Federal Agency Bringing Additional Jobs
"Grady Oxford, Associate Broker -Converting Complexity into Simplicity for His Clients"

Over his 24 years in commercial real estate, Grady Oxford has been called upon by many companies to perform site selection consulting services.  Given his tenure in the business and knowledge of the local market, there is no one more qualified than Grady to advise on the best site to do business in Las Cruces.

However, site selection is just one aspect of Grady's skill set.  Once a site has been selected, the real due diligence begins and this is where Grady's clients are in very capable hands.

Case in point - Walton & Griggs (4.5 acre lot, Wal-Mart anchored location):   What appeared to the buyer as a straightforward and excellent location for his project, actually turned into a very intricate and complex transaction due to the many underlying factors tied to the land.  The land was tied up in negotiations for over 18 months and, due to the future tenant being a federal agency, over 9 federal contractors were involved in the transaction.    Not only did Grady have to navigate the local bureaucratic issues (easements, zoning, etc), he also had to balance and navigate the intricacies of the federal bureaucracy.  

End Result:  Thanks to Grady's diligence, negotiations and facilitation skills, the land closed. What was once vacant land will soon be occupied with a major, soon to be annouced, federal agency bringing additional jobs into our community.  

When looking for a commercial real estate broker to represent your needs, be sure to put Grady Oxford on your list of top brokers.

Grady Oxford
C: 575-642-3893
O: 575-532-2222
goxford@zianet.com

TO LEARN MORE ABOUT OUR COMPANY AND TO SEE ALL OF OUR FEATURED PROPERTIES, GO TO:   WWW.STEINBORNTCN.COM

 

Year over Year Comparison
2nd Quarter 2008 versus 2007:
		#	$	Average	Median	Average
Year		Homes Sold	Volume	Price	Price	Days On Market
2007		583	$127,815,640	$219,238	$184,500	110
2008		387	$85,940,780	$222,069	$176,000	154
Change:		-33.62%	-32.76%	1.29%	-4.61%	40.00%
Current Year Trend
2nd Quarter 2008 versus 1st Quarter 2008:
		#	$	Average	Median	Average
Year		Homes Sold	Volume	Price	Price	Days On Market
2008
1st Qtr.		336	$71,603,534	$213,106	$175,200	146
2nd Qtr.		387	$85,940,780	$222,069	$176,000	154
Change:		15.18%	20.02%	4.21%	0.46%	5.48%

Observations:

* We continue to see a sharp drop in year over year sales for the second quarter but continued strength in both average and median home prices.  Why?  We did not have the irrational behavior in home buyer / speculators / investors as seen in such markets as Las Vegas, Phoenix and Florida.  Their irrational behavior, thinking prices would increase forever, drove up demand in a radical fashion thus prices.  We did not have this level of insanity in Las Cruces thus stable and strong pricing structure.

* Current year trend is positive for sellers.  We have seen an increase of 15% and 20% in units and total sales volume respectively in the second quarter compared to the first quarter.   Average price increased 4% over the first quarter thus driving up overall sales volume. 

* Average days on the market trend was tempered in second quarter.

Forecast:

* The wild card in our national housing economy is the fate of Fannie Mae and Freddie Mac who hold over $5 trillion in home loans.   They are both "to big to fail" meaning the government will intervene to rescue them if needed.  However, the psychological damage to the home buying consumer would be deep.  Still too early to tell as of this post (July 11th).   Indications are showing the national recovery in housing will go later into 2009 and maybe early 2010.  Again, "national" perspective.

* Locally, we will soon (meaning very soon) be blessed with a tremendous increase in military personnel at White Sands Military Base.   Las Cruces will see approximately 500 new soldiers by end of 2008.  There will be additional soldiers coming as follows:  861 - 2009, 861 - 2010, 861 - 2011 and 869 for 2012.   The total projected increase by the start of 2013 is 4,856.   THIS DOES NOT INCLUDE ADDITIONAL CONTRACTORS TO SERVICE THE BASE OR COMMUNITY SPIN-OFF (re: teachers, nurses, etc......).

* Not all the soldiers and their families will live on base.  If fact the vast majority will live in the Las Cruces community.  The ARMY projects that there will be over 600 "home buyers" from this influx over the next 4 years.  Again, not including all the spin-off.   All of this is great news for our local economy and will continue to shield and buffer Las Cruces from the national plight.

Please feel free to email me regarding questions at:  john@steinborn.com

 

 

While there has been a slow down in the national, regional and local residential re-sale market, there has been an increase in frustration among home owners who are wondering "when is my home going to sell?".   This is to be expected.   Our advice, as a company, is to  "price your home right".  So what is the "right" price?  The "right" price is ultimately your, the home seller's, decision.  However, it is the job of your REALTOR to facilitate the pricing decision by providing you with expert advice. Such advice is drawn from an in-depth market analysis on comparable sales as well as an accurate "absorption rate" analysis.   The worst thing a REALTOR can do is to over promise and under-deliver.  

Our goal as a company is to provide expert advice and facilitate reasonable expectations for our customers when pricing your home to sell.  Once the price is set, our REALTORS focus on creative marketing strategies to sell your home and then, once a buyer is engaged, provide you with skilled negotiating skills to close the sale.

When I have mentioned "absorption rate" to people in the community, I tend to get a puzzled look.  If you are listing your home and have yet to receive an absorption rate analysis, please ask your REALTOR to provide you with this analysis.    

To facilitate your understanding of absorption rate analysis, I am providing you with the following explanation:

 

Absorption Rate Pricing

 

"There are only a certain number of houses that will sell in any market
in any given period of time.
Let's see if your house will be one of them."

