No Industry For Old Thinking… By Kim Daugherty

Thought Realignment What you THINK… Influences what you FEEL… Which alters what you DO. SO,… If you want to change what you DO… Modify what you FEEL… By altering what you THINK.

3+ Great Books #1: Borrowing Brilliance: The Six Steps To Business Innovation By: David Kord Murray Idea: Cherry-picking and combining the ideas of others…

3+ Great Books #2: Swim With The Sharks…Without Being Eaten Alive By: Harvey Mackay Lesson #20… The two most important lessons any negotiator can learn… -First, be prepared to say NO. -Second, the most powerful tool in any negotiation is information.

3+ Great Books #3: Getting Things Done…The Art of Stress-Free Productivity By: David Allen Idea: 5 Stages of Mastering Workflow… the last stage (good news/bad news) is: “Do it”.

3+ Great Books + Live and Learn and Pass It On By. H. Jackson Brown Jr.

Facts-Figures & Forecasts

Forecasts NAR:4,910,0005,161,0005.1% Fannie Mae:4,885,0005,410, % Sales Price (median) Fannie Mae:$171,500$159,200 NAR:$174,100$179, % NAR August 2009 Economic Outlook Fannie Mae Housing Forecast: August Estimate 2010 Projection % Change Home sales (existing)

Historical & Projected Sales of Existing Homes (Expressed in Thousands) Source: Fannie Mae

Quote: In today’s massively turbulent economy, the people with business skills and tools, who know how to think, will be the winners. And the people who are relying on the market and past successes to bail them out will get slaughtered. Keith J. Cunningham

What’s Old Thinking…

I’ve mastered this game… …always looking to improve The FOREVER Gold Rush… …changing of the “FEARS” Build it and they will come… … effective and meaningful prospecting and marketing

All eggs in one basket… …Multiple streams of business 80% of success is just showing up… …Skills-Knowledge-Focus I just wing it… …A specific “play book” and plan

Casual Fridays… …Professional package It’s fine…looks fine…priced fine… whatever… …WOW wins! How much did you sell last year (success)?… …Focus on bottom line (net)

From Business Week September 21, 2009 Under Management & Leadership The Six Sigma Black Belts Are Back Everyone from retailers to drugmakers is using the efficiency discipline to squeeze out more savings.

Sure, I’ll meet you wherever & whenever you want… …Buyer Consultation It’s ALL about ME (brag book)… …It’s about what you will do for them Product Dump (also known as “throwing up on them”)… …80/20 (the 80 is first)

Tricks: Telephone Tricks-Open House Tricks- Closing Tricks-Clever Tricks of all kinds… …Non-manipulative steps to goals First Open House… …It happens on-line (P-P) Get them on paper, we’ll fix it later… …Do it right up front

Auto Pilot… …Healthy paranoia (IC) The job interview (they interview you)… …Two way street Flying Solo… …Team

Technology #1…it’s a fad… …hello! Technology #2…it’s the “magic pill”… …Tool to AID the sales process

Social Media Survey You Tube Active Rain Twitter FaceBook Linkedin Real Estate Wiki Broker Agent Social Other

Technology #3…hardware & soft… …Swimsuits-tape-other things that work Financing…five years ago… …today? Appraisals…five years ago?… …today?

Short Sales…five years ago? …Today?

Take Two… The Wacky World of… Appraisals Short Sales

Challenge The Appraisal??? 6+ Key Ingredients 1.Do you have quality data that supports your findings? - Facts -Good Comparables -Other supporting information… …example: back-up offers etc. 2.Did your offer to share your information with the appraiser?

Challenge The Appraisal??? 3. Did you meet the appraiser at the property? 4. What have other agents said about the property? -Price -Staging -Other Comments

Challenge The Appraisal??? 5. Are the appraiser’s reported facts/data accurate? 6. Who is the “right person” to contact to appeal? + Other items/issues to consider…

Form 1004 MC 3 T’s …plus* Transparency… …of market conditions Typical… …what’s typical now???

Form 1004 MC 3 T’s …plus* Trends …local & specific …no long shelf life …support for conclusions *Logical Analysis

Websites to Visit (cost vs. value report 2008) 4. national.aspxwww.remodeling.hw.net/2008/costvsvalue/ national.aspx

Short Sales Top 6 Reason Short Sales Do Not Close 6. You don’t call the bank periodically for updates, you rely on them calling you. 5. You don’t bother to lower the price periodically.

Short Sales 4. You don’t submit an offer you feel is too low. 3. You don’t check this property’s status and the bank forecloses. 2. Poor communication with the buyers/buyers agent and they walk. 1. Your short sale package is incomplete.

Short Sales Short Sale Checklist of Necessary Paperwork 17+ items…

“A” Game… What’s One Look Like??? Starting October 1 Real Estate Checklists.com Rapid Fire 3-5…two minute drills

The CORE…Simple, But NOT Easy Relationships Rule… …Stay close to people in ways that are meaningful to THEM Rabbit Check… …Is it really a rabbit???

The CORE…Simple, But NOT Easy Skills: – Prospecting & Marketing – Listening – Communication/Education – Negotiations – Prioritizing – Execution

The CORE…Simple, But NOT Easy Knowledge – Your Market – Current Realities Financing Appraisal RESPA Etc.

The CORE…Simple, But NOT Easy Positive Attitude P.S. Keep the “main thing” the main thing!!!