First, the national media reported that NAR’s figures showed a decline of 27.2 percent of existing home sales from June to July of this year. Allegiance saw a decline of twenty percent. This was not unexpected due to most tax-credit-generated closings having closed in June. What’s more, June was the best month we’ve had in two years and likely the best month in three or more years if based off of a transactions per Associate formula. The tax credit did stimulate the sale of homes and had to come to an end at some point.

Let’s focus on three major issues regarding the purchase of a home: rates, prices, affordability and unemployment.

Interest Rates
Happily, the media has been reporting that mortgage rates remain at historic lows, reportedly 4.59 percent according to bankrate.com. Five years ago, rates were about 6 percent. Ten years ago, rates were about 8.5 percent. In fact, since rates were tracked beginning in the 1960s, they have never been lower.

Prices
We all know that prices have fallen dramatically since their peak. That has been harmful to some but has created opportunity for others. A breakdown (Q2 2010 is a prediction by NAR):

US
2007 Median: $217,900
Q2 2010: $176,900

Metro DC
2007 Median: $430,800
Q2 2010: $331,600

Richmond
2007 Median: $233,700
Q2 2010: $199,600

Hampton Roads:
2007 Median: $226,800
Q2 2010: 210,000

Prices are up in most of our markets from last year.

Affordability Index
The Housing Affordability Index, a standard adopted by the National Association of Realtors, measures the financial ability of consumers to buy a home. The index compiles three factors – median income (reported by the Census Bureau), median house cost and median mortgage rates. An index of 100 indicates that a family earning the median income has exactly enough to qualify for the going mortgage rate to purchase a median-priced home.

Q1 2010: 175.3
2007: 115

An index of 100 indicates that a family earning the median income has exactly enough to qualify for the going mortgage rate to purchase a median-priced home.

Thus, anything over 100 shows that the median family has more than enough income to qualify, indicating that houses are particularly affordable at that time. Tracked since 1971, it’s never been higher. So, in the last 39 years, it’s never been more affordable to buy a home than it is today.

Declining interest rates have offset an increase in median prices nationally from January to July. If we continue to see an increase in prices, the affordability index will come down a bit.

Unemployment
Economists predict housing will remain soft while unemployment is high. The national unemployment numbers are consistently reported while local numbers are not. The trouble with this is people look at national numbers and, even if currently employed in a position with great prognosis for longevity, they get spooked. Instead, if they focused on local numbers, they may feel more comfortable making a large purchase.

June National Unemployment: 9.6%
“Normal” National Unemployment Rate: 6%

Our Markets:

DC Metro:
Anne Arundel County: 6.9
PG County: 7.4
Montgomery County: 5.7
DC (city proper): 10.5
Arlington: 4.3
Alexandria: 4.8
Fairfax County: 5.1
Loudoun County: 5.0
PW County: 5.9
Stafford County: 5.8

Richmond Metro:
Richmond (city proper): 10.6
Chesterfield County: 7.2
Henrico County: 7.0
Hanover County: 6.6

Hampton Roads Metro:
Newport News: 8.2
Chesapeake: 7.2
Portsmouth: 9.4
Suffolk: 8.4
Norfolk: 9.8
Virginia Beach: 6.6

Urban cities traditionally have a higher rate of unemployment.

Nearly every one of our markets has a lower rate of unemployment compared to the national average. Many markets have a significantly lower rate. Educate past clients and prospective purchasers when it comes to local unemployment numbers.

It’s time to tune out the noise. You have the education, tools and brand to succeed. Keep your eye on the ball and continue to do what you excel at – selling homes.

