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The Spring edition of the REALTOR Review.
Citation preview
A publication of the Raleigh Regional Association of REALTORS®
REALTORSPRING 2011®
review
Nationwide Open House JUNE4-5
2010 Year in Review
REALTORS® recognized for “giving back”
1 FromthePresident
3 NeighborsHelping Neighbors
7 NewsMakers
21 LocalMarketUpdates
24 NewMembers
departments
RALEIGH REGIONAL ASSOCIATION OF REALTORS®
111RealtorsWay,Cary,N.C.27513Phone:919-654-5400;Fax:919-654-5401www.rrar.com
RRAR OFFICERSLindaTrevor,PresidentMarshallGay,Vice PresidentStaceyAnfindsen,President ElectAsaFleming,Secretary/TreasurerTheresaClark,Past President
RRAR DIRECTORS StaceyAnfindsen BeckyHarperVinceBankoski GraysonHodgeAutumneBennett MortyJaysonPhyllisBrookshire CarolMcCormickEddieBrown MelanieOsborneDavidChance MollieOwenTheresaClark JohnPaceKellyCobb TeresaPittSteinaDeAndrade ZachSchabotHarrietteDoggett JoseSerranoLaurieDonofrio TomSmithAsaFleming JoshSwindellMarshallGay LindaTrevorTomGongaware MaryEdnaWilliamsLewisGrubbs JohnWood
REALTOR® FOUNDATION OF THE TRIANGLE OFFICERS MarshallGay,PresidentGaryRabon,Secretary/TreasurerJoeyRobbins,Past President
NCAR REGIONAL VICE PRESIDENTS TheresaClark JohnWood
NAR DIRECTORS EddieBrown JohnWood
TRIANGLE REALTORS® LEADERSHIP ACADEMY DEAN AsaFleming
Membersarecautionedthattheinclusionofaname,specificcommercialproductorserviceinanarticle,orinthispublicationdoesnotimplyendorsementbytheRaleighRegionalAssociationofREALTORS®.AlladvertisersinthispublicationwhollysupporttheFairHousingActandfullypromoteequalopportunityhousing.
Copyright2011bytheRaleighReg-ionalAssociationofREALTORS®.Allrightsreserved.
REALTOR® REVIEW STAFF: PatriciaGregoryRand,managingeditor, [email protected],APR,editor,[email protected],assistanteditor, [email protected],intern,[email protected],graphicdesigner, [email protected]
Foreditorialcontributionsandadinquiries,[email protected](919)654-5400.
SPRING 2011, VOL. 3, NO. 2REALTORreview
®
5SET YOUR SIGHTS ON
GREEN HOME TOUR The Green
Home Builders of the Triangle will present its
annual tour of green-certified homes May 14-15 and May 21-22.
6 10 WAYS TO GREEN YOUR HOME Here are
some practical measures for making your home more energy efficient and Earth friendly.
9 REAL ESTATE AGENTS: PLUG
INTO GEN X, GEN Y BUYER PREFERENCES Update your marketing as a “Trusted Resource” to appeal to four generations.
features
Preliminary Identity Colors
Dark Blue PMS 282CMYK: 100, 72, 0, 56RGB: 0, 40, 93
PMS 282
Blue PMS 299CMYK: 85, 18, 0, 0RGB: 0, 158, 221
PMS 299
Light Purple PMS 265CMYK: 54, 56, 0, 0RGB: 129, 119, 183
PMS 265
Purple PMS 360CMYK: 58, 0, 80, 0RGB: 115, 193, 103
PMS 360
MEASURE WHAT MATTERS TO YOUR REAL ESTATE SITE Analytics can relate online activity to the bot-tom line and company values.
27 7 TIPS TO CREATE REAL ESTATE
MARKETING BUZZ These suggestions will get the creative juices flowing and people buzzing about you.
17 COMMERCIAL REALTOR® OF
THE YEAR TCAR recognizes Smedes York as Commercial REALTOR® of the Year and many others.
30 CalendarofEvents
32 Bits&Pieces
rrar.com
25
Spring 2011 REALTOR® Review 1
MISSION STATEMENTTheRaleighRegionalAssociationofREALTORS®,thearea’svoiceofrealestate,promotesthehighestethicalandprofessionalstandardsandcooperationamongitsmembers;providesproducts,programsandservicestomeettheevolvingneedsoftherealestateindustryandconsumers;andservesasaleadingadvocateofprivatepropertyrightsandcommunityinvolvement.VISION STATEMENT“Anticipatingandmeetingtheopportunitiesandchallengesofourindustry.”RRAR 2011 COMMITTEE CHAIRS Bylaws:StaceyAnfindsenBuilding:StaceyAnfindsenCommunityService:LisaJeffriesGovernmentalAffairs:TheresaPittRPAC:StaceyAnfindsenHousingOpportunity:JohnHartofelisPersonnel:GaryRabonGrievance:VanessaCastillioProfessionalStandards:HarrietteDoggettStrategicPlanning:StaceyAnfindsenNominatingCommittee:PhyllisBrookshireRRAR 2011 COUNCIL CHAIRS PropertyManagement:DebbieHenryInternationalCouncil:DianaBraunTopProducers:DeborahMcCraeandJaniceRosenbergWomen’sCouncil:DianaBraunYoungProfessionalsNetwork:DavidChanceRRAR STAFF DIRECTORYMainOffice (919)654-5400Fax(919)654-5401www.rrar.comRRARCompanyStore (919)654-7253ExecutiveVicePresident RaymondC.Larcher,Ext.218,[email protected] BetsyRamsey,Ext.217,[email protected] VickiBuckholtz,Ext.216,[email protected] PatriciaGregoryRand,Ext.239,[email protected] CarolineShipman,Ext.238,[email protected] CaraMottershead,Ext.211,[email protected] SonyaYankoglu,Ext.212,[email protected] MaryRachelWhite,Ext.210,[email protected] TaraL.Robbins,Ext.215,[email protected] SheliaClark,Ext.200,[email protected] YukariPowers,Ext.201,[email protected] STAFF DIRECTORYVicePresidentofOperations RachelWiest,Ext.219,[email protected] ChristyNew,Ext.220,[email protected] LetitiaSantos,Ext.234,[email protected] RainaJoyner,Ext.242,[email protected] CarolHamrick,Ext.213,[email protected] BonnieEaddy,Ext.207,[email protected] KathyMatheson,Ext.233,[email protected] JStepp,Ext.226,[email protected]/RealistSupportAssociate JenniferHorton,Ext.227,[email protected] MattNagy,Ext.225,[email protected] AllanNielsen,Ext.208,[email protected]/MLSTrainingManager LynneBrid,Ext.232,[email protected]/TMLS MEMBERSHIP/ FINANCE DEPARTMENTMembership/FinanceDirector RandiGaines,Ext.221,[email protected] PatLong,Ext.222,[email protected] JillPressley,Ext.221,[email protected] KellyHunsucker,Ext.209,[email protected]
from the president
REALTORS®
BYLINDATREVOR,RRAR2011PRESIDENT
REALTORS® are vital to the fabric of a strongcommunity. We are the “boots on the ground,”workingthroughoutallcorners,dayinandout,abletoidentifyneedsanddoourparttofillthem.
Therecentpresentationofthe2010FredFletcherOutstandingFinancialContributorawardtotheREALTOR®FoundationoftheTriangleisgreatconfirmation.Especiallyifyouconsidertheshorttimeframethefoundationshasbeeninexistence.
Oftenwhenitcomestocommunityneed,thereisnotimetowaste.SoRFTgotbusy,funneling
funds, resources and people to-wardrefurbishing
Raleigh’sEast-gateParkplay-ground. Thework was bothfunandserious,asweknowhowimportant accesstosaferecreationis in the healthydevelopment ofyoungpeople.Turn to page 3
to readmoreabout theFredFletcherawardandanupcomingopportunitytohelpbuildtwonewplaygrounds.Considerparticipating.A look at the photos shows how good it feels to work together incommunityservice.
There are plenty of other opportunities to join the fun through theRaleighRegionalAssociationofREALTORS®CommunityServiceCom-mittee.Clickhereforascheduleofupcomingopportunitiestovolunteer.
WithalonglistofserviceinitiativesrangingfromProjectAngelTreeto student scholarships, theCommunityServiceCommittee isagreatvehicleforhelpingtheneedyinWakeCounty.
RRARmembers’actualcommunityservicecontributionsareoutlinedin the year-in-review on page 14 of this issue of REALTOR® Review.Congratulations forall thestridesdespitedifficulteconomic times. It’strulyasourceofpride.
Our collective heart and soul makesgreatthingshappen!
Linda Trevor
2011 RRAR President
Have Heart
Happy spring! Linda
CA RY1 Twin Lakes • From the low $200s
New homes created with Martha Stewart 1,408–3,280 sq. ft., 3–6 bdrms., 2–3 bathsFrom I-40, take Exit 284/Airport Blvd. toward Cary and turn right on Chapel Hill Rd./Hwy. 54. At light, turn left on McCrimmon Pkwy. to community 1.5 mi. on left. (919) 460-8860
2 Phillips Place • From the mid $200s1,865–3,345 sq. ft., 3–6 bdrms., 2–3 bathsVisit us at Twin Lakes for more information. From I-40, take Exit 284/Airport Blvd. toward Cary and turn right on Chapel Hill Rd./Hwy. 54. At light, turn left on McCrimmon Pkwy. to community 1.5 mi. on left. (919) 768-7989
C L AY TO N3 Cobblestone Place • From the low $100s
1,394–2,450 sq. ft., 3–5 bdrms., 2–3 baths From Hwy. 70 East toward Clayton, pass Hwy. 42 West and turn right on Champion St. (after McCall’s BBQ) to sales center on left. (919) 359-0193
D U R H A M4 Belcrest • From the mid $100s
1,303–2,784 sq. ft., 3–6 bdrms., 2–3 baths From Hwy. 40, take Exit 276/Fayetteville Rd. toward downtown Durham and continue less than 2 mi. to community on right. (919) 806-0398
5 Ellerbee Creek Preserve • From the low $100s1,303–2,784 sq. ft., 3–6 bdrms., 2–3 baths Take Hwy. 70 to I-85 North and exit Red Mill Rd. Turn left at end of ramp and left on Hamlin Rd. to community on left. (919) 294-4788
6 Foxwood Manor • From the mid $100s1,303–2,784 sq. ft., 3–6 bdrms., 2–3 baths Take I-40 East to Durham and take Exit 279/Hwy. 147. Go approx. 3.5 mi. and take Exit 8/Ellis Rd. Turn left on Ellis Rd., go approx. .6 mi. and turn right at stoplight to continue on Ellis Rd. Community is .8 mi. ahead on right. (919) 596-7942
DURHAM/MORRISVILLE7 Keystone Crossing • From the low $100s
1,276–1,647 sq. ft., 2–3 bdrms., 2.5 bathsFrom I-40, take Exit 282/Page Rd., go west on Page Rd. Turn left on Miami Blvd. Continue .6 mi., merge right on Church St. and make an immediate right on Keystone Park Dr. past railroad tracks. (919) 941-1581
KB Home Studio8161 Brier Creek Pkwy.From I-540, take Exit 3/Lumley Rd. Turn left on Lumley Rd., right on Brier Creek Pkwy. and right into shopping center. Studio is between Ross and Michaels.
