Archive for the 'Self Promotion' Category
It’s Time to Make Our Real Estate Resolutions | Quality Brokerage, Statistical Reporting and Direct Foreclosure Search
categories: Alpharetta Real Estate, Announcements, Cherokee County, Miscellaneous, Self Promotion, Stuff I like to talk about
ALPHARETTA - This is the time of the year when we are resolving to make the coming year better than the past year.
No industry is more in need of improvement than the real estate industry (including the auto industry), both in terms of overall market conditions and in the way the industry functions (or dysfunctions depending on your perspective).
The big, national brokerage franchise is one of the elements of the real estate industry that I believe needs revamping and may be headed the way of WaMu, Bear Stearns and the Tyrannosaurus Rex. That is why earlier this year, I resolved to ditch the franchise model for the boutique model. The good news is now at the end of the year I have one less resolution to make and less change to make in the new year.
The currency of large brokerages is agents: Agents bring in the listings and buyers and earn the commissions that keep the lights on. What’s happening is that brokerages are losing their currency as agents drop out of the industry because they are not making any sales. And those agents who are still making a living are looking for more bang for the commission split dollar - or a lower commission split altogether. I’ve written before on this blog about the lack of real value a large brokerage provides to an agent who can already generate business.
Brokerage currency is dwindling. In 2008, the Cherokee Association of Realtors, of which I am a member, lost almost 35% of its members. I’ve heard it rumored that the Atlanta Board of Realtors has lost a similar amount as I’m sure other local boards have, too.
So why, then, do I sound almost happy about this?
First of all, I believe in the survival of the fittest (which is also why I try to stay fit!). The market conditions have forced some much needed fat trimming in the agent ranks. However, the real source of my happiness - and it is relief more than happiness - is that I’m not on a sinking brokerage ship any more. My new local broker, Maxsell Real Estate , is riding high in the water, which I attribute largely to embracing technology to run our business more efficiently, to having aggressive, fair compensation plans for agents, but mostly to understanding how to add value to an individual agent’s business.
In 2008, when the numbers for almost all Atlanta real estate brokerages where heading south, Maxsell’s numbers actually improved. We had 184% growth in the number of transactions over 2007 and there was 120% growth in the dollar volume of transactions.
We added, yes added, agents during 2008 (I’m an example of that) and ended the year with 40% more agents when most brokerages where losing agents. Our gross commission income was up 15% over last year. These statistics left Maxsell as the #8 brokerage in our sub-market, ahead of companies you may have heard of like Re-Max and Jenny Pruitt, and we are a small company!
While it is a relief to me to be affiliated with Maxsell, it should also give you comfort and confidence that Warmath Real Estate is part of a team that is figuring out how to survive and thrive in a real estate industry that is rapidly changing.
One of our strengths and one way we have continued to succeed in this market is our web presence including this blog. While my first resolution of putting our business on a sound brokerage foundation is complete, there are many resolutions I have about continuing to build and improve this website.
Real Estate Intelligence Portal
I actually wished to have most of this complete by the end of this year, but things always seem to take longer than expected. None the less, advances you will see in the coming month or so are a Real Estate Intelligence portal for Atlanta Real Estate reporting and statistics. What this means for consumers is that you will be able to come to this site and see updated, current reports and graphs of local market statistics, but more excitingly, be able to generate your own report and slice and dice the data based on ways that are meaningful to you.
Direct Foreclosure Search for Alpharetta and Atlanta
The second major improvement I’m resolved to for 2009 is the unveiling of our foreclosure search feature. It is currently not possible for a consumer to search online for foreclosures, shortsales and corporate owned properties as listed in the MLS. Agents can do it, but consumers can’t. The closest thing to it is something like RealtyTrac, a subscription service which is not pulling data from the MLS but rather cross-referencing various public sources of data including tax records. I plan to fix all that and allow you to directly search for foreclosures from the MLS. That’s what you want, right?