 

If 12 homes sold in the last 12 months in a given market that means that the market will absorb 1 house per month on average.  If there are 10 homes currently on the market there is a 10 month supply.  A 6 month supply is a balanced market, less is a sellers market and more is a buyers market. 

How to Calculate Absorption Rate: 

1.    Find your search area, criteria, price range, target market segment, time for analysis

     a.     The longer the time the better the overall average

     b.    Shorter times give the latest trends

     c.     Detailed searches give more accurate results

2.    How many closed transactions occurred in last 12/6/3 months?

     a.     Your REALTOR researches this from the the MLS

     b.    Houses not sides (buy side or sell side) of transactions

3.    Divide the total closed by the time period.

     a.     # homes closed in the last 12 months

          •·        #/12 = # of homes closing on average per month       

     b.     # homes closed in the last 6 months

          •·        # / 6 = # per month over the last 6 months

4.    How many active homes are on the market at this time?

5.    Divide the number of active listings by the average sold per month

     a.     # active for sale / # average closed per month = # month supply of houses

6.    6 month supply is a balanced market,

     a.     less than 6 month supply is not enough houses to fill demand

     b.    more than 6 months supply is not enough buyers to purchase the supply

 

Absorption Rate Models and Trends Analysis

 

Example City:

••Sold homes in last 12 months:              10,938

••Monthly Absorption Rate:                      911

••Number of homes on the market:          8,326

••Months Supply on the market:               9

 Is it a Buyers or Sellers Market?

 

Example City - 6 Month Market Trend
 

••Sold homes in last 6 months                    5,891

••Monthly Absorption Rate                             981

••Number of homes on the market               8,326

 ••Months Supply on the market                      8.5

 

Example City - 3 Month Market Trend
 

••Sold homes in last 3 months                    3,286

••Monthly Absorption Rate                          1,095

••Number of homes on the market              8,326

••Months Supply on the market                     7.6

 

What is the market doing?

  

Pricing Questions You and Your REALTOR Should Discuss

 

What is my pricing strategy? 

How long am I willing to wait for home to sell?

What is the price range for this house?

Where should this house be priced?

Where will we be "in line" to get this house sold in the time frame expected?

What are the potential pricing objections buyers may have?

What is my walk away price?

 

I hope you have found this explanation of absorption rate helpful.  Please discuss with your REALTOR if you have yet to receive this type of information.

 

 

Danny Villanueva Invests in Las Cruces

Testimonial by Danny:

 Last year I called my friend, John Hummer, Owner & Broker of Steinborn Inc. REALTORS® and informed him of my interest to purchase property in Las Cruces.  Having invested in communities all over the United States, I have always wanted to invest in the community that provided me with the foundation for my future success. 

I had a small 1031 exchange and wanted to find a property in Las Cruces to exchange my funds.   John introduced me to one of his commercial brokers, Tom Whatley, and asked Tom to represent me with my property search.  On my first visit with Tom, he spent an entire weekend touring and showing me various opportunities.  I found Tom to be a very bright, energetic and no-nonsense individual.   Given my confidence in Tom, I asked him to look for a larger investment.  Over the past year, Tom spent a tremendous amount of time searching opportunities and negotiating on my behalf.   His communication with me and responsiveness to my requests was outstanding!

Thanks to Tom's diligence, I was able to purchase property located at 655 E. University Avenue (currently occupied by Guzman's Greenhouse).   My goal is to play a part in the restoration efforts of University Avenue and convert this property into an innovative commercial development that will benefit not only the NMSU students, faculty and visitors but the entire Las Cruces community.

Tom is working with me to identify additional properties. It is my desire to increase my investment in the future of Las Cruces.   Tom is "my go to broker!"  He and his company understand the importance of placing the customer first. Thanks to Tom's efforts and the support of Steinborn TCN, I am in excellent hands.

- Danny Villanueva

About Danny:  A native of Tucumcari, N.M., Villanueva came to New Mexico State University on a football scholarship and was a member of the team that won the Sun Bowl in 1959. He also was editor of the Round Up, the student newspaper. After his NFL career, he returned to journalism and quickly rose to national prominence. As news director of KMEX-TV, Channel 34 in Los Angeles, he led the station to a Peabody Award, one of broadcast journalism's highest honors. He was senior vice president of Spanish International Communications Corp., which owned KMEX and other stations, from 1971 until the company was acquired by Univision Holdings in 1986. Villanueva remained as a top executive with Univision until 1990, when he began his current career as a founder of Bastion Capital Corp. Bastion is a partner in the Telemundo Communications Group and other companies in the United States and Mexico.

Below is a report that I have compiled on First Quarter 2008 Las Cruces Homes Sales.  Please do not hesitate to contact me if you would like additional information:

#	$	Average	Median	Average	#
Homes Sold	Volume	Price	Price	Days On Market	Market Listings
(2004) 368	$56,732,791	$154,165	$132,000	83	474
(2005) 435	$74,936,333	$172,267	$149,000	102	639
(2006) 507	$99,232,276	$195,724	$170,800	114	743
(2007) 508	$112,384,923	$221,230	$180,000	124	1375
(2008) 336	$71,603,534	$213,106	$175,200	146	1593

Source:  Steinborn Inc. Real Estate Research Department

•1.      First quarter 2008 home sales have softened relative to 2006 and 2007, which were the highest first quarters of the year in history.

•2.      First quarter 2008 sales are even with 2004 first quarter, which turned out to be a very good year in Las Cruces.

