NAR Orlando - Friday's Sessions

The first day is over now - my feet are tired but I'm more excited about being in the real estate business. I attended four sessions plus spent some time in the exhibit hall, drinking mimosas and meeting people. Here's a taste of what I heard on Friday in "The Power Broker Perspective" session:

Mike Brodie – Keller Williams - Broker/Owner - Preston, TX
- Believes there will be a huge shift in wealth and market share in real estate over the next few years.
- We need to be the local economist of choice. We need to know our numbers – down to zip codes in our market. Be a knowledge resource.
- Too much stinking thinking – too many people who brighten the room just by leaving.
- Tells people every day we are closer to coming out of this.
- For sellers – it’s all about price. They have to price ahead of the market instead of chasing the market. Sell low, buy low is the new paradigm. “Sellers are in prison in their own overpriced listings”
- People love data, love statistics. Share them with your past customers/clients. Now is not the time for recipes and gardening tips.

Doug Ayers - Koenig & Strey GMAC Real Estate - President and CEO
- We have to be confident about our business. When is our market going to change? It just did. It is always changing.
- We have to be the trusted source of local information; even boiling it down to the neighborhood. Provide it through graphs, electronically.
- Real estate business is a roller coaster ride – some people ride it with their hands up, some people hold on tight, some people don’t participate at all.

Tom Kunz – Century 21 LLC President and CEO
- Be able to explain the $7,500 tax credit. Here’s a nice summary: http://turbotax.intuit.com/support/kb/tax-content/tax-tips/6360.html. Use it to sell more homes.
- Read Realogy Franchise Group President and CEO, Alex Perriello, call to action to the more than 300,000 sales professionals affiliated with the company’s real estate brands to reach out families struggling against foreclosure. Calling it the “Save the Dream” initiative, Perriello sent a letter to every broker and agent within the organization in October with a single goal defined: Find just one family in their local market facing foreclosure and help them reach out to their lender and hopefully negotiate a resolution. For the letter, go to this link: http://rismedia.com/wp/2008-10-15/realogy-franchise-group-chief-calls-on-agents-to-help-families-in-foreclosure/. Do something like this yourself. Think of the goodwill you will get back in your community.
- Host a mortgage checkup session with homeowners (we heard this from LJ Jennings, too)

Rei Mesa – President and COO Prudential Florida Realty
- We must “say no to overpriced, unrealistic listings” – have to tell these sellers – “please don’t add to the misery in the market”
- We need to educate renters – need to host seminars targeting apartment communities with monthly rents at similar level to monthly mortgage payments. Show them the buy vs. rent math.