Call (919) 768-7960 for KB Home Studio hours or to schedule an appointment.
Broker Cooperation Welcome. ©2011 KB Home (KBH). ©2011 Martha Stewart Living Omnimedia, Inc. All rights reserved. Payment of Broker Co-op requires Broker to accompany and register buyer on first visit and comply with Broker Co-op Agreement. See Built to Order™ options and upgrades offered at KB Home Studio. All options/upgrades require additional charges, may require ordering at predetermined
stages of construction and are subject to change/discontinuation anytime by KB Home. KB Home is not a custom homebuilder and Built to Order only applies to appliances/options available at KB Home Studio. Plans, pricing, financing, terms, availability and specifications subject to change/prior sale without notice and may vary by neighborhood, lot location and home series. Additional charges apply for lot premiums, options/upgrades. Buyer responsible for all taxes, insurance and other fees. Sq. footage is approximate. Photos show upgraded landscaping/options and may not represent communities’ lowest-priced homes. Map not to scale. See sales representative for details. RAL-93689
888-KB-HOMES kbhome.comBuilding quality new homes since 1957.
guideTHE
GREAT NEIGHBORHOODS • INNOVATIVE HOME DESIGNS • FROM THE LOW $100s
5
12
3
6
7
4
Ask about
our Preferred
Broker
Program
Spring 2011 REALTOR® Review 3
neighbors helping neighbors
Parks and Recreation Award Recognizes REALTOR® Foundation
In recognition of its donation to help refurbishRaleigh’sEastgateParkplaygroundat4200QuailHollow Road, the REALTOR® Foundation of theTriangle won the 2010 Fred Fletcher OutstandingFinancialContributorawardfromtheCityofRaleighParksandRecreationDepartment.
Joey Robbins, Mollie Owen, Ray Larcher and Marshall Gay received the Raleigh Parks & Recreation
Award on behalf of RFT.The Fred Fletcher
AwardsProgramwascreated to thank thethousands of volun-teers who havehelpedwithamul-titude of Raleigh
Parks and Recreation Department projects overtheyears.
Members are invited to team up with Founda-tion volunteers, along with Raleigh Regional As-sociation of REALTORS® staff and board membersFriday, May 13, and Saturday, May 14, tobuildtwonewplaygroundsforages2to5and5to
12.Apermanent signwith the Foundation’slogo will be placed at the site of the pre-school-ageplaygroundinappreciationoftheFoundation’ssponsorship.Volunteers are needed both days. No ex-
perience is necessary, just enthusiasm andwillingness to have fun! You must be age18 or older to help with this project, andpre-registration is required. To register,contact Vicki Buckholz at [email protected] or(919)654-5400,ext.216.
May 13-15 & 21-22noon–6 p.m.
919.493.8899
www.TriangleGreenHomeTour.com
A joint program of the HBA of Durham, Orange, & Chatham Counties and the HBA of Raleigh-Wake County
TRIANGLEGREENHOMETOUR.COM
FREE! AVAILABLE IN APRIL
Mobile Website& iPhone App
A diverse group of green homes open to the public for touring, with a green building professional on site to answer questions and describe their home’s green features.
Don’t miss this unique chance to see � rst-hand the renewable energy and green building practices at work in our area!
Green homes offer these special benefi ts:
• energy effi ciency
• cleaner, healthier air
• a quieter home
• reduced maintenance
• lower monthly costs
• better resale value
• a variety of state-of-the-art building and technical features
• resource conservation
Pick up your free tour book at these fun and informative kick-off events.
THURSDAY, MAY 12 • 5–7 P.M. Enjoy light refreshments and samplings at the
Raleigh Whole Foods, 3540 Wade Avenue and at the North Raleigh Whole Foods, 8710 Six Forks Road.
FRIDAY, MAY 13 • 5–7 P.M. Sample organic wines and gourmet cheeses at the
Durham Whole Foods, 621 Broad Street and at the Chapel Hill Whole Foods, 81 S. Elliott Road.
Tour books will also be available for pick-up in May at the HBA of� ces, Whole Foods,
and the homes on the tour.
Sponsored by
Set Your Sights on Green Home Tour
Spring 2011 REALTOR® Review 5
Set Your Sights on Green Home Tour
The sixth annual Green Home Tour will give the public the
opportunity to explore green home building in a range
of prices and styles.
May 14-15 and May 21-22
Carrboro
Cary
Chapel Hill
Durham
Fuquay- Varina
Mebane
Hillsborough
Pittsboro
Raleigh
Zebulon
The self-guided tour showcases onlyhousesthathavemetorexceededgreencertification requirements, according toathird-partyverifier.Someofthehousesontourwillbepartiallycompletetogivevisitorsabetterviewofgreenfeatures.Visitors also will have the opportunitytotalkwiththebuilders.
TheGreenHomeTourispresentedbytheGreenHomeBuildersoftheTriangle,a joint program of the Home BuildersAssociationofDurham,Orange&Cha-tham Counties and the Home BuildersAssociationofRaleigh-WakeCounty.
Homeson tour range fromentry levelto luxury. They are located in Raleigh,Zebulon, Cary, Durham, Chapel Hill,CarrboroandPittsboro.
Free tourbooksareavailableatareaWholeFoodsstoresandtheHBAoffices.Funkick-offeventswillbefrom5-7p.m.at Raleigh Whole Foods May 12, andDurham and Chapel Hill Whole FoodsonMay13.
Tour information also is available atwww.trianglegreenhometour.com.
828 Minerva Dale Drive Fuquay-Varina
1686 Briar Chapel Chapel Hill
104 Sharp Street Winmore
1724 Whispering Meadows Drive, Zebulon
1243 Great Ridge Parkway Chapel Hill
904 Hillsborough Road Carrboro
6 REALTOR® Review Spring 2011
Thereareplentyofways tobeabetterglobalcitizenanditstartswithyourownlivingenvironment.
Considerallaspectsofyourhomeregarding energy efficiency, re-sourceconsumption,waterusageand indoorairquality. For thoseinterestedinbuildingorremodelingahome,thiswillrequireconsider-ableresearchandknowledgeableprofessionals.Homebuyersshouldseekouthomes thatarecertifiedgreen by a third-party verifier.Green homes should operate asasystemformaximumefficiency.
A builder may earn greencertification for his home if theymeet the following 10 goals forgreenconstruction.1. The best way to start beingearth friendly is by recyclingeverything and cutting back onyour consumption throughoutthe house. Recycling one glassbottlecansaveenoughelectricityto lighta100-watt lightbulb forfourhours.
2. Select cleaning products thathaveeco-friendlyingredients;readthelabels.3. Limitwaterusagearound thehouseanduserecycledwaterforthe garden. When choosing afaucetor toilet, selectone that isa low-flow model. Consider pur-chasing a tankless water heatertoreducewastedenergy.4. Reduce energy consumptionat home by keeping it warmerin the summer and cooler in thewinter. Change air filters month-ly,getanHVACassessmentandconsider adding solar panels orgeothermalheating.5. Replaceappliancesolderthan10yearswithEnergyStar-approvedappliances.Consider that the re-frigerator uses about 18 percentof a home’s total energy bill.EnergyStarmodelsuse from10-50percentlessenergyandwaterthanstandardmodels.6. Replace incandescent bulbswithcompactflorescentlightbulbs(CFL).CFLscansave$30perbulboverthelifetimeofthebulb.
7. Chooseenvironmentallyconsci-entious flooring options, such asbamboo, cork, reclaimed hard-woodflooringorrecycledcarpet.Makesuretheinstallerusesform-aldehyde-freeglues.8. Selecthealthierinteriorfinishes.Most major paint manufacturersnow offer a low-volatile organiccompound (VOC) paint, whichreduces thehealth risksofpaint.Talkwithyourpaintprofessional.9. Even theoutsidecanbecomegreener,withbetter sitedevelop-ment, locally grown plants andcompost.10. Talk to builders who viewthe house as a system, from sitedevelopment,resourceuse,waterefficiency, indoor air quality, en-ergy efficiency and homeownereducation.
REALTORS® can use onlinesearch tools to identify green-certifiedhouses.
Formoreinformationaboutgreencertification,visittheGreenHomeBuilders of the Triangle website,www.trianglegreenhometour.com.
10 Ways to Green Your Home
Spring 2011 REALTOR® Review 7
10 Ways to Green Your Home
1-800-494-26201-800-494-2620
www.OdorSweep.com
CAN'T SELL – CAN'T RENTCAN'T SELL – CAN'T RENTGot Bad OdorsGot Bad Odors
GUARANTEEDGUARANTEEDRemoval of any odor or you don't pay
We Remove: Pet Odors – Tobacco Smoke – Curry – UnknownIn the past 3 years we have eradicated odors from over 900
apartments and homes in the Triangle area.
Take the Funk out of your Skunk!™
newsmakers
decision makers are. They alsocan identify predatory-servicing tactics and guideconsumers to theappropriateNorthCarolina stateregulatoryagencies,ifnecessary.
Each of the CSSS seller agent designation classsegmentsareapprovedasgeneralcontinuinglegaleducationby theNorthCarolinaStateBarandascontinuingeducationelectivesbytheNorthCarolinaRealEstateCommission.CSSSclassesareofferedbyAdvanceMortgageEducationInc.
Craig and other CSSS real estate professionalsare dedicated to helping North Carolina home-ownersmanagetheshortsaleprocessandminimizeanynegativefinancialimpact.
Peggy Craig earns North Carolina Short Sale Specialist Certification
PeggyCraig,brokerwithKellerWilliamsPreferredRealty-Raleigh/
Durham, earned her North Carolina Short SaleSpecialistcertification.
The Certified Short Sale Specialist (CSSS) selleragentdesignationisthefirstandonlyNorthCarolinastate-specificshortsaledesignation.CSSSdesigneesare real estate-related professionals dedicated tohelpingNorthCarolinahomeownerswhoowemorethantheirpropertyisworth.
CSSSdesigneesunderstandtheshortsaleprocess,transactional entities and who the true short sale
Peggy Craig
8 REALTOR® Review Spring 2011
1
432
1st Closing:2.5% Commission
4th Closing:4% Commission
3rd Closing:3.5% Commission
2nd Closing:3% Commission
1
SOLID REPUTATION.SOLID PARTNER.SOLID REWARDS.
SM
dreeshomes.comdreeshomes.com
Drees Homes SOLID REWARDS Realtor Program
Raleigh“Building Company of the Year”
2006
, 2007, 2009, 2010
Drees has always had a solid reputation. Because we value the relationships we’ve developed with
our Realtor partners, we’re proud to continue our Solid Rewards Program. Between January 1 and December 31, 2011, you can earn up to a 4% Commission when you sell Drees homes.
To learn more, visit one of our fine communities located throughout the Triangle or contact a Drees Market Manager for details.
*The Solid Rewards Realtor program is not available with any other offer and is paid at closing. Drees assumes no responsibility between Broker and Agent on distribution of commission. Program begins January 1 through December 31, 2011. Sales are accumulated by an individual Realtor and cannot be accumulated by a Realtor team. Commission will be paid in order of closing date, not sale date. Subject to change or cancellation without notice. See a Drees Market Manager for complete details. Energy Star applicable to single family homes only.