•3.      Total dollar sales volume for 2008 dropped below 2006 and 2007 first quarter levels. However, dollar volume was basically even with 2005 and well ahead of 2004 levels.

•4.      Home prices remain relatively strong compared to other parts of the country.   There has been a drop in first quarter 2008 relative to 2007 but remains well ahead of 2004, 2005, and 2006 levels.   Our four-year average home price growth, based on the first quarter data, is 9.6% per year.  Strong!

•5.      As inventory has reached a peak, it is not surprising to see some pricing declines.  It's too early to tell what the remainder of the year will bring.

•6.      Four-year average total dollar sales volume growth, based on first quarter data, is 6% per year.  Strong! 

•7.      It is unrealistic for consumers to expect that all homes on the market can be bought at low prices; however, there will be some fantastic opportunities.

•8.      As other parts of the country have slowed, so too has our sales volume due to people having to sell their home prior to moving to Las Cruces.

•9.      This is a great time to buy in Las Cruces. There is an abundance of choices due to higher inventory than in the past. 

•10. Remember, there are 12,000 commuters that live in Las Cruces and work in El Paso (Federal Reserve Data).  As Ft. Bliss grows dramatically over the next 5 years, so too will Las Cruces.   As White Sands Missile Range doubles in size over the next 7 years, we will see tremendous growth, not to mention growth in other sectors of the industry.

•11. For REALTOR®s, this is a time that we should re-double our work ethic and invest in more training to better serve our clients.

•12. A softening market is not a bad thing.  It is a matter of perspective.   Good things come out of soft markets.  Building is reduced and everyone in the real estate industry is forced to improve their overall level of service.  Opportunities are created in any market, be it a hot or soft market, both for consumers and real estate professionals.

 

 

At Steinborn GMAC, we pride ourselves in actively supporting our community.   We actively support Mesilla Valley Hospice, March of Dimes, Veteran Organizations, Habitat for Humanity, Las Cruces Public Schools and Catholic Schools, Las Cruces Symphony and New Mexico State University to name just a few.

Most recently, we rolled up our sleeves and supported the Las Cruces Chamber of Commerce Member Drive.    Two teams were formed, one captained by Brenda Parish and I lead the second team.  The competition was fierce!  When it was all said and done, Team Parish won in the total new member category 48 new members while my team won in the total dollars raised by new teams.  

I am very proud of the team spirit displayed by both teams.  Combined, the two Steinborn Teams recruited 95 of the 152 members recruited during the drive!  That represents 62.5% of the new members recruited!   At Steinborn GMAC, we clearly understand the obligation we have to "give back" to our community.   The community that has blessed us with such great opportunities.

Below is the article that appeared in the Las Cruces Bulletin:

Chamber rounds up 1,000 members 

Three-day drive brings in 152 new businesses

BY NATISHA HALES

The Las Cruces Bulletin

After setting a goal to achieve an active membership of 1,000 by Dec. 31, the Greater Las Cruces Chamber of Commerce met that goal after its first-ever membership drive last week.

The chamber board room was transformed into the Old West, and more than 40 volunteers - many dressed in cowboy gear - participated April 1-3 in the "Round ´Em Up" campaign, which brought a total of 152 new members to the chamber and tallied a total of 1,004 members after the drive.

The chamber retains its place as the fourth-largest chamber of commerce in New Mexico, but is closer on the heels of the Santa Fe Chamber of Commerce, which has more than 1,200 members, according to its website.

"We´re just terrifically excited," said chamber board Chair David McCollum. "We set a goal for this year to exceed 1,000 members. It´s just a quarter of the way through the year, and we´re already there."

Chamber President/CEO Jim Berry said the drive definitely exceeded his expectations.

"I knew we would make substantial progress, but I didn´t expect to get 152 (new members)," he said.

Volunteers received gifts, and awards were given to the top-earning teams and individuals.

John Hummer, CEO of Steinborn Inc. Realtors, brought in the highest amount of membership dues during the campaign. He received a one-hour full body massage by Cheryl Frank at Free Flow Massage, a complimentary dinner for two at Cracker Barrel, special seating and recognition at the chamber´s quarterly luncheon in June and a chamber polo shirt, baseball cap, golf towel and a profile in The Bottom Line.

Hummer also captained the team who brought in the most money during the drive.

The team will receive photo recognition in The Bottom Line, massage discounts by Cheryl Frank at Free Flow Massage and coupons for Dion´s Pizza.

 

Nikki MacDonald of First National Bank and Richard Haas of Steve Newby Architects are two of approximately 40 volunteers who rounded up more than 150 new members to the Greater Las Cruces Chamber of Commerce during its first-ever membership drive April 1-3. 

 

Though the team brought in the most money and 47 members, Brenda Parish's team won the award for bring­ing in 48 members, the most of any other team. Parish also was awarded a one-hour massage from The Masseur for her "special enthusiasm." Because of the membership drive's success, Berry said there are plans to schedule one at least once a year, but now the chamber has a new goal of retaining those members. "We'll hold new member receptions, but we also deliver packets with information about the chamber and how they can get involved, and the volunteers that recruited them can help them get connected and introduce them at chamber events," Berry said. "Of course, our goal is to keep those thousand, and we'd like add more to that."

- LATEST NEWS -

Steinborn / TCN Commercial Real Estate is proud to welcome 2 professional commercial Associate Brokers, Tracey Pidge and Gary Cantrell. "We really felt like it was time to join the company we felt was on the forefront of commercial growth and experience, and that company was Steinborn / TCN Commercial Real Estate," said Tracey Pidge. "The ability to generate demographic information, aerial images and reports for clients in a professional manner was definitely one of the reasons we decide it was time for a change," stated Mr. Cantrell, who is very familiar with the commercial activity in Las Cruces.