Danette Lynch    Ashburn
Jill Durante    Burke
Barbara Mandley    Burke
Brenda Riffe    Burke
Narda Rodriguez    Burke
Susan Whittenberg    Burke
John Berger    Cheaspeake
Patty Cohen    Cheaspeake
Barbara Glover    Cheaspeake
Trent Roberts    Cheaspeake
Lisa Saunders    Chesapeake
Sam Simmons    Cheaspeake
Bob Smith    Cheaspeake
Jamie Lancaster    Chesapeake
Lamar Simmons    Dale City
Carl Smith    Dale City
Rob Bergman    DC
Jerry Johnson    DC
Steve Pflasterer    DC
Joyce Wehrle    DC
Diana Cianto    Franconia
Eduardo Espichan    Franconia
Brent Sykes    Franconia
Susan Beuchert    Fredericksburg
Alberta Davis    Fredericksburg
Gloria Banks    Kingstowne
Denise Buck    Kingstowne
Carlos Chacon    Lee Highway
Rob Ferguson    Leesburg Pike
Ellen McRae    Leesburg Pike
Will  Carder    Redmill
Marianne KcKittrick    Reston
Bud First Richmond
Eli Rich Richmond
Phyllis Bledsoe Virginia Beach
Willie Colston Virginia Beach
Kathy Elliott Virginia Beach
Vic Esposito Virginia Beach
Jorge Gonzalez Virginia Beach
Lynn Hume Virginia Beach
Dave Macklin Virginia Beach
Lamar Raker Virginia Beach
Judy Reed Virginia Beach
Fred Ritchie Virginia Beach
Gerry Sessor Virginia Beach
Jackie Szpiech Virginia Beach
Roy Ward Virginia Beach
AJ Williamson Virginia Beach
Jim Casamento    Staff
Carolyn Deese    Staff
Christine Finklestein    Staff
Elizabeth Flaherty    Staff
Bruce McGarry    Staff
Jen McLean    Staff
Marian Petersen    Staff
Debbie Riordan    Staff
Jackie Shively    Staff

Individuals:

3. Willie H. Colston, RE/MAX Allegiance, Virginia Beach, VA

42. Jake Sullivan, RE/MAX Allegiance, Mclean, VA

56. Thomas S. Buerger, RE/MAX Allegiance, Washington, DC

Teams:

9. Vicki Nellis, RE/MAX Allegiance, Burke, VA

44. Tom Faison, RE/MAX Allegiance, Washington, DC

59. Lonnie S. Bush, RE/MAX First, Virginia Beach, VA

70. Robert T. Ferguson, RE/MAX Allegiance, Alexandria, VA

We Are Stable
While our competition has cut major services, closed offices with one day’s notice, increased referral fees and rolled back commission splits, we have weathered this economic downturn with little service impact and no fee increases to Associates.

Our Associate count has stabilized and our transaction counts, through the first quarter, were about even with 2009.

The company is debt free and RE/MAX International is going strong, continuing to sell franchises in dozens of countries throughout the world.

We Are Growing
We’re proud and pleased to be building new office spaces in Virginia Beach and Woodbridge to replace some of our older offices. Both new, state of the art, offices should open later this year.

We’re aggressively pursuing recruiting and acquisition opportunities, realizing that controlled growth based on logic is the way to go.

We Are Progressive
RE/MAX Allegiance is the most progressive real estate company in our markets and is more progressive than most real estate companies worldwide. I attend real estate conferences across the country and am often struck when I hear about the newest service, only to realize that Allegiance has been doing it for years or tried it and improved upon it. Sometimes we try services that do not work out as planned. I have no regrets, as we are always looking to improve on what we do, take risks and set ourselves apart from the competition. I believe that consistently doing nothing is far worse than trying new things, most of which work out as planned.

In 2009, we added services, brought in renowned speakers and organized what was widely recognized as our best company convention ever. We continue to have the most robust education program of any real estate company that I know of.

Because we’re progressive, RE/MAX Allegiance wholeheartedly supports NAR’s Second Century initiatives, including Realtors Property Resourcee (RPR).

We Excel at Premier Community Citizenship

Over half of our Associates participate in Children’s Miracle Network’s Honor Program and helped raise nearly $150,000 for local children’s hospitals in 2009. This amount exceeded donations the previous ten years combined and was more than any RE/MAX company in the Central Atlantic Region raised last year. Additionally, we have a seat on the local RE/MAX Advisory Council for Children’s National Medical Center in Washington.

Many Associates contribute their time to numerous community organizations throughout our markets including, in 2009, participating in ABC’s Extreme Makeover Home Edition.

We Are Leaders
We have many Associates, Brokers and Executives in positions of leadership within local, state and national Realtor Associations, including more members of the Virginia Association of Realtors’ Board of Directors than any other company.

We’re members of RE/MAX International’s Premier Broker Group and one of RealTrends’ CEO groups. Additionally, we will be one of the first real estate companies to join RisMedia’s Real Estate Information Network in the coming months.

We Are Still Number One
I am pleased to report that, in two different and widely read real estate industry surveys, RE/MAX Allegiance remained the Number One Selling RE/MAX Company in 2009. Other RE/MAX franchises have more Associates, but nobody outsells RE/MAX Allegiance.

