Build Idaho | 2020 BOISE IDAHO REAL ESTATE BLOG
THE MARKET SUCKS!!! OR DOES IT? Main Builder Developer Services
Contrary to the justified belief of 2005 and 2006, new homes do not sell themselves.

Hey, it was nice while it lasted!  We made a lot of money, thought it would never end, and then...oops!  We kept building and building and then the market tanked and now we are overextended and the bank is breathing down our necks...sound familiar?

I keep hearing about the terrible market, and I have met so many people who are planning to "wait it out".  Wait it out!?  Come on now. This is a great market and let me tell you why. 

Today's market is going to be one which rewards hardworking, knowlegeable industry professionals.  By the way, just being in this industry does not make you one of the above :0)  The cream rises to the top and the "get rich quickers" go on to their next gig.  The rest of us work hard, establish relationships, give the consumer a great product with great service and set up policies and procedures that will benefit us now and when the market "comes back".  

The number one thing that I see lacking in the New Home Sales industry is follow up.  Yeah, Yeah, you heard me right.  This means getting people's names, which open house signs and wide open unattended houses (no matter how "smart" they are today) are unqualified to do.  Using these names to follow up with people, learn a little about them, take an interest in helping them find your product that best meets their needs, knowing the competition, explaining the diffrences between your product and theirs, and really working hard for a sale and more than a sale, a long term relationship that will produce referral sales...this is FOLLOW UP my friends. 

Homes are selling today, are they yours?  Put together some follow up procedures and implement them.  If the homes that are selling aren't yours, with follow up you will have a better chance, or at least find out why they bought something else and modify accordingly.

Knowledge is power.  Give yourself the knowledge of who is looking at your product and why.  What they like and don't like.  What they are looking for, when, and at what price. 

With so many empty, wide open houses to choose from, be present and follow up.  Relationship selling is a lost art and one that must be implemented to count yourself amongst the cream rising to the top.

For more information, contact O2 Marketing Group Builder and Developer Services at [email protected].

Happy Selling!

 
Posted by O2 Marketing at 6/21/2007 10:17:00 PM
Account Login   Account Registration
Comments (7)
Re:THE MARKET SUCKS!!! OR DOES IT?
Alicia,Maybe you should get into coaching sports as well. They always preach learning the fundamentals, even to the pros. One other point, If you are waiting for the market to stabalize before jumping in, prepare to wait a long time. If you do your homework and know what to build, the market is less of a factor. Of course this involves moving from building homes as a trade to operating as a business.
Posted by on 6/21/2007 5:14 PM
Re:THE MARKET SUCKS!!! OR DOES IT?
Preach it sister! Good sales and marketing becomes a premium in an ultra-competitive market. Anyone could market and sell a home two years ago...it's a whole different ballgame now...and the strong will survive, and thrive!
Posted by on 6/21/2007 5:02 PM
Re:THE MARKET SUCKS!!! OR DOES IT?
Blah, blah, blah...
The market sucks and it is so typical to hear the spin...
Remember.."Real Estate NEVER goes down" or "Buy now or be priced out forever"...do yah..
Now its...oh just price right...what about location location location...

Okay here is the formula... start with 2004 price for your place...then look at Boise median income. Is your house 2.5X that income...if its more it better be above average...like a big Mcmansion in eagle...
...then go to RedFin or FSBO or Craigslist and save yourself from all the newbie RE agents out there who will only bleed you with commision...

When the best advice you here is "Price it right" its time to price it yourself and save $20K! So many internet resources...

Dump your agent!
Posted by on 6/22/2007 11:52 PM
Re:THE MARKET SUCKS!!! OR DOES IT?
I am not an agent ancd I am not a fan of agents but not using a 'great' agent is too risky. I think agents are over paid. The risk- reward is not fair to the consumer and you really are gambling when selecting one. How do you know if they are good or not. The other problem is that becoming a realtor is quite simple and too many jumped in making easy money. I think the low cost real estate shops are getting popular because so many are doing their own homework that the value of a realtor has dimished. It takes a realtor just as much to sell a $200K home vs $500k and they carry no risk when making thousands.
Posted by on 6/23/2007 1:06 PM
Re:THE MARKET SUCKS!!! OR DOES IT?
I am a realtor and I think it is really funny that all of these people out there say they don't need a realtor when they could not "sell themselves out of a wet paper bag". I do agree that there are a lot of new realtor and they are in it to make a quick buck, but there are also a lot of realtors that work very hard. I don't know to many jobs that you work 7 days a week and your phone is on all of the time! I think it is great for people to try and sell there house thmeselves, but in a market like this you need the experience and the connectins that a good realtor has.
Posted by on 6/24/2007 11:04 PM
Re:THE MARKET SUCKS!!! OR DOES IT?
This blog was not intended to be a realtor bashing forum, as O2 Marketig Group is a real estate brokerage specializing in new home sales and builder/developer services. My next blog will deal with some of the questions regarding hiring and keeping a good agent asked in some of these comments. I highly disagree with the comments that indicate builders do not need realtors and that FSBO will sell your homes and will go into futher detail.
Posted by O2 Marketing on 6/25/2007 9:29 AM
Re:THE MARKET SUCKS!!! OR DOES IT?
Like any profession, check references and experience of the professional you select. Just because someone can build a home should they? Just cause someone has a Real Estate license, are they uniquely qualified to help you? That is like choosing a doctor solely because they are a doctor without regard to if you needed a Dentist or a Proctologist! If you choose the wrong "professional" you could end up with a bad taste in your mouth.
Posted by on 6/29/2007 4:18 PM
Add Comment
Provide comments on this blog entry. If you have an account with this site please sign in.

 

Michelle Penick, Boise Idaho Real Estate Agent

How may I help you?
Michelle Penick

818.472.1767
[email protected]
Schedule Tour