As Tracey and Garybring their team together under the Steinborn / TCN flag, the local market will definitely benefit as the result of Steinborn / TCN's growth and strength of services.

 

- SUCCESS STORY -

Kary Bulsterbaum, Associate Broker, successfully brokered the purchase of the 11,500 SF office building at 755 South Telshor, which formerly housed SunView Imaging.

Grady Oxford, Associate Broker, was the listing and marketing broker for the sale of the building.   Kary worked with the purchaser/developer to perform a complete renovation of the buildings exterior and interior to create a much more attractive office for new tenants.   The renovations will allow for multi-tenant use.  Even prior to the completion of the renovation, which is currently underway, Kary has secured leases from high quality professional tenants.  Next time you drive by 755 Telshor, look at the modern features being added and be sure to call Karyat (575) 639-1208 with questions about this new office complex and the modern features it brings to the high traffic, high visibility Telshor corridor.

-COMMERCIAL RESOURCE LINKS-

· Steinborn / TCN Website

· Steinborn / TCN Commercial Properties

• Steinborn / TCN Commercial Brokers

· Commercial Real Estate News

· TCN Worldwide Site

· Federal Reserve News and Information

· Dallas Federal Reserve (covers Southern NM)

• TCN National Market Data

To Visit our commercial website, click:   www.steinborntcn.com

 

We recently completed our 2007 Market Report for Las Cruces, New Mexico.    Should you wish to read an objective assessment of our local market, click this link:

 

 

 

http://www.steinbornmgt.com/uploaded_documents/BUY_NOW.pdf

 

The report reiterates the fact that all real estate is local.  It covers inventory levels, pricing trends and commentary of the strength of our market compared to other regions in the united states.   I would welcome any and all comments on this report format and quality of analysis.  Our goal is to perform this report annually and are welcome to any and all critiques.

 

 

The Steinborn GMAC Convention team had a blast at last nights closing party.  The theme:  A World Apart.  We were treated to Mexican, Oriental and Parisian cultures.  A Cirque Du Soleil mini show was performed and the live band from LA was outstanding.

Compliments of Murray's photos, here are some pics from last night:

 

 

 

Yesterday, we were treated to two inspiring speakers.   Charlie Plumb and Christopher Gardner.   After hearing both of these speakers, one could not help but realize that anything is possible if you put your mind to it.  Here is a summary of the speakers:

Charlie Plumb:

BIO:  Captain Charlie Plumb graduated from the Naval Academy at Annapolis and went on to fly the F-4 Phantom jet on 74 successful combat missions over North Vietnam. On his 75th mission, with only five days before he was to return home, Plumb was shot down, captured, tortured, and imprisoned in an 8 foot x 8 foot cell. He spent the next 2,103 days as a Prisoner Of War in communist prison camps.

During his nearly six years of captivity, Charlie Plumb distinguished himself among his fellow prisoners as a professional in underground communications, and served for two of those years as the Chaplain in his camp. Since his return home, more than 4,000 audiences in nearly every industry have been spellbound as Captain Charlie Plumb draws parallels between his P.O.W. experience and the challenges of everyday life. He has shared his message to an even wider public through appearances on Good Morning America, Nightline, Larry King Live, and The NewsHour with Jim Lehrer.

My Summary:

Imagine being beaten, tortured and spending 6 years in an 8 ft. by 8 ft. prison cell.  Not a modern cell, but a cell with a dirt floor, bucket toilet and exposed to the hot / humid conditions of a Vietnamese forrest.  

Charlie stood on the stage on an illuminated 8 x 8 square symbolizing his 6 year home.  After being released, people were amazed at how mentally stable he was.  His message, "the reason I am the person I am today is the result of what I went through".  Sometimes in life, it is good to be "blown out of the air" and face challenges.  But it is important to know, as he states, that you have two choices in life.  One choice is to survive and succeed and the other choice, which we do not like to mention, is that we have the choice to fail. 

As I sat in the audience listening to Charlie Plumb, I could not help but think how fortunate I am and put a healthy perspective on how I should deal with future challenges.  Of particular note, Charlie was in the same prison camp with John McCain.  

To learn more about Charlie:  http://www.charlieplumb.com/

 

Christopher Gardner:

BIO:  The amazing story of Gardner's life was published as an autobiography, The Pursuit of Happyness, (Amistad/Harper Collins) on May 23, 2006, and became a New York Times and Washington Post #1 bestseller. Gardner is also the inspiration for the movie The Pursuit of Happyness released by Columbia Pictures on December 15, 2006. The movie was #1 at the box office its opening weekend. Will Smith stars as Gardner and received Golden Globe, Screen Actors Guild and Academy Award nominations for his performance. Gardner is an associate producer on the movie.

Always hard working and tenacious, a series of circumstances in the early 1980's left Gardner homeless in San Francisco and the sole guardian of his toddler son. Unwilling to give up Chris Jr. or his dream of financial independence, Gardner started at the bottom. Without connections or a college degree, he earned a spot in the Dean Witter Reynolds training program. Often spending his nights in a church shelter or the bathroom at a Bay Area Rapid Transit station in Oakland, Gardner was the sole trainee offered a job at Dean Witter Reynolds in 1981. He spent 1983-1987 at Bear Stearns & Co., where he became a top earner, and then in 1987, he founded the brokerage firm Gardner Rich & Co. in Chicago.

