"Ten Tips to Being a Good 'Refer-ee'"
Realty Times (01/20/10) Allan, Jennifer

Agents often refer buyers and sellers to other practitioners, and there are several steps "refer-ees" should take to keep word-of-mouth business coming their way. They should show the referring agent that they truly appreciate the referral, always disclose right away if they are not the right person for the job and refer an appropriate agent, and immediately contact the prospective client if they do accept the referral. They also should contact the referring agent to inform him or her that contact has been made, disclose as many details of the conversation as possible while maintaining privacy, and thank the fellow agent again for the referral. Furthermore, they should regularly update the referring agent about the client's status, avoid complaining about the client, maintain contact with the client and the referring agent even if the client is not ready to buy or sell just yet, and immediately sign and return the referral agreement. Finally, they should do all they can to impress the client, which will lead to additional referrals from both the client and the referring agent.
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"REALTORS Get Green Training"
Lynchburg News & Advance (VA) (01/19/10) Giovanelli, Laura

About 4,000 REALTORS have achieved the National Association of REALTORS' green designation since its inception in November 2008, and other real estate professionals are becoming certified EcoBrokers. These agents assess curb appeal, help sellers de-clutter, and perform other functions of traditional property agents. They also help sellers evaluate their homes' eco-friendliness and market their homes' green features. In addition, they let them know how to make their homes more energy efficient. REALTORS with green credentials can inform their clients about organic gardens, low-VOC paints, programmable thermostats, Energy Star appliances, and other green items that can lower their utility bills. "Green building is just essentially saving money," says NAR spokeswoman Michelle Wardlaw. "It's not really a fad."
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"8 Ways to Make More Meaningful Business Connections in 2010"
RISMedia (01/15/10) Kuzmeski, Maribeth

Maribeth Kuzmeski, author of "The Connectors: How the World's Most Successful Businesspeople Build Relationships and Win Clients for Life," says real estate professionals should focus on making more meaningful business connections in the new year. They should recognize the importance of social media and making meaningful connections on Facebook and Twitter, which means concentrating on the quality of connections instead of on getting more friends or posting more often. They also should make an effort to leave meaningful voicemail messages, build a network similar to those assembled by school alumni and make frequent contact with members of the network. Agents also would be wise to identify individuals who would make the most powerful business connections and never forget the value of face-to-face communication. Finally, if they forget to follow up with someone, inadvertently offend someone online, or commit another such faux pas, Kuzmeski says they should remove the offending posts, apologize online, then make a phone call to apologize personally.
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"A Cure for the Vacant Home? Live-In Stagers"
Charlotte Observer (NC) (01/17/10) Owers, Paul

Showhomes, a Nashville-based home management and staging company, provides live-in stagers for vacant homes that are up for sale. Live-in stagers reduce the chances that the property will be vandalized, and they ensure that the listing is kept in show condition and ready for buyers to tour with just 30 minutes' notice. They also must vacate the home when it sells; but in return, they pay dramatically reduced rents. Don Vanderhoef, who owns Showhomes' Fort Lauderdale franchise, says, "A big part of it is psychology. Buyers see food in the refrigerator, clothes in the closet. They see all the signs of life of a regular home." While some REALTORS worry that live-in stagers will not keep the home clean or cause problems when asked to move out, Vanderhoef says in-home managers sign contracts and submit to background checks. In the company's 24-year history, he says it has worked with only one problem manager. The program's properties generally spend less time on the market and fetch more money than other vacant listings. The company collects a "success" fee of 1 percent of the list price when a sale is completed and only the upfront money if the home is not sold.
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"Real Estate Spending on Web Ads to Drop Even Further in 2010"
ClickZ News (01/14/10) Quenqua, Douglas

A new report from Borrell Associates estimates that real estate agents, brokers, developers and management firms will fork out $7.2 billion in online advertising this year. The number represents a 4 percent decline from last year -- significant considering that Internet advertising by the sector slipped just 1 percent from 2008 to 2009 despite the housing market slump. While Web advertising will drop, the amount of money devoted to by real estate interests on overall advertising will actually rise about 2 percent. That suggests, according to Borrell President Colby Atwood, that property-industry advertisers will focus on other avenues. "Advertisers across the board are beginning to flatten out the amount of money that they put into advertising per se, and they are increasing their investment in promotions."
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"Selling Your Home? REALTORS Pick Nine Green Improvements to Close Deal"
USA Today (01/14/10)

