Matt Hermes

I took the time to read a very interesting article that was written by Christopher Elliott who is a travel contributor for MSNBC.com this morning. What struck me was how similar his views were on customer service in the travel industry and the real estate industry.

Granted, Customer Service is of utmost importance in my real estate business and if truth be told, I am sometimes not the best at providing it. Not by lack of effort or care for the client, but becaus I am either too busy doing other tasks or just failing at it. Customer Service should be the number one thing I strive for after lead generation in my business. This is one reason that I recently brought on an agent to help me with this.

I still do what I can to make the customer / client happy, but Brenda is always there to help in any way possible to make sure we are doing all I can to make them happy.

Here is a link to Chris article, but I wanted to offer my points along with his.

1. Join a loyalty program
Even though loyalty programs tend to benefit travel companies more than they do you, and even though I’m on the record as calling them the crack cocaine of the travel industry, being an elite-level program member means something.

Matt's View: 1A. A Loyalty Program is a great idea in the Real Estate business. Why not start one. Granted it might take years to have even the first person use it, but if they tell their friends about what I am doing maybe it will get me in front of someone I would not otherwise.

2. Ask a friend.
“I think the best source for a company that offers good customer service is always word-of-mouth,” says Paco Saldana, the director of guest services at The Ritz-Carlton, Amelia Island. (Incidentally, one of my all-time favorite hotels.) What’s so effective about word-of-mouth, as opposed to a Web site? Easy.

2A. Matt's View: This is a no-brainer. We all want those whom we have served to refer us to their friends, neighbors, relatives, etc. But do we go out of our way to make sure that everyone knows that we want referrals. I don't. I should, but I don't.

3. Do a little networking
You probably have a lot more friends than you know, if you count the ones online. Social networking lets you exchange information about customer service with people you know and their friends. “All the social media tools, like Facebook, Twitter and Flickr, allow us to share our good and bad experiences and for people to act based on this feedback,” says Jason Sarracini, president of Target Vacations Limited.

3A. Matt's View: Networking is King. If we are not networking everywhere we go then you are not going to stay in or be successful in business. One thing I struggle with is being overly outgoing in places I should. Grocery store line, ballpark, etc. I know I should be telling everyone I meet about what I do, but I don't. Need to really work on this one.

4. Consult with a pro
Travel agents (yes, they still exist) can tell you which travel companies outside of the usual suspect will give you good service. And who knows, they might find a deal, too. “As much as possible, try to cultivate a relationship with one travel professional,” advises Catherine Banks, owner of Plano, Texas-based Legacy Travel.

4A. Matt's View: Duh. Consultation with an expert is HUGE.

5. Do your homework
“Research your target,” says Richard Atkins, chief executive of the customer-service training company Improving Communications. A simple online search with the keyword “review” will pull up lots of opinions about the airline, car rental company, cruise line or hotel you’re interested in patronizing. “Disregard the emotionally-charged ones — statements like ‘the place was run by a bunch of third-grade idiots who seemed to take pleasure in making us suffer’ — and pay attention only to those that are factual,” he adds.

5A. Matt's View: Every Buyer or Seller should do their homework, and if I have done all of line items 1-4 well already then I should at least be in the "mix" when it comes to buyers and sellers. How well are you doing to make sure your homework grade would be an A+ in others minds.

6. Look for the good employees
They’re easy to spot. They’re usually the ones smiling.

6A. Matt's View: No a whole lot to talk about here. If you or your employees are not happy doing what you do, why are you in the business.

7. Make a request
True, we expect customer service representatives to read our minds, but when you’re processing dozens of customers an hour, who has the time for that? “Ask yourself: Who will care that I receive great service?” says Kristina Hughes-Arntz, the director of sales at Aikens Group Hospitality in Virginia’s Shenandoah Valley. Find that person and ask. Anything from a room upgrade to a special favor may be granted, if you give them a reason to grant your wish. Hughes-Arntz calls this the “Aladdin Factor.”

7A. Matt's View: I love it when my clients or prospective clients ask me to do things for them. I might not be able to do it (reduce my commissions) but at least I know they will be up front and talk to me about those items that they want and need. No one said we have to always say "Yes".