CARYBrandywine from the $310s 367-9028
Coles Creek from the $390s 460-4540
RALEIGHBanks Pointe from the $310s 803-4552
WAKE FORESTBowling Green from the $240s 570-2022
ROLESVILLELakes of Rolesville* from the $380s 435-1773The Village at Rolesville from the $250s 435-1773
DURHAMAsh� eld Place from the $210s 477-5844
Colony at from the $290s 477-5844American Village*
DURHAMBrightleaf at the Park** Single Family Homes from the $250s 596-9513Townhomes from the $130s 957-8617
HILLSBOROUGHChurton Grove from the $320s 732-5112
BUILD ON YOUR OWN LOT 844-9288
Decorated models open Mon., Tues., Fri., and Sat. 11-6, Sun 12-6, Weds. and Thurs. by appointment.
*By appointment only.**Open Mon.-Sat. 11-6, Sun 12-6
©2009 Drees Premier Homes, Inc. All Rights Reserved.
Pricing subject to change.
Spring 2011 REALTOR® Review 9
BYBERNICEROSS
Are you still marketing yourbusinesswithpersonalbrochures,glamour shots of yourself takenmore than a decade ago andotheragent-centricapproaches?Ifso,it’stimetoshiftgearstofitthedemands of the next generationofbuyersandsellers.
Realestatehasevolvedoverthelast several decades from beingbroker-centric to being agent-centric, and then tobeing client-centric.Thequestionis:Whatmodelisbestsuitedfortoday’sclients?
In the client-centric model, theagent is seen as a “trusted ad-viser”whoguidedclientsthroughthebuyingorsellingprocess.The
“TrustedAdviserModel” (aswellas the agent-centric “me-me-me”model) is still common in realestate. If you’re still marketingusingthe“we’reNo.1approach”or plastering your face all overpostcards, bus benches and bill-boards,yourmoneyandtimearebetterspentmakingyourmaterialsmoreclient-centric.
Different generations require different
approaches
Today,agentsmustmodifytheirmarketing and negotiation strat-egies to adapt to four differentgenerations.
For those born before 1965(boomersandtheirilk),thetrusted
Real estate agents: Plug into Gen X, Gen Y buyer preferences
adviser model is still importantsince they value expertise. Theyexpect their REALTOR® to knowmore than theydo.This includeshaving a strong knowledge ofthe inventory, strong negotiationskills and a mastery of the besttechnology.
Incontrast,thoseinGenXandGen Y (born after 1964), don’tvalueexpertise in thesameway.Amajorsourceoffrictionbetweenolderagentsandyoungerclientshas todowithhowolderagentsapproachthisimportantissue.
Theolderagentsunderstandthevalueoftheirknowledgeandhowitcanhelpyoungerclientsachieve
See PLUG INTO GEN X on page 10
different approaches
dif
fer
en
t
ap
pr
oa
ch
es
goals
consulting
generations
generations
expertise
knowledge
su
cc
es
s
knowledge
val
ue
best
proc
ess
tru
sted
win-win
client
gen x
gen
yteamwork resource
ad
vis
er
advise
propertiesclose
gu
ideexpertise
10 REALTOR® Review Spring 2011
theirrealestategoals.So, itcanbeparticularlyfrustratingforthemwhen younger clients seem toignorewhattheyhavetosay.
The model for 2011:
The Trusted
Resource Model
Thenewmodelfor2011iswhatIcall“TheTrustedResourceModel.”
Most agents would agree thedeals that go the most smoothlyarethoseinwhicheveryoneworkstogether. This team approachcreatesawin-winenvironmentforvirtually everyone involved. Thismodel is neither agent-centricnorclient-centric.
InthemoretraditionalTrusted Adviser Model,the agent often tells theclient what to do. Thechallenge is that mostpeople want to be inchargeof theirownde-cisionmaking.
The Trusted ResourceModel establishes the agent asa conduit of information. Theagent’sroleistoprovidethebestinformationpossible,sothebuyerorsellercanmake thebestdeci-sionpossible.
To illustrate, it’s commonforagentstorecommendlistprices on a listing appoint-ment. The strongest agentswill also outline a 90-daymarketingplanthattheywilluse tosell theproperty.ThisapproachfallsintotheTrustedAdvisermodel.
In the Trusted ResourceModel, the agent outlines a90-day marketing plan andthenasks theseller for inputabout which services the
sellerwouldliketouseinmarket-ing the property. The agent alsoprovides the comparable salesinformation.Thekeypointofdif-ferentiationhere,however,ishowthisishandled.
In the Trusted ResourceModel,instead of telling the seller, “Youshould list your property at$244,500,”theagentwouldsaythe following: “As you can seefromcomparablesales,theprop-ertiesinthisareaaresellingfrom$120 to $150 per square foot.Theproperties thathavesold for$140 to $150 per square footwereallbuiltinthelastfiveyears.
“Propertieswithamenitiessimilarto yours that were built in the1960s are well maintained andhavenotbeenupdated.Theyhavebeen selling for $120 to $135persquarefoot.Baseduponthese
The Trusted Resource Model
puts the agent in the position
to provide access to the
information and knowledge
needed to close the deal.
The client determines what and
how to use that information.
numbers, where would you liketo position your house in themarketplace?”
Thepowerofthistrustedresourceapproachisthatitworkswithallgenerations. While the boomersmay appreciate the fact that anagenthassearchedoutandcom-piled the information they need,Gen Xers may appreciate beingdirected to where they can findthe information. Those fromGenYmayprefer todo theirownre-search,buttheytendtocheckwiththeirfriendsratherthansearchingexclusivelyontheirown.
The Trusted Resource Modelputs the agent in the position toprovideaccesstotheinformationandknowledgeneededtoclosethedeal. The client determines whatandhowtousethatinformation.
Infact,themostimportantthingfor real estate agents to keep inmindinalmostanyaspectof therealestatetransactionis:“It’snotyourhouse,it’snotyourmortgageandit’snotyourdecision.”
Thescriptthatillustratesthisandisagreatwaytoendalmostanyclose is this: “It’s yourhouse. It’s
your decision. Whatwouldyouliketodo?”
If you’re looking fora way to work with allgenerations that reallyworks, make yourselfinto your clients’ mosttrustedresource.Bernice Ross, chief executiveofficerofRealEstateCoach.com,is a national speaker, trainer
and author of the National Associationof REALTORS®, No.1 best seller, Real Es-tate Dough: Your Recipe for Real Estate Success. Hear Ross’ five-minute daily realestateshow,justnamed“newandnotable”byiTunes,atwww.RealEstateCoachRadio.com.YoucancontactheratBernice@RealEstate-Coach.comor@BRossonTwitter.
PLUGINTOGENXcontinued from page 9
different approaches
dif
fer
en
t
ap
pr
oa
ch
es
goals
consulting
generations
generations
expertise
knowledges
uc
ce
ss
knowledge
val
ue
best
proc
ess
tru
sted
win-win
client
gen x
gen
yteamwork resource
ad
vis
er
advise
propertiesclose
gu
ideexpertise
Spring 2011 REALTOR® Review 11
2010 IN REVIEW
Seizing Windows of OpportunityDespitethemarketchallengesin2010,theRaleighRegionalAssociationofREALTORS®continuedtoprovidevaluableresourcesandvaluetomembers.
Government AffairsThe RRAR Government Affairs
Department and Committee fo-cused on continuing educationabout changing laws and regu-lations, lobbying and advocacy,and REALTOR® Political ActionCommittee(RPAC)fundraising.
TheGovernmentAffairsCommit-tee,headedbyChristinaDrespofe-Realty,hostedeighteducationalmeetings on such topics as mar-keting green homes; Real EstateSettlementProceduresAct(RESPA)changes and closing attorneyguidance;HomeAffordableFore- See 2010 IN REVIEW on page 12
RPAC-supported
candidates were
successful in 11
of the 12 political
races in 2010 –
a 92 percent
average.
12 REALTOR® Review Spring 2011
20
10 I
N R
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closure Alternatives (HAFA) andHome Affordable ModificationProgram(HAMP)federalhousingassistanceprograms;andlegisla-tiveupdatesfromNorthCarolinaAssociationofREALTORS®.
The committee also participat-ed in some joint forumswith theTriangleCommunityCoalition,in-cludingoneoncommerciallendingpracticesandforecast.
GovernmentAffairsDepartmentstaff took REALTOR® grassrootslobbyiststotheGeneralAssemblyinJuneandtoWashington,D.C.,aspartof theyearly“handson”lobbying for members. “Fewthingsareasrewardingaswhenmembers are put together withtheir elected officials in an envi-ronment where they can be trueadvocatesfortheirindustry,”saidTara Robbins, RRARGovernmentAffairsdirector.
TheGovernmentAffairsCommit-teecontinueditsmissionofindustryadvocacythroughcandidateinter-
viewsandassessments.Theinter-viewprocessisatwo-wayoppor-tunitytolistentocandidatesabouttheirpositionandphilosophy,andsharetheREALTOR®positionsandphilosophy.REALTOR®andRPAC-supportedcandidatesweresuccess-fulin11ofthe12politicalracesin2010,a92percentaverage.
RPACfundraisingwaschalleng-ing again in 2010, asmembersfacedalessrobustmarketandtheendoftheFirst-TimeHomeBuyerTax Credit. Even in the toughmarket, RRAR raisedmore RPACmoney than any other localassociation in North Carolina.ThankyoutoallourmemberswhosupportedRPAC!
TheGovernmentAffairsDepart-ment also helped to support theTriangle REALTORS® LeadershipAcademybypresentingahalf-daygovernmentandpoliticsprograminwhichelectedofficialsandcityand county managers sharedleadershipstories.
Membership ServicesRRAR President Theresa Clark
andthe2010BoardofDirectorswereinductedandhonoredattheInauguralBallJan.15,andCarolynKasdorfwasawardedREALTOR®ofTheYear.
2009 President John WoodshostedtheDirectorsAppreciationDinneronApril27atGiorgio’s.
A series of RRAR membershipmeetingsincludedanFHA203(k)Orientation Session, Down Pay-ment Assistance Seminar, AMarketing Seminar with RossiSpeaks, Short Sales SeminarandHotTopicswithMiriamBaeroftheNorthCarolinaRealEstateCommission.
AcoupleofBOSS(BrokerOwnerSupportSystem)meetingsfeaturedSpiceUpYourMarketingwithRossiSpeaksandShortSalesAnswers.
The annual Raleigh RegionalAssociationofREALTORS®Charity
Spring 2011 REALTOR® Review 13
See 2010 IN REVIEW on page 14
Golf Tournament was at LonniePooleGolfCourse,NorthCarolinaStateUniversityCampusonJune7.
TheTopProducersCouncilwas31membersstrong.Withavarietyofsponsorsfortheyear,itofferedsix lunch meetings. The councilpresentedspeakerTamaraBunte,a master coach and owner ofTheInstituteforAdvancedResultsL.L.C.,formembershiponMarch24.Councilmembersgavebackto the community with donationsto10differentcharities.
YPN(YoungProfessionalNetwork)started the year off with ZanMonroe, an inspirational authorand speaker. That was followedbythreeotherlunchmeetingsandasummersocial.
RayLarcher,CEOandpresidentof RRAR, facilitated a one-day,all-daystrategicplanningsessionOct. 5 with 17 REALTORS® andfivestaffmembers.
RRAR Real Estate Trends hada full house Oct. 21. FeaturedspeakerswereStaceyAnfindsen,who provided local real estatestats;KennethAtkins,WakeCountyEconomicDevelopmentexecutivedirector;andDr.MichaelWalden,aNorthCarolinaStateUniversityeconomist.
