Don’t worry if you were not able to attend last month’s company meeting at the Multnomah Athletic Club. As always, Brian’s presentation addressing the packed crowd inspired us to take notes and share with those who missed it. Here are the highlights:
2014 Market Recap & Glance at 2015
We ended 2014 on a high note, which is a great sign of things to come. December’s unusually high closed sales represented the kind of momentum that’s been building up. 2015 will probably be one of the best years ever.
Price appreciation is at a much more sustainable level with real job and earnings growth occurring.
The big story will be inventory — not only is it extremely low in the city and Clark County, but what happens in the inner city has a ripple effect to the outer suburb areas, hitting there eventually. Appreciation is also hitting the outer areas now as well.
Tips for Success
It will be a footrace for today’s Broker. You’ll have to be clear on your mission — which should always be helping your clients accomplish their goals.
If that goal is to buy a home in one of the highly competitive areas that means helping your buyers construct a highly competitive offer. Coach your buyers to have their financing in order and be prepared to move quickly and aggressively when the right home hits the market.
Get out and educate the people you know. Now is the right time to list a home for sale (no cliché intended). Buyers will save money by buying and not renting in today’s market where renting is more expensive than paying a mortgage. Communicate the cost of waiting by comparing rental numbers to mortgage numbers.
Client Psychology 101
Brian said that “people buy emotionally and justify intellectually.” He posed a question for you to ask your clients: Whose mortgage do you want to pay? Yours or your landlords? Clients first make decisions like that based on emotion and then examine the numbers (rental costs vs. mortgage) to justify what’s already been decided.
They also work with you because you emotionally connect with them from the start. They might investigate your experience (like how many homes you’ve sold in their neighborhood) later to justify working with you — a decision they’ve already made shortly after meeting you.
A key demographic for you to get to know is the millennials (16 – 32 year olds) because they will be the largest group of home buyers by the end of 2015.
The mailers and emails should be the foundation of what you do but not all that you do. As the world moves toward mass marketing, you need to be the contrary. For example, participate in direct mail versus email. Most importantly, talk to as many people in your sphere as possible each week. Take advantage of any new listings you have to market yourself to the neighborhood. Invite neighbors to an exclusive “Neighbors Only” open house.
The second part of the meeting was also a hit, featuring the 2012 Toastmasters World Campion, Ryan Avery. I am not sure any notes could do the Portland resident and obvious Millennial any justice. He hit it off with the crowd by delving into personal stories that had us laughing and engaged, while offering his tips for connecting with people through communication. His bottom line message is to learn how to tell you own story. Your clients need to connect with you first and what you can do for them second.
*For access to Brian’s entire presentation, the public can contact Windermere Staff or Windermere Brokers can visit MyWindernet.
As we all braved last week’s blustery storm to attend the unveiling party for the newly transformed Lloyd Tower office, I was reminded of how our work environment can help us thrive. We spend most of our days working, but the space is often overlooked by many, especially real estate brokers who argue that business isn’t done in the office. It’s true that technology allows us to work from wherever we want, but public workspaces can be important for the average real estate professional.
Your jobs are some of the toughest out there. There aren’t many careers where you’re openly putting yourself on the line by offering your precious time, knowledge and sometimes personal funds without guarantee of gaining anything in return. Even the daily battles of a job in real estate can be tough, with a warm office environment providing a welcome respite. You can kick off your shoes, pour a soothing cup of tea and, most importantly, bounce ideas off of your real estate colleagues.
A new common area at Lloyd Tower, otherwise known as “the Café,” encourages brokers to do just that. When I bumped into Susie Hunt Moran, who works in the Lloyd Tower office with a team of three, she said her team loves the new Café because it allows them to interact with other officemates during breaks.
“Even though we are getting work done by talking about the market and industry topics, the uninhibited space makes it feel less like work and more like you’re just chatting with friends in your kitchen,” Susie said.
Susie has noticed more brokers coming into Lloyd Tower for work, instead of operating out of their homes, allowing for camaraderie, collaboration and more use of the technology.
“Working from an office can be a critical piece of a real estate career, where the foundation of success is based on routine and boundaries,” Susie said. “Even though each day in real estate is never the same, the office is buzzing in the morning hours. The days when I’m feeling off-kilter are when I haven’t been able to make it into the office during this morning time.”
In a quest to freshen the overall look by infusing sophisticated mid-century influence into the space, we examined the general flow of the entire office, redesigning it to bring people together while also providing options for privacy.
What are your tips for creating a successful working environment? Do you have “office hours” that you adhere to, or do you flourish in the quiet of your own home? Respond here and tell us what works for you!
Today the Windermere Foundation received this thank you letter from Maverick Main Stage Productions, a nonprofit that provides low-income youth in Northeast Portland the opportunity to express their creativity and talent through theater. It is one of the many organizations the Foundation has supported in the third quarter of this year.
Looking back over the donations made throughout July, August and September, the Windermere Foundation donated $20,750 to 10 nonprofits in the Portland metro and north Oregon coast area!
- Assistance League of Columbia Pacific – Provides new clothing to low-income youth so they can start the new school year with confidence.
- Astoria Rescue Mission – Supports homeless families during times of crisis by providing food, shelter, clothing and transitional services.
- Betties360 – Builds self-esteem and a sense of possibility in low-income girls through outdoor and athletic adventure, from rock climbing to roller derby!
- Community Transitional School – Creates a stable educational environment for homeless youth by providing transportation to and from school, regardless of when, where or how often the students are moved or displaced.
- De la Salle North Catholic High School – Provides college preparatory education to low-income, underserved students in North Portland.
- Franklin High School Foods Program – Allows low-income students the opportunity to learn about nutrition by cooking and sharing meals with homeless youth.
- Girls Inc. of the Pacific Northwest – Empowers girls to realize their greater potential through gender-specific programming, with an emphasis on science, technology, engineering and math studies and careers.
- Maverick Main Stage Productions – Cultivates the creativity and talent of underserved youth through theatrical production.
- Portland YouthBuilders – Develops and supports education and career aspirations for students who have dropped out of high school.
- REACH Community Development – Provides housing assistance and economic stability programming to low-income families.
Found these photos from another life, circa 1987. Remnants of an interim modeling job—a time between being a mostly stay at home mom with part-time teaching gigs and a single mom needing to bring home real bacon. How did I get into Real Estate as a career? I met a guy…(not Brian) through modeling and commercial work who suggested I look into Real Estate as a career. It was attractive to me because I didn’t want to be around just kids all the time (teaching) and I thought it would be flexible so I could still be a good mom. I also had extensive moving experience with the former Mr. and thought I could bring that to the table. The craziest part was that I had moved to Seattle with no friends or family—except the three kiddos. I got my license in one month—taking classes every night. My new Managing Principal Broker took a huge chance on me succeeding in sales because I had NO network in the area, but I turned out to have a knack and did very well. My kids might say the flexibility part was a bad assumption and I’m pretty sure they thought the phone had merged with my ear. They still have a flinch reflex when they see me on the phone.
Why did you decide on real estate as a career?
Buying a home is a wise investment and can be an exciting decision in your life, but you might be wondering where to begin. This checklist is a nice breakdown of where to start, the important steps to take and what you can expect. Happy house hunting!