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Shall-Ching Lu

Diary of a Las Vegas Realtor Professional - Day 9

*There is always someone in a weaker market making less money than us. There is someone in a stronger market making more than us. Stay in the business and make your business market proof!

*Realtors in Michigan opened escrow for $700, $600 homes. The average sales price in Michigan is $2,000. Yet the market center there is profitable. Average home price in Las Vegas $125,000. Are we as Agents profitable in our businesses?

*Are we reaching out and changing what people think about real estate? Opportunity is never lost it's just passed onto someone else.

*Massive success comes from those who are uncomfortable in doing what we do. Massive success comes from massive action.

*Our goal is simple - be a better Realtor today than yesterday.

*Do we always make our listing/buying appointments? Why we do think it's alright to break our lead gen appointments with ourselves?

*90 days of consistent lead generation and focus on 3 areas of business.

*300 Mets in our database and earn $1,000,000 GCI. Goal is to net 120 names each year!

*33 Touch program to Mets Database (see a sample below)

  • 2 mailers per month is 24 touches a year
  • 3 phone calls a year
  • 3 hand written notes
  • 3 birthday, anniversary, children's birthday cards

Diary of a Las Vegas Realtor Professional - Day 8

Today is Tuesday thus my weekly $100,000 club meeting was today. Did you know you can buy membership to www.HouseSeats.com and receive Las Vegas show tickets all year round? Yes everyone this webite is phenomonal. Sign up and tell me what you think. We Realtors can offer show tickets to our favorite clients as a thank you gift for their business. Isn't that awesome? Clients you are lucky if you receive show tickets from your Realtor. You better treat them well and send them referrals!!

Make $100,000 by selling 35 houses this year with averge sales price of $125,000. It is achievable with hard work and good businesses practices. Work 60 hours a week, 5 or 6 days each week. You don't need an Assistant yet. I will need one next year starting in January. Hiring the right talent I am expecting to triple my income next year in 2010.

Did you know you can earn $1,000,000 a year by having 300 people you know in your Database? You must however send consistent mailing each month for 12 months a year. Mailing involves postcards, newsletter, magnets, a phone call, birthday cards, maintenance tips, free drawing, movie tickets, etc. Do you have mailing thoughts and ideas? Email me back!

Diary of a Las Vegas Professional Realtor - Day 7

Fall Maintenance Reminders:

As Fall approaches you can take a few key steps to ensure your home serves you well through the coming months. Please take to check these items in and around your home and attend to any that need maintenance.

Clean and test smoke alarms. Test and reset ground fault circuit interrupters (GFCI) breakers. Change and clean the air filters every 30 to 90 days. Caulk and paint minor drywall cracks. Operate the heating system. Adjust registers and confirm that cold air returns are clear of furniture or draperies. Adjust or replace weather stripping on exterior doors; as needed. Check the fit of exterior doors; thresholds are adjustable. Check caulking, inside (sink, tub & shower) and out, and touch up. Review safe fireplace operation. Check garage overhead door, tighten bolts as needed, and lubricate springs with motor oil. Have other repairs done by professionals. Winterize PBV valve in case of below freezing weather. Remove and clean the screens in all faucets. Clean gutters, check downspouts; confirm that splash blocks drain away from house. Check foundation, concrete and yard for settling; fill in as needed for positive drainage. On pleasant days, open windows to allow house to breathe. Decorate safely for the holidays. Do not overload circuits or use worn extension cords.

Other Maintenance Reminders:

Every month run water in unused bathroom sinks so the P-traps do not dry out. Every six months check under all sinks for possible leaks. Pay special attention to hand sprayers; they can potentially loosen as a result of use. They should be hand tightened. Reminder, assure Atrium brand windows are always completely closed before attempting to lock. Always maintain interior temperatures at 75/winter and 85 summer/ whether the home is occupied or not, this will help to avoid excessive drywall cracking.

Diary of a Las Vegas Realtor Professional - Day 6

I'm reporting Las Vegas home sales for the month of August 2009. Due to limited data I researched the data myself from the Multiple Listing Service. Please note the statistics does not include new home sales.

Total units of single family homes sold 3,232
Most of the sales volume comes from North Las Vegas with 748 units sold, followed by Southwest with 699 units sold.
Average days on market is 24 days
Average price/sqf varies by location (see details below)
It is now becoming a seller's market as we have less than 5 months of inventory for all homes sold in August
A buyer's market is with more than 11 months of inventory while a stable market is at inventory level between 6 to 10 months

Breakdown of sold units by location:
North - 748 (medium price/sqf $67)
Southwest - 699 (medium price/sqf $84)
Northwest - 518 (medium price/sqf $77)
East - 464 (medium price/sqf $53)
Southeast - 404 (medium price/sqf $99)

Home sale prices are close to the list price of all homes on the market in all different location. Refer to data below on medium list prices versus sales prices.

North - Medium List Price $124,900 vs Sales Price $126,100 with 24 DOM (days on market)
Northwest - Medium List Price $134,450 vs Sales Price $135,950 with 24 DOM (days on market)
Southwest - Medium List Price $159,500 vs Sales Price $160,000 with 21 DOM (days on market)
Southeast - Medium List Price $205,450 vs Sales Price $205,500 with 27 DOM (days on market)
East - Medium List Price $74,950 vs Sales Price $75,500 with 27 DOM (days on market)

For questions on the Las Vegas market contact me at 702-212-2288. My team and I have sold over $2,537,400 in sales volume thus far this year. We are your trusted advisor in the city!

Diary of a Las Vegas Realtor Professional - Day 5

Today is Friday but to many Realtors in Las Vegas valley it's just another day. I have a huge appreciation of the Real Estate profession and anyone who is successful in the business. It is not what most people think an easy job to earn a commission check. After spending 30 to 40 hours with a client which is a month worth of someone's time in a different profession we receive a commission check averaging $3,000. This is before paying out taxes, social security, expenses, training, medical insurance, dental, vision, etc. After I spent 10 years in Corporate America working for large companys such as Citibank, AT&T, Deutsche Bank, Prudential Financial, I realized Real Estate Professionals work more hours each week than the hours I put in every week. 50 hours is the average work week of a Corporate Professional. 60-70 hours is the average work week of a Real Estate Professional with more expenses to pay out before earning a commission. I love what I do in Las Vegas Real Estate market. I enjoy working with clients who respect our profession and not waste our time. We are not like used car salesprson. We are not available to show houses anytime 24/7. We are not uneducated...many of us have a Masters Degree.