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XYZ Brokerage

Email: david@xyzbrokerage.com

Phone: (206) 555-1234

Website: www.xyzbrokerage.com

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Don`t believe for one second the business is not out there!

`m the first to tell you the Real Estate market has indeed slowed down from the past.

We used to complete 12-22 transaction per month. We had buyers in 3 conference rooms at one time, we were always busy and it was fun!

The lenders were ready, willing and able to get us a loan approval and closings actually happened on time,the buyers and sellers were happy and at the end of the day we knew we did our job!Working 12-14 hours a day was the norm.Ask anyone if they believed the "Good Times" would end and they would respond NO!

Today, is another time and many of our compadres are out of the business. Some of the biggest "Producers" are gone! Many Real Estate office are closed and forgotten. Hard to believe but true.

I`m always asked how we remain busy in a "Bad Market", it`s hard to tell someone that we work long and hard hours, and we work smart!

Business is still out there for those who know how to find it! Part of our success in this type of market is the fact we continue to follow up with potential buyers and renters which creates a nice "pipeline" of business. The same holds true with our sellers who we speak to every 3-4 days a week to let them know what`s happening in their neighborhood.

We assist other Realtors more than ever before to get the deal done! It doesn`t matter, if we have a transaction we`re going to use our experience and work to get the job done! We`re doing things so differently than we did 5 years ago, but, as i`ve always mentioned in many of our posts "The Real Estate Market Changes Every 6 months!". Our philosophy has changed so much from a year ago it`s hard to believe.

Whether it`s dealing with a renter,investor,buyer or seller, we`re going to make sure that we`re accommodating to them,if it means writing a "Lease Agreement" at 10:00pm on a Saturday night or going to a listing appointment in Coral Springs at 4:30 AM on a Tuesday morning, we`re there!

I know many will tell you that our industry is dried up
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August 08 2007 - US

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Yes, there is still plenty of business out there. Here's what we see from the Lenders perspective, we have a bit broader view than many other Lenders given that we lend in 25 states and generate our leads through a variety of on-line sources:

1) Many home buyers are experiencing a longer selling cycle when trying to sell their existing home which keeps them from closing on a new home.
2) Alt A and subprime programs primarily No Ratio, No Doc, and Stated Income programs greater than 80% LTV are pretty much gone. Six months ago doing a wage earner stated generally wasn't an issue, today it is a different story especially if there middle credit score is less than 660. More programs will disappear in the near future unless there is more liquidity in the subprime and second lien markets.
3) Rates on Jumbo loans have jumped substantially over the past two weeks, especially for loans with alternative documentation or occupancy other than primary residense.

I have always felt like the best benchmark to gauge the housing market is the number of loan apps made since, generally speaking, a borrower will go to a lender first to get pre approved before engaging a Realtor. If you watch that number closely, the glass is still half full.

As far as what you should tell other Realtors in your area what to do to stay busy here's what I have told a couple of Realtors:

1) Align yourself with good producing Mortgage Bankers, we sometimes have the ability to refer deals out,
2) Invest in technology, buy Zillow EZ ads, google ad words, and anything else you can to drive traffic to your website,
3) List as many properties as you can and work the leads you get off of the signs,
4) Get a blackberry or other similiar device so that you can be the first to respond.

As Ted Turner said in an interview several years ago "Late to bed, early to rise, work like hell and advertise!"
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August 09 2007
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Charlie Mader, "chasmader"

San Francisco, USA

Real Estate Agent

View my 1 listings

Contributions: 333
Hi--

If you are honest, work hard and put your client's interests above yours, you will weather the downturn.

CWM
San Francisco
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August 09 2007
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Richard Federico

Clermont, Fl

Real Estate Agent
Contributions: 39
It is truly amazing that we only report and display business cycles quarterly and yearly, then we compare year to year. No, we are not the stock market and those reports are to satisfy stockholders.
When markets like '04-05 come and go, we get back to norms. Checking business here in '02-03 we are on track for gains in sales and prices. I for one am happy that we will get back to normalcy.
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August 09 2007
Right on chasmader!
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August 09 2007
You are right.. it is out there we do have to work a bit harder.. before the phone would ring all the time, now we have to work with the buyer and the seller a bit harder... but I got to tell you in my market of Central New York. (Syracuse) I have been busy.. and so are the other agents with my company... matter of fact there was just a plea from two agents that needed someone to do an open house for this Sunday because they need help. Ok. I know what you are saying.. yea the agents inventory is large.. that maybe so.. but.. buyer are out there.. it is up to us.. to find them..
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August 09 2007
As a newer agents, my husband & I don't know the difference between a great market & bad market. We hear a lot of moaning & groaning about how bad it is, but we are doing great! We actually just won several awards at our mid years sales rally including the Top Sales Agent award for our Las Vegas Summerlin South Office which has 236 agents. No complaints here! We know there is plenty of business for those with a little creativity and a lot of discipline. It's just a matter of going and getting it!
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August 09 2007
Ballens,
Since you don`t know better it`s great! There`s business out there,only many believe it should be handed to them..
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August 10 2007
Wait until the rebound! SW Florida is on sale big time and once you weed
through the new construction, the foreclosures abound! Every agent needs to get in on it. If you don't know how, find out. A Sale is a Sale my friend which means you'll be eating next week.
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August 10 2007
Rich & Lori...good for you. I'm also having a solid year here in central NJ. Even in a down market, my numbers are up 20% from last year, which was a stronger market.

I think the correction is helping my business. We were an office of 65+ agents, now we have 35 - 40, and some of those left are really floundering. All the other offices around us must be in similiar situations. Discount brokers are shrinking even faster - some disappeared! Not only are there less agents to compete with, but it's much easier to protect commissions, especially if you can bring superior value to your clients. Finally, I think the big payoff could come when the market turns around, and it's me who people turn to.
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August 10 2007
real estate runs in a cycle. The shakeout had to happen as did the correction.
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August 13 2007
 

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