Welcome to the Liz Moore Insider!

As we begin 2012, there is a great deal of BUZZ in real estate circles about what the New Year will bring.  Industry leaders on a national level disagree about whether or not the market has hit the proverbial bottom.  Some argue that prices have further to fall; others are convinced that we have turned the corner, and that the economy is on the upswing with the real estate market bringing up the rear.

With no tax credit stimulus in the marketplace this past year, we held our own.  One can conclude that compared to an artificially inflated market last year, a flat market in 2011 was a positive sign of slow but determined recovery.  At Liz Moore & Associates, we were fortunate to enjoy a positive sales trend that began in July and continued for the last 5 months of 2011.

The market is definitely favoring sellers who are positioned properly – those who are aggressively priced and in move in condition are now selling in less than 4 months on average.  This is despite 3 times as much available inventory, which won’t dramatically decrease any time soon, thanks to the continuing onslaught of foreclosures. This  underscores the importance of proper pricing, and investing the sweat equity in making necessary cosmetic improvements prior to putting your home on the market.

 Here is what I see in the coming 12 months:

Interest Rates are likely to increase slightly, although not a lot.  It’s logical to me that the basic principles of economic theory apply…so, as the economy begins to gain momentum, interest rates are bound to lead the way.  Although this is good news for our stock portfolios, it will have an adverse affect on home sales.  Although consumer confidence will increase with the recovering economy, fewer buyers will be able to afford what they want, with the combination of rising interest rates and tighter lending guidelines.  My message here remains the same as last year:  If a home purchase is on your New Year resolution list, buy early in the year, as interest rates have a much greater impact than most realize.

Consumer Confidence will grow as the economy slowly shows signs of recovery.  As we have learned from market cycle history, the first buyers back in the market are investors, and we are seeing that now, particularly in the lower price ranges.  The next wave of buyers will come as consumers realize that interest rates will rise, and moves need to be made ASAP to take advantage of what has been a 4 year streak of historically low rates.  As a result, we will see sales increase slightly over 2010-2011 levels.  The National Association of REALTORS is predicting a modest 5% gain in national sales this year.  I believe we will enjoy a slightly higher gain in our local markets, perhaps as much as 7-8%.

Foreclosures and REO inventory will increase in 2012, as the banks continue to sort through the regulatory mess that they have created over the past 2 years.  The good news is that we are much wiser and more prepared, and agents are able to guide clients through the process much more efficiently than we did when the foreclosure crisis began.  As a result, inventory levels will remain high; however, aggressively priced homes in move in condition will continue to sell in reasonable time (3-5 months).

Prices will remain stable.  Prices are neighborhood specific, and some areas are definitely balancing faster than others; however, I believe that we won’t see any dramatic changes (up or down) in our local median sales price this year (or next, for that matter).

If a move in 2012 is on your New Year resolution list, I would love to recommend the right agent to make it happen!  Just contact me at 757.645.4106 or liz@lizmoore.com.

The Liz Moore Insider is the corporate blog for Liz Moore & Associates.  Designed by Liz and her marketing team to serve as a library of resources, tools, and ideas for our agents and staff, the Liz Moore Insider offers a “sneak peak” into our company and culture.  To schedule a confidential interview or to request information about a real estate career with Liz Moore & Associates, you can reach Liz at liz@lizmoore.com, or Lynnette Tully, our Chief Online Strategist, at lynnettetully@lizmoore.com.  Or, call us any time at 757.873.2707 in Newport News, or 757.645.4106 in Williamsburg.

This is a powerful thought, and I hope you will reflect on it, as you fine tune your business plans for 2012:

 THE POWER OF HABIT

I am your constant companion.
I am your greatest helper or your heaviest burden.
I will push you onward or drag you down to failure.
I am completely at your command.
Half the things you do you might as well turn over to me,
And I will be able to do them quickly and correctly.
I am easily managed; you must merely be firm with me.
Show me exactly how you want something done,
And after a few lessons I will do it automatically.
I am the servant of all great individuals
And, alas, of all failures as well.
Those who are great I have made great
Those who are failures I have made failures.
I am not a machine,
Though I work with all the precision of a machine
Plus the intelligence of a human being.
You may run me for profit or run me for ruin;
It makes no difference to me.
Take me, train me, be firm with me,
And I will put the world at your feet
Be easy with me, and I will destroy you.
Who am I?