HomeGain's new poll of nearly 1,000 realtors offers a glimpse at the top "green" improvements recommended by real estate professionals to help move a sale property off the market. Those upgrades -- which include planting native greenery, replacing air filters, staging the home with recycled or reusable props, weather-stripping doors and windows, installing programmable thermostats, installing low-flow showerheads, using turn-off power strips, replacing standard lighting with CFL or LED bulbs and choosing low-VOC paint -- are all fairly inexpensive investments. And while three of those nine options get back at least twice as much in sale price gains as they cost, none have a bigger return on investment (ROI) than the top five traditional upgrades suggested by realty practitioners in a November survey. Cleaning and de-cluttering a home before it goes on the market, for instance, will cost the owner less than $200 to complete but bumps up the property's sale price by almost $1,700 -- for a staggering ROI of 872 percent. Other high-ROI traditional improvements recommended by the real estate community include home staging, lightening/brightening, landscaping, and plumbing repairs. Although they do not offer a great ROI, HomeGain says eco-improvements are becoming more popular; and with their energy savings and low cost of investment, they probably should be considered by all homeowners -- not just those preparing their unit for sale.
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"Re-Evaluating Broker Value"
Inman News (01/19/10) Brambila, Andrea V.

The nature of today's real estate market -- where agents have the resources to conduct most of their business online, work remotely, advertise for less and keep in touch with clients through the Web -- is calling the value of brokers into question. An expert panel appearing at the recent Real Estate Connect event, however, pointed out that brokers have a role in helping agents navigate these different tools available and distinguish themselves from the competition. "There are all kinds of different tools," agreed Ken Baris, president of Jordan Baris Inc. REALTORS, "but [agents] get lost -- how are [they] going to effectively use them?" One example, according to Jonathan Kauffmann of Virginia-based Nest Realty, is a Customer Relationship Management (CRM) system -- one of six attributes that he said agents seek in a broker. "It's so important for agents to stay in touch with past clients," Kauffmann explained. "[A CRM] is how you track what you've done. Not many brokers or agents use CRMs, but it's a great way to make more money and be as efficient as possible." Both he and Baris also cited branding -- and the ability to differentiate it -- as a critical tool that brokerages can offer to agents. According to Kauffmann, the other four attributes are fiscal responsibility, education and information, technology, and marketing tools. In addition, panelists said brokers can show agents how to respond to market trends or crises that arise. Finally, they offer such benefits as alliances with major brands.
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"Home-Builders Association Offers Training"
Door County Advocate (01/20/10)

A training program is in the works to help Wisconsin builders comply with new state Department of Health Services and EPA requirements that go into effect on April 22. The state of Wisconsin and the EPA will soon require people involved in renovations of homes built prior to 1978 to have a Wisconsin lead-safe renovator certification. In response, the Wisconsin Builders Association is partnering with the Door County Home Builders Association to offer lead-safe renovator training at the Stone Harbor Resort and Conference Center in Sturgeon Bay on March 2 and April 14. The all-day course meets required training criteria to apply for certification via the Wisconsin Department of Health Services. Topics will range from regulations and proper lead-safe practices during setup to work completion and cleanup.
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"Milwaukee Ranks High in Home Price Declines"
Milwaukee Business Journal (WI) (01/12/10)

Trulia.com reports that the number of Milwaukee-area homes on the market taking price cuts continued to decelerate. According to data from the real estate listing Web site, 33 percent of Milwaukee listings took a price cut during the past 12 months ended Jan. 1, down from 35 percent of listings as of Dec. 1, 2009. Nationwide, by comparison, 21 percent of homes on the market as of Jan. 1 had experienced at least one price cut. Trulia co-founder and CEO Pete Flint stated, "Consumers have a golden window of opportunity to find a great home and take advantage of the tax credit before mortgage rates start to rise. Historically low interest rates currently available and tax credit incentives are the ultimate price reductions for home buyers. As rates rise throughout the course of the year, buyers will need to adjust their purchase price ceiling."
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"Housing Market Heating Up"
nbc15.com (01/12/2010) Pollack, Barclay