My summary:   Wow! This is the word that comes to mind after hearing Chris Gardner's story.  One might think that his rags to riches business story is the most impressive attribute of Chris.  However, that is secondary to his accomplishment as a father.  Never knowing his own father, he was committed to his number one goal in life:  "I wanted my son to know who his father was and that I would never leave him", stated Chris Gardner.

He made us all remember that home is where the heart is not the material things in life.  As he stated, his son had more love living in shelters with him than some children  have today from their parents while living in multi-million dollar mansions.     On a business note, you could not help but be inspired by his work ethic and "focus" to succeed and "never giving up".   To learn more about Chris, go to: 

http://www.chrisgardnermedia.com/main/biography.htm

 

We are heading back to Las Cruces today.  The  next BLOG post will have some pictures from last nights closing party.  It was a blast. 

 

 

 

 

Congratulations to all of our Steinborn GMAC Award Winners (REALTORS and Company):

Premier Service Diamond Elite Sales Partners (minimum 97% customer satisfaction rating, 30% response rate, at least 10 surveys):

* Derek Graham

* Janice Gutierrez-Ehly

Premier Service Diamond Sales Partners (minimum 95% customer satisfaction, 30% response rate and 5 returned surveys):

* Jennifer Goude

* Eileen Hernandez

* Becky Mitchener

* Laura Reynolds

Top 10 (Nationwide) Total Closed Units:

* Evelyn Bruder

Top 100 (Nationwide) Total GCI:

* Evelyn Bruder

* Grady Oxford

* Kaye Miller

Top 100 (Nationwide) Total Closed Units:

* Grady Oxford

* Elsie Bonfantini

* Derek Graham

* Kaye Miller

Top 10 (Nationwide) Office Production - GCI:

* Steinborn GMAC Real Estate

Top 10 (Nationwide) Office Production - Closed Units

* Steinborn GMAC Real Estate

PHOTO GALLERY:

 

 

At tonights awards banquet, GMAC Experience 2009 location was announced.   We will be cruising Feb. 1 - 6, 2009 on the Norwegian Jewel (see link below).   Tomorrow a web site will be posted on how to reserve your cabin. Check the mygmac.com site.  From my first review of the costs, this Convention will be very cost effective.   The cabin fee covers the room, food and possibly conference registration (need to confirm this).  An inside state room will run $299 per person and a balcony stateroom will cost $525 per person.  They will have excellent speakers and professional development sessions.  Airfare is not included.  We will sail out of Miami.  More details will be forthcoming!   Looking at the ship, it has a Sushi / Saki lounge, martini lounge, cigar bar.  And of course plenty of other leisure activities. 

Link to Ship Information:  http://www.ncl.com/nclweb/fleet/shipInformation.html?shipCode=JEWEL

Hello Everyone.  Today was another day of excellent speakers and workshops.   Here is a recap with some photos follow:

The morning started out with a very powerful keynote from John Bearden, CEO of GMAC Home Services.   His theme was "Let The Future In".   He provided an excellent state of the company speech.  Of particular importance, he chose this morning to announce some very exciting, progressive and valued added tools coming to all of us in the near future.  I attended a workshop this afternoon that dove deeper into the details of these soon to be released tools.  Here is a brief overview:

There are three new initiatives:

* Market Advantage Program -  this will be rolled out to all companies and Realtors in April of this year.   This is a web based platform that provides the following services to you:  new marketing items (brochures, digital newsletters, flyers, HTML email formats and much more) that can be customized by the agent with simple clicks.  In addition this platform provides a client management system for client follow-up, email campaigns, newsletters, animated flash photo shows for listings and more.   The great news is the cost of this new program to you is:  $0.00.  Yes, zero dollars.

* Grassroots PR Program - we all know that the best advertising is word of mouth, relationship building and "grass roots" efforts.  This is a web based, online templates that can be customized for each office.  It provides auto delivery to local media outlets.  Basically, it is a means to be proactive and aggressive in sharing market news, information about our company. But more importantly, about each of our team members as they make news in our community via volunteer, professional or civic activities.  Again, the cost is:  $0.00.   Amy signed us up today at the Expo.

The next development, titled R/E Connex Mobile Workstation, will be rolled out over the next 6 months.  To set the stage and describe this new tool: How would you like to turn on your computer in the morning, log in with one code,  and see the following, web based (accessible anywhere and anytime), "desk top" format right in front of you:

* Outlook Email / Calendar

* CRM Database (customer relations database with all your clients)

* MLS Interface

* Toolkit CMA

* All RANM ZipForms (auto populating information when accessing client)

* Connex2 Leads (GMAC lead management system)

* Market Advantage Program (see above)

* Real Estate News Headlines (Inman, RSS, etc...)

* Report Generator (source of your clients, productivity, contacts, etc....)

* Your online communities (active rain, facebook, etc.....)

* And More

Basically, everything you need to conduct a professional business is featured on "one" desktop with links to  all these areas listed above.   What GMAC undertook this past year was intensive development of a one stop online platform.  They found a vendor that could "plug in" the best of the breed (e.g. TopProducer, ACT and other systems you may already be using) technologies into one platform.   It is what they call a "mash-up" of best of breed systems that will communicate seamlessly with each other.

One speaker gave this vision:  You are driving down the road, you get a text, email or voice message that you have a contact via yours/our website.  You contact the client quickly.  Their data is automatically loaded into your database.  When you get to a computer you add information from your conversation.  Customer gives description of what they are looking for and that they are not ready to move for 12 months.  So then you access your follow-up system that will send any new listings that meet their criteria automatically.  You set up a follow-up reminder / email system.   Twelve months comes, they are ready to make offer.  You pull up contracts on the system, they auto populate data from your contact management system, you email the contract and a copy is placed in the clients database automatically along  with any and all emails/correspondence that went to them through out the process. 

