How IS the Market?

I’m often asked (as are all agents) about the state of the real estate market. The national news reports that the market is ‘down’. While that may be true for the nation as a whole, I want people to understand that there really is no such thing as a national market!

There are three types of markets to learn about and understand:
· Macro
· Metro
· Micro

The ‘macro’ market refers to an entire nation. This can sometimes be used to refer to an entire global market as several nations together. For example, the northern hemisphere’s market can be compared to that of the southern hemisphere. When all of the sales figures are added together and averaged, this is how we receive the national news that the market is down (or up as was the case in 2004 and 2005, remember?).

A ‘metro’ market refers to a smaller region or city. In Idaho where I live and work, our metro market area consists of Boise, Meridian, Eagle, Star, Kuna, Nampa and Caldwell (along with several other small towns). Our area is often referred to as the “Treasure Valley” or southwestern Idaho. This is only an example but you can see that ‘metro’ is a decidedly smaller area, geographically, than a ‘macro’ market. The same rule of sales averaging applies. Take the entire inventory and sales of real estate in the cities and towns of the Treasure Valley and the averages may look very different from the national figures that are reported.

Finally, a ‘micro’ market is a very small area within a metro market. Again, using Boise as an example, the historic north end is one micro market, while the west side of the city is another. If you compare sales in the north end with those of the west side, you will likely see two completely different reports. Yet they are within the same metro market and macro market, aren’t they?

The next time you are curious about the state of your particular real estate market, ask your favorite realtor to do a little research on all three markets. All three markets are important to watch, but none as important as your own little corner of the world!

For more information on this and other real estate or communication related articles, contact Arlis at: dynadame@msn.com.

What IS Fear, anyway?

What is fear? Dictionary.com defines it this way: “a distressing emotion aroused by impending danger, evil, pain, etc., whether the threat is real or imagined; the feeling or condition of being afraid.” I think fear is our anticipation of a negative outcome and what we do psychologically and physiologically to insure that very thing! This is quite common when we need to get a price reduction, ask the buyer for more financial information, or even when we need to talk to our broker. We expect the worst – and very often get it because we’ve prepared for it.

For example, you plan to have a discussion with a seller about a price reduction. You imagine the seller getting angry and aggressive in response. Before you ever make the call you experience sweaty palms and heart palpitations (physiological). Once you do have the conversation, the seller responds negatively – just as you anticipated (psychological). See what I mean? We are conditioned to imagine the worst. No wonder it shows up over and over again.

In the movie The Secret, we learned how important it is to focus on what we want - on the expected positive outcome. Imagine yourself exchanging information with your seller in a caring, positive and professional way. Imagine the seller asking questions and responding positively to your suggestions as you move forward together toward a successful sale. You’re more likely to get that outcome if you anticipate it, aren’t you?

Anytime you think about a potential interaction with someone, notice if your palms get sweaty, hands get shaky, your heart starts to race and you hold your breath. Also notice if you’re making assumptions about how that person will behave or respond. Stop, take a deep breath and imagine a positive win-win outcome, then proceed. You will be amazed at how much more effective you’ll be with buyers, sellers, fellow agents and yes, even your broker!

Has this market caused you a little fear?

Here's a thought:

"Fears are educated into us, and can, if we wish, be educated out."

--Dr. Karl Menninger

The PERFECT Shifting Market Quote!

The difference between try and triumph is a little umph. -- Source unknown

Mortgage Relief Act - the actual document

For your fireside reading enjoyment, click here. The summary will follow. Stay tuned!

We're #1 locally and #2 internationally with Keller Williams!

Congratulations to all of you who worked so tirelessly last year in this shifting market. In spite of everything, you managed to remain first in firm ranking and in office ranking (see below). It is interesting to note that on the office ranking report we are almost double the closest competitor!

Also - we managed to end 2007 in second place, both in total profits and profit sharing, losing only to the Austin Southwest market center.

Here's to an abundant and successful 2008. Keep up the GREAT work!

Another report showing we're #1!

Click to enlarge...

Notice we're almost double the next closest competitor: