Introduction to Marketing Yourself online

Posted at 9:00 AM, Oct. 26, 2007

Lately, I've been getting a lot of questions from other agents in my office as far as what they need in order to market themselves online. There are some basics, but you do have to build on the basics to really establish an internet presence.

The Basics

1. An Email Address, that you check and reply to daily. While it would be ideal if you had a permanent email address that did not change regardless of who your internet provider is, when you are just getting started it's a matter of finding a service that you can and will use. So whatever you have available, whether you are an AOL user using your AOL address, or if you set up a free account on Yahoo or Hotmail... or if you want to go ahead and take that step and get a permanent email address (which I will talk about later), you need an email address that you provide to your prospects so that they can reach you and most importantly that you have access to check on a daily basis. Do not leave your prospects waiting for a response or they will find someone else who will respond faster.

2. A website. It's not enough to just have a website, you have to let people know that you have a website. You have to market your website, just like you market yourself (and I will discuss this more in-depth in future articles, as well). Having a website that you don't promote is like having business cards and never passing them out. That said, it's not enough to just have a website. Using the business card analogy, many people are handing out their business cards but they are forgetting to make sure their phone number is on the card. What I mean by this is that just as you would include your phone number on your business card as a call to action (ie. here is my business card please call me), you need to have a call to action on your website as well. It is not enough to just have your information, or even to have your information and a link to your local MLS where they can search for properties. The goal of your website is to bring you leads, and you need a way to get those leads, you need a call to action - some reason for people to let you know who they are and what they need.

Some key elements of your website (each of which I will discuss more in-depth in future articles) are:
1. A domain (this is what a user would type into their browser to find you. It is also what you would want to include on all of your marketing materials so that people know what to type).
2. Content: What do you put on your website to draw people in and keep them coming back, and most importantly to get them to let you know they are there. This is "putting your phone number on your business card".
3. Promotion: or "Handing out your business card". How do you let people know about your website. For starters, make sure it is on all marketing that you do, from your business cards to your name riders to your print ads.

New Website

Posted at 10:50 AM, Oct. 10, 2007

I have a new website. I've given my website a complete make-over with a new look and lots of great new information. You'll find a lot of great information and reports there on home ownership, buying and selling as well as links to everything you need to know about this area.

Please take a moment and check it out, and don't forget to let me know what you think!
Http://www.HomesOfMadisonCounty.com

Julie

10 Tips for Buying Investment Property

Posted at 1:44 PM, Sep. 14, 2007

Whether you are planning to flip a property or just buying to rent and sell for a profit later, here are some things you will want to consider when choosing the property.

1. Price: If you are purchasing just to rent you can afford to purchase at market value, but it's always a good idea to get any property below market value if you can.  If you are planning to flip a home you should look for  homes that are at least 30 percent below the market value of comparable nearby homes.

2. Location: Choose a location with a low crime rate, good schools, and quiet streets. There isn’t anything you can do to cure a poor location.  To get more information on what your location offers, there are a few things you can do....  talk to the neighbors, call the local police dept and ask about crime rates, call the local pizza delivery and ask if they deliver to the area, check out http://www.greatschools.net for more information about schools.

3. Size: Choose a house with three or four bedrooms. Smaller homes are unlikely to have enough buyer or rental appeal.  Talk to local property managers to find out what homes rent best in your area.  In our area it is typically best to look for 3 bedrooms and at least 1.5 baths.

4. Avoid homes that need major unprofitable repairs, include wiring, major plumbing, foundation repairs, major kitchen and bathroom renovation, room additions, and/or a new room. Make sure that the "bones" of the house are good, and...

5. Spend money on profitable cosmetic improvements where you can make money on things like new flooring, fresh paint, light fixtures, and landscaping.  Talk to a Realtor to find out what buyers and renters in your area are expecting and what you need to do to make the home you are looking at appeal to buyers in your area.

6. Know the area where you are investing (or make sure you have a Realtor that knows the area well); know what is going on and what businesses may be moving in or what may be going on in areas that may affect property values.

7. Don’t buy a fixer-upper that is more than 60 minutes from your current residence because it is important to visit everyday while the renovation work is being done.  if you are doing the work yourself you'll want to make sure the home is even closer, you'll spend enough time at the house you don't need to waste time getting there.