I am habit!

The Liz Moore Insider is the corporate blog for Liz Moore & Associates.  Designed by Liz and her marketing team to serve as a library of resources, tools, and ideas for our agents and staff, the Liz Moore Insider offers a “sneak peak” into our company and culture.  To schedule a confidential interview or to request information about a real estate career with Liz Moore & Associates, you can reach Liz at liz@lizmoore.com, or Lynnette Tully, our Chief Online Strategist, at lynnettetully@lizmoore.com.  Or, call us any time at 757.873.2707 in Newport News, or 757.645.4106 in Williamsburg.

As I’ve worked through Business Planning meetings this past few weeks, I’ve had an “aha” moment (actually, several of them).

Many of you had great plans last year that you never executed.  Good intentions, no follow through.  It’s almost like you invested time in creating the plan, and then it got buried in a pile or put away in a drawer somewhere, overcome by whatever events were pressing, and soon forgotten.  That’s partly our fault, for not waving it in front of you every month, measuring your progress against your objectives.

But, it’s mostly your fault.  In our business, success belongs to those who have the drive and discipline to do the activities that most won’t.  It’s really that simple.

Sooooo….this year, I’m challenging you to OWN YOUR PLAN.  It should be a living, breathing blueprint to help you stay on track, benchmark your progress, and by which you measure your success…weekly, monthly, and quarterly.  Not just when it’s time to do your plan again next Fall.  We promise to hold you accountable, but your promise should be to hold yourself accountable.

For many of you, your primary focus in 2012 is to implement a relationship management strategy with your Sphere and Past Clients using our Connections system.  I can’t tell you how excited I am about that – and how convinced I am that if you will maintain your enthusiasm and commitment for the next 12 months that the production growth will be remarkable.  The game changer is to implement the steps, every week.  It’s not difficult and it’s not expensive.  The only thing that can stop you is you (procrastination).  I’m thrilled with the progress most of you have already made just since Retreat – you’re off to a great start.

2012 begins NOW.  Make your own luck!

~Liz

The Liz Moore Insider is the internal  blog for Liz Moore & Associates. It was designed by Liz and her marketing team for our agents and staff, to serve as a library of resources, tools, and ideas.  Also, for our clients, prospective clients and others, it offers a “sneak peak” into our company and culture. For a confidential interview, you can reach Liz at liz@lizmoore.com, or Lynnette Tully, our Chief Online Strategist, at lynnettetully@lizmoore.com.  Visit our other virtual offices at The Savvy Real Estate Investor, The Savvy Senior, Ask a Guru, Get the Dirt, Williamsburg Neighborhoods, Liz Moore Military Team.  Or, call us any time at 757.873.2707 in Newport News, or 757.645.4106 in Williamsburg.

This morning’s mojo is in honor of Linda Molvar.  Linda and I had a running joke about my mojo, and I think it would make her smile to be the subject.

For those of you in Newport News who didn’t have an opportunity to know Linda, she joined us at Christmas time in 2009.  In the late summer of 2010, she was diagnosed with stage iv lung cancer.  She battled it courageously, undergoing exhausting chemo and radiation treatments, and if you’ll remember at last year’s Oscars, believed that she had beat it (as she claimed her top listings award for the Williamsburg office – a truly amazing feat given her health for almost ½ the year).  With carefully coiffed wigs, she was determined that no one would know she was sick, and that her business wouldn’t suffer.  Linda was very private about her illness, and fortunately supported by a small circle of close friends.

