CRISIS?

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CRISIS?
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C.R.I.S.I.S

• A Circumstance Requiring
• Immediate
• Shift In Strategy!

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The Market Has Shifted Dramatically

• Sales volume and transactions have dropped
  drastically.
• Inventory has reached a breathtaking high.
• Buyers continue to be reluctant, and sellers
  continue to be unrealistic.
• Real estate agents seem dazed and confused.
• Brokerage net profits are going red.
• Fear is rampant, anxiety is high, and people are
  getting out of the business right and left.

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So, What Happened?
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People

• Over spent and under saved
• Over borrowed and over paid

And too many got in over their head.
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Now theyll

• Under spend and over save
• Under borrow and under pay

And the economy will begin to move back into
alignment.
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We Are in the Midst of One Major Shift!

• You shouldnt be surprised.
• Economic history repeats itself. Thats why its
  called an economic cycle.
• Whats happening today has happened before. The
  economy is in one of the down parts of its
  cycle.
• You may have thought wed either cured economic
  down cycles or you would escape the planet before
  another big one hit.

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So, the Economy Shifts and Therefore Real Estate
Markets Shift

• They always have and always will
• and
• Your life goes on
• Your business and career can too ...

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IF YOU DO THE RIGHT THINGS!
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The next 180 days may be the toughest economic
days youll see for the rest of your life!
But you better step it up!
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No Kidding House on Fire!
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To Shift or Be Shifted That Is the Challenge We
All Face Professionally Right Now!
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The Numbers That Drive Real Estate

1. Home Sales
2. Home Prices
3. Inventory
4. Mortgage Rates
5. Affordability

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Home Sales In Millions

• Sales declined 13 in 2008.
• The number of first-time home buyers increased to
  41 of home purchasers.

Source National Association of REALTORS
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In the fourth quarter of 2008, 6 states saw an
increase in sales, mainly in areas where the
sharpest declines in prices occurred.
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Home Prices In Thousands

• The median home price declined by 9 in 2008.

199K
20-year historical appreciation rate 4
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Home Price Annual Appreciation
20-year historical appreciation rate 4
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Inventory Months Supply of months it would
take to sell all the homes on the market at the
current rate of sales

• Slowing sales pushed up inventory for existing
  homes to 10.4 months in 2008.

Source National Association of REALTORS
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Mortgage Rates 30-Year Fixed
Mortgage rates remained low for most of 2008 at
around 6. Mortgage rates ended the year at
5.1, an all-time low since Freddie Mac started
its mortgage survey in 1971.
Source Freddie Mac
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Lets put this in perspective

• In 1971

Gasoline 40 cents a gallon
Stamp 8 cents
Turkey 43 cents a pound
Datsun Sports Coup 1,866
Monthly Rent 150
Average New Home Price 25,250
Dow Jones Average 890
And you still couldnt get a mortgage as cheap as
you could in December 2008. Mortgage Rate in
1971 7.48
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Housing Affordability of Income of a median
familys income required to make mortgage
payments on a median-priced home
Source National Association of REALTORS
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The Numbers That Drive Real Estate

1. Home Sales
2. Home Prices
3. Inventory
4. Mortgage Rates
5. Affordability

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Home Sales In Thousands
Sales fell 17 in 2008 (back to 2003 levels).
Source Conference Board/CREA
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Home Prices In Thousands
The national average home price decreased by 1
in 2008.
20-year historical appreciation rate 4
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Home Prices 7 out of 12 provinces saw an increase
in prices in December.
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Home Price Appreciation
20-year historical appreciation rate 4
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Inventory Sales to Listings Ratio
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Mortgage Rates 5-Year Fixed

• Mortgage rates remained steady in 2008 at around
  7.1.
• In December, rates declined to 6.75.

Source Bank of Canada
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Affordability of IncomeProportion of median
pretax household income required to service the
cost of mortgage payments (principal, interest,
property taxes, and utilities)

• Canadians have been feeling the impact of high
  ownership costs as they experienced deteriorating
  affordability over the past few years.
• Affordability finally improved by an average of
  1.1 in the third quarter of 2008.
• Similar to trends seen in the U.S., the steepest
  market correction is occurring in provinces that
  were least affordable, such as British Columbia
  and Alberta.