What GMAC stressed is that they will roll this out and beta test in key markets over the next 3 months.  Then, they will provide "training" on the tools featured on the desktop.  They will not launch this without training on the tools.  This is very smart on their part.

There is much more information to come on this.  It creates some questions on our current lead tracker system.  As for cost?  There will be a cost.  Once they roll this out, I will share with everyone.   It is their goal to demonstrate that what you may be spending today on your contact management systems and other technologies, not to mention time wasted and inefficient communications with clients, is costing you more than what this will cost annually.   Again, there is much more information to come.  Hopefully this provides you with a good summary.  I'll share more next Tuesday.  In addition, they announced a new website product for GMAC and member companies.  I will share more on this too.

Personally, it is good to see GMAC focused on investing resources on the development of the above tools.  In my opinion they are spending the money where it can best be helpful to building our business and, most importantly, serving our customers.

Next Keynote Speaker:  Jeffery Gitomer

Jeffrey Gitomer is the author of The New York Times best seller The Sales Bible and The Little Red Book of Selling. All of his books have been number one best sellers on Amazon.com, including Customer Satisfaction is Worthless, Customer Loyalty is Priceless, The Patterson Principles of Selling, and his latest best-selling books The Little Red Book of Sales Answers, The Little Black Book of Connections, and The Little Gold Book of YES! Attitude. Jeffrey's books have sold millions of copies worldwide.

We were all inspired by Jeffrey Gitomer today.  He gave a keynote address as well as a workshop in the afternoon.   Here is some snippits from his presentation:

* Think Globally and Act Locally is a Lie!  Rather we should Think Locally and Act Personally.

* Put your brand on everything!!!

* If you will interview your top 10 loyal customers and document "their" buying motivations, their story on why they chose you, their call to action......write all this out in a testimonial, have a video testimonial if they will agree and then put on your website or other communication mediums.  If you do this, seriously do this, you will double your business. 

* What is your Google Factor?  Google yourself.  See what other see when they Google you.   Get your name on Google!  He gave some tips on this.

* He showed us picture of Peter Best.  You may not recall but Peter Best was the lead drummer for the Beatles who quit several months before they invaded America because he found a "better" job.  This decision cost him $2 Billion Dollars!  Lesson:  Don't quit too soon.  The pastures may not be greener.  Become the best "not" Peter Best.

Again, great speaker.  Great author.  Great motivator.  Gave great tips during his afternoon workshop. His website is:  www.gitomer.com

Here are some pics from today:

Grady is up bright and early making sure he gets a seat:

 As a Premier Service Award Recipient, Jennifer got to March in with a Tamboreen and all the other Premier Service Recipients:

 

 George and Kaye Ready to Go:

 

 

 

Good evening everyone!  We had a great dinner tonight at Il Mulino's of New York at the Forum Shoppes at Cesars Palace.   Fun was had by all.  In attendance tonight was:  Murray and Evelyn Bruder, Grady Oxford, Derek Graham, Sharon & Jim DeBraal, Jodi Juliana, Laura Reynolds, Joe & Donna Martin Howell, Kaye and George Miller, Brenda and Arlen Parish, Jennifer Goude, Arlene Ehly, Amy and John Hummer.

 We toasted everyone back at the office tonight! For us, tonight was Thirsty Tuesday!  Here are some pics:

PRE-DINNER DRINKS AT THE WYNN:

DINNER AT IL MULINO of NEW YORK

AFTER MY TOAST, MURRAY OFFERED UP A 4 PART (DRINK) TOAST (SORRY VIDEO COULD NOT BE UPLOADED):

Today is a full day of speakers / workshops.   Tonight is the awards banquet.   Will update you later today on all the days events.

 

Here is an overview of our two excellent speakers today:

 

1.  Michael Russer (also known as Mr. Internet) - The New Consumer: The Technology Generation

* Russer provides us with some handouts/articles that I will bring back to the office.

* "Engagement" is the key to your website.  If the consumer is not "engaged" they will leave and most likely never come back.  

* What is "hip" is not necessarily "hot" for real estate.  Don't fall for every online gimmick as it may not add any value to what you are doing.

* Russer has his doubts about the value that Facebook, Second Life (other social networks) will play in real estate.  Reason?  Consumers have more money than time.  These sites are time intensive.  Advice: choose your playing field carefully.

* Russer stated that the way to beat 98% of your competition (meaning REALTOR out-position 98% of other REALTORS) is to choose one specialty (new home buyers, elegant homes, land, ranches, investment property) and "own" it and claim it as your market.  Build your image around this and other business will follow.

* Don't chase the consumers rather attract them.  Don't shotgun out emails hoping to hit some consumers, rather target your audience and give them a "reason" to come to your site.

* The traditional sales (face to face) model is counter to dealing with the Internet Powered Consumer (IEC).  IEC's are in control and they like it that way.  IEC's want privacy.  IEC's value saving time / want rapid service.  IEC's eventually will get what they want.  IEC's will not do business with you until they trust you completely (re: being responsive, asking them what they want and how they want to be serviced), you have the expertise that they are looking for and you have their best interests at heart.

* Do not confuse the internet with technology.  If you can use a web browser and email proficiently, you have mastered the essential skills needed with technology.  

* Russer challenged us to audit our strategic direction with online capabilities.   In reviewing his list, I felt very confident that Steinborn GMAC is well positioned in terms of online access, lead generation and internal technological services.  Our soon to be upgraded website will provide even more "engagement" for the consumer and empower them even more with the search / selection process.  But with all things, we will need to stay abreast of new and innovative means to connect with our consumers.

