun with friends. Advance ticket sales are closed, but tickets can still be purchased on site at NAR Registration starting Sunday, November 11 at noon. We hope to see you there!