Property Type Q2 2008 Q3 2008 Change
Detached bungalow 47 46 -1
Standard two-story 53 52 -1
Standard townhouse 38 37 -1
Standard condo 32 31 -1
Average Change Average Change Average Change -1
Source Royal Bank of Canada
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Economic Snapshot

1. Gross Domestic Product
2. Inflation
3. Unemployment

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1. Gross Domestic Product

• The economy contracted by 3.8 in the fourth
  quarter of 2008 primarily due to weak consumer
  and investment spending.
• The National Bureau of Economic Research
  announced that the U.S. has been in a recession
  since December 2007 due to the deterioration in
  the labor markets.

Source Bureau of Economic Analysis
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1. Gross Domestic Product Annual Year-to-Year
Growth
Despite the contraction in the last two
quarters, the overall economy grew by 1.3 for
2008.
Source Bureau of Economic Analysis
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2. Inflation
Inflation averaged around 3.8 in 2008.
Source Bureau of Labor Statistics
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2. Inflation Jan - Dec 2008

• Toward the end of the year, there were signs of
  potential deflation (a downward spiral of prices,
  earnings, and economic activity) in the economy
  as inflation ended at 0.1 in December.
• This was a significant departure from the peak of
  5.6 in July.

Source Bureau of Labor Statistics
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3. Unemployment

• Unemployment increased to an average of 5.8 in
  2008 from 4.6 in 2007.
• Unemployment rose to 7.2 in the final month of
  the year.

Source Bureau of Labor Statistics
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Canada
The economy slipped into recession in November
2008, almost an entire year later than the U.S.
Historically, the lag between the U.S. and Canada
is usually shorter, giving some glimmers of
resiliency in the Canadian economy. The weakening
economy and declining commodity prices continue
to place downward pressures on inflation.
Unemployment increased 0.8 percentage points to
6.6 in December from the record low of 5.8 in
early 2008. Most of the increase occurred toward
the end of the year and was largely driven by a
drop in construction.
Metrics
1. Real GDP (2008 estimate) 1.8
2. Inflation Rate (Dec) 2.4
3. Unemployment Rate (Dec) 6.6
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The Events That Drive the U.S. Numbers

• An increase in foreclosures and short sales
  continued to drive home price declines
• More banks tightened their lending standards
• The number of first-time home buyers bounced back
• Bank failures and mergers increased
• Government rescue became commonplace
• The competitive landscape redefined
• The available sides per agent fell further
• Commission rates rose
• Economic activity follows demographic trend

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1. An increase in foreclosures and short sales
continued to drive home price declines

• 1 in 54 housing units received at least one
  foreclosure filing in 2008.
• Total number of filings 3.2 Million
• So far, foreclosure prevention programs have not
  been successful in slowing foreclosure rates.
• Approximately 420K hybrid ARMs are scheduled to
  reset in 2009.

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Top Foreclosure States of homes that received
foreclosure notices
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2. More banks tightened their lending standards
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3. The number of first-time home buyers bounced
back

• Historically low interest rates and decreasing
  home prices continually contributed to positive
  affordability conditions.
• According to Global Insight, housing prices were
  3.8 undervalued based on total market value in
  the third quarter last year.
• The market share of first-time home buyers rose
  to 41 in 2008.

Percent of First-time Home Buyers
Source National Association of Realtors
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4. Bank failures and mergers increased
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Here were a few key acquisitions
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5. Government rescue became commonplace
Feb 13 Economic Stimulus Act of 2008 Tax rebates (stimulus checks)
July 30 Housing and Economic Recovery Act of 2008 7,500 tax credit for first-time home buyers
July 30 Housing and Economic Recovery Act of 2008 Change in loan limits for FHA, VA, and Government Sponsored Enterprises (GSE)
July 30 Housing and Economic Recovery Act of 2008 Hope for Homeowners FHA foreclosure rescue
July 30 Housing and Economic Recovery Act of 2008 Additional property tax deduction
July 30 Housing and Economic Recovery Act of 2008 Moratorium on risk-based pricing for FHA loans
July 30 Housing and Economic Recovery Act of 2008 End of seller-funded down payment assistance
Note Not a complete list of provisions
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5. Government rescue became commonplace
Sept. 7 Fannie and Freddie placed under government conservatorship
Sept. 16 Insurance giant AIG received 85 billion
Sept. 18 Federal Reserve pumped 180 billion into money markets to combat seizing up of lending between banks
Oct. 3 Emergency Economic Stabilization Act Plan to purchase up to 700 billion in mortgage-related assets
Nov. 25 New plan unveiled to pump 800 billion into financial system to unfreeze consumer credit
Dec. 16 Federal Reserve cuts short-term lending rate to near zero
Dec 29 Treasury announced plan to give 6 billion infusion to GMAC
Note Not a complete list of rescue efforts
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6. The competitive landscape redefined
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6. Competitive landscape redefined
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7. The available sides per agent fell further

• Despite a 10 contraction in NAR membership, the
  real estate industry continues to become
  increasingly competitive.