7. If you are looking for a rental property, look for properties that are already rented where the renter may want to stay. This cuts down on your having to find a tenant. If you are buying a fixer-upper make sure that your Realtor writes in a clause that gives you the ability to access the property prior to closing to assess needed repairs and get estimates from professionals.

9. Look for sellers who are motivated to sell and who want to make the sale happen; follow the foreclosure listings in your area, and watch for homes that have been unoccupied and on the market for long periods of time.

10. Understand the foreclosure laws in the area where you are buying. In some areas it is well worth buying a foreclosed home, in other areas it may not be. Talk to a foreclosure attorney in the specific area and make sure you understand the laws.

Article - AL fastest to foreclose

Posted at 8:34 AM, Jul. 30, 2007

This is an interesting article regarding foreclosures and it lists AL as being one of the fastest states to go from the delinquency announcement to actual foreclosure; taking only 30 days to do so.

http://money.cnn.com/2007/07/19/real_estate/foreclosure_by_the_state/index.htm?postversion=2007072313">Read The Article Here

Back Up Your Computer!!!

Posted at 1:24 PM, Jul. 24, 2007

I learned a valuable lesson recently, one that you would have thought I would have learned years ago.  I've been using computers regularly for over 10 years.  In my earliest years of using them I killed them on a regular basis by deleting something I shouldn't have.  Back then, I got used to backing things up pretty regularly. As I got more and more competent with my computer skills I got more and more lazy.  It won't happen to me... you know the syndrom. And it hadn't happened to me in many years.  But, it's happened twice this year.

First, my PC. This wasn't a major loss since most of the work that I did was on my laptop anyway. Really, all I lost when I lost the hard drive on my PC was my Itunes library files (not the music, because that was on a seperate drive, of course).  In the spring I bought a new PC and got that all set up and in the meantime, my laptop started getting slower and slower. The harddrive was full, so I bought a backup drive and I backed everything up and removed everything I didn't need.  This was about 2 months ago.  At the time I thought I might have to totally reformat (and I wish i had done so now), but I didn't. I was somehow able to move things around and re-partition the drives so that I could use my system.  BUT, I knew that that hard drive was having issues and I knew I'd have to replace that machine before too long.  I was hesitant, I really didn't want to replace it. My light little Sony Vaio had been so good to me for the past 3 years, I was really going to hate to see it go.  So, much like your favorite comfy chair I held onto it.  Until one day when it continued to get slower and slower and I decided "I know! I'll defrag it and see if that helps!".  Bright idea Julie!  NOT!  I came home several hours later to find my machine giving me some major error and telling me to reboot. I did and I got the same error.  I tried several times in hopes that I could get things back and it never worked. I searched online for answers, and none were found.  Finally, I pulled out my Windows disk and reloaded it (in hopes that it would just re-install windows and leave everything else alone).  It didn't work out like I planned and I ended up reformating my drive.  I did get it working again.... but I lost everything since that last backup 2 months ago.  And, at that point I knew that I had to get a new laptop.  So, I did.

But, in the process, I have learned a valuable lesson. BACKUP the stuff you need.  Backup your emails, backup your favorites, backup your Outlook files.  Luckily, my laptop and my phone sync my contacts and calendar so that was backed up and really all I lost in the end was email.  I am back up and running now, and I will backup on a regular basis.  Its even set in  my calendar to remind me to do so.

So, let my mistakes be your guide. Go backup your system now. You never know when something might happen.

Let the mistakes I made, save you some trouble

Posted at 1:32 PM, Jun. 25, 2007

June is National Home Ownership Month!

Posted at 12:31 PM, Jun. 12, 2007

Did you know that June is National Home Ownership Month!?

Let's celebrate by sharing our favorite things about home ownership, I'll start.

1. Knowing that it's MINE
2. Knowing that when something needs fixed it's fixed right, because I made sure of it.
3. Knowing that I never have to ask permission to paint my walls.
4. If there's a bug it's MY BUG... ok, it's my fault too but, at least I can get rid of it.
5. I don't like that wall, I think I'll knock it out!
6. Privacy!
7. If I want to move, I don't have to worry about paying early termination fees on my lease... there is NO LEASE!
8. If I want a garden, I can plant one.
9. If I want a pet, I can have one.
10. I'm not throwing money away on someone else's property.