We Are RE/MAX Allegiance!
All of the owners are excited about the direction of our company and look forward to ever increasing opportunities as they present themselves. As always, I am open to suggestions and ideas that you may have. Together we will continue to be the Number One Selling RE/MAX Company in the World!

20+ Tips: Award Winners Tell All

Here are 22 success strategies from some of the network’s top producers in 2009:

“Do more of the things you do well, and don’t worry about everything else.”
– Phil Bolin (ABR, CDPE, CRS, SRES), RE/MAX Allegiance, Alexandria, Va. (Platinum Club)

“First and foremost, stay associated with RE/MAX. Have a positive attitude and surround yourself with good people. Also, work to stay in touch with past clients.”
– Ken Brown (CERP), RE/MAX Performance Realty, Winnipeg, Manitoba (Platinum Club)

“Nothing ever works right away, so you have to be consistent and give yourself a chance to hit a stride.”
– Barry Cohen (CREA), RE/MAX Realtron Realty, Toronto, Ontario (Diamond Award)

“Be honest and sincere. Buyers and sellers can sense it, and when they do, they will refer you to their family and friends.”
– Vito Ettorre, RE/MAX Excellence Realty, Woodbridge, Ontario (Hall of Fame)

“It’s time for back-to-the-basics prospecting, Brian Buffini said the same thing this morning. You need to prospect for a couple hours every day, no matter what else is going on. It’s how you get the leads. It’s not an easy thing to do. You have to commit to it.”
– Fred Evans (CLHMS, CDPE), RE/MAX Gold Coast, Ventura, Calif. (Chairman’s Club)

“I never miss a RE/MAX Convention, and this is No. 18 in a row. If you don’t come, you don’t learn and you don’t improve. You can take the strategies you learn and pick three to try right away, then pick three more and three more. Just start somewhere, and you’ll be running in no time. And only work with people who love you, because they’ll tell other people that they love you.”
– Frank Gerbes (ABR, CDPE, CRS, SRES), RE/MAX Benchmark Realty Group, New Windsor, N.Y. (Lifetime Achievement Award, Platinum Club)

“Make sure you follow up with everyone and everything.”
– Kristi Idol, RE/MAX Preferred Properties, Kernersville, N.C. (Platinum Club)

“Don’t go on holiday. You think I’m joking but I’m not. At the end of ’08 I knew it was going to be a tough year, so I pledged to work nonstop. I had my best year ever under very difficult circumstances.”
– Michael Joseph, RE/MAX Cayman Islands, Grand Cayman, Cayman Islands (Chairman’s Club)

“It’s 100 percent about personality, so socialize with your clients – get to know them. If you stay down to earth, you’ll make the most valuable connections.”
– Vesna Kolenc, RE/MAX Excellence Realty, Woodbridge, Ontario (Diamond Award)

“Organize your schedule. Work on your paperwork in the morning and spend every afternoon with customers and prospects. Also, always have a smile on your face.”
– Michel Noreau (CREA), RE/MAX Vision, Gatineau, Quebec (Platinum Club)

“Focus on the basic fundamentals: calling past clients, prospecting for new business with FSBOs and expireds, and following up on leads. Also, educate yourself and try to learn from your peers.”
– Eric Pakulla, RE/MAX Advantage Realty, Columbia, Md. (Diamond Award)

“Create a business plan and have a system in place where someone holds you accountable.”
– Mark Parris (ABR, CLHMS, CDPE, CRS, e-Pro), RE/MAX Renaissance, Peoria, Ariz.

“You have to work smarter, not harder. Have systems in place and anticipate changes in the market. They come every day.”
– Josephine Pierce (CDPE, CRS, SRES), RE/MAX Realty Team, Cape Coral, Fla. (Chairman’s Club)

“Having goals in No. 1. Track your production and know where you’re going and where you’ve been. If you have a plan to get where you want to go, you’re sure to get there.”
– Sheila Rafuse (ABR, ASP), RE/MAX Nova, Dartmouth, Nova Scotia (Platinum Club)

“Live the business. Go 24/7 and do whatever it takes.”
– Jim Rossi, RE/MAX 2000, Crete, Ill. (Hall of Fame, 100 Percent Club)

“Get a coach. We’re coached by Buffini and Company; if you work the system it works for you. We go to Brian’s training sessions all the time. He’s changed our careers.”
– Chris Ruszkiewicz (Hall of Fame, 100 Percent Club) and Steven Westrick (Hall of Fame, 100 Percent Club), RE/MAX Realty 100, Hales Corners, Wisc.