Although she wasn’t with the company very long at all, she made some very deep impressions in a brief period of time.  I learned a lot from her, and I’d like to share some Linda-isms this morning:

#1   Age is a state of mind.  You can still rule the roost at 64.

#2   You have to spend money to make money.

#3   You must list to last.

#4   St. Patrick’s Day is a day to be WILDLY celebrated.

#5   Image is important, but even divas can pull off rain gear.

#6   You can definitely teach an old dog new tricks, as long as they want to learn them.

#7   When all else fails, go gambling.

#8   The customer is definitely not always right.

#9   The true secret to success is having enough listings that you can work on your cell phone from the beach with your buddies and still make $$$.

#10  When you’re the Queen, happy hour is whenever you say it is.

Linda was truly a legend in Williamsburg real estate circles, and will be remembered for many years to come.  I feel blessed that she chose to finish her career with Liz Moore & Associates, and that she is now woven into the fabric of our company story.  I’m grateful that her suffering is over and that she’s at peace.  I know that I am joined by many of you to whom Linda was an inspiration – both personally and professionally.

A special thank you to Nan, Rebekah,  Donna P. and Diane, for their unfailing support to Linda and Henry, especially during the past few months.

The Liz Moore Insider is the internal  blog for Liz Moore & Associates. It was designed by Liz and her marketing team for our agents and staff, to serve as a library of resources, tools, and ideas.  Also, for our clients, prospective clients and others, it offers a “sneak peak” into our company and culture. For a confidential interview, you can reach Liz at liz@lizmoore.com, or Lynnette Tully, our Chief Online Strategist, at lynnettetully@lizmoore.com.  Visit our other virtual offices at The Savvy Real Estate Investor, The Savvy Senior, Ask a Guru, Get the Dirt, Williamsburg Neighborhoods, Liz Moore Military Team.  Or, call us any time at 757.873.2707 in Newport News, or 757.645.4106 in Williamsburg.

May Pending Sales Up 36% in Williamsburg and 300% in Newport News!

The news regarding real estate has been pretty grim this year…decreasing prices, so many foreclosures and distressed properties, an abundance of inventory.

At Liz Moore & Associates, we are thrilled to report that activity is up!  Despite recently posted statistics that sales were down again in the Greater Williamsburg market, we posted our best sales month ever in Williamsburg – an increase of over 36% in units compared to May of last year!

Our Newport News office enjoyed an AMAZING sales month in May, with pending units up 300% over last May! According to REIN, the local MLS, pending sales on the Peninsula increased 19+% in May over the prior year).

Interest rates remain historically low, and inventory levels remain high – making it a great time to buy a home!

The Liz Moore Insider is the internal  blog for Liz Moore & Associates. It was designed by Liz and her marketing team for our agents and staff, to serve as a library of resources, tools, and ideas.  Also, for our clients, prospective clients and others, it offers a “sneak peak” into our company and culture. For a confidential interview, you can reach Liz at liz@lizmoore.com, or Lynnette Tully, our Chief Online Strategist, at lynnettetully@lizmoore.com.  Visit our other virtual offices at The Savvy Real Estate Investor, The Savvy Senior, Ask a Guru, Get the Dirt, Williamsburg Neighborhoods, Liz Moore Military Team.  Or, call us any time at 757.873.2707 in Newport News, or 757.645.4106 in Williamsburg.

2. 1345. 1800. 

What do those 3 numbers have in common?

Cupcake Wars, of course!  2 offices, 1345 cupcakes, over $1,800 raised on behalf of the Lytle Law 5k for CHKD!

Hats off to Dewey for a FABULOUS idea, and a special thank you to our 4 dozen or so bakers who contributed the most creative and yummy cupcakes, lavishly displayed, that anyone has ever imagined!  Congratulations to Bonnie, Jennifer Stallings and Holly for your award winning efforts!  Thank you to Dulcie for capturing it all on film, and to our staff for keeping us reasonably organized and under control.