So, stay tuned as we step into 2009. We don’t fear the future, we create the future right here on this website!
We look forward to serving you in the coming year and being here when you need us. Happy New Year! Let the opportunities flow!
Posted by Kevin Warmath | Currently 1 Comment »
A Realtor Recommendation Goes a Long Way, Particularly When It Is Unsolicited
categories: Self Promotion
A couple of weeks ago, I made the jump from Big National Brokerage to Small National Brokerage. To date, I don’t regret my decision at all.
As time passes, I may come to view this decision as I do the one I made to get lasik surgery: just wish I hadn’t waited so long to do it.
The move has been good for all the reasons mentioned by my new broker, Brad Nix at Maxsell Real Estate, in this post on Agent Genius. Small is indeed the new "big."
However, it is the intangibles that I have already received from my new broker that are really adding up. Take for instance this little surprise I received the other day.
Unbeknownst to me, my new broker wrote a recommendation for me on my LinkedIn profile. I didn’t ask him to do this; I didn’t coach him on what to write; I didn’t make a subtle hint in a late night email. Heck, I don’t even make it a practice to harvest or request recommendations on LinkedIn like some people do.
That is why his doing it was even more noteworthy. I’ll tell you what: There isn’t a broker in a major national brokerage in Atlanta who would ever have thought about doing that, let alone have a LinkedIn profile.
What Brad gave me was credibility and he did it in a public forum that has high online respect and visibility. For that gift, thank you, Brad. By doing this, you’ve once again demonstrated that YOU "get it" and understand that modern real estate is practiced online. You further convinced me that "small is the new big" because you do things like this.
Pardon me for self aggrandizement (I’ve actually recently had clients tell me they want more testimonials and recommendations on this website, which I will be adding), but here is what Brad had to say about yours truly:
“Kevin is one of the few ‘get it’ guys in real estate today. He understands
client service and commitment to excellence. Yet, he goes beyond these cliches
and constantly works to make himself better. Kevin uses the leading edge
technologies available to Realtors and never settles. He constantly pushes for
more innovation and better service to his clients. I am honored for Kevin
choosing Maxsell Real Estate as his broker partner and can’t wait to see what he
comes up with next. His clients and competition are certain to be impressed.”Brad Nix, Managing Broker/Principal, Maxsell Real Estate
managed Kevin indirectly at Warmath Real Estate
By the way, Brad, I can’t wait to see what I come up with next, either ;->. Stay tuned later today for some updated CRCT scores for 2008 that I’ve uploaded and linked to real estate for sale by school district, something that is surprisingly hard to find online for some reason.
I’ve been a LinkedIn user since its early days back in 2004 and use it regularly to keep track of people from former employers, schools and projects. I enjoy getting that update email from LinkedIn briefly telling me who has changed jobs or who is now connected to whom. What I haven’t done a good job of doing is linking with all my current and past clients.
So here goes…call to action…if you are an active or past client of Warmath Real Estate and you are using LinkedIn, please invite me to your network and I’ll reciprocate. It is just another way that we can stay in touch, keep track of each other and use the tools of social medial to our advantage. People are naturally more comfortable doing business with people they know and trust or who are referred by someone they care about.
I was wondering if your best friend was going to buy or sell a home. Do you know
an agent that you would feel comfortable introducing them to? I would love to be
the person you feel comfortable introducing your friends to who need cutting
edge real estate advice. Click on my linked-in profile and let me know what
would have to happen, right now, for us to make that a reality
Posted by Kevin Warmath | Currently 3 Comments »
Small and Techy Trumps National and Expensive | Warmath Real Estate Forms Relationship with Maxsell Real Estate
categories: Announcements, Self Promotion
We’ve been mulling it over for months now and discussing it online to get your perspective. The question: Which is more relevant in today’s web2.0 real estate world, a large national broker or a small local broker?