RRAR hosted its annual Christ-masPartyonDec.7.
DuringtheRRARChristmasPartyandAwardsCeremony,membersrecognized the 2010 officers,directors,committeeschairs,andHall of Fame recipients DianaLambeth, Lanse Houston andMaryEdnaWilliams.Forthefirsttime,RRARpresentedtheEmeritus
Award,honoringREALTORS®whohavebeen in the industry for40years.2010recipientswere:ZackBacon,RobertDodd,J.C.Glenn,Carol Fortune, Beverly Ford, G.Smedes York, Hal Worth, JohnMoriseyandPatJuby.
The Professional StandardsCommittee’s annual training fordirectorsandcommitteememberswas instructed by Vicki Ferney-hough on Feb. 4. Three casesbroughtbeforethecommitteeledtoonearbitrationandtwoethicsproceedings.
TheRRARCompanyStore con-tinued to serve members in anoutstandingway.
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Estate agent Terry Benson hadtakena12-16monthpositionwiththeUSOandralliedRRAR’shelp.
FiveannualCommunity Service Committee Scholarshipstotaling$6,000weredistributed to localhighschoolseniorswithoutstandingcommunityserviceandacademicrecords.Recipientswere:NicholasSavage,$2,000,attendingNorthCarolina State University; SarahKline, $1,000, attending DukeUniversity;AshleyStacy,$1,000,attending East Carolina Univer-sity;KathrynHornaday,$1,000,attending North Carolina StateUniversity; and Dana Andersen,$1,000,attendingUNC-ChapelHill.
In addition to a donation of$500, volunteers worked at
The Shepherd’s Table Soup Kitchentohelpfeedthehungry.
A$150donationwasgiventoThe Passage Home,anorganiza-tionthatassistswomenrecoveringfrom abuse, drugs, jail, etc., byteachingthemskillsthatwillhelpthemprovidefortheirfamilies.Thedonation was used to purchaseknittingneedlesandsupplies.
Atotalof$1,000wasdonatedtoThe Miracle League of the Triangletohelpenablechildrenwith disabilities to enjoy the funand team spirit of playing base-ballonaspeciallydesignedfieldat Adams Elementary school inCary.Volunteersactedasbuddies,cheerleadersand coaches to thechildren.Everyoneisawinneratthesegames!
Sevenvolunteerssetaside timetoreadtostudentsatHope Ele-mentary.Inaddition,thecommit-tee supported Operation SchoolBell, which provided backpacks
Community Service Committee
Workingwithabroadspectrumof organizations, the Commu-nity Service Committee strives togivebacktothecommunityeveryyearthroughvolunteereffortsanddonations.Despitethechallengesof 2010, this year was noexception.Committeemembersandother board members providedmuch-needed resources andservices to an expanded list oflocalcharities.
Members joined in for twoSupport Our Troops dona-tiondrives,which sentabout20to 25 boxes of collected itemseach time to the largest USOdistributioncenterinBaghdad.Real
Spring 2011 REALTOR® Review 15
See 2010 IN REVIEW on page 18
filledwithnewclothingandshoesformorethan800disadvantagedelementaryschoolchildrenthrough-out the Triangle. In addition toa $1,000 donation, commit-tee volunteers sorted clothing fortheprogram.
A$1,000donationwasmadetothePaul McCarthy Scholar-ship,acommunityservice-basedscholarship at North CarolinaStateUniversity.
About900angelswereadoptedin 2010 Project Angel Tree,fulfilling Christmas wishes formore than 200 children. Thanksto all who participated for yourkindness and generosity. Andthanksalsotoeveryonewhosup-ported our first Dine Out Night,whichhelpedtoprovidethenec-essaryfundstocoveranyangelswhohadnotbeenadopted.
A$250donationwasmadetohelpaCentralizedShowingServiceassistant manager who lost hisparents,houseandpossessionsin
afire.Therentedhomehadbeenuninsured.Additionalfundswereused topurchaseclothing forhisfamily and help pay for tempo-rary housing while his daughterunderwentburncentertreatment.
Triangle REALTORS® Leadership Academy
RRAR offered its third annual2010 Triangle REALTORS® Lead-ership Academy, with MortyJaysonasdean.
According to Diana Braun a2010graduate:
“TRLA was an amazing experience.
“When I first considered applying to the academy, I reviewed the course schedules for the eight learning modules, covering leadership concepts, communication skills, planning and administration,
team building, media training and public relations, financial programs, government affairs, etc., and felt the value was well worth the money and time. Any time you invest in your personal and professional growth, you take away new skill sets that last a lifetime.
“One of my favorite experiences came from visiting the legislators in downtown Raleigh and advocating for our profession on a pending bill.
“Meeting the academy members in our class and getting to know them was a blessing! We have become friends for life!
“This opportunity has enriched my life, and I would encourage others to apply to the academy
16 REALTOR® Review Spring 2011
RRAR Member Judy McCreeryand her family have been busythis spring supporting their sonScottyMcCreeryinhissuccessfulstintonAmericanIdol.
WhennotinLosAngelesrootingfor Scotty, the family resides inGarner.Atprint,Scottywasinthefinalfiveandholdingstrong.The17yearoldhasadeepaltovoiceandsingscountrylikeastar.
RRAR members have ralliedto support Scotty and wish himwell.Membersagreethathehasagreat chanceof becoming the
nextAmericanIdol.In any case, we know he has
a promising future in the musicindustry.
REALTOR and American Idol Mom®
Spring 2011 REALTOR® Review 17
The annual Triangle Commer-cial Association of REALTORS®awardsceremonyattheCarolinaCountryClubinRaleighinMarchincluded the presentation of the2011 Commercial REALTOR® ofthe Year Award, in addition toother special Frontier Awards,andtheinductionofmembersintoTCAR Million Dollar Clubs andtheLifetimeMillionDollarClub.
Smedes YorkofYorkPropertieswasnamedthe2011CommercialREALTOR® of the Year, the mostprestigious of the Triangle Com-mercialAssociationofREALTORS®(TCAR) Frontier Awards. In hisacceptance speech, York askedthathiscolleaguesgetinvolvedintheircommunityandvolunteerforanorganization that is importanttothem.
This year’s awards ceremo-ny guest speaker was John Forslund, National HockeyLeague broadcasting and Versusannouncer.Forslund,whoisinhis16th season as the Hurricanes’television play-by-play announc-er, 20th year with the club and27thyearinprofessionalhockey,spokeaboutthisyear’sHurricanehockeyseason.
EveryyearFrontierAwardsnomi-nationsaresubmitted,andapanelofpastpresidentsandREALTORS®oftheYearselectrecipientsbasedon qualifications that have beendeterminedbythegroup.
Smedes York (left) of York Properties ac-cepts the 2011 Commercial REALTOR® of the Year Award, presented by Frank Quinn of Colliers International, the 2010 winner.
TCARPresentsFrontier Awards
Congratulations, Commercial REALTOR®
of the Year!Smedes YorkofYorkProper-
ties,2011CommercialREALTOR®of the Year, has spent much ofhis career in real estate andconstruction, and has served thecommunityinmanyways.
In the late 1970s and early1980s, he was a Raleigh CityCouncilmember,representingDis-trictE.From1979through1983,he served two terms as mayorofthecityofRaleigh.
York has been a member ofnumerous boards and the recipi-entofmanyaccolades,includinginductionintotheRaleighRegionalAssociation of REALTORS® HallofFame.
Other Special RecognitionFrontierAwardsincluded:
Pete CheneryofRealtyWorld–President’sCircleAwardEtherlene PierceofHilltopHome–CommunityLeaderAwardElizabeth RaifordofTacquire–WilliamP.EyermanAwardE. Michael KornegayofCommercialAssociates–BusyBrokerAwardRaleigh-Durham International Airport(RDU)forthenewterminal–DevelopmentoftheYearAwardTrail Blazer Awards recog-
nized up-and-coming firms,and the Sales TransactionAwardandLeaseTransactionoftheYearAwardrecognizedsalesaccomplishments.
InducteesfortheMillionDol-lar Clubs represent the fivespecialties in the commercialindustry: sales, land sales,office leasing, retail leasingand industrial leasing. Thisyear, TCAR inducted into theLifetime Million Dollar Clubbrokers who earned MillionDollar Club Awards for thelastfiveyears.
TCAR President Shane Bullof Grubb and Ellis|ThomasLinderman Graham presidedovertheawardsceremony.
Smedes York Wins Top Commercial REALTOR® Award
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in the future. Sharing my expe-rience with several colleagues led two of them to apply for the class of 2011. They both were accepted into the program, and they, too, see the value in Triangle REALTOR® Leadership Academy!
“Thank you to the Raleigh Regional Association of REALTORS® for bringing together great educators for the TRLA. If I had to give you one word for this overall experience it would be:
Awesome!”
Congratulations to the class of2010: Colleen Blondell, DianaBraun,SamBrooks,DavidChance,MargaretCohen,JohnHartofelis,Jean Hedges, Mike Montpetit,ChristyNew,AllanNielsen,DawnNuzzi, Mollie Owen, MargaretSophie, Christina Valkanoff andNormaYoung.
Housing Opportunity Committee
TheHousingOpportunityCom-mitteehosteditsannual“HousingHero”seminarinearlyfall.Morethan 100 members attended to
hearBarbaraHessandKatDriscolfrom the NC Housing FinanceAgency speak on the $8,000down-paymentassistanceprogramand tax credits available to first-time home buyers. Mel Ellis,directorofSingleFamilyHousingPrograms for the United StatesDepartment of Agriculture RuralDevelopment in North Carolina,provided information on USDAmortgage programs and fund-ing for these programs in FiscalYear2011.
The committee hosted a phonebank telethon at the NBC 17newsstation.Theon-airpaneloflocal REALTORS®, attorneys andlenders answeredquestions frompotential buyers and sellers con-cerning credit, loan modificationandrefinancing,amongothers.
The Workforce Housing certifi-cateprogramwasanotherprojectoftheHousingOpportunityCom-mittee. Created by Homes4NC,the North Carolina WorkforceHousing Specialist (WHS) certi-fication program is designed toprovide REALTORS® with expertknowledge on the federal, stateandlocalhousingprograms,andresourcesavailabletoservework-forcehousingbuyersearninglessthan the areamedian income. Italsohelpsspecialistsconnectwith
like-minded professionals andorganizations that are increas-ing housing opportunities withinthecommunity.
TheHousingOpportunityCom-mitteemadea$5,000donationtoBuildersofHope,whosemissionis to increase the availability ofhigh-quality,safe,affordablework-force housing options. Throughinnovativereuseandrehabilitation,Builders of Hope incorporateseconomicbenefits,environmentalstewardshipandsocialsolutions.As social entrepreneurs, BuildersofHopesustainablyrevitalizesat-riskcommunities.
Continuing EducationDuring2010,RRARoffered50
continuingeducationclasses,whichdrewmorethan3,400attendees.
TheassociationalsoofferedtheShort Sale & Foreclosure certifi-cation twice in early 2010 withgreatsuccess!
Since1995,morethan69,800have taken RRAR’s continuingeducationprograms.