Again, I will bring back some excellent handouts and articles from this session.

 

 2.  Dr. John Izzo - The Sales-Partner: The Engagement of a Generation

 I really found this talk to be the best for me personally.   Dr. Izzo focused on the importance of leadership during times of change and provided excellent examples of companies who bleed with "passion".  

He gave many examples of excellent companies but one stood out:

1.  Umpqua Bank:   Izzo's friend is the CEO of this bank.  When he came to the small bank it had 140 million in assets.  Today, 12 years after his arrival, it has over 7 billion.  Passion and attitude  is what grew this company.  To read more about this unique player in the banking industry, click here:

http://www.bai.org/bankingstrategies/2006-nov-dec/UmpquaSustains/

Izzo also provides us with an excellent and detailed journey into the psychology and makeup of Generation X and Y generations.   His take away, in summary, is that even though we sometimes have difficulty understanding this generation, it is important as REALTORS, servicing this generation to "accept" their values.  He reminded us of a famous quote as follows (paraphrased):

"The youth in our society do not respect authority......they are not hard workers......for this I am deeply concerned" 

Guess who stated this?  Socrates of ancient Greece stated this.  This highlighted the fact that every generation looks at the upcoming generation differently and not as hard working or focused as our own generation.    The message he provides us is that Generation X and Y have differing values....not all bad, just different.

We also received a handout addressing how to "connect" better with this Generation X and Y via our websites and other outreach techniques.   I will bring this back too.

Tonight is our group dinner.   I may try to take some video clips of "Murray Live from Vegas" and include in tomorrows blog! 

 

 

 

Good morning everyone!  I gambled a bit last night.   How did I do?  Let's just say I cannot retire.   Today's leadership forum features two speakers:

1.  Michael Russer - The New Consumer: The Technology Generation

Russer will focus on specifics within a variety of trends that impact the consumer. The Young, Daring and Smart, asserts that Internet-savvy Echo Boomers (Generation Y) will change the industry by demanding a higher level of service and technology capability.

 2.  Dr. John Izzo - The Sales-Partner: The Engagement of a Generation

Dr. Izzo will discuss how your company can become THE destination for the required new breed of real estate professionals. His presentation will include:

• Approaching, recruiting and appealing to the Echo Boomer professional
• Developing the new generation of real estate professionals - capitalizing on their strengths and overcoming their weaknesses
• Opening and shutting the Swinging Door
• Keeping great performers engaged
• Promoting activities that keep Sales-Partners ahead of the competition

Following the presentations, there will be interactive workshops to focus on strategies in more detail.

Stay tuned, I will report back later today.  Looking forward to seeing the Steinborn GMAC team later today.  Tonight is our group dinner at Il Mulino's.  I'll blog on that too.

 John

 

 

 NOTE:  I'M BREAKING HERE.  IT IS 5:30 and TIME FOR COCKTAIL RECEPTION..... I'll FINISH THE POST on Don Peppers LATER TONIGHT "OR" IN THE MORNING......

OK I'm Back......

 

Speaker Three:  Don Peppers - Thriving Amidst Change, "Paradigm Power" and "The Hangover"

Don Peppers had a unique approach to creating value for our business.  His theme was tied to these main themes:

1) Only Customers Create Value for Us

2) It is all about creating Trust with our customers.

If we do not have customers, we have no business.  How we treat customers today affects their long term value to us in the future.

Why do customers choose us (you)"

* Trust

* Confidence in us (you)

* Strength of our (your) relationship with them

His overriding theme was "creating" trust with the customers.  Focus on building and maintaining a reputation for trustworthiness!

No matter how good we are, we will never be perfect (after all we are human), we should constantly strive to improve......note: he commended our company efforts to survey and seek feedback via our Premier Service survey process........there are very few Realtors and Company's doing this on a disciplined and consistent basis.

End of Day One.  Stay Tuned for Tuesday Blog.

John

 

Day One (Monday) Continued......

 

Just returned from our three speakers.  I will provide a brief overview of their presentations and touch on a few of their points that were of note. 

Speaker One:  John Bearden , CEO of GMAC Real Estate

 

John Bearden opened up the leadership forum with a personal talk about the importance of leadership during this unprecedented time of change.  He challenged us to not wish away the current climate in our national industry but rather confront the brutal realities that are facing our industry and make smart strategic decisions.

His theme was "Change creates uncertainty and knowledge crafts the opportunities."

His message to the principals focused on our attitudes, courage and overall ability to communicate to our teams.

All in all it was a very good kick-off message and set us in a good frame of mind.  He then introduced Stefan Swanepoel.

Speaker Two:  Stefan Swanepoel - Top 10 Trends for 2008

Stefan, with his British accent and excellent sense of humor, kept our attention for 75 straight minutes of his Top 10 trends for 2008.  We were the first real estate group to receive his 2008 Trends presentation as it was just printed several weeks prior to the meeting (p.s. I purchased a copy for the office and will bring back with me).   I will list his top 10 trends and provide a few take away stats.  A lot of this information you may already know.  But with any motivational speaker, it is always good to be reminded.  Here is his top 10 trends for 2008:

10.  Shattered Glass - Women, the Youth and Minorities Step Up to Leadership Roles 

* Women have always constituted a large number of REALTORS but now, more than ever, women are taking leadership positions in real estate companies.

* Women are the largest single economy (52% of population, purchase 85% of products, purchase 67% of healthcare, open 89% of bank accounts).  Focus marketing efforts on women.