At Bloodhound Blog , we tossed around the idea of what the role of a broker could and should be in today’s real estate world … at Maxsell Real Estate Brad Nix discussed the merits of a large broker versus a small one … on this blog , I asked if it mattered to you - my clients, prospective clients and colleagues - if I were with a national or boutique broker.
Plus I’ve asked long-time agents in multiple states, friends and current and past clients if it mattered to them if I were affiliated with a national broker. Asked another way: "Does the brand matter?"
The resounding answer I got was "No. What matters is the service that you provide; we don’t get anything that we can really put our finger on from the broker."
This due diligence put the wind in my sail to make a change and I’m happy to announce that we have relocated our real estate affiliation to Maxsell Real Estate .
I actually believe that a broker does matter in two ways that will directly affect my clients: One, a broker charges me money and the national compensation plans are very expensive. With a less onerous plan that a local broker can provide, I can invest more in my business (marketing / systems / personnel) which will have a positive affect on my clients and attract new ones.
Second, Maxsell understands technology. That makes two of us and my believe is that 1+1 is more than 2 in this marriage and that together we can continue to lead the way for real estate in Alpharetta, North Fulton and wherever the future may take us.
Posted by Kevin Warmath | Currently 5 Comments »
Image and Attitude Adjustment for Realtors | Confronting the Implied Accusation
categories: Buyers, Self Promotion, Stuff I like to talk about
One of the things I like least about being a Realtor is the negative stereotypes that the profession has. Heck, I even had them and still have them to a degree. My wife certainly has them, as she starts too many sentences with "I’m not talking about you, but Realtors … "
Greg Swann at Bloodhound Blog tackles the problem of Realtors’ bad image and attitude head on. (Make sure you read to the part where he discusses The Implied Accusation.
Greg says it much better than I ever could, but I’ve definitely thought and felt it.
Here is The Implied Accusation in real estate: “Realtors are stupid.” “Realtors
are corrupt.” “Realtors are lazy.” “Realtors are self-serving.” “Realtors will
say anything to make a deal.” These ideas are epidemic, a cultural undercurrent.You know these charges are untrue, but what do you do about them? To leave The
Implied Accusation unnamed, unaddressed is to seem to confess to it, or at least
to plead no contest. Your clients begin their relationship with you with
unstated doubts about your integrity, and you hope to counter those attitudes by
your behavior.
I know for a fact that I have saved more clients more money and put more deals together for them that would not have otherwise have happened than I have probably earned in commission. I will state for sure that my perception of a competent Realtor has definitely changed since I became one: I have much more respect for the goods ones and much less respect for the not-so-good, which there are still far too many of.
It also reminds me of speaking with a man recently who mentioned that he had had very little respect for Realtors until his wife became one and he saw just how much time, work and expertise in negotiations it took to get a deal done…and "she was on the phone all the time." Not to mention that Realtors don’t get paid unless the deal closes, so unfortunately sometimes you work for free.
I’ll also add one more to Greg’s list or implied accusations: Realtors are technologically incompetent.
I became a Realtor to make a living, first, but also to provide clients what I thought was missing in the market: Real estate consultation that was professional, informed and used technology to make the process of buying and selling easier and more efficient.
I believe that the real estate market is changing both with the advances in technology and the downturn in the market driving the "old guard" out. We still have some reputation repair to do and it is to our advantage to address head on what so many people think about Realtors but won’t say to your face.
Buying and selling a home is a major deal; you want to make sure you don’t make a mistake, particularly when moving from out of town and you don’t know the area very well. I have potential clients ask to speak with my references, which is fine, but I’d rather kick the Implied Accusation in the teeth right up front, so make sure you read Greg’s post. Now if we make any accusations, they won’t be implied anymore and easier to deal with.
Posted by Kevin Warmath | Currently 2 Comments »
Bring Your GPS to Navigate this Monster Foreclosure in Alpharetta
categories: Alpharetta Real Estate, Foreclosures, Milton Real Estate, Self Promotion
You need your GPS not to find this house, but to navigate the inside once you get there. There is so much square footage, so many rooms and so many hallways (and closets) that it lead my nine-year-old to comment: Dad, can we buy this house? It would be great to play tag and hide and go seek…no one would ever find you!