One Eleven PlaceIn 2010, RRAR continued to
showcaseitsfacilitythroughOneElevenPlace,whichmanagesRRARfacilityrental.Morethan15,000
continued from page 15
Spring 2011 REALTOR® Review 19
people attended216 social andcorporate events at RRAR. Func-tions included networking eventsthat increased visibility, such asbusinessexposandbridalshows.
RRAR’s ballrooms, boardroomand garden patio are availablefor a full range of business andsocial functions,andOneElevenPlaceoffersallofthekeyelementsfor a successful and memorableoccasion. Services range fromunique catering to an expansivelistofaudio-videoequipment.
Triangle MLS, Inc.The Triangle Multiple Listing
Service launched a redesignedwebsiteatwww.TriangleMLS.com.It features the new TMLS brandand includes new tools and im-provements designed specificallywiththeTMLSuserinmind.
Newfeaturesincludeimprovednavigation,videosonlocalmarketconditions, live chat with HelpDesk associates, the ability tosubscribe to RSS (Really SimpleSyndication) feeds and more.These features are enhanced bythe single sign-on functionality,whichallowsuserstosign-ononcetoconductalloftheirbusiness.
Green fields were added tothe MLS system to help brokers
accurately describe the greenattributes of a property. Thesefields are searchable in theMLSsystem,sosubscriberscaneasilyfind homes with green featuresand/or certifications. It makesfindingahomeeasier forbuyersinterestedinpropertieswithgreenfeatures and allows appraisersto consider green features whendeterminingthevalueofahome.
Residentialsolddatawasaddedto the Internet Data Exchangeprogram. The ability to displayalimitedamountofsolddataonIDX websites increases the site’svaluetoconsumersandgivesIDXwebsitesacompetitiveadvantageovermostnationalsites.
New features were added topublic record (Realist) searcheswithintheMLSsystem.Theremain-ing88countiesofNorthCarolinawereadded,pre-foreclosureandbank-owned properties are nowflagged for easy identification inallcounties,and15fieldsofdatawere integrated from the MLSsystemintoRealist.
TheDocumentManagerandFaxManager tools were integratedwiththeMLSsystemtogivesubscrib-ers the ability to streamline theirdocumentmanagementprocesses.
TMLShostedMLSRefreshandtheTechnologyFairandTradeShow.
TheMLSRefresheventprovidedsubscribers an opportunity to re-fresh their skills, learnsomenewtips, and check out some of theproductsandservicesavailabletoTMLSsubscribers thatcanbeuti-lizedintheirrealestatebusiness.
AttheTechnologyFairandTradeShow,participantsheardnationalspeakerDickBetts talkabout thepower of social networking. Par-ticipantsalsohadtheopportunitytotalkwithmorethan25vendorsat the fair about technology thatcanhelpthemwiththeirbusiness.
Turn to the next
page for an over-
view of 2010 TMLS
statistics.
20 REALTOR® Review Spring 2011
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This Year Last Year PercentChange
5-Year Average
This YearYear-to-
Date
Last YearYear-to-
Date
Percent Change
5-Year Year-to-
Date Average
Oct 3,184 3,743 - 14.9% 3,933 41,110 39,763 + 3.4% 45,135Nov 2,707 2,692 + 0.6% 3,095 43,817 42,455 + 3.2% 48,230Dec 2,118 2,477 - 14.5% 2,526 45,935 44,932 + 2.2% 50,756
Pending Sales Oct 1,410 2,101 - 32.9% 1,990 18,063 19,972 - 9.6% 24,138Nov 1,409 1,342 + 5.0% 1,665 19,472 21,314 - 8.6% 25,803Dec 1,185 1,237 - 4.2% 1,462 20,657 22,551 - 8.4% 27,265
Closed Sales Oct 1,333 2,107 - 36.7% 2,127 17,840 18,363 - 2.8% 23,847Nov 1,306 2,128 - 38.6% 1,886 19,146 20,491 - 6.6% 25,733Dec 1,497 1,635 - 8.4% 1,864 20,643 22,126 - 6.7% 27,597
Days on Market Until Sale Oct 111 95 + 16.9% 89 104 101 + 2.4% 90Nov 111 96 + 16.4% 93 104 101 + 3.5% 90D 112 103 + 8 7% 95 105 101 + 3 9% 90
December 2010New Listings
Dec 112 103 + 8.7% 95 105 101 + 3.9% 90Median Sales Price Oct $192,400 $180,000 + 6.9% $187,491 $189,300 $182,500 + 3.7% $186,640
Nov $195,200 $180,000 + 8.4% $185,694 $189,900 $182,000 + 4.3% $186,460Dec $185,550 $177,900 + 4.3% $186,960 $189,500 $182,000 + 4.1% $186,300
Average Sales Price Oct $228,724 $219,707 + 4.1% $231,001 $228,008 $223,561 + 2.0% $231,363Nov $239,375 $215,886 + 10.9% $229,739 $228,783 $222,764 + 2.7% $231,238Dec $227,527 $220,387 + 3.2% $231,262 $228,692 $222,588 + 2.7% $231,248
Total Active Listings Available Oct 19,472 17,490 + 11.3%Nov 18,598 17,198 + 8.1% -- -- -- -- --Dec 17,586 16,694 + 5.3%
Percent of List Price Oct 96.1% 96.9% - 0.8% 97.2% 96.4% 96.5% - 0.2% 96.4%Nov 96.3% 97.1% - 0.9% 97.0% 96.4% 96.6% - 0.2% 96.4%Dec 97.2% 96.4% + 0.8% 97.0% 96.4% 96.6% - 0.1% 96.4%
Housing Affordability Index Oct 177 176 + 0.7% 157 173 171 + 1.3%Nov 176 179 - 1.4% 161 174 172 + 1.0% --Dec 181 176 + 2.9% 160 174 172 + 1.1%
Months Supply of Inventory Oct 11.0 9.6 + 14.0%Nov 10.8 9.2 + 17.4% -- -- -- -- --Dec 10.2 8.9 + 14.5%
All data from Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.
Market Overview A Monthly Indicator from the Triangle Multiple Listing Service, Inc.
This Year Last Year PercentChange
5-Year Average
This YearYear-to-
Date
Last YearYear-to-
Date
Percent Change
5-Year Year-to-
Date Average
Oct 3,184 3,743 - 14.9% 3,933 41,110 39,763 + 3.4% 45,135Nov 2,707 2,692 + 0.6% 3,095 43,817 42,455 + 3.2% 48,230Dec 2,118 2,477 - 14.5% 2,526 45,935 44,932 + 2.2% 50,756
Pending Sales Oct 1,410 2,101 - 32.9% 1,990 18,063 19,972 - 9.6% 24,138Nov 1,409 1,342 + 5.0% 1,665 19,472 21,314 - 8.6% 25,803Dec 1,185 1,237 - 4.2% 1,462 20,657 22,551 - 8.4% 27,265
Closed Sales Oct 1,333 2,107 - 36.7% 2,127 17,840 18,363 - 2.8% 23,847Nov 1,306 2,128 - 38.6% 1,886 19,146 20,491 - 6.6% 25,733Dec 1,497 1,635 - 8.4% 1,864 20,643 22,126 - 6.7% 27,597
Days on Market Until Sale Oct 111 95 + 16.9% 89 104 101 + 2.4% 90Nov 111 96 + 16.4% 93 104 101 + 3.5% 90D 112 103 + 8 7% 95 105 101 + 3 9% 90
December 2010New Listings
Dec 112 103 + 8.7% 95 105 101 + 3.9% 90Median Sales Price Oct $192,400 $180,000 + 6.9% $187,491 $189,300 $182,500 + 3.7% $186,640
Nov $195,200 $180,000 + 8.4% $185,694 $189,900 $182,000 + 4.3% $186,460Dec $185,550 $177,900 + 4.3% $186,960 $189,500 $182,000 + 4.1% $186,300
Average Sales Price Oct $228,724 $219,707 + 4.1% $231,001 $228,008 $223,561 + 2.0% $231,363Nov $239,375 $215,886 + 10.9% $229,739 $228,783 $222,764 + 2.7% $231,238Dec $227,527 $220,387 + 3.2% $231,262 $228,692 $222,588 + 2.7% $231,248
Total Active Listings Available Oct 19,472 17,490 + 11.3%Nov 18,598 17,198 + 8.1% -- -- -- -- --Dec 17,586 16,694 + 5.3%
Percent of List Price Oct 96.1% 96.9% - 0.8% 97.2% 96.4% 96.5% - 0.2% 96.4%Nov 96.3% 97.1% - 0.9% 97.0% 96.4% 96.6% - 0.2% 96.4%Dec 97.2% 96.4% + 0.8% 97.0% 96.4% 96.6% - 0.1% 96.4%
Housing Affordability Index Oct 177 176 + 0.7% 157 173 171 + 1.3%Nov 176 179 - 1.4% 161 174 172 + 1.0% --Dec 181 176 + 2.9% 160 174 172 + 1.1%
Months Supply of Inventory Oct 11.0 9.6 + 14.0%Nov 10.8 9.2 + 17.4% -- -- -- -- --Dec 10.2 8.9 + 14.5%
All data from Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.
Annual Review Provided by the Triangle Multiple Listing Service, Inc.
34,41136,072
34,215
98.4% 98.3% 98.0%
April$173,000
$180,000$190,000
98.4% 98.3% 98.0%
January through April
36,07234,215
24,92422,126
20,643
2006 2007 2008 2009 2010
Closed Sales
76 78
91
101105
2006 2007 2008 2009 2010
Days on Market Until Sale
- 5.1% - 27.2% - 11.2% + 3.7% + 15.8% + 10.9%- 6.7% + 3.9%
34,41136,072
34,215
98.4% 98.3% 98.0%
April$173,000
$180,000$190,000
98.4% 98.3% 98.0%
January through April
36,07234,215
24,92422,126
20,643
2006 2007 2008 2009 2010
Closed Sales
76 78
91
101105
2006 2007 2008 2009 2010
Days on Market Until Sale
$180,000$190,000 $190,000
$182,000$189,500
2006 2007 2008 2009 2010
Median Sales Price98.3% 98.0% 97.2% 96.6% 96.4%
2006 2007 2008 2009 2010
Percent of List Price Received at Sale
- 5.1% - 27.2% - 11.2% + 3.7% + 15.8% + 10.9%
+ 5.6% - 0.0% - 4.2%- 0.3% - 0.8% - 0.7%
- 6.7% + 3.9%
+ 4.1%- 0.1%
All data from Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.
Annual Review Provided by the Triangle Multiple Listing Service, Inc.
34,41136,072
34,215
98.4% 98.3% 98.0%
April$173,000
$180,000$190,000
98.4% 98.3% 98.0%
January through April
36,07234,215
24,92422,126
20,643
2006 2007 2008 2009 2010
Closed Sales
76 78
91
101105
2006 2007 2008 2009 2010
Days on Market Until Sale
- 5.1% - 27.2% - 11.2% + 3.7% + 15.8% + 10.9%- 6.7% + 3.9%
34,41136,072
34,215
98.4% 98.3% 98.0%
April$173,000
$180,000$190,000
98.4% 98.3% 98.0%
January through April
36,07234,215
24,92422,126
20,643
2006 2007 2008 2009 2010
Closed Sales
76 78
91
101105
2006 2007 2008 2009 2010
Days on Market Until Sale
$180,000$190,000 $190,000
$182,000$189,500
2006 2007 2008 2009 2010
Median Sales Price98.3% 98.0% 97.2% 96.6% 96.4%
2006 2007 2008 2009 2010
Percent of List Price Received at Sale
- 5.1% - 27.2% - 11.2% + 3.7% + 15.8% + 10.9%
+ 5.6% - 0.0% - 4.2%- 0.3% - 0.8% - 0.7%
- 6.7% + 3.9%
+ 4.1%- 0.1%
All data from Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.