Source National Association of Realtors
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NAR Members vs. Annual Sales
2008 NAR Members 1.2 Million Annual Sales 4.9
Million
NAR Membership (in Millions)
Existing Home Sales (in Millions)
Source National Association of Realtors
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8. Commission rates rose

• Commission rates in 2008 increased to 5.3, the
  highest level in 7 years.
• Rates increased slightly more on the buyer side
  than the seller side.
• Buyer side 2.8
• Seller side 2.5
• The median commission amount per transaction
  decreased by approximately 5 on the seller side
  and 4 on the buyer side due to declining home
  prices.

Source Keller Williams Commission Study
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9. Economic activity follows demographic trend

• Spending by Age Group
• The age group with the biggest spending power is
  the 45 to 54 year olds.

Source The Great Bust Ahead
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9. Economic activity follows demographic trend
82 years of tight correlation from 1920 to 2002
of the number of 45 to 54 year olds with the Dow
Jones Industrial Average ups and downs (economy
booms and busts) cannot possibly be a mere
82-year coincidence. -- Daniel A. Arnold, The
Great Bust Ahead
Source The Great Bust Ahead
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The Events That Drive the Canadian Numbers

• The Central Bank cut interest rates 6 times in
  2008
• Commodity prices and Canadian currency decline
  sharply
• Restrictions tighten for government-backed
  mortgages
• Parliament suspended
• Available sides per agent fell

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1. The Central Bank cut interest rates 6 times in
2008

• The Bank of Canada lowered the overnight interest
  rates to mitigate downward pressures on the
  economy and stabilize the financial system.
• While rate cuts caused mortgage rates to fall,
  banks failed to match the rate cut for the first
  time in a decade on October 8 due to tightened
  credit conditions.
• Despite the credit squeeze, mortgage lending to
  households actually increased 12 in December.

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2. Commodity prices and Canadian currency decline
sharply

• Commodity prices rose significantly from 2002 to
  mid-2008.
• Higher prices for energy, agricultural products,
  metals, and minerals were important drivers of
  domestic demand and were an important wealth
  contributor to the general population.
• Decreasing global demand led to a significant
  decline in commodity prices over the second half
  of 2008, which ultimately led to weakening of the
  Canadian loonie.

2007 C1 1.01USD
2008 C1 0.83 USD
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3. Restrictions tighten for government backed
mortgages

• Stricter guidelines were implemented to support
  stability in mortgage markets.

Requirements Before Oct. 15, 2008 After Oct. 15, 2008
1. Maximum Term Limit 40 years 35 years
2. Minimum Down Payment 0 5
3. Minimum Credit Score No set standard 620
4. Maximum Total Debt Service Ratio No set standard 45
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4. Parliament suspended

• Prime Minister Stephen Harper suspended
  Parliament after facing a vote of no confidence.
• Why? In the face of an increasingly troubled
  economy, the Conservative partys 2009 budget
  (presented towards the end of the year) did not
  include economic stimulus measures.
• The three very different opposition parties came
  together in an effort to form a coalition
  government.
• With Parliament suspended, a vote on the
  coalition government could not occur.

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5. Available sides per agent fell

• In 2008, home sales fell 17 but CREA membership
  increased 4. Available sides per agent fell to
  8.9 transactions.

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CREA Members vs. Annual Sales
2008 CREA Members 97K Annual Sales 434K
CREA Members (In Thousands)
Home Sales (In Thousands)
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The Story Behind THE STORY

• The Incredible Global Pool of Money
• In 2000, it was 36 trillion.
• In October 2008, it doubled to 72 trillion!

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A Simple Way to Look at It
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What the Governments Are Doing

• Both the U.S. and Canada have implemented
  stimulus packages to help the ailing economies.

• U.S.
• American Recovery and Reinvestment Act of 2009
• Homeowner Affordability and Stability Plan
• Canada
• Stimulus package included in 2009 budget

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U.S.1. American Recovery and Reinvestment Act of
2009

• 780 billion economic stimulus package was
  signed on February 17.