Please feel free to comment with your own thoughts

The Sky is Not Falling

Posted at 12:09 PM, Jun. 12, 2007

Finally, an article that's positive.  It's rather hard when you look across the broad spectrum and all you read and hear is "The Sky is Falling" when it comes to the Real Estate market.  This article explains the obvious - Real Estate fluctuates!  No really it does!  Not only does it constantly fluctuate from market to market but within a market.  For example while the news is constantly talking about the bubble bursting and sales being down, etc, when you look at my market - Huntsville AL and the surrounding areas - that is definately not the case.

In this area we have a few very positive things happening which affect the Real Estate market.

1. BRAC - Huntsville is a military town, we are based around Redstone arsenal and much of our business is military related.  The recent BRAC (Base Realignment and Closures Act) decision that not only decided once again to keep our base open but to bring thousands of new jobs to our base has had a booming affect on our market.  While the numbers are not exactly clear what we do know is that many jobs are coming and that there are more jobs being created than we have people to fill the jobs.   What this means...

2. And Influx of New People - unfortunately many people have a very distorted view of what Alabama is like.  When they come to Huntsville they usually find that their preconceptions were misconceptions and that Alabama (at least this part of it) is nothing like they imagined.  With so many new jobs being created not only through BRAC but through many other businesses moving here (many not related to the military), this means that many new people are moving here, add to that...

3. Low property values, and you've got a great market for housing.  Until recently it made no sense to rent unless you had to and even now if you have decent credit in this area you can buy more of a house than you can rent for the same payment (or less).  It's cheaper to buy than to rent.

4. Low Interest Rates - Despite the fact that they have been going up lately, they are still very low overall, allowing for many people to afford to buy who could not otherwise.

All in all, Huntsville is an awesome market to be in.  If you are considering investing in Real Estate, you may want to take a look at Huntsville Alabama where the property values are still low yet going up and we expect them to continue to rise steadily over the next 4 to 5 years (at least) as so many new jobs move into our area bringing new people with them.

8 Questions to Ask Your Real Estate Agent

Posted at 9:44 PM, May. 27, 2007

I ran across this article geared towards those seeking an agent, and I wanted to address the questions that it tells you to ask.

This article stood out to me because recently I did have someone write an email to me asking me several of these questions, some in a way that I really wasn't sure what they were asking for what they were looking for.  Now I know.

1. How long have you been in the business?
"Pretty much any average person could decide they want to get their license today, and have that license in their mailbox a month later. Because of this, your Real Estate Agent's experience is VERY important. A new Agent will learn a LOT their first year, and will continue to learn more with every transaction. Don't automatically choose against a newer Agent - they typically bring a lot of energy to the transaction, and they will have LOTS of time for you. However, if you do decide to use a newer Agent, make sure they have a great support system behind them."

As of today, May 27 2007, I've been in the business 1 year and 5 months.  I did learn a LOT my first year in the business and I will continue to learn more about this business every day.  Even 10 years from now I will probably encounter issues in this business that I have not encountered previously.  I had a great first year and I see several reasons why that was the case: 1. I did some homework before getting into this business.  The quote above is right it is TOO easy to get a real estate license and because of that many people think that they can just jump in.  However, while it's easy to get your license it's not cheap and most people are not prepared for what they will experience in their first few months nor are they prepared for what they will spend.  Most agents don't last their first year, let alone their first 6 months because they were not prepared.  Only 1 in 5 agents are still standing after their first year.  Prior to getting my license I did a lot of research, I took the time to read MANY books on what to expect and what I needed to know as an agent.  Sadly, most of the other people who surrounded me in my classes were only reading the book they were given to study for the license exam.  The license exam only ensures one thing that you have a basic grasp on terminology and law related to real estate in the state you live in.  It gives you no real information about how to do the job.  There is no business where you can just pass a test and do the job, you have to take the time to learn what you need to know, and while you can learn a lot through on-the-job training, you can learn a lot more if you are prepared for what you will experience during that on-the-job training.

2. Are you a Realtor?
Not all Real Estate Agents are Realtors. Members of the National Association of Realtors have to adhere to a strict code of ethics, or otherwise face having their membership revoked. Also, you must be a member of the National Association of Realtors to have access to the MLS (Multiple Listing Service) which is what gives Realtors access to almost every home for sale in their market area.

In this area (North Alabama - specifically the Huntsville/ Madison County market) ALL agents are Realtors. If you join the local association then you are also joining NAR and to have your license here you must join the local association.  So, YES, I am a Realtor.