Anyway, long post but I enjoyed writing it and now must go out and make sure I am doing everything I suggested and commented on. Make it a great day!

This morning while waiting for a colleague at my local bagel shop, Big Apple Bagels, in Dacula I picked up the most recent Real Estate print advertising book. This is not something I have done in forever, but I figured I would take a look at it and see who was doing the advertising.

What amazed me was how small the book was. I mean, two or three years ago this thing was at least 150 pages. This book was a mere 23 pages and most of the content was not what it was a couple of years ago. Before any of my friends in the print advertising industry shoot me, hear me out. I have in the past done a bunch of print advertising but recently with all the other "free" options and media outlets I have at my disposal why choose to pay a bunch of my hard earned money on print when I know that only a small handful of people are still using it.

We now have all types of internet marketing we can do that creates immediate interest, a call to action and is available 24/7. Granted, each of these publications have their own websites they point to and I am sure that they garner traffic but to me print is really a dying brand. Kind of like the "bag phone" I used to have. It worked for a while but after new technology came along, why not switch to the newest and most effective option.

Recently I was asked to be interviewed for our local newspaper, the Gwinnett Daily Post which I was happy to do. They even threw in the bottom page of the home section to advertise my local listings. I waited anxiosuly by the phone for the stream of buyers and sellers to read the article and call on the listings. What happened. Not a call, except for a few of my friends who called to tell me my photo made me look too old.

My point is this folks. Internet is where it is. Plain and simple. Keep up the blogging, and social networking and make it a great day.

Matt

As recently as yesterday my Partner, Matt Fagioli and I were meeting with a prospective client and the discussion headed in a very familiar direction. This client wanted to tell us how to market the property, what price was reasonable and what we should be able to sell the home for.

While I appreciate and totally understand where this person was coming from it reminded me of all the reasons that this person should NOT hire me to help get this home sold.

So here you go. There are at least FIVE reasons Not to hire me to help you sell your home. If any of these items fit, please let me know and I will be happy to provide you a name of a number of agents that will be happy to help you try to sell your home in this market.

Top Five Reasons NOT to Hire Me:

1. If you want me to tell you what you want to hear I am not the right person for the job.

I will always sit back and listen to my clients and get their imput and thoughts on the sales process and like to get your thoughts on what you feel may help get your home sold. No problem. I am smart enough to know that I do not know everything and enjoy learning. However, this is what I do on a FULL TIME basis. I sell real estate to provide an source of income for my family and I know what I am doing. If you want me to tell you what you want to hear, this does nothing but delay the inevitable. You will be upset that I have not sold your home and you will try another agent.

If you cannot handle the truth and let me tell you what is really going on in the market, where the pricing needs to be and how we can best market your home then we are not the right fit. If I cannot tell you what the real deal is and how we are going to address marketing the listing then please find another agent that wants to follow your lead.

2. If you have a friend, relative, or someone that "just got into the business" that you want to sell your home I am probably not the right person for the job.

In the real estate business I have been so fortunate to have had numerous referrals from past clients, friends, church members, relatives and so on. I always tell them up front that they can fire me at any time if they do not feel I am servicing them properly. I will not let a relationship fail because of trying to sell their home.

If you know someone that falls into one of the above categories I would strongly suggest that you think long and hard about hiring them. Why? Well, first it is hard to fire a friend. I have been on so many listing appointments where I hear the phrase "I hired my friend and felt bad about firing them". While that is admirable, you have wasted months of market time and your home is still on the market. You have been losing money every month and your friendship is costing you dearly.

If someone that you know just got into the business, I applaud their decision to get into the exciting world of real estate, however, experience is paramount to your success in selling your home. Let them learn the real estate trade on someone else. Do not put your most important asset in the hands of a new agent.

3. If you want me to tell you how long it is going to take to sell your home I am not the right person to help you sell your home.

If I had an answer to this question, I would be sitting on a beach in the Bahamas drinking Margaritas and raking in millions of dollars a year. No one can tell you how a home will take to sell. I have seen homes sell in 6 hours and others take 6 years to sell. If an Realtor or real estate agent ever tells you that they know how long it will take to sell, run away fast. There is no time frame that is set in stone here. I may be able to give a good indication of market time, but a lot depends on the price, condition, location and current market conditions.