Spring 2011 REALTOR® Review 21For further information regarding TMLS Market Trends and Analysis please visit: www.trianglemls.com
A RESEARCH TOOL PROVIDED BY TRIANGLE MLS
2010 2011 + / – 2010 2011 + / –
New Listings 5,629 4,764 - 15.4% 14,046 11,552 - 17.8%
Closed Sales 1,847 1,596 - 13.6% 4,135 3,833 - 7.3%
Median Sales Price* $183,000 $181,050 - 1.1% $179,500 $180,000 + 0.3%
Average Sales Price* $221,455 $211,738 - 4.4% $217,646 $217,302 - 0.2%
Total Dollar Volume (in millions)* $408.4 $337.6 - 17.3% $898.9 $831.8 - 7.5%
Percent of Original List Price Received* 92.6% 91.5% - 1.1% 92.0% 91.4% - 0.7%
Percent of List Price Received* 96.5% 95.9% - 0.6% 96.2% 95.9% - 0.3%
Days on Market Until Sale 104 131 + 26.1% 105 127 + 20.6%
Inventory of Homes for Sale 19,207 17,733 - 7.7% -- -- --
Months Supply of Inventory 10.1 10.7 + 6.5% -- -- --
- 15.4% - 13.6% - 1.1%Change in
New ListingsChange in
Closed SalesChange in
Median Sales PriceEntire Triangle Region
Local Market Update – March 2011
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
March Year to Date
14,046
Year to Date 2010 2011
5,6294 764
March 2010 2011
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | All data provided by Triangle Multiple Listing Service, Inc. | Powered by 10K Research and Marketing.
Entire Triangle Region
All MLS
- 8%
- 6%
- 4%
- 2%
0%
+ 2%
+ 4%
+ 6%
+ 8%
+ 10%
1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011
Change in Median Sales Price from Prior Year (6-Month Average)** b
a
14,046
4,135
11,552
3,833
New Listings Closed Sales
Year to Date 2010 2011
- 7.3%- 17.8%
5,629
1,847
4,764
1,596
New Listings Closed Sales
March 2010 2011
- 13.6%- 15.4%
share of sales during that period. | All data provided by Triangle Multiple Listing Service, Inc. | Powered by 10K Research and Marketing.
- 8%
- 6%
- 4%
- 2%
0%
+ 2%
+ 4%
+ 6%
+ 8%
+ 10%
1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011
Change in Median Sales Price from Prior Year (6-Month Average)** b
a
14,046
4,135
11,552
3,833
New Listings Closed Sales
Year to Date 2010 2011
- 7.3%- 17.8%
5,629
1,847
4,764
1,596
New Listings Closed Sales
March 2010 2011
- 13.6%- 15.4%
22 REALTOR® Review Spring 2011
20
10 I
N R
EVIE
W
A RESEARCH TOOL PROVIDED BY TRIANGLE MLS
2010 2011 + / – 2010 2011 + / –
New Listings 2,891 2,410 - 16.6% 7,344 5,843 - 20.4%
Closed Sales 1,028 873 - 15.1% 2,249 2,010 - 10.6%
Median Sales Price* $204,375 $200,000 - 2.1% $200,989 $200,000 - 0.5%
Average Sales Price* $252,085 $237,548 - 5.8% $247,568 $239,568 - 3.2%
Total Dollar Volume (in millions)* $259.1 $207.4 - 20.0% $556.8 $481.5 - 13.5%
Percent of Original List Price Received* 92.9% 92.5% - 0.4% 92.8% 92.2% - 0.6%
Percent of List Price Received* 97.0% 96.5% - 0.5% 96.9% 96.5% - 0.4%
Days on Market Until Sale 102 125 + 22.7% 104 121 + 17.1%
Inventory of Homes for Sale 9,375 8,348 - 11.0% -- -- --
Months Supply of Inventory 9.0 9.6 + 6.2% -- -- --
- 16.6% - 15.1% - 2.1%Change in
New ListingsChange in
Closed SalesChange in
Median Sales PriceWake County
Local Market Update – March 2011
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
March Year to Date
7,344
Year to Date 2010 2011
2 891
March 2010 2011
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | All data provided by Triangle Multiple Listing Service, Inc. | Powered by 10K Research and Marketing.
Wake County
All MLS
- 10%
- 5%
0%
+ 5%
+ 10%
+ 15%
1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011
Change in Median Sales Price from Prior Year (6-Month Average)** b
a
7,344
2,249
5,843
2,010
New Listings Closed Sales
Year to Date 2010 2011
- 10.6%- 20.4%
2,891
1,028
2,410
873
New Listings Closed Sales
March 2010 2011
- 15.1%- 16.6%
share of sales during that period. | All data provided by Triangle Multiple Listing Service, Inc. | Powered by 10K Research and Marketing.
- 10%
- 5%
0%
+ 5%
+ 10%
+ 15%
1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011
Change in Median Sales Price from Prior Year (6-Month Average)** b
a
7,344
2,249
5,843
2,010
New Listings Closed Sales
Year to Date 2010 2011
- 10.6%- 20.4%
2,891
1,028
2,410
873
New Listings Closed Sales
March 2010 2011
- 15.1%- 16.6%
For further information regarding TMLS Market Trends and Analysis please visit: www.trianglemls.com
www.OrleansHomes.com
What’s Behind Door Number...
$2000 Broker Bonus on any contract written by May 30, 2011 & Additional $1000 Broker Bonus on any home closing by June 30, 2011!
#48
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HOMES NOW AVAILABLE:SOUTHAMPTONKnightsbridge Farmhouse208 Rockywalk Court4 Bedrooms & 2.5 Baths- Kitchen has maple cabinets, granite
counters & stainless steel gas appliances3,140 sq. ft. MLS# 1773941$319,000
WELDON RIDGE (ESTATES)Solebury Grand600 IvyShaw Rd.5 bedrooms & 4 full baths - Brick front & side entry garage
3714 sq. ft. MLS# 1768381$485,000
#331
Brookfield II104 Bridleboast Rd5 bedrooms & 4 full baths - .40 of an acre home-site- Large master suite w/ lots of closet space
3800 sq ft $474,900
WELDON RIDGE (GROVE)Monroe II Grand627 Sealine Drive3 bedrooms & 2.5 baths - End unit with screened porch - Granite counters, upgraded cabinets
& trim, double ovens, & gas cook top2335 sq. ft MLS#1773529$244,900
Monroe II Grand512 Sealine Drive3 bedrooms & 2.5 baths - End unit with tons of windows- Granite counters, upgraded cabinets
& stainless steel appliances2335 sq ft MLS# 1750883$242,798
Macon510 Sealine Drive3 bedrooms 2.5 baths - First floor master- Granite counters & upgraded cabinets- 2 car garage MLS# 1750876
$220,000
#73
REYNOLDS MILLWaterbury III Farmhouse A201 Forbes Road- 4 Bedrooms & 2.5 Baths- 42” maple cabinets in kitchen- Screened-in porch and large patio
2675 s.f. MLS# 1757668$259,990
#13TRINITY RIDGESolebury Grand Farmhouse210 Pathwood Lane- 5 Bedrooms, 4 Baths & 1st floor guest suite- 4’ breakfast nook extension- Playroom on 2nd floor
3642 s.f. MLS# 1740659$359,000
AVAILABLE IN APRIL:
AVAILABLE IN MAY:
AVAILABLE IN MAY:
#1TRINITY RIDGEKnightsbridge Federalist100 Pathwood Lane4 Bedrooms, 2.5 Baths- Tray ceiling in dining room- Playroom on 2nd floor
3278 sq ft MLS# 1763171$360,839
#52
SOUTHAMPTONWaterbury III Farmhouse216 Rockywalk Court4 Bedrooms & 2.5 Baths- Gourmet kitchen
2,374 sq ft MLS# 1765971$263,495 SOLD
SOLD
#58REYNOLDS MILLProvidence Farmhouse A- 4 Bedrooms & 2.5 Baths- 8 ft. breakfast area extension- 42” maple cabinets & granite countertops
2688 s.f. MLS# 1773088$264,990
LEGEND OAKSKnightsbridge4 Bedrooms, 3.5 Baths$429,900
#16
SOLD
#59
#56
#55
#500
REYNOLDS MILLPortsmouth IV Farmhouse w/stone 4 Bedrooms & 3 Baths, Ranch plan- 42” maple cabinets & Corian countertops- Large front porch
2281 s.f. $252,990
SOUTHAMPTONProvidence II Classical w/Stone1305 Fenwick Parkway4 Bedrooms & 2.5 Baths- 9’ ceilings on 1st & 2nd floors- Open oak stairs & rear stairs
2,566 sq ft $271,715 ($30,000 Design Center Incentive!)
Bennet Federalist1307 Fenwick Parkway4 Bedrooms & 3 Baths- Flex room/bedroom 5 on 1st floor- Playroom on 2nd floor
2676 sq ft $280,595 ($30,000 Design Center Incentive!)
WELDON RIDGE (ARBOR)Bennet Farmhouse5 Bedrooms, 3 Baths & playroom$295,607
#501
Waterbury III2003 Ollivander Drive4 Bedrooms & 2.5 Baths2530 sq ft MLS# 1772560$286,612
#595
Westminster Federalist5 Bedrooms & 3 Baths- Guest suite on first floor- 2’ breakfast nook extension
3000 sq ft $322,225
SOLD
LEGEND OAKS CHAPEL HILL
919-967-6363 / Single Family Homes from the $370’s
SOUTHAMPTONDURHAM
919-484-4070 / Single Family Homes from the $240’s
TRINITY RIDGE DURHAM
919-484-4070 / Single Family Homes from the $300’s
WELDON RIDGECARY / 919-303-1982
The Estates- Single Family Homes from the $400’s The Arbor- Single Family Homes from the $200’s
The Grove- Townhomes from the $190’s
SOLD
SOLD
SOLD
24 REALTOR® Review Spring 2011
StephanieR.Anson,FlatFeeRealtyL.L.C.MartinJ.Arlander,HowardPerry&WalstonRealty
EllenBeaver,AllenTateCo.Inc.EdwardK.BellJr.,1stSignalCorp.VaughnBerry-Daniel,AllenTateCo.Inc.LorettaBertolino,Re/MaxUnitedJenniferJ.Bishop,HowardPerry&WalstonRealty
TeresaL.Bowen,KellerWilliamsAliciaN.Cadet,ColdwellBankerAdvantageGaryS.Calvert,HowardPerry&WalstonRealty
JacquelineKellyCarrabba,HowardPerry&WalstonRealty
ElizabethA.ClorKnight,HowardPerry&WalstonRealty
PamelaA.Cola,FonvilleMoriseyDawnE.Coley,KellerWilliamsRealtySusanC.Conroy,HowardPerry&WalstonRealty
ColleenE.Cox,Cox&CompanyPropertyManagementInc.