“Always surround yourself with people you think are better than you. If you are the top dog, you’ll never get better. If you’re the middle fish, you have somewhere to go.”
– Julie Salinas (CDPE), RE/MAX Gold, Fresno, Calif. (Hall of Fame, Chairman’s Club)

“Listen to your customers. It’s that simple.”
– Colleen Sample (CDPE), RE/MAX of Stuart, Stuart, Fla. (Hall of Fame)

“Be really genuine, considerate and easy-going. Always follow up and if you say you’re going to do something, make sure you do it.”
– Tamara Siemens, RE/MAX Cayman Islands, Grand Cayman, Cayman Islands (Hall of Fame, Platinum Club)

“Consistency is vital. Keep doing what you’re doing if it’s working out for you.”
– Pat Slack (ABR, CDPE, CRS), RE/MAX Pros, Oklahoma City, Okla.(Platinum Club)

“I do it because I love the work and I love my clients. Focus on service.”
– Madeleine Sollazzo, RE/MAX 2000, Laval-des-Rapides, Quebec (Lifetime Achievement Award, Chairman’s Club)

“Keep working and never give up. Get organized and keep an agenda, and always return calls and e-mails.”
– Danny Wai, RE/MAX Real Estate (Mountain View), Calgary, Alberta (Platinum Club)

“You have to concentrate on networking as well as social media to build up ambassadors for your business.”
– Jorgen Warberg (CIPS), RE/MAX Goteborg City, Gothenburg, Sweden (100 Percent Club)

© 2010 RE/MAX International, Inc. RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved.

Flip Video Helps Veteran With Overseas Clients

By Deborah Ball, RE/MAX Times Online Associate Editor

When Debbie Wicker received a recent referral from a past client, she used social media, concierge service and constant communication to successfully close the transaction. The clients, Dave and Silvia, were looking for a home in the Leesburg, Va., market served by Wicker, a Sales Associate with RE/MAX Allegiance in Ashburn.

There was one catch: her clients, a married couple who worked for Chevron, were living in Angola, Africa. They were purchasing a property sight unseen until move-in day.

After getting the couple’s wish list for the ideal stateside home, Wicker looked for properties that matched her clients’ needs. She also used a new tool called Listingbook.com – a real estate search engine that allows clients to browse the MLS just like an agent – to give Dave and Silvia a way to quickly and thoroughly search through the local inventory.

When she came across a house that seemed to fit the bill, Wicker brought her Flip video camera – the first time she had ever used it to capture video of a property for a client – and a digital camera. After taking multiple photos, videos and notes inside and out, she e-mailed the videos and pictures to the clients in Africa.

“The clients loved the house, but wanted to be extra sure about their purchase,” Wicker says. “Silvia sent her sister and a friend to preview the property. I took even more photos and Flip video of the interior, exterior and the neighborhood to give them a real feel of what the home and the neighborhood was like. They hired a professional photographer to take even more photos so they could decide on remodeling options for the kitchen and bathrooms.

“Using videos, photos, e-mail and constant communication helped me close this transaction. Recording the video with the Flip camera was so easy. It proves that you can help clients find the perfect home no matter how far away they are.”

Wicker, who has been in real estate for 22 years, never imagined she’d use photos and videos so intensively in a transaction. It serves as a good reminder to real estate agents to be open to new ways of doing business, she says. RE/MAX agents, Wicker adds, should take advantage of the network’s international reach instead of solely relying on local clients for new business.

“If you keep in touch with your current and past clients, you’ll get quality leads – even if those leads are in another state or country,” Wicker says. “Your clients will refer you because they know that you can truly help people anywhere in the world. People are intrigued that we have such a great referral network and they trust the RE/MAX brand. When you’re dealing with any client – especially a client who is buying internationally – you have to be very organized, light on your feet and help with any request that will help make the client’s purchase and move a smooth transition.”

Black Enterprise invited owners of large technology firms, single-person shops, and part-time businesses— or somewhere in between—to share their stories with readers. We asked one simple question: How have you used technology to make over your business? We received numerous responses to our tweets, as well as to our Facebook and LinkedIn queries, and selected companies that reflect the variety of resources available and the ways in which even a small investment can make a huge difference in revenues, outlook, and mindset.