3. What certifications do you hold?
There is an "alphabet soup" of advanced certifications that Real Estate Agents can earn. While it doesn't automatically mean that they are a good Agent, it does mean they are serious about their job. Keep an eye out for GRI - this is the most time consuming certification to obtain.

While most agents that you talk to only get the education that is required - typically 15 hours of CE every 2 years - I try to get every bit of education I can possibly find, whether I "need" it or not. I feel that I need and can use any education I can get.  That said, any certification I can get, I will get not because I want the letters but because I hope to learn something from the classes that I take to get that certification.  Some certs require nothing more than classes, while others have base sales requirements along with classes.  I currently hold two designations, e-PRO and ABR, and am working towards my GRI.  As the quote above states it is time consuming and since they only offer the classes for it locally every 2 years, it will probably be another year before I finish it. I took half the required classes when they offered it here a year ago.  I am hoping to travel this fall to take a few more classes and finish the certification up by mid-2008.  I will obtain other certifications as the classes are offered to me and as my sales meet the qualifications.  I expect to obtain the CRS designation by mid-2008, as well.

4. What is your specialty?
Real Estate Agents typically categorize themselves as either "commercial" or "residential" which are vastly different. Even among Residential Real Estate Agents, though, agents will specialize in Buyers, Sellers, or Renters. Some Residential Agents successfully handle Buyers & Sellers, but make sure they come with plenty of satisfied customers. Agents typically cut their teeth working with renters.

I specialize in residential real estate, I especially enjoy working with buyers of any level.

5. Can I have a list of past customers?
Take the time to call a few of an Agent's past customers. Ask for their strengths and weaknesses (and make sure they don't share the Agent's last name.)

I really don't like this question.  While I do have Letters of Recomendation from many of my past clients, I do not feel it is ethical to give out my past clients names and contact information.  It is part of our code of ethics that we provide our clients with loyalty and fiduciary, the same as lawyers and doctors provide to their clients.  I will be happy to provide you with copies of my letters of recomendation, but just as I don't want my phone number and contact info being given out I wouldn't give out yours.

6. Who is your Broker? Can I call him/her?
Real Estate Agencies are moving towards the "mega-brokerage" mentality which means that many Agents today have never met their Broker. If an agent doesn't have their Broker's cell phone number, find out who they will call if they run into questions.

My broker is Larry Perrault and yes please do call him.  I can't even imagine working for a brokerage where I didn't see my broker on a regular basis and where I couldn't walk into his/her office with any question at any time.  That, I am happy to say, is exactly what I have with my broker and that is why I chose them.  When I first got my license I interviewed at over a half dozen brokerages.  Most of them had brokers who were so busy out selling property, how could they possibly be there to help me when I have questions?  That is not the case with Larry, both he and his wife, as well as many of the other agents in my office are always there to help or to answer any question I have.  So, I know that no matter what issues I come up against, they will be there to help me through them.

7. How many sales did you complete last year?
A good agent will complete at least 25 sales per calendar year. You want to make sure that the agent helping you through the largest purchase or sale of your life is a GOOD agent.

I only completed 13 sales last year, however it was my first year in real estate, and that was my goal.  Everything I have read states that the AVERAGE agent does 12 sales a year.... that takes into account a lot of agents who do NONE.  I believe that there are many ways that you judge a good agent, but that it goes to more than just how many transactions they completed. I know many agents who will take any listing just to have listings, guess what? If you take enough listings you will sell more houses, and quite often those sales had nothing to do with how well you did your job.  My goal for year 2 is 24 sales, I don't know if I will meet it simply because I've had a lot of distractions the first half of the yaer (new marriage and all), but I am working towards it.   The most important thing for me is that I give every client my complete attention and if I'm working with more clients than I can handle then there is no way that I can do that. 

8. Is this your full-time job?
It always surprises me how many people are willing to let their office mate down the hall handle the purchase or sale of their home. You need someone who handles real estate transactions full-time, day in and day out, to make sure that your best interests are taken care of.

Yes, this is my full-time job.  There is nothing that annoys me more than trying to work out a sale with an agent who doesn't have time to answer their phone or return phone calls.  We all get busy sometimes, we all have lives outside of our business, but I will tell you that no matter what is going on with me I will find time to return your call and answer your questions.  I do work a pretty standard schedule and I don't work 24/7 but I will be there when you need me.