4. If we cannot come to an agreement on initial asking price, I am not the person to help you sell your home.

Pricing is the main factor to selling in this economy. I hate to tell you this, but unfortunately I do not control nor set the market. Buyers set the market and what they feel a home is worth drives pricing. With very few buyers in the market for homes we need to set the price the home at or below market value. Any homes priced above market value are destined to sit on the market for quite a while. A few years ago you could set a price higher than market and see if someone would come to you and make an acceptable offer. Nowadays, there are so many foreclosures and "deals" out there, the market will not bear overpriced listings.

5. If you think you can do as good a job selling your home For Sale By Owner (FSBO) then I am not the agent to help you sell your home.

I take great pride in my profession and know that I work hard to do the best job I can to get all of my clients homes sold in the least amount of time and for the most money. If you feel that you can do my job, then please go ahead and list your home FSBO and when the home does not sell then give me a call to discuss your needs. In the mean time, please remember that newspaper ad, print materials and open houses really are not effective ways to market your home. Remember that 85% of all home buyers look to the internet first to find their next home. How are you going to market to the internet consumer as well as the 25,000+- agents in this market who are looking for homes to sell to their clients.

Also, please know that FSBO's typically sell their homes for less money than if they were to hire a real estate agent, so the money you think you are saving in commissions is irrelevant. It actually may cost you more to sell your home by yourself and can cause legal issues that typically are non-existant when you hire a professionally licensed real estate practitioner.

So there you have it. Five of the top reasons not to hire me to help you sell your home. I know this comes across to some that I do not want your business, that is the furthest from the truth. What it really means to say is that this is what I do full time to provide a income for my family and take pride in my work. I would never walk into your workplace or home and tell you how to raise your kids or do you job. Let me work for you and complete the task.

If you have any questions feel free to call or email me at any time and make it a great day.

MATT

PS: While I was writing this post our client I referred to in the first paragraph called to let me know we have earned her business and we are putting her home on the market this afternoon.

What are we to do now?

Another month of relatively good news in the housing market is welcome news to those of us in the real estate industry and should be welcome news to everyone who owns a home. Funny, again this information was buried on page two of an online internet news site. Why give us good news when there is so much bad to report.

After all the negative stock market readings we have seen over the past week or two, there is finally some good news to report. Today, statistics were released that show Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors^®.

The Pending Home Sales Index,based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.

Economists polled by Reuters ahead of the report were expecting pending home sales to drop by 1.8 percent.

Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. "What we're seeing is the momentum of people taking advantage of low home prices, "It's unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we're hopeful most of the increase will translate into closed existing-home sales."

Yun notes the unusual timing of contract activity in August. "Home buyers in July were hampered by overly stringent lending criteria in the months before the government takeover of Fannie and Freddie," he said. "August shows some unleashing of pent-up demand before the credit crisis accelerated in September."

In speaking with the lenders I deal with on a regular basis, the availability of loans are plentiful, especially in the price ranges under $300,000. This is good news and to me is another reason to listen to and watch the headlines but do not get bogged down in all the doom and gloom. Yes, we are in trying times but come on, we will get through this and be better for it.

Existing-home sales are forecast at 5.04 million this year and 5.41 million in 2009. This follows national declines of 5 to 8 percent in 2008. Home prices are projected to increase 2 to 3 percent next year. Did you read that? Prices are expected to increase next year 2-3%. Get off the fence and lets get moving.

Originally posted on www.GwinnettDwellings.com

This story was forwarded to me by a good friend and after I read it I was getting ready to call him and see if he wanted to come with me to Vegas.

Interesting this article was written in 1999 and predicts what will happen if the country went into an economic downturn.

Mortgage Crisis Prediction

So what do we need to do now? Take a deep breath, realize that in time all will return to "normal" and that the housing market, stock market, job market and any other market you want to mention will stabilize.

For me personally, I need to realize that the current financial mess is something I cannot control by myself. I can only control my personal finances, which like many others are struggling but you know what I have my wife, kids, health and God, so I am good.

Go make it a great day.