Company: Nancy Alert & Associates L.L.C. [2]
Principal: Nancy Alert working under RE/MAX Allegiance
Location: Northern Virginia and Washington, D.C. (also licensed in Maryland)
Type of Business: Real Estate
2009 Revenues: $200,000-$250,000
In real estate, 2009 was just an ugly year. I decided I needed to get back to revenues of the year past, when I was making real money. I wanted to do what I could to make myself stand out and measure those efforts to see if they worked. So I implemented a number of new (to me) technologies to improve productivity and save time.

I have added DocuSign [3] to my business. It costs $19.95 per month, with no contract required. You can cancel at any time or just order a month here and there. With DocuSign I can get my clients’ signatures on a contract or lease, even if they do not have a printer or fax machine. I send the contract to my clients via e-mail with a link to DocuSign; then they adapt a signature and sign and initial where indicated, and that’s it. I e-mail the signed contract to the other parties.

Another service I use is eFax [4] ($9.95/month, discounted through RE/MAX), which does not require any equipment or implementation on my part other than to start giving out my 800 fax number. If I am out of town and receive a faxed contract or lease, I can forward that e-mail to my clients, have them sign and e-mail it, then send that document to all parties.

I have also invested in my tech education. I successfully completed a course called e-Pro [5] ($349, discounted through National Association of Realtors), which helps real estate professionals leverage technology to increase sales. The e-Pro designation says you know how to work with the new technologies in real estate.

Because I decided this would be the year I got more tech savvy, I also invested in a Kodak Zi8 HD [6] video camera ($179 on sale), which takes still photographs and video. I take photos of all my listings, and then upload them to my Website and to about 35 to 40 real estate portals. I also upload photos and videos of my new listings to Facebook and Twitter and to my blog. I can add more real estate-specific information on YouTube [7] and other social media sites.

I have added the following social media tools to my online marketing efforts: LinkedIn [8], ActiveRain [9] (real estate specific), RealTown [10] (real estate specific), Plaxo [11], and several others—and they’re all free. These took a little time to set up, but are well worth the effort in terms of the reach they afford me.

The core thing you need to understand is that today, according to the National Association of Realtors, 80% of buyers search online listings. So you must have your listing at every place that the buyers are looking. Video serves a great purpose in that it ties in the whole social media experience. Videos are the first go-to for homebuyers—and not necessarily just for videos of the properties. It could also be a message you want to give to prospective buyers. Having a video on YouTube takes you to another level, and here is what I’ve learned: If you want to maintain your level in real estate or any sales business, you definitely have to be involved in social media.

I can attribute an additional $50,000 in revenues to the tech tools I’ve implemented and expect 2010 revenues of between $300,000 and $350,000.

URL to article: http://www.blackenterprise.com/events/women-of-power/women-of-power-articles/2010/03/04/a-tech-makeover-story-2/

URLs in this post:

[1] Image: http://www.blackenterprise.com/files/2010/03/03Tech-Nancy_Alert1a.jpg
[2] Nancy Alert & Associates L.L.C.: http://www.nancyalert.com
[3] DocuSign: http://www.docusign.com
[4] eFax: http://www.efax.com
[5] e-Pro: http://www.epronar.com
[6] Kodak Zi8 HD: http://www.kodak.com
[7] YouTube: http://www.youtube.com
[8] LinkedIn: http://www.linkedin.com/
[9] ActiveRain: http://activerain.com/
[10] RealTown: http://www.realtown.com/
[11] Plaxo: http://www.plaxo.com/

Teams:
11. Vicki Nellis, Burke, VA
54. Tom Faison, Capitol Hill, Washington, DC
61. Frank L. Prindle, Old Town, Alexandria, VA
95. Judy Reed, Virginia Beach, VA

Individuals:
12. Willie H. Colston, Virginia Beach, VA
- Inducted into Circle of Legends this Week
64. Kristin Kelly, Leesburg Pike, Alexandria, VA
80. Thomas S. Buerger, Georgetown, Washington, DC

At the same ceremony, Charlie Bengel, Jr., CEO of RE/MAX Allegiance, was inducted into NAR’s Omega Tau Rho service fraternity. Charlie sits on the board of the Virginia Association of Realtors and represents RE/MAX Allegiance on the National Association board of directors.