How to Combat Media Doom and Gloom
December 27, 2006 (RISMEDIA) - What should brokers and agents be doing to counter
negative spin? Real estate leaders offer advice.
For many people, a new year brings about hope for change-a change in the market,
new enhancements to help better the consumer experience and new thoughts on
the public's perception of the real estate market. Here, two real estate practitioners
discuss how industry professionals can battle the negative press surrounding
us.
Dispelling the Myth
Tom Kunz
President and CEO
Century 21 Real Estate
www.century21.com
It's no secret that the media has created some noise around the idea of the
downside in the changing real estate market. For those of you who have lived
through more challenging economic times and have seen the cyclical nature of
real estate, you know this is a foolish and potentially damaging idea.
It is our responsibility to dispel this myth of doom and gloom, and replace
the media's rhetoric with some hard facts. We have been making a concerted effort
to equip CENTURY 21® System members with compelling positive messages about
real estate to prepare them for dealing with tough questions from consumers
and reporters.
What we hope to convey to consumers is that the industry is still experiencing
single-digit interest rates, one of the best indicators to buy. We also need
to insert some context on today's market: In coming down from a nine-year record
high, this is still a positive and normal market.
Unfortunately, the sales associates who have entered the real estate market
in the last few years don't know what it's like to deal with today's environment.
We've responded by creating training specifically designed for this market.
New courses are available for working with buyers, staging a home, and one course
called "Capitalizing on Market Dynamics," that deals directly with
today's real estate environment.
We've also made it easier for consumers by providing informative podcasts on
home-buying and -selling, along with tools like Century 21 Mobile, which allows
consumers to search for listings from the convenience of their Internet-enabled
cell phone or Blackberry.
As is expected, the agents with solid business and marketing plans for listings,
great reputations for providing fantastic service to clients, and strong referral
bases will continue on. These are the quality agents we hope to attract and
keep with our tools and programs. By taking an assertive stance and giving our
System members some strong resources, we are poised to keep up our momentum.
A Hiss, Not a Bang
Julie Mategrano
Director, Industry Relations/Compliance
BIRDVIEW Technologies, Inc.
www.birdview.com
Some bubbles "burst" with a loud bang and the bubble disintegrates.
Some bubbles just "hiss" a little and go flat. The latter, I believe,
more accurately reflects today's "deflating" real estate market. As
consumers react to negative press about drops in sales, falling market values
and homes staying on the market much longer, agents and brokers need to help
consumers maintain a broader, more holistic perspective.
Real estate is always cyclical; thus today's market conditions must be considered
historically, not just in the context of the last five years. Brokers and agents
must be the experts, armed with information and insight to help buyers and sellers
understand market changes and interpret market statistics in the context of
their individual circumstances.
We must interpret today's media hype in a positive way and provide sound advice
that grounds consumers in reality, helps them avoid pitfalls and encourages
them to keep an eye toward the future.
Although today's real estate market seems favorable to buyers, they must still
beware of enticing incentives such as all-expense-paid vacations that inflate
home values. Agents should understand actual home values but also help buyers
and sellers avoid gimmicks that do not improve them.
Another media-hyped concern for buyers is rising interest rates. While any
rate below 10% is considered good, agents must use historical data to explain
the current rate's advantages to hesitant potential buyers.
Further, a strong marketing plan that increases exposure of listings nationally
and regionally via other Internet-based media outlets is essential.
The process of buying and selling real estate has undergone numerous fundamental
changes over the past few years. New tools and techniques have entered the landscape
and will keep brokers and agents at the forefront of creating positive experiences
for
consumers.
Source: Real
Estate magazine, December 2006
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