JaredL.Cozart,KellerWilliamsKristaM.Cutler,ExitRealtyFirstChoiceShannonM.Davis,KellerWilliamsAlexanderH.Denson,HowardPerry&WalstonRealty
PatriciaY.Dillard,CarolinaRealtyMaxInc.RenaeEnglish,KellerWilliamsRobertD.EnglishJr.,KellerWilliamsCynthiaL.Faltisco,PrudentialYorkSimpsonUnderwood
JulieFarrell,Tate&HarrellInc.CarlosG.Febres,AllenTateCo.Inc.GaryFisher,NorthsideRealtyInc.StacyS.Fisher,SerenityHomes-By-HolmesR.E.EsmeraldaFletcher,SunshineRealtyL.L.C.LatonyaFoster,FonvilleMoriseyHeatherE.Franczak,RealtyWorldMolloy&Associates
AliciaFrazier,CityGateRealEstateServicesStevenM.Friedman,AllenTateCo.Inc.WendyJ.Gallovitch,ParamountRealtyMollyA.Galloway,BeazerHomesCeciliaF.Gelnar,CarolinaRealtyMaxInc.NicholasM.Giuggio,FathomRealtyGarryJ.Glover,PrudentialYorkSimpsonUnderwood
ErvinaGolden,PrudentialYorkSimpsonUnderwood
CharisseGreen,FonvilleMoriseyDanielJ.Gregory,CenterpointRealtyL.L.C.
DianaM.Gregory,SanMarcoInc.MirandaS.Gregory,HowardPerry&WalstonRealty
NeetaD.Gropper,HowardPerry&WalstonRealty
NicoleA.Hackworth,RochelleMoonRealtyDinaL.Hamad,NorthsideRealtyInc.JohnA.Hamilton,EquitySaverPlusRealtyThomasA.Harman,RyanRealtyKimHarrison,Re/MaxOneRealtyLawrenceW.Harrison,ParlerPropertiesL.L.C.JacquelynB.Harvey,HowardPerry&WalstonRealty
BrianE.Hutchinson,TheNewHomeGroupRobbie-LaneS.Jackson,RealLivingPittmanProperties
LaurelM.Jawny,GarmanRealtyLisaM.Jeffries,CityGateRealEstateServicesKimberlyC.Johnson,TriumphRealtyInc.MichaelW.JohnsonIII,RichRealtyGroupBruceA.Jones,AllenTateCo.Inc.ThomasC.Jordan,CarolinaAuction&RealtyPatriciaD.Kiley,WeichertRealtors-TriangleAaronJ.KingJr.,ERAPacesettersRealtyJhansiKolla,RealTrianglePropertiesMichaelJ.Kroll,KellerWilliamsJeanM.Kunkel,PineGroveAppraisalAllenLee,LegacyRealEstatePropertiesWilliamT.Lemon,EquitySaverPlusRealtyRobertL.Liles,HomeTowneRealtyGroupRobertLittleJr.,HowardPerry&WalstonRealty
JeffJ.Logsdon,HowardPerry&WalstonNewHomes
GregoryB.Lovette,KellerWilliamsHankMailand,FonvilleMoriseyHaileyE.Maroncelli,FathomRealtyWendyL.Marrello-Morrison,ChathamHomesRealty
ChrisMartin,FonvilleMoriseyMargaretMartin,FonvilleMoriseyBrittanyMcCullough,FonvilleMoriseyLindsayS.McGlennon,ChathamHomesRealtyChristopherC.McLaurin,ERAPacesettersRealtyRodneyMcNabb,ChampionRealtyInc.DavidC.Meeker,CarpenterRealEstateGroupLiMeng,CHKRealtyAdamMiller,PowellRealtyBrendaMiller,LindaCraft&Team,REALTORS®
KriselieD.Monserrate,HowardPerry&WalstonRealty
MichelleMoore,AllenTateCo.Inc.
EdithB.Nelson,FlowersPlantationInfo&Sales
AtefeM.Northcutt,AllenTateCo.Inc.
BarryE.Oldham,EncoreProperties
OlumideA.Olurinmade,CovenantRealtyAssociatesL.L.C.
TammyM.Orebaugh,1stSignalCorp.
AubreyL.Palmer,AllenTateCo.Inc.
KimberlyA.Parker,FathomRealty
JoannePenezic,Regan&Co.
VictoriaP.Petraglia,CertifiedResidentialAppraisal
JeremyL.Pierce,KellerWilliams
MaryEllenPosedel,M/IHomesofRaleighL.L.C.
MaryE.Potter,RaleighCustomRealtyL.L.C.
LisaJ.Rison,HowardPerry&WalstonRealty
AllisonRodrigues,GoldenRealty&Management
MiryamI.Rubio-Driggers,HowardPerry&WalstonRealty
MichelleC.Russo,FonvilleMorisey
JohnW.Sanford,HowardPerry&WalstonRealty
TanyaM.Sasser,NorthsideRealtyInc.
PiperM.Schlage,RaleighMetroProperties
SueA.Schoonderwoerd,NorthsideRealtyInc.
SujungShin,CityRealty&InvestmentGroup
BridgetA.Smith,KeenanRealty
CraigD.Smith,DanRyanBuildersNCL.L.C.
ThomasSpicci,D.R.HortonInc.
BradyJ.Stanley,PanRealtyL.L.C.
Joe-DonStevenson,ExitSelectRealty
AnnK.Straub,RealtyWorldonSalemStreet
DonnaSugar,BeazerHomes
PatrickM.Tobler,HorizonManagementCo.Inc.
TimothyTriggs,FonvilleMorisey
StephanieA.Trojan,KellerWilliams
MichaelD.Truman,KellerWilliams
LuisTurner,YoungsvilleRealtyInc.
WilliamJ.Ulmer,D.R.HortonInc.
MariaT.Venegas,HowardPerry&WalstonRealty
PaulD.Virtue,ColdwellBankerAdvantage
LindsayWebb,FonvilleMorisey
JacquelineK.Weintraub,HowardPerry&WalstonRealty
JennifferA.Welch,FonvilleMorisey
KarlWhetzel,HowardPerry&WalstonNewHomes
KristiD.Wilkie,CastleCreekRealtyL.L.C.
W E L C O M E N E W M E M B E R S
If you would like to SPONSOR A NEW MEMBER ORIENTATION, please contact Betsy Ramsey at (919) 654-5400.
Spring 2011 REALTOR® Review 25
MEASURE WHAT MATTERS to Your Real Estate Site
See MEASURE WHAT MATTERS on page 26
BYGAHLORDDEWALD
One thing I consistently recom-mendtoclientsisthattheyinstalland monitor Web analytics. Noteveryonedoes,ofcourse.Butit’sdefinitely the starting point formaking websites better, in termsofaccomplishingbusinessgoals.
There can be lots of differentapproaches to a Web analyticsprogram.Infact,theremightevenbeasmanyuniqueusesforWebanalytics as there are differentreal estate websites that haveanalyticsinstalled.
Onecompanymaybemeasuringto calculate ROI (return on in-vestment) on paid advertising orsearchtrafficversussocialmediaefforts. Another company mightbeusinganalyticstolistentotheircustomers by reviewing keywordreportsandtrafficpatterns.Athirdcompanymightbeusinganalyticstoidentifyconversionratesfordif-ferentpaidadvertisingheadlines.Afourthmightbeusinganalyticstofigureoutifnewvisitorsbehavedifferentlythanrepeatvisitors.
Dependingonthegoalsofeachcompany, all of these approach-es are appropriate. There reallyisn’tasimple“fourmetricseveryREALTOR® must track day andnight or risk joining the careerpathofthefaxboy.”
Thatsaid,thereisanimportantguideline when setting up youranalyticsprogram:Measurewhatis important for your company’svalues as much as you measureforthebottomline.
Hopefullyyourcompany’svaluesalignneatlywithyourbottomlinealready.(Ifnot,thenthisshouldbeatopicforafuturecolumn.)
Herearesomeexamplesofmet-rics that might be aligned withyourcompanyvalues.
OUTSTANDING CUSTOMER SERVICE
Many real estate professionalspromote their high commitmentto customer service. You canmeasureyourperformanceinthisinseveralways.•Numberofsocialmediamentions
thatareexpressingpositivesenti-mentafterbeinghelpedinsomeway.(Usuallythesemessagesinclude“Thanks!”)
•Numberofqualitative/voice-of-customersurveysthatmention“easeofuse”ofwebsiteassomethinggoodaboutthesite.
•Numberofnon-realestatequestionsansweredviasocialmedia.(Answeringrealestatequestionsisn’toutstandingifyourbusinessisrealestate–it’sstandard.)
EXPERTISELikeoutstandingcustomerservice,
many real estate professionalsclaimtohaveexpertiseinageo-graphic region or property typeortypeofsale.Youcanputsomemeasurements in place to trackyourprogressinbeingtheexpert.
Hereareahandfulofmetricsrelatedtoexpertise:•Numberofquestionsrelated
toyourexpertiseanswered.•Numberofnewpagesrelated
toyourexpertisecreated.•Increaseinexpertise-topic
mailinglistdistribution.
26 REALTOR® Review Spring 2011
MEASUREWHATMATTERScontinued from page 25
MEASURING FOR VALUES, MEASURING VALUES
The purpose of metrics andanalytics is to help you makebetter decisions so you can takebetter actions. If you aren’t surehow your Web analytics canreally relate directly to yourbottomline, start by measuringthings that encourage fulfillmentofyourbrandpromises.
Onceyouhaveasolidprogramin place that can directly relateonline activity to your companyrevenue, continue measuring thecompanyvaluesmetrics.Hopefullyyouwill seeadirect relationbe-tween your values-based metricsandyourbottomline-basedmetrics.
If you don’t see a relationshipbetween fulfilling your brandpromisesandanincreaseinyourbusiness, then perhaps your val-uesaren’tmatchedwellwith thepeople in your market or withyourcompany.
Either way, if you see no rela-tionship between your companyvaluesandyourbottomline, thenit’s probably a good time to re-viewyourvalues.
Ultimately, the kinds of thingswe measure will influence theactions we take each day. If allof your key metrics are strictlyfocused on the bottomline, youmay run the risk of losing yourcompany “soul.” Attaching per-formancemetricstoyourvaluesisawaytomaintainyourvision.
GahlordDewaldisthepresidentandjani-tor of Thoughtfaucet, a strategic creativeservicescompanyinBurlington,Vt.
Measure what is important for your company’s values as much as you measure for the bottomline.
Spring 2011 REALTOR® Review 27
Gone are the days where advertising alonedoes the job. The secret to having a steadystreamof clients today is to createapositivebuzzaboutyourbusiness.
Word-of-mouthmarketing is nothing new.Weallwantotherstosaypositivethingsaboutourbusinesses.Ifyouwouldliketogetpeoplebuzz-ingabouthowgreatyouandyourservicesare,herearesevengreatwaystodoit.
1. The best marketing buzz: a new listing sign with a “sold” rider in 72 hours
When a for-sale sign pops upinaneighborhood,theneighborsare always buzzing about theprice,thereasonstheirneighborsaremovingand,most important,whether the agent will get thejobdone.
Ifyouhaveareputationforsell-inghomesquickly,youwill likelyhavemoresellersseekingoutyourservices.Youalsocanexpectthatyoursellerswilltelleveryonetheyknowabouthowtheirhousesoldquicklyinthistoughmarket.
