What does the State of Utah have in common with the States of Michigan, Florida, Arizona, Nevada, and California?
In regards to real estate, not a heck of a lot. Because, with the exception of Utah, the other states noted are in a subprime crisis that has seriously affected their housing markets. While the State of Michigan is not a sunshine state like the others, Michigan’s crisis has been impacted largely by the job market. The other states, with the exception of Utah, have experienced a subprime crisis affecting their housing that has been largely impacted by speculation and greed. Investors wanting to make a quick buck by flipping new construction investment properties mostly in sunshine states which tend to be popular destinations. What Utah does have in common with the other states is the subprime availabity. If their were at one time say a dozen subprime products for brokers and consumers to choose from, now there are only two. So a slow down in Utah’s “best in the nation” status is and was expected because of subprime’s limited choices. The lessons that can be learned from this are simply; spend less than you earn, save your money, don’t by more of a home than you can afford, stay out of debt, avoid over refinancing, avoid at all costs 100% loans with 2nd and 3rd mortgages, don’t sign mortgage documents that you don’t understand, avoid subprime mortgages, but rely on conventional and FHA/VA loans. So it matters not what state you live in or what state your mind is in, these practical common sense rules apply to all including real estate investors.
Call it what you want, but whining, complaining, criticizing, and belly aching are problems for us. It is not what made America great. It is not what motivates ordinary people to do extraordinary things. At this present time is an opportunity for those who recognize it and act on it. This will one day be remembered as the “good ole days” by many. One may also even hear in a few years from now people asking, “why didn’t I buy back in 2008 when the opportunity presented itself?” So ask yourself what is presenting itself before you that is an opportunity you can act on. Consider your situation, especially financially, and determine what is best for you not what you are hearing.
When you think of how commerce has been transacted for hundreds of years there are basics that no matter what changes have occurred in technology, pricing, or what you sell, that one must remember. Many consultants, trainers and authors have offered these consistent insights , because they are basic skills one must remember.
1. “Listening” Is the number one preferred corporate quality. It is important across all demographics, 7 to 97. Listening establishes the prospects’ needs and allows you to learn their viewpoint for what is motivating them.
2. “Give me a good reason to want to work with you.” If you have questioned skillfully and listened carefully, you will have an understanding of how to present the benefits to solve the problems unique to their situation..
3. “Show me I am not the first. Show me how someone similar to me was successful ” Few buyers want to feel as though they are the first or the only, so build your customers’ confidence by using third party testimonials, show them a published article and demonstrate that people just like them are happy with their decisions.
4. “Tell me how you will serve me after we are under contract.” People inherently don’t trust sales processes. Think at first that they are there to eliminate you, then build the relationship from there. Convey to them the commitment to customer service is shared by you and your company. Call them often, a basic rule of thumb is, if they are calling you more often than you calling them, you’re not calling them enough.
5. “Convey to me that your price is fair.” Buyers want reassurance that the price they are paying is reasonable and the absolute best value with a ROI. A common misconception is that customers are only concerned with the lowest price. Value is also measured more importantly by your timely delivery, consistent follow up, and commitment to your customer’s best interest.
6. “Don’t argue with me, even if I am wrong, I don’t want you to tell me.” A man convinced against his will is of the same opinion still. And the person who writes the check gets to pay for the opinion.
7. “Show me the best way to pay.” Financial concerns are always an issue; customers need information and help in understanding financial alternatives, especially on “big ticket” items.
8. “Give me a choice. Let me decide, but become a knowledgeable resource for me. Make consultative recommendations. Don’t confuse me. Less is more, too complicated the less likely I am to buy. ”
There are many different ways to buy. Most people are using the Internet to begin the buying process and they will verify what you have told them is the truth by using it. Break this basic rule and they just won’t buy.
9. “Deliver to me what you sold me and stand behind what you sell. If I give you my money and you disappoint me, I may never do business with you again or worse no referrals.” This says it all.
10. “Follow up with me, please don’t fade away.” There are many different ways to follow-up, use them. They don’t want you to leave the process, remember customer service doesn’t end when you accept the check.
Accidently hit your thumb with a hammer recently? Have you ever done it twice within a few minutes. Amateur home repairs are the best chance for this to happen. But the “pounded thumb theory” is manifested when you hit the same digit repeatedly, indeed, after a while it just doesn’t hurt anymore. Hurts the first time, a lot, the fifth time - not so much. We get accustomed to the pain. For example the pain may be real, like filling the car with fuel weekly, pump shock, or more especially what the MSM reports day in and day out. There is so much negativity in the MSM that I am considering becoming a hermit. The negatives are pounded out about the war, housing, subprime mortgages, politics, President Bush, oil prices, our political leadership and general disrespect for anything good. Becoming a hermit is not the solution, but maybe I’ll stop listening to the radio and reading the news online, just long enough to stop the throbbing. And when it does stop, I’ll do what is best for me, my family, my community and my country , not influenced by what or how things are reported by the MSM.
The polling firm Zogby reports that 70% of Americans believe the MSM (main stream media) is out of touch. Duh! I attribute that to the Bill Clinton principle. That is, he has never gone away, he’s like a stalker. He is everywhere all the time, from 1990 to 2008 and beyond. After that many years we are exhausted of him. Is Bill Clinton in love with being loved by his adoring fans, or not? Hillary had to rein him in recently when she began to realize his liability to her campaign. Well the MSM is doing the same kind of thing in principle. Failure to report or comment on successes (the war), positives (the economy), truth (Bush’s policies), or any number of other complicated stories (sub prime, real estate, etc.) has made the MSM not credible to a lot of people. The media has pounded every aspect of the Bush administration for so long, like Clinton over time, we just don’t believe them or him anymore. We certainly don’t see him as popular or endearing. The MSM continues to lose subscriptions, viewers and credibility for the same reasons. Maybe they should be worrying about their own economy, what with the industries own financial crisis of lay offs,cut backs, declining advertiser revenew. Things aren’t as bad as they report it, good is reported as bad and bad is reported as any way they want, even sometimes as good. The MSM fails to do its job daily and often reports the news through the biases they hold, while failing to disclose to us what they are. How else can one explain the failure of the Seattle Times in reporting the fires set by the Enviromental Liberation Front on the street of dreams as anything but evil and an act of terrorism. Washington State and especially Seattle is as liberal as you will find anywhere in the country. So, you do the math, how will this story on a very liberal organization, E.L.F. be reported by a very liberal rag, the Seattle Times and others. Things can’t possibly be as bad as reported by the MSM. Did we not all learn very young, in the fabled story about “the boy who cried wolf” and the chicken that kept claiming “the sky is falling” that that doesn’t work in persuading others over a long time. The liberals with their biases and agenda with their willing accomplises in the MSM are today’s new fairy tale “chicken boy”. And 70% of us don’t believe in fairy tales, i.e., global warming, the economy is failing, evil is good, good is evil, etc.