Meeting notes 6/30

Thanks to Janet Davis for covering the meeting today for Linda while she is out for her knee surgery.
Sara Lutz was here to talk about the “Discovery Shop” sponsored by the American Cancer Society. It is an upscale, resale shop. They are looking for gently used women’s clothing, accessories like jewelry, belts, purses, shoes, etc. Also they are looking for furniture, home décor, artwork, collectibles, household items like lamps & dishes. Your donations are what the discovery shop resells to raise money for the Cancer Society research, education, advocacy and service programs. If you have furniture they have a moving company that volunteers one day a month to pick up items or deliver purchases. If you have questions please call Kathy Walker, Mgr. at 891-8343.
Check you mailbox for an excellent article on “Who’s to blame for a declining real estate market?”
Janet talked about our effective service area which is W02. There are 299 listing now on the market in W02. 79 of those listings are in Wyoming. It is important when you get a listing to get it priced right.
Janet covered a few of the points from the 2 day seminar last week. If you did not attend or would like to go back over what was covered at that meeting go to: truenorthprinciples.com and use the password truenorth123.
There is a new real estate vocabulary today.
Examples: marketing a home instead of listing a home
Homes currently on market & not selling instead of active listings
Initial market positioning instead of asking price
Repositioning instead of reduction
Marketing consultant instead of listing agent
Generating new business instead of prospecting
Difference between Appreciating and depreciating market:
Appreciating market has low interest rates, prices pushed up, sellers don’t sell, low inventory
Depreciating market has overpriced listings, tipping point, inventory increases.
Deciding when to buy or sell. Predictors are saying we probably have not hit bottom yet. It may be another 5 to 7 yrs before things start to appreciate again. Over the last 2 yrs company transferees are down 70%. GE is asking transferees to rent instead of buying because they don’t want to deal with trying to sell their homes again in 3 or 4 yrs.
Janet suggested that you make your repositioning meeting at the office which is a more neutral place. Keep in mind you are their advocate, share all data on inventory and office market concept, graphs with MLS data, review market positioning graph, appreciation & depreciation concept. The buyer pool is always there at the right price. They used the example of a laptop. They asked if anyone would buy it at $5000.00 and no one put up their hand, then they ask if they would buy it for $1.00 and everybody put up their hand. At the right price there is always a buyer. Your job is to educate and to tell them what the reality is. Janet said the managers are going to be assisting you in getting listings. If you give Janet (or Linda when she gets back) the listers name & phone number they will call your seller a day or two before to talk to the sellers to explain that you are part a team and everyone works together to get your listing sold.