2. Help someone avoid foreclosure
Manypeoplehavetheimpressionthatmost realestateagentscareonly about themselves and theircommissions.Youcangetpeoplebuzzingabouthowgreatyouarebyhelpingdistressedpropertyownersfindasolutiontotheirsituation.
For example, if apast client isfacing a foreclosure sale, youcan tell them about the “ask forthenotestrategy”todelayorstoptheforeclosure.Youcanalsoreferthem toanorganization suchastheNationalAssociationofCon-sumerAdvocates,whichperformsforensic loanaudits todetermineif the lender violated any RESPA(RealEstateSettlementProceduresAct)orotherrequirements.
If the lenderdid so, theownernow has more leverage to workout a loan modification, a shortsaleorsomeothersolution.
3. Support your local teamTocreateapositivebuzzabout
your business, host a specialevent for people in your referraldatabase. Rent a bus and takeyourgueststothemostimportantaway game for your local highschoolorcollege.Provideplentyoffood,icecream,souvenirsandothergoodies.
Arrangeforaphotographerandpostthepicturestoyourwebsite.
See MARKETING BUZZ on page 29
7 Tips to Create Real Estate Marketing BuzzBYBERNICEROSS
There are literally thousands of ways to get people buzzing about you and your business. All it takes is a little creativity.
28 REALTOR® Review Spring 2011
Thursday - May 26, 2011
The Annual Raleigh Regional Association of REALTORS® Charity Golf Tournament
Twelve Oaks Golf Course • Holly Springs (A Nicklaus Design Golf Course)
Players can register online at
www.RRAR.com Foursomes contact
Vicki Buckholz at [email protected]
or via phone at 919-654-5400, ext.216
REGISTER
Tournament Price* $75 Member Cost $85 Non-Member Cost
* Cost includes breakfast, green fees, driving range, beverages, prizes and lunch.
SCHEDULE OF EVENTS 8:00 AM Check In/Breakfast 8:30 AM Shot Gun Start 2:00 PM BBQ Lunch 2:30 PM Awards Ceremony
Proceeds from the event benefit the REALTOR® Foundation
of the Triangle.
You’re Invited...
Event Sponsors:
Spring 2011 REALTOR® Review 29
Sendoutthelinktoeveryonewhoattended,aswellastoanyalum-niyouhappentoknow.Whetheryourteamwinsorloses,everyonewillbe“buzzing”aboutthegreattimetheyhad.
4. Be “You-nique”Butch Grimes, a foreclosure/
probate specialist and presidentof WeTalkRealEstate.com uses avarietyofmethods togetpeoplebuzzing about his real estatebusiness. In addition to hostinga 24-7 radio show, Grimes em-phasizestheimportanceofbeing“You-nique.”
For example, Grimes has a20-foot-tall,inflatableopenhousesignthatheusestoattractvisitorstohisopenhouses.Tohelppeo-plefindhisopenhouses,hehaddirectionalsignsmadewithalife-sizedcutoutofhimattachedtothesign.Fromadistance,itlooksasifhe ispersonallystanding theredirectingyoutohisopenhouse.
Theonethinghedoesthatgetsthemostbuzz,however, is send-ing a chauffeur-driven limousinetopickhisclientsupatworkandtake them to the escrow to signtheirfinalclosingdocuments.Youcanimaginethebuzzthiscreatesamonghisclients,aswellastheircolleagues, who see them beingusheredintoalimousine.
5. Take advantage of social media and texting
Rather than being aggravatedwhen you work with a clientwho is more involved in textingthan interacting with you, take
advantageof this activity.Whenyou send your buyers informa-tionaboutthelistingsyouwillbeshowing them, include as manypicturesofthelistingsaspossible.
Next,askyourbuyerstoforwardthe information to their friendsviae-mailoronFacebook.Makeit a game. Ask their friends topredictwhich house your buyerswill like best. Everyone has fun.Youcanalsoprobablyexpectlotsof texting going back and forthabout which house will be thebuyers’favorite.
6. Help others build their businesses
Do you have a favorite drycleaneror restaurant?Doanyofyour clients own their own busi-nesses? If you are a customer,postavideo testimonial for themon Yelp.com as well as on theirLinkedIn.comprofile if they haveone. Normally, when someoneposts a testimonial for anotherperson’sbusiness,theywillrecip-rocatewithatestimonialforyou.
7. Give away a conversation starter
Manyagentsmarket theirbusi-nessesbygivingawaymagnets.In2005, Inventables.combegandistributing “squishy magnets.”These magnets feel like a pieceoffoamrubberandcanbeusedto close doors without the doorsslamming. Distributing these toyour geographical farm or onyour open houses will make agreat conversation starter andget people buzzing about theagent who gave them this niftylittlegiftitem.
Thereare literally thousandsofwaystogetpeoplebuzzingaboutyouandyourbusiness.Allittakesisalittlecreativity.Bernice Ross, chief executive officer ofRealEstateCoach.com,isanationalspeak-er, trainerandauthorof theNationalAs-sociationofREALTORS®,No.1best seller,Real Estate Dough: Your Recipe for Real Estate Success. HearRoss’five-minutedailyreal estate show, just named “new andnotable” by iTunes, at www.RealEstate-CoachRadio.com. You can contact her [email protected] or @BRossonTwitter.
MARKETINGBUZZcontinued from page 27
30 REALTOR® Review Spring 2011
2 NewMemberOrientation,8:30a.m.to3p.m.
3 TriangleREALTORS®LeadershipAcademy
4-5NationalOpenHouseWeekend
7 CE:MandatoryUpdate,8:30a.m.to12:30p.m. Instructor:GeorgeBell
CE:TheFormsCourse,1:30p.m.to5:30p.m.Instructor:GeorgeBell
9 CE:MandatoryUpdate,8:30a.m.to12:30p.m. Instructor:TomMahlum
GovernmentAffairsCommitteeMeeting,11:30a.m.
CE:Understanding1031TaxFreeExchanges,1:30p.m.to5:30p.m.Instructor:TomMahlum
13 HousingOpportunityCommitteeMeeting,9:30a.m. to10:30a.m.
14 Happy Flag Day
15 SmallBusinessCouncil,8:45a.m.to10a.m.
16 NewMemberOrientation,8:30a.m.to3p.m.
20 Happy Father’s Day
21 CommunityServiceCommittee, noonto1p.m.
First day of summer
July 1 TriangleMLS3rdQuarter UserFeesDue
4 Independence Day,officeclosed
6 Women’sCouncilofREALTORS®
7 NewMemberOrientation,8:30a.m.to3p.m.
11 HousingOpportunityCommitteeMeeting, 9:30a.m.to10:30a.m.
13 HousingHeroSeminar,9a.m.
14 PropertyManagementCouncil
20 SmallBusinessCouncil,8:45a.m.to10a.m.
21 NewMemberOrientation,8:30a.m.to3p.m.
25 REALTOR®FoundationoftheTriangle,noonto3p.m.
27 GovernmentAffairsCommitteeBusiness Meeting,11a.m.
May4 CE:MandatoryUpdate,8:30a.m.to12:30p.m. Instructor:GeorgeBell
CE:BICAR,1:30p.m.to5:30p.m.Instructor:GeorgeBell
Women’sCouncilofREALTORS®
5 NewMemberOrientation,8:30a.m.to3:00p.m.
6 TriangleREALTORS®LeadershipAcademy
8 Happy Mother’s Day
9 HousingOpportunityCommittee,9:30a.m. to10:30a.m.
12 PropertyManagementCouncilGovernmentAffairs CommitteeMeeting,11:30a.m.
13-14FoundationDays,EastgatePark
16 CE:MandatoryUpdate,5:00p.m.to9:00p.m. Instructor:VickiFerneyhough
17 CommunityServiceCommittee,noonto1p.m.
18 SmallBusinessCouncil,8:45a.m.to11a.m. TriangleInternationalCouncilofREALTORS®
19 NewMemberOrientation,8:30a.m.to3p.m.
25 CE:MandatoryUpdate,8:30a.m.to12:30p.m. Instructor:DebbieLong
CE:BICAR,1:30p.m.to5:30p.m.Instructor:DebbieLong
26 AnnualCharityGolfTournament,TwelveOaks
27 TriangleREALTORS®LeadershipAcademy
30 Memorial Day,officeclosed
June1 CE:MandatoryUpdate,8:30a.m.to12:30p.m. Instructor:MarkGiven
CEElective:Foreclosure,ShortSales,REOs&Auctions,1:30p.m.to5:30p.m.Instructor:MarkGiven
Women’sCouncilofREALTORS®
TopProducersCouncil
RRARevents
Spring 2011 REALTOR® Review 31
Someofus like topickupahammereverynowandthen.Ihavedoneitmyself.
I finished off my own 900-square-foot fin-ished basement years ago. Well, I did theframingmyself,butlefttheelectric,plumbing,HVAC,drywall,etc.,tosubcontractors.Iplanonsomedayfinishingthethird-flooratticinthehomeIliveinnow.
So if you do something like this, do you need to get a building permit?
Theanswerisyes, yes, yes.Hereiswhy.It’sbecomingahottopicintherealestateindustry.
Building Permits After the Fact Help Home SalesByJohnHagan
Whenit’stimetosellyourhome,mostrealestateagentswillmakeit clear in the listing that part ofthe square footage of the housewasnotpermitted.Thiscouldbea red flag for buyers, and canlowerthevalueofthehomeinthebuyer’seyes.
Real estate agents, appraisers,andevenlendersarepointingoutthese situations more and more.And, yes, there have been law-suits involving houses sold withnon-permittedsquarefootagethatwasnotdisclosed.
The other reason you need toget apermit is tomake sure thework is done in a safe manner.The city inspectors are there toenforcethecode,whichiswrittenin part to ensure safety for thehomeowner. Believe me, I haveseenwaytoomanyelectricalsafety
issuesinworkthatwasdonewith-outapermit.
Itisnotthatbigofadealtogeta permit before doing an addi-tion.Youfillout thecityapplica-tionandcallforcityinspectorsatcertainintervalstodotheinspec-tions. You address any concernsthecityinspectorshavealongtheway.At theend,yougetafinalinspection, and the city issues acertificateofoccupancy.
The cost is not huge. For in-stance, in Cary a 600-square-footbonus roomadditionwithabathroomwouldcostyouaround$450forthepermit.Thisisnotahugeportionofthewholeprojectbudget.
So, what if you had a projectdoneinyourhomewithoutabuild-ing permit? There is some good
news. Most of the cities aroundtheTrianglewillletyougetaper-mitnow,evenifitisyearslater.
Ifasituationarises,anditisgo-ing to jeopardize the saleof thehome,itispossibletogettheper-mitafter-the-fact.Ittakessomeex-pertise;somereworkof theareato bring it up to code, a goodlicensed electrician, HVAC tech-nician and/or plumber; and agood amount of paperwork andlegwork with the city inspectionandpermitoffice.
I have added a service to myhome inspection business called“After-the-Fact Permits.” It’s de-signedforthosewhoneedtogetthepermit,buttheyalreadycom-pletedtheprojectwithoutone.
32 REALTOR® Review Spring 2011
bits & pieces
Raleigh Associate Program is growing
The Raleigh Regional Association of REALTORS®
wouldliketorecognizeandacknowledgethefollow-ing2010RaleighAssociateProgrammembers:
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Spring 2011 REALTOR® Review 33
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