*  By 2050, minorities will be 1/2 of the population.  Of particular focus - Hispanics.  As of July 06, there were 44.3 million Hispanics, will increase 70% by 2020. Estimated to be 100 million by 2050.   Focus on recruiting more diverse Realtor base.  Focus on creative outreach.

* Youth.  One click away.  Do not ignore the virtual world (myspace, facebook, etc....). It is a reality and growing. 

9.  Thought Reform - The DNA of a New Breed of Real Estate "Professional"

* He reminded us that in a recent Harris Poll, REALTORS were the lowest trusted Professional.  Why?  Well, one example is that it takes 1,200 credit hours to become a barber in California versus 120 hours to become a REALTOR.  What is more complex and creates more liability?  We created this image and we must be part of changing it.

* Do not focus on designations but rather the "knowledge" that comes with the designation.  If a course does not qualify for CE but is a "quality" course, take it! 

* Acquire business skills if you do not possess, become Internet confident, understand that this business is and adult education industry and must be self help oriented.   These were some tips he gave.

* He challenged us to implement more learning at our offices.  Note:  I felt good about our Advantage Training, Success Series, CRS onsite, and REI.  Not to say we can always do more.  The offices who do this will become part of changing the quality and trustworthiness of REALTORS.

8. Clash of The Titans

Basically, the message is that the large Real Estate Companies (12 he mentioned, of which GMAC is one of the top 6) are all poised to do well in light of online companies such as Zillow, Trulia, RedFin, etc.....

7. The Tug of War Has Started Again - The Evolving and Changing Real Estate Business Model

Stefan commented that there are 10 to 20 new Real Estate business models (online , offline) created every 30 days.   His message is "do not worry about these new models".  Watch them, learn from them, but there is no evidence that the Trulia's, Zillow's, RedFins, are going to replace the traditional agent who is in the community interacting face to face with customers.  What is most important is that your model fit your local community. 

6.  Gone in 60 Seconds - Identity Theft

He provided some sobering statistics about how real ID theft has become and the need for each of us (companies and individual realtors) to make sure our data is secure.  If TJ Max records were heisted, don't you think your (Steinborn GMAC) customer data could be taken?   Message:  Don't horde files.  Destroy files that are no longer legally needed.  Secure your data!  The more prominent you are in your market, the more attractive your data will be for an ID thief.

5. In Search of Productivity - Growing Market Share on a Slippery Slope

* At best, there are 700,000 too many realtors nationwide.

* In a recent MLS database of 10,000 transactions, approximately 50% of the realtors had "zero" transactions.

* Stefan stated, Are your non-performing REALTORS focused on building their business?   It is up to them to make it happen.  There are buyers out there.  Are these REALTORS actively working the buyer market, working their sphere of influence "daily".   Your agents must "maximize" the technology made available to them, have a business plan. 

4. Four Weddings and a Funeral - Changing Borders and Boundaries of MLS

Provided an update on the current consolidation and changes in MLS.  Dept. of Justice issues and consolidation examples.  Will bring more info back with me.

3. The New Digital Currency - Livestock, Land, Gold, Oil and Now Information

* Advertising for Real Estate Companies / Realtors Nationally is as follows:  35% Newspaper, 33% Internet (note: this will surpass print media next year), 12% Yellow Pages, 7.7% TV (tv is a waste), 7% Radio (radio is a waste).

* He has some great graphics that speak to the information explosion and trends.  He provided a Listing Promotion Pyramid.  I will bring all this back with me.

2.  Pop Goes the Weasel - The Housing Bubble Tightens It's Grip:

* "When the tide goes out, you find out who has been swimming naked" - Warren Buffet.   This sums up the subprime and foreclosure mess.

* Brush up on short sale and REO knowledge.  There is a market here.

1.  Two Worlds; One Industry - The Evolution of Online Communities and Networks

* Browsing, Searching and Sharing.  Sharing is the future.  Online communities are here and growing.

* Online communities are almost parallel universes existing next to reality

* 5% of "all web traffic" goes to 20 social network locations (re: myspace, facebook,).

* It took Top Producer 10 years to get 70,000 users.  It took ActiveRain 48 months to get 70K members.

* If you do not understand the virtual communities, you need to start today learning and understanding how to connect and operate in this world.

* Some of us will adapt, while others will just watch the events unfold on YouTube.

 NOTE:  I'M BREAKING HERE.  IT IS 5:30 and TIME FOR COCKTAIL RECEPTION..... I'll FINISH THE POST on Don Peppers LATER TONIGHT "OR" IN THE MORNING......

Speaker Three:  Don Peppers - Thriving Amidst Change, "Pardigm Power" and "The Hangover"

 

Greetings to everyone at Steinborn GMAC Real Estate.   Given that not everyone will be able to attend Experience 2008, I decided to create a daily blog to fill you in on all the speakers, events and other happenings.  I will also include some pictures throughout the week.   I hope you enjoy.  So, here we go:

 Day One (Monday):

My lucky day.  I arrived at the The Wynn Hotel at 7:30 AM this morning and was happy to find out that they had a room for me immediately versus waiting for the proverbial 3 PM check in time.  Monday and Tuesday is the Leadership Forum for company principles.   The rest of the gang is coming Tuesday afternoon.

Today, we have two keynote speakers.  The first is Stefan Swanepoel, a futurist, who will comment on 10 current trends in the industry.   Following Stefan, will be Don Peppers, who will comment on the trends presented by Stefan and then provide strategies amidst the change happening in our industry.   I will report back on each of the speakers and share some of the highlights later today.  Stay tuned!