10 Must Do For 2010

Essex/Morris/Sussex RegionalSales Meeting

Fall 2009

Please DO NOT turn off your cell phone.

….just put it on “vibrate.”

Jimmy BucksJimmy Bucks

$500 Jimmy Bucks to the first person who answers this question correctly:

How can you rearrange the letters in How can you rearrange the letters in “new door” to make one word? “new door” to make one word?

Note: there is only one correct answer.

A A Company-Wide VirtualCompany-Wide Virtual Raffle Event Raffle Event – Sample Prizes– Sample Prizes

A cool cruise to the Caribbean

A cool cruise to the Caribbean

Flat Screen TVsFlat Screen TVs Netbooks (mini laptops)

Netbooks (mini laptops)

3 listings 3 Revenue Units 6 Open Houses

September 1September 1stst – December 21 – December 21stst

2010Begins in about two weeks!

What do I mean by “Must Do”?

(Things that work)

10 Must Do Action Items for 2010.

Before We Get Into That…..

The “story” is changing…Home sales appear to have hit a bottom but expect only a very modest

upswing in coming months. While housing affordability is extremely elevated — reflecting the combined forces of low prices and low mortgage

rates — we do expect the pace of home price declines to begin to slow noticeably in coming months. –David Greenlaw, Morgan Stanley

Next Price Trend

Economists Pronounce Recession Over

Wall Street Journal8-11-09

Fed survey shows US recession may be over

Federal Reserve survey shows worst recession since World War II may be over

WASHINGTON (AP) -- Economic activity is stabilizing or improving in the vast majority of the country, according to a government

survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over.

The Federal Reserve's snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other

analysts that the economy has started to grow once again in the current quarter.

Duration of 2009 ForecastDuration of 2009 Forecast

First-Time Buyers will continue to take advantage of $8,000 Federal Tax Credit

Historically Low Interest Rates

Affordable Home Prices – best in years

More Balanced Markets

Duration of 2009 ForecastDuration of 2009 Forecast

Higher-Priced Markets/Inventory Still Feel the Pain, slow sales, further price declines imminent

Balance of year, revenue units will be 20% higher than 2008

Weichert will continue to outpace general market

Chances of Raising Rate?

Near Zero

Housing Affordability continues to hover near highest level in 18

years.

Source: NAHB 8/19/09

Affordability is KeyAffordability is Key-Yun, NAR

8/2009

Lawrence YunChief Economist and Senior Vice President of Research NATIONAL ASSOCIATION OF REALTORS®.

http://www.realtor.org/wps/wcm/connect/6d961c804f813c84af2aaf6bc7937a4b/Economist+Podcast_090809.mp3?MOD=AJPERES

Podcast link:



According to the U.S. Bureau of the Census, the resident population of the United States, projected 09/22/09 at:

307,501,693

2020 340 Million People




COMPONENT SETTINGS FOR SEPTEMBER 2009One birth every.......................................... 7 secondsOne death every...................................... 13 secondsOne international migrant (net) every…... 35 secondsNet gain of one person every.................. 10 seconds

Growth Offices –September 28Growth Offices –September 28thth West Orange Up 378%

Roxbury Up 200%

Vernon Up 150%

Hamburg Up 133%

Landing Up 88%

Mendham Up 67%

Mt. Lakes Up 67%

Randolph Up 67%

Parsippany Up 61 %

Chatham Up 40%

Kinnelon Up 38%

West Caldwell Up 33%

Livingston Up 29%

Madison Up 17%

Corp. Hqts Up 17%

Chester Up 4%

ReSale ListingsTop Three

As of 8/31/2009

Pam Willard Vernon

Duffy Brennan Sparta

Carol BrandonLanding/Lake

Hopatcong

SalesTop Three

As of 8/31/2009

Antje VirostekCorporate

Headquarters

Carol BrandonLanding/Lake

Hopatcong

Smith Ramchandani

Morristown West

Combined Revenue UnitsTop Three

As of 8/31/2009

Kelly Mitchell Vernon

Smitha Ramchandani

Morristown West

Gary Ribe Roxbury

Essex/Morris/Sussex RegionTop 20

14. Diane Saland, Short HIlls15. Antje Virostek, Corp. Headquarters16. Carol Brandon, Landing17. Diane White, Short Hills18. Marjory Davis, Short Hills19. Gary Ribe, Roxbury20. Sharon Hughes, Mendham


7. Mary Weichert, Chatham8. Didi Rosen, Livingston9. Eileen Scott, Mendham10. Audrey Katz, Livingston11. Shari Miller, Livingston12. Dawn Corbo, Sparta13. Brenda Klipper, Corp.

Headquarters


1. Arlene Gonnella, Short Hills2. Marlene Vegter, Madison3. Smitha Ramchandani, Mo-West4. Cherre Shwartz, Maplewood5. Nancy, Doyne, Corp.

Headquarters6. Lindy Peteet, Mendham

Essex County, Closed UnitsAs of August 31st , 2009

Morris County Closed UnitsAs of August 31st , 2009

Sussex County Closed UnitsAs of August 31st , 2009

Warren County Closed UnitsAs of August 31st , 2009

#1 Must Do

Get Social with Social Media.


