About Dallas' Highland Park

There are many successful agents and agencies who are convinced that the key to their past success has been their dedication and the expense of many thousands toward the creation and maintenance of great web sites.

Oddly, the recent years of a highly fueled real estate market has coincided with the maturing of real estate web sites as marketing tools.

I'm convinced that it is entirely possible that the success of sales precipitated by web sites may have been akin to the reasons for the California Gold Rush -- people were convinced that the quicker they owned a home or traded up to a bigger more expensive home, the more likely their investment would show a financial profit.

They were going to do business with the first agent they found because they were convinced that any delay was worse than the chance the agent they picked from the web site could be substandard.

But now, just like the gold rush, that real estate market no longer exists. Agents can no longer depend on being little more than order takers fed by emails from people they've never met, emails that are the result of some person pointing and clicking.

I believe that while web sites will continue to offer a fine foundation for sales and business, real estate brokerage houses and their agents will either return to the old way of doing business or their spot light successes will diminish to only a smidgen of the amount of sales they had before.

Tom Hopkins' How to Master the Art of Listing and Selling Real Estate was first published by Prentice Hall in 1991, and that's when I bought my copy. This year will mark my 20th time to read it.

Dale Carnegie's Lifetime Plan for Success is a one volume book that contains his two famous books, How to Win Friends and Influence People, first published in 1936, and How to Stop Worrying & Start Living, first published in 1944. My first copy was given to me by a millionaire, W.L. Moody, Jr., who I asked when I was about 10 how I could someday be rich like him.

He gave me a worn copy of Mr. Carnegie's books and told me that inside was all of the information I needed, and to read them at least once every year for the rest of my life.

I have read these three books, in the aggregate, at least more than sixty times, each time as a test to make certain I am remaining on track with my career and addressing my personal life's goals.

Over the years, I've read many books on how to list and sell real estate, I've attended many seminars and I've bought many tapes and CDs. I've read many self-help books. All probably had some useful tips.

But I am totally convinced that when an agent combines Hopkins' book with the Carnegie books, he holds in his hand all that the agent needs to know to be successful.

If an agent's clients are depending on the agent and the agent's web site to precipitate the sale of the client's home without the agent's serious augmentation of their sales methods by those taught by Tom Hopkins and Dale Carnegie, the chances are great that the clients will not get the service from the agent they deserve.

And it is also in these times that revisiting those teachings and instituting them can bring success back to the agent's balance sheet.

Everyone wins.

BILL CHERRY, REALTORS

DALLAS - PARK CITIES

Since 1964

214 503-8563

WEB

There is a report this morning that Zillow Mortgage Company, when it surveyed a sampling of U.S. residents, found that fully one-third did not feel that today they would qualify for a home mortgage.

Studies like this are always suspect in accuracy, but nevertheless, those of us who service the home buyers and sellers know that such a prediction would be true for a significant percentage of the adult population.

The positive side of this equation is that demand for housing can't shrink unless the population does. And that's not likely to happen.

People are living longer, and those of childbearing age are still having children.

And whether the mortgage industry, commercial banks and the government mortgage programs like it or not, they are forced to satisfy that need.

So either the strain will show its increase on rental units, on single family homes or both.

Meanwhile, the foreclosed home unit inventory will be removed from the market by attrition, while home and apartment builders wait for signs that there is demand for their products.

Values, in general, of the homes standing today will increase to levels that were above their previous high, as demand exceeds supply. New homes will cost more to build, so they will cost more to buy.

With respect to the government's secondary mortgage programs, what will lie in their future will be the requirement that the originators of the loans keep a portion of the loans themselves. And that is the obvious way to seriously constrain bad underwriting.

For the home buyer who qualifies for a mortgage today, now is the time to buy, now is the time to trade-up, now is the time to accumulate rental units -- whether single family, apartment units, or both. The value is there and the demand is on its way.

BILL CHERRY, REALTORS

DALLAS - PARK CITIES

Since 1964

214 503-8563

WEB

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