This foreclosure in prestigious Atlanta National (in the golf course section) is a foreclosure among foreclosures. Truly, I don’t believe that you will find more high-end finished square footage for the dollar than this house. And I guarantee that you will not find this floorplan anywhere else. No one will say your house is cookie-cutter.
The house itself is over 6,000 square feet, although it feels more like 8,000. That is probably because the ceilings are so high in so many rooms. The exterior is four sides hardcoat stucco with a tile roof. On the inside you have six bedrooms and a ton of bathrooms. There is a mud-room / pantry / office that is the size of most kitchens and a room for most every other purpose too.
My favorite part is the grand two-story covered back porch overlooking the nice swimming pool - with diving board. You don’t see diving boards much in this day of insurance claim fear.
$1.6 Million Dollar Price Reduction
The numbers on this house are that it originally sold for $1.8M in 2002 when initially constructed. It was put on the market by the owner at $2.4M a year ago and then gradually reduced in price to $1.65M as it didn’t sell. The bank apparently took the property earlier this year and put it back on the market at an eye-popping $808,900. That is 33% of the initial list price. I’m not saying the house was ever going to sell for $2.4M, but it is DEFINITELY well worth $808,900 for that amount of space and character.
There are of course some negatives in the house. The master is not huge and the kitchen could use a little spiffing up. But there is a theatre in the basement, an elevator serving all three floors, a wet bar in the basement, and a five-car garage. It is one of the few homes with a pool that I’ve seen recently that has a well thought out bathroom right off the patio with a toilet and shower for after pool use.
Did I also mention that there is an 900 sq. ft. au pair suite (bedroom, bathroom, kitchen, living room) above the two-car detached garage, that, by the way has bays large enough for RV parking?
The question with this house is not whether it is a good value or not. It is whether you like the style and funkiness of the house. A client who I showed it to said it was actually too big. Of course my son disagreed. He said there were whole areas of the house that the kids could rule and grown ups would never have to come!
There is another good pre-foreclosure buy in Atlanta National (on the non-golf course side) at $699,000 with a full finished basement and level back yard. Also, in Wood Valley, there is also a foreclosure listed at a crazy $599,900 on a great golf course view lot. The house needs a good face lift though, and I’d think you could buy it at a significant discount. By the way, here is a shameless self promotion: I have a house on the second fairway listed for only $529,000 that is move-in ready and a great value, too.
I want to write more about these foreclosures, but time is short today. Please feel free to call me to discuss on the phone if you want more details about these or any other foreclosures in the Alpharetta area.
Posted by Kevin Warmath | Currently 7 Comments »
The Call You Hate To Get
categories: Self Promotion
I’m not referring to any calls that come in the middle of the night, which no one likes to get. I’m talking about calls from clients who have changed their minds.
My phone rang about 11:00 AM yesterday and the client with whom I was scheduled to view properties at 1:30 PM was calling to cancel. This lady from south Texas, who I had only spoken to on the phone, had called me the previous day and announced, “I’m here! Can I look at some of those houses.”
We had agreed to meet the next afternoon. Now she was canceling. She told me in her sweet accent that she had met another agent the day before and really like that agent and didn’t need me anymore. Not even a sweet Texas accent can make the bullet go in any easier.
I pushed back on her a bit saying that I really hadn’t had a chance to earn her trust and confidence; that was the goal of the afternoon’s meeting. She said she liked the other agent better. Better than what?, I thought to myself. She doesn’t even know me or how I conduct business. I had spent time, energy and resources on her and she didn’t even give me the opportunity to earn her business. That was the frustrating part, but it happens quite a bit in this industry.
I told her to have a nice day and hung up the phone. What I wanted to tell her but didn’t is that she was crazy because she had no idea what she was missing without giving me a chance.