50% of all leads generated within the next five years will be thru

social media sites

- NAR

http://narblog1.realtors.org/mvtype/speakingofrealestate/

Social Networking SitesFacebook, Linkedln and Twitter

Facebook More then 250 million active

users More than 120 million users

log on to Facebook at least once each day

The fastest growing demographic is those 35 years old and older

Great way to connect with people

Great way to get referrals

5 Simple Ways to Get Started

1. Set up your profile on2. Set up your Slideshare application3. Get started on 4. Answer Questions on Trulia Voices5. Answer Questions on Zillow Advice

#2 Must DoHarness the Power of Face

to Face. (more scarce = more impactful)


The End GameThe End Game

“I canceled my $4,500 web site and I’m using the money to host dinner parties.”

#3 Must Do

Create a “Tax Credit” Mentality with Buyers.


Tick Tock

.

Mortgage Application Deadline – 10/15/2009That’s less than 30 days away!

Why So Impactful?

71

Recent Sale Date

Property Sales Price Previous Sale Date

Previous Sales Price

Percent of Change

8/09 1 Copperfield Way, Randolph

$575,000 2/05 $730,000 -21%-21%

9/09 10 Condit, Mt. Lakes

$1,075,000 11/06 $1,275,000 -18.6%-18.6%

9/09 3 Heritage, Basking Ridge

$1,200,000 6/06 $1,610,000 -25%-25%

6/09 30 Louis Drive, Mt. Olive

$485,000 5/05 $685,000 -29%-29%

8/09 9 Old FordgeOxford

$271,500 9/04 $335,000 - 19%- 19%

9/09 44 Ridgedale,Morristown

$340,000 6/05 $376,000 -10%-10%

“The sale is made based on the belief of the salesperson, not the belief of the prospect.”

Step 1: Mentally think of a number from 1 up to 10.

Step 2: Take that number and multiply by 9.

Step 3: Take the result and add the number together (i.e. 72 = 7+2).

Step 4: Take that number and subtract 5.

Step 5: Take that result and equate it to a letter of the alphabet (i.e. 1=A, 2=B, etc).

Step 6: Think of a country beginning with that letter.

Step 7: Think of an animal that begins with the second letter of the country name.

"How many people are thinking of elephants in Denmark?"

I’m going someplace with this…

Seeing the OpportunitySeeing the Opportunity

Prices Rates

High

Mid-Range

Low

Let’s do this at our tables:1. Draw a V on a piece of

paper2. The top of the V is high,

the bottom is low3. Put a dot on the Prices line

to indicate where you think prices are right now.

4. Put a dot on the Rates line to indicate where you think rates are right now.

#4 Must DoWork the Trade Up.

(significant improvement spring 2010)


Your Home vs. the Home You’ll PurchaseYour Home vs. the Home You’ll Purchase

Home A Home B Cost of Upgrade

Past

Current

Difference

If the home you’re purchasing when you’re moving up has adjusted the same percentage of its value as the

home you’re selling, your move is now more affordable.

Your Home vs. the Home You’ll PurchaseYour Home vs. the Home You’ll Purchase

Home A Home B Cost ofUpgrade

Past

Current

Difference

Key Points to Remember• Sellers may be afraid to lose money in this

market.• Help them see how much money they can

save by moving up in a declining market.• Keep in mind… this approach only works for

people moving into a higher-value home that’s declining at the same rate or greater.

#5 Must DoAsk for your full fee and

negotiate from there.


2.5% to 3.5% is a ______ increase.

40%

2.5% to 3.0% is a ______ increase.

20%

#6 Must Do“UP” Your Personal

Brand Image.


New Weichert Signs (soon)New Weichert Signs (soon)

Touch Points:(Based on Actual Customer Feedback)

Signs: no stickers (name and cell)Open House Handouts: (customized with your

name and contact, color, etc)Property Brochures in your listings: use Quantum

Copy type quality brochuresPersonal Web site: Professional, Clean, Free of

Clutter, Updated Business Cards: Current & Professional photoCar: Must be clean

#7 Must DoBuild your E-Marketing

Database @ www.weichertimail.com


www.weichertimail.com

What do you do with these?

Email@

#8 Must DoUtilize Postlets (or like distribution service).


#9 Must DoLeverage Weichert.Com


On Weichert.com

Calls to WLN

Already working with an Agent and using the site to search for homes

Past Customers who will decide to use the same agent again

Going to ask a friend who to use

Taking offline action

2% of Weichert.com visitors 2% of Weichert.com visitors contact WLNcontact WLN

98% of our Visitors

are:

2% contact WLN

In August Weichert.com had 1,449,069 unique visitors, only 27,125 contacted WLN

Associate Profile pagesAgent profile pages

combined can get 200,000 to 300,000 views per

month

Make sure your profile is updated on WeichertOne.com!

Leverage Weichert.Com

84 Farley, Short Hills$2,900,000

1 Park Place, Short Hills$3,495,000

#10 Must DoNever….Ever…Ever….


…….Forget How Important Your Job is to .Forget How Important Your Job is to People.People.

The Top 10 Must Do Actions For 20101. Engage in Social Media2. Harness the power of Face to Face3. Create a “Tax Credit” mentality with buyers4. Work the Trade Up5. Ask for the full fee and then you can negotiate6. “UP” your brand image7. Build your e-marketing database 8. Utilize Postlets (or other distribution sites)9. Leverage Weichert.Com10. Never, ever forget how important your job is

Questions for me?

Documents

10 Must Do For 2010