35 in tax cuts
65 in spending over the next 2 years
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American Recovery and Reinvestment Act of
2009Six Key Housing-Related Provisions

• First-Time Home Buyer Tax Credit
• FHA, Fannie Mae, and Freddie Mac Loan Limits
• Neighborhood Stabilization
• Commercial Real Estate
• Energy Efficient Housing Tax Credits and Grants
• Rural Housing Service

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American Recovery and Reinvestment Act of
2009Six Key Housing-Related Provisions
1. First-time Home Buyer Tax Credit
Key Changes
2008 Credit 2009 Credit
Credit Amount Maximum of 7,500 Maximum of 8,000
Effective Date Purchases between Apr. 9, 2008 to July 1, 2009 Purchases between Jan. 1 to Dec. 1, 2009
Repayment Yes (over 15 years) No
Recapture If home sold before 15 years, outstanding balance is captured at sale. If home is sold within 3 years of purchase, entire credit is recaptured at sale.
Revenue Bond Financing No credit if home is financed with state/local bond funding Buyers who use revenue bond financing are eligible for credit.
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American Recovery and Reinvestment Act of
2009Six Key Housing-Related Provisions

• FHA, Fannie Mae, and Freddie Mac Loan Limits
• Extends expiration date of 2008 conforming loan
  limits to December 31, 2009
• Neighborhood Stabilization
• 2 billion in grants to address the problems that
  arise when whole neighborhoods are engulfed by
  foreclosures
• Funds can be used to purchase, manage, repair,
  and resell foreclosed and abandoned properties.

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American Recovery and Reinvestment Act of
2009Six Key Housing-Related Provisions

• Commercial Real Estate
• Funds for state energy programs to support
  commercial property owners investment in energy
  efficiency upgrades
• Potential tax relief for small business owners
• Bonus depreciation and capital expenditures
• 5-year carryback of net operating losses
• Energy Efficient Housing Tax Credits and Grants
• Homeowners will be able to claim a 30 tax credit
  for purchases of new furnaces, windows, and
  insulation through 2010.

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American Recovery and Reinvestment Act of
2009Six Key Housing-Related Provisions

• Rural Housing Service
• 500 million for existing USDA Rural Housing
  programs
• Expectations that financing would be available to
  fund an additional 192,000 homeowners

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U.S.2. Homeowner Affordability and Stability Plan

• Overview
• On February 18, 2009, President Obama announced
  his Homeowner Affordability and Stability Plan
  designed to help approximately 7 to 9 million
  families avoid foreclosure by refinancing or
  restructuring their mortgages.
• Some of the measures will require Congressional
  approval prior to implementation.

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Homeowner Affordability and Stability PlanThree
Key Elements

• Refinancing option for loans guaranteed by Fannie
  Mae and Freddie Mac to help make mortgages more
  affordable.
• 75 billion homeowner stability initiative to
  assist up to 3 to 4 million at-risk homeowners.
• Support of low mortgage rates by strengthening
  confidence in Fannie Mae and Freddie Mac.

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CanadaStimulus package included in 2009 budget

• Overview
• 40 billion stimulus package over the next two
  years was approved on February 2, 2009.
• Similar to the U.S., three-quarters was allocated
  toward new spending.
• Key areas
• Spending on infrastructure investments,
  communities, skills, and work-transition
  strategies
• Tax relief for individuals, households, and
  businesses
• To restore liquidity to credit markets, 125
  billion was allocated to help businesses and
  households access new loans.

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Canadian Stimulus PackageFive Key
Housing-Related Provisions

• Home buyer tax relief
• First-time home buyers to receive 750
• Increase in withdrawal limits from retirement
  savings plans
• Withdrawal limits for Registered Retirement
  Savings Plan (RRSP) to increase from 20,000 to
  25,000 for first-time home buyers
• Home Renovation Tax Credit
• Up to 1,350 in tax relief to reduce the cost of
  renovations
• Renovations must be between 1,000 and 10,000
  and occur between January 27, 2009 and February
  1, 2010.

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Canadian Stimulus PackageFive Key
Housing-Related Provisions

• ecoENERGY Retrofit program
• Funds to support home energy efficiency retrofits
• Social housing investments
• Construction for low-income seniors, persons with
  disabilities
• New social housing units
• Renovations, energy retrofits, and additional
  support for existing social housing units

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The 4 Keys to Housing Recovery
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The Six Fundamental Secrets of Success in a Shift

1. Get Real and Get Right Right Now!
2. Re-Margin Your Personal and Professional Life
   Right Now!
3. Focus on Lead Generation and Conversion Right
   Now!
4. Get Sellers to Price Ahead of the Market and
   Stage Their Homes Right Now!
5. Help Buyers Find Their Motivation Right Now!
6. Get Involved in Short Sales, REOs and
   Foreclosures Right Now!