So, I thought that this might be an opportunity to share some customer testimonials in hopes that other people won’t fire me before they actually hire me. It would be nice if people knew a bit about the experiences others have had with me before they select their agent. I have no problem with people electing to work with another agent because we all have different personalities, but I at least want them to be informed and would appreciate the opportunity to meet with them once if I have extended my time and resources over the phone or via my website.
One testimonial comes from a client from Boston:
Out of 30,000 realtors in Georgia, I selected you (from Massachusetts to boot).
You were knowledgeable in the area that I had selected, had the credentials (yes I did some homework beforehand). After conversations on the phone I felt comfortable enough to fly here and test you and the state out. At our first”breakfast” meeting I was impressed on the extent that you had prepared our tour day. Maps and notes and a selection of houses that fit the bill. What a day!
But your dedication to finding the perfect house for me was demonstrated time after time, email and phone calls included. I felt that my purchase, satisfaction, needs and wants were just as important as another clients, even if they were going to mean a bigger commision earned.
To sum up, even though there may be another 29,999 realtors out there, does not mean that they uphold the same standards, drive and passion as yourself. You will be successful because your character drives you in that direction, and with your success comes satisfied clients.
Folks, I couldn’t have written that myself if I had tried. But what I do do is live by my mission statement, which is to provide my clients service that makes them so ecstatic that they feel compelled to tell their friends, for their friends’ sake, not mine!
Having hung up the phone with the lady from Texas, I thought that writing this blog entry would be good chicken soup for my soul. I can get it off my chest and move on to helping the next client and giving them the type of service that I would expect to receive. Next…
Posted by Kevin Warmath | Currently 1 Comment »
For the Love of Maps
categories: Self Promotion
For as long as I can remember, I’ve always loved maps. When I was a kid in Colorado, I used to study maps for hours on end. I’d take pretend trips over mountain passes or find great high mountain valleys to camp in. Maps are powerful because your imagination gets to fill in the detail: the map only tells you where things were not how they look. I think it is the equivalent of reading the book instead of seeing the movie. The book is always much better because you add the detail.
Looking at maps of the ocean was also pretty fun. I always wondered what the bottom of the ocean floor looked like where the colors on the map went to dark blue. Those images will always remain in the imagination though, because while we know what the surface of the moon and even Mars looks like, we haven’t see the vast majority of the bottom of our own oceans.
Landforms are different, though. I could plan a trip by daydreaming on a map for weeks, but finally I would go and see these places. Inevitably, they don’t turn out to be nearly as cool as they were on the map and in my mind. The water wasn’t as good, or cattle or dirt bikes had tracked the land. And usually the weather wasn’t as good; my mind apparently has this thing for 80 degree blue sky days.
In urban environments you’re usually even more disappointed. Map makers tend to use green a little liberally on maps marking every open space and park. While technically it is a park, it might just be a boulevard with a wide center median. And what you can’t tell is that next to it is a strip mall, flea market or abandoned drive-in theatre.
I’ve built a real estate website that uses mapping technology from mapquest to show homes displayed on maps. Partly it was my affinity towards maps that drove me (no pun intended) to this technique, but it was also just common sense. When you are looking for a house online, it is much easier to see them on a map because you can see how close they are to each other or to a workplace or school. This is particularly helpful for people from out of town who don’t know the area or even the names of the roads.
However, while the mapping solution is better for locating houses, the houses are still just icons on a colored grid. If you’ve never been there, you don’t know what the streetscape looks like. That is where you need a good set of eyes on the ground and a good realtor. By looking at a map alone, you’d never know that there is not a single stop light in about forty square miles of the new City of Milton or that the Target on Hwy 92 is a SUPER Target.
If you need the color commentary to fill in the empty places on the map, please feel free to contact me. Meanwhile, drive you mouse around North Fulton and view the homes online, instead of driving your car.
Posted by Kevin Warmath | Currently No Comments »