In Wisconsin and elsewhere, now may be the ideal time for sellers to list their homes. Interest rates remain low, home prices have come down, and there's the 8,000 federal tax credit for first-time buyers. This past November, the federal government extended the $8,000 first-time home buyers tax credit. Additionally, those who have owned a home for five of the last eight years consecutively may be eligible for a tax credit of up to $6,500. Joe Murray with the Wisconsin REALTORS Association says these factors combined have gotten many people who previously had no interest in buying to start house hunting. Murray remarks, "If you're interested in buying a home, you should probably move sooner rather than later." Both the tax credit for first time buyers and the one for existing homeowners is set to expire at the end of April. The Wisconsin REALTORS Association has launched a Web site containing information about thse two tax credits at www.wisconsinhomebuyer.org.
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"Economic Luncheon Includes Hope and Uncertainty"
Wisconsin State Journal (01/14/10) Newman, Judy

Samuel Kahan, senior economist with the Federal Reserve Bank of Chicago, states that there are not enough stop-gap measures to prevent another free fall of the U.S. economy. Kahan made his remarks at last week's Wisconsin Economic Forecast luncheon at Monona Terrace in Madison. During his speech, he recommended the creation of a "master regulator" to be housed within the U.S. Treasury Department. Kahan further notes that there are concerns the commercial real estate market is still vulnerable and that the business sector remains weak. Nearly 500 people attended the gathering, which was presented by the Wisconsin REALTORS Association in conjunction with the Wisconsin Bankers Association and the Greater Madison Chamber of Commerce. Also on hand was Roger Erickson, senior vice president of mortgage for Wisconsin Community Bank. He cautioned that the housing market could dip again after a federal tax credit program ends later this spring. Bonnie Wetter, senior vice president of the Marshall & Ilsley Trust Co., said she is concerned about the loss of jobs and of population in Rock County as residents pull up stakes for jobs elsewhere. Wetter remarks, "My fear is: we're behind the eight-ball in Wisconsin for job creation."
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"Bill Would Prohibit Landlords From Collecting Rent From Deceased Tenants"
La Crosse Tribune (WI) (01/14/10) DeFour, Matthew

Late last year, Wisconsin Rep. Spencer Black (D-Madison) introduced a bill that would prohibit apartment owners from collecting rent or fees from the estate of a deceased resident. Such a situation happens from time to time, typically with the elderly. The Madison-based Tenant Resource Center, for instance, reports receiving a few dozen calls a year from apartment owners and residents on this issue. Under state law, owners may collect rent from the estate of a deceased person in probate court -- but not from their family members. Black stresses that the majority of apartment owners and their staffers handle such situations with sensitivity. But there are always the exceptions. Opponents of Black's bill say owners rely on lease accords to guarantee their annual income. John Fischer, vice president of the Wisconsin Apartment Association, notes that the typical case entails an owner trying to collect from the estate of an elderly person in probate court. Fischer wonders whether future legislation will seek to prevent a creditor from collecting on a deceased person's car loan or a mortgage. He adds, "We're getting a little bit too close to infringing on standard contract loans." Bob Welch, representing the Apartment Association of South Central Wisconsin, warns that the legislation could be a disincentive to provide housing for the frail and elderly.
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"Home Builders Expect Construction Recovery"
Wall Street Journal (01/20/10) P. B3; Hagerty, James R.; Wotapka, Dawn

National Association of Home Builders chief economist David Crowe predicts that builders will break ground on 610,000 single-family homes this year -- a 38 percent gain from 2009. He warns, however, that the housing market remains tenuous at best due to such factors as increasing foreclosures, anemic job growth, and continued tight credit conditions. More builders are focusing on lower-cost dwellings to compete with foreclosures. The good news is many builders have started 2010 with a low supply of completed units, which should spur construction in the coming months as they seek to have homes ready for buyers nearing the April 30 deadline to qualify for a federal tax credit.
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"First-Time Home Buyer Stimulus Gives Big Boost"
WPTZ.com (Vt.) (01/12/10)

One of America's most-respected real estate experts, National Association of REALTORS chief economist Lawrence Yun, recently stated that the residential property market is beginning to claw its way back from a prolonged slump. Recovery was helped tremendously, he noted, by a federal incentive for first-time home buyers and will be helped going forward by more job creation later this year. "It is still not back to normal," Yun concedes, "but we are trending towards the normal levels, and I believe the market will begin to steadily stabilize."
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