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First, Get Real, Get Right! Right Now!
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GET REAL!

• Today, the next 180 days, will be the most
  critical period in your career! Period!
• If you get real and get it right You catapult!
• If you dont get real and get it wrong You get
  laid off!

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GET REAL!

• Youve been living through the era of average and
  now youre living in the ERA OF EXTRA.
• Average effort may have done fine in the past
• But not in the ERA OF EXTRA!
• Average is now being laid off!
• 100,000 in Auto Industry! And climbing!
• 150,000 in Real Estate Industry! And counting

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The Bar of the Past!
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The Bar Has Now Been Raised!
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GET REAL!

• Look at it this way
• Both your swing and the size of the field youre
  playing in matter! A swing in one size of the
  field knocks a home run, while in another size of
  field it could be a popfly to the infield.
• A swing in one field may not cut it in another!

Effort Matters Today More Than Ever!
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GET REAL!

• This is your best opportunity for the biggest
• professional DEFINING MOMENT in your life!

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GET REAL! WHY?

1. You will never see a worse economic crisis in
   your lifetime than right now!
2. Great success is always launched by great
   motivation and momentum!

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GET REAL!

• Truth
• Little effort becomes a habit and leads to little
  results.
• Big effort becomes a habit and leads to big
  results.
• So choose the RESULTS you want
• Then choose the EFFORT.

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GET REAL!
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Now That Youve Gotten Real ...

• You Must Get Right!

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GET RIGHT!

• Truth
• When youre doing the right things professionally
  ...
• the right amount of success and money will come
  to you.
• This truth is how you know when YOURE doing the
  right things and when YOURE NOT.

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GET RIGHT!

• If the success and money arent there then you
  may be in the right area professionally for you,
  but youre still not doing the right things. Its
  a simple truth that should set you free.
• The GET RIGHT question
• There is a reason why I dont have the
  professional success and money I desire, what is
  it?
• The answer should inform your IMMEDIATE ACTIONS!

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GET RIGHT!

• If this is going to be your DEFINING MOMENT,
• youll need to do 3 things

1. Focus Only on What Matters
2. Be Willing to Do Whatever It Takes
3. Bring Intensity (Hint Extra Effort)

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GET RIGHT!

• The Six Core Real Estate Agent Competencies
• Lead generate, capture, and convert to
  appointments
• Present to buyers and sellers and get agreements
• Show buyers and market sellers
• Write and negotiate contracts
• Coordinate the sale to closing
• Manage the money

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Second, You Must Re-Margin Your Personal and
Professional Expenses Right Now!
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WAKE-UP!

• Youre now living in the Extra Effort with
  High Intensity Low Overhead Era!
• DO YOU GET THIS?

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WAKE-UP!

• Youre now living in a period in history where
  this simple truth rules above all others
• The Business with the Lowest Costs Wins!

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The Re-Margin Two-Step

• First, you cut your personal expenses!
• To the bone! Now!
• Second, you cut your business expenses!
• To the bone! Now!
• GET IT?

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Re-Margin

• First, Personal Expenses
• You cant let society or the media tell you what
  your personal life should be.
• When the market shifts like it is right now you
  follow the must be rule.
• You downsize and you do it fast. You get your
  personal expenses where they must be in order
  for you to survive. (No kidding!)

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Re-Margin

• Second, Professional Expenses
• When markets shift, the first absolute for any
  business is to re-expense itself. Immediately!
• Revenuing your way out of a shift is iffy at
  best.
• Generating more income may be impossible in the
  short run and take too much time in the long run.
• Now is the required speed when a shift occurs.
• Get your business overhead lower - now!
• The Must Be rule applies here as well!

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• Name a business that has been ruined by
  downsizing. I cant name one. Name a company that
  has been ruined by bloat. I can name dozens.
• Charlie Munger
• Warren Buffett Speaks

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Re-Margin

• You must lower your costs now. And revisit this
  every month!
• Remember, to generate revenue, you generate leads
  to make a profit, you manage expenses.
• The profit you seek will always be made in the
  way you manage your money.
• When the market shifts, you must create a budget
  that matches your revenue.
• We call this re-margining your business.

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Third, Focus on Lead Generation and Lead
Conversion! Right Now!
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You Must Lead Generate.

• Think of it this way, if you dont have an able,
  ready and willing buyer or seller right now
  Youre not in business.
• Hint If a real estate office doesnt have enough
  able, ready and willing to lead generate real
  estate agents theyre not in business.
• And get this -
• Passive doesnt work well in a shift!
• Aggressive extra effort with intensity will!

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Lead Generation
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Lead Generation

• So, unless you get a disproportionate and unfair
  share of the available number of leads (and if
  youre a company a disproportionate and unfair
  share of able, ready and willing to lead generate
  agents) youre going to be very very unhappy
  with your income!
• Wake Up and Get Real!
• There Is No Longer Enough to Go Around!

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Lead Generation

• The market shift may have now exposed a real
  personal dilemma you must overcome

You love helping people. But you havent yet
learned to love hunting for them.
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The Two Ms of Lead Generation
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The Two Ms of Lead Generation
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Taking Open Houses Beyond the Basics
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Taking Open Houses Beyond the Basics
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Taking Open Houses Beyond the Basics
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Taking Open Houses Beyond the Basics
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Taking Open Houses Beyond the Basics
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Taking Open Houses Beyond the Basics
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Taking Open Houses Beyond the Basics
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Didnt You Get it? It is the Era of Extra
Effort!

• Some agents just stick a sign in the yard and
  call it lead generation.
• Others go six steps beyond this and call it lead
  generation.
• The big question is
• What do YOU call lead generation?

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Lead Generation

• To make Extra Effort happen every day, you must
  subscribe to one simple belief
• Dealing with current business never takes
  precedence over finding new business. Never!
  Ever!
• You must adopt the position that until your lead
  generation is done every day, nothing else should
  get done. All else is a distraction!

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Time Blocking

• To ensure your lead generation is always your
  number one priority you must acquire the
  discipline of time blocking.
• Time blocking is setting aside daily blocks of
  time to execute your most important business
  priorities.

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Time Blocking

• Think of it as making appointments with yourself.
• Once done, you must protect that time against any
  and all distractions.

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Time Blocking for Success
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
7 830 to 1130am Lead Generation 8 830 to 1130am Lead Generation 9 830 to 1130am Lead Generation 10 830 to 1130am Lead Generation 11 830 to 1130am Lead Generation 12 1000 to 200pm Lead Generation 13 1200 to 500pm Lead Generation
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When Someone Shows Intent, You Must Immediately
Convert it Into an Appointment.

• The ultimate success of your lead generating is
  directly dependent on your lead conversion to an
  appointment ability.
• One cant work without the other.
• Many agents spend significant amounts of time and
  money on their lead production proficiency but
  neglect their conversion competence.
• Get Appointments!

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Get Appointments!

• Lead conversion is a scripts and dialogues based
  skill. To master it you must practice it.
• Your secret weapon Time on the task overtime.
• Truth Talent is Overrated!
• Practice with accountability to improve
  beats talent over time!

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Fourth, You Must Get Your Sellers to Price Ahead
of the Market and Stage Their Home Competitively.
Right Now!
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The Only Way to View Pricing and Staging
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Staging Study

• A review of over 2,800 properties in eight cities
• found that staged homes, on average, sold in
  half
• the time that non-staged homes did. The sellers
  with
• staged homes ended up with 6.3 percent more than
• their asking price, on average.
• From an October 2006, USA Today article which
  cites a Coldwell
• Banker Residential Brokerage report

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Staging Study Homes Previously on the Market
Source RESA
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Fifth, You Must Help Buyers Find Their
Motivation. Right Now!
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The Two Main Ways to Energize Buyer Urgency

1. Become the Local Economist of Choice
2. Address Buyer Reluctance

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Five Strategies to Overcome Buyer Reluctance

1. Dont Wait The Hazards of Timing the Market
2. Trade Up The Opportunity of a Down Market
3. Less Is More Narrow the Field
4. Provide Best Buys
5. Help Them Tap into Their Why

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Sixth, Get Involved in the Market of the Moment
Short Sales, REOs and Foreclosures! Right Now!
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The Big Three

• SHORT SALES
• Individuals or families willing to avoid
  foreclosure.
• REOs
• Financial institutions with an above average
  number of foreclosures to sell.
• FORECLOSURES
• Bargain hunters and investors

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Never Give Up Never Surrender!