Best of all, it was a great fun day, an opportunity for everyone to enjoy some fellowship with past clients and new friends – all for a great cause.  I think this is definitely a fundraiser that we should make an annual event, so start dreaming up your cupcake creation for 2012!!

The Liz Moore Insider is the internal  blog for Liz Moore & Associates. It was designed by Liz and her marketing team for our agents and staff, to serve as a library of resources, tools, and ideas.  Also, for our clients, prospective clients and others, it offers a “sneak peak” into our company and culture. For a confidential interview, you can reach Liz at liz@lizmoore.com, or Lynnette Tully, our Chief Online Strategist, at lynnettetully@lizmoore.com.  Visit our other virtual offices at The Savvy Real Estate Investor, The Savvy Senior, Ask a Guru, Get the Dirt, Williamsburg Neighborhoods, Liz Moore Military Team.  Or, call us any time at 757.873.2707 in Newport News, or 757.645.4106 in Williamsburg.

Grayson had his first official job interview last week for a job at Outback.  I got tickled at him as he was preparing.  He asked me, “Mom, I know what my strengths are, but what do I say when they ask me what my weaknesses are?”  Nothing like a cocky kid.

It made me think about sales people, and focusing on our strengths and weaknesses.  I think we naturally tend to focus on our weak spots, and invest a lot of time and energy trying to compensate for them.  That time and energy would be better served if it were invested in figuring out how we can leverage our strengths even more.  Here is what I mean:  let’s say you’re a GREAT salesperson who has a KILLER listing presentation, but you’re awful at paperwork (yes, I realize that applies to 75% of you!).  How much time do you spend trying to figure out the paperwork, instead of just hiring someone to do it for you, and spending that hour getting in front of another potential seller.  That would be $10-$12 vs. $6,000…hmmm….

Which of your weaknesses should you let go, so that you can focus more on your core competencies which are going to make you more $ in the long run?  Are you worried (see last week’s MOJO) that your blog post isn’t perfect enough, or are you moving on and writing 3 more not-quite-perfect posts?  That not-quite-perfect keyword rich content is going to get you leads, but 19 unfinished drafts waiting on spell check and further research are delivering a total of ZERO prospects.  Interesting…a lot of our worry is tied to our weaknesses.

You all are so competitive that it is normal for you to watch each other, and come away with “I need to be more like Sally,” or “I wish that I could do X like Sally – she’s so good at that.”  And so you fret about things that come naturally to others that you wish came naturally to you.  Instead, you should be reflecting on your own strengths, and asking yourself how you can spend more time doing the things that you’re really good at, developing and leveraging your own natural talents.  My mom always told me that “well rounded has no peaks.”  She was right, and I have found success by cultivating my strengths, and minimizing my weaknesses.  Had I spent the last 25 years trying to get better at my weaknesses, I would have missed many opportunities to win.

I am proud to report that Grayson got the job.  He had to take a 75 question personality test, but he was relieved they didn’t ask him what his weaknesses were.  He was prepared, though…he decided to say “math.”  Heh, definitely my kid.

Spend some time this week identifying the 3 or 4 things that you are really good at, that are competitive advantages.  Then, figure out how to spend more time doing them.

I have an opportunity in a few weeks to address a group of high school students that are part of the Achievable Dream program in Newport News (www.achievabledream.org, if you’re not familiar with the program).  The program’s founder, Walter Segaloff, invites a different business leader each week to address the students for 15 minutes to talk about a word that is selected from a list of about 50 values that contribute to success.  After giving it a fair amount of thought, I chose ENTHUSIASM.

While there are many values that contribute to success (integrity, determination, ethics…), I believe that enthusiasm is a game-changer.   There are a lot of people who have integrity and ethics who are not successful.  There are plenty of people who are determined to succeed, but don’t.  But, when I think of people I know that I would truly describe as “enthusiastic” (and, interestingly, there are not many),  they are not only not successful, but also happy – which is a pretty powerful combination.

We’re naturally drawn to enthusiastic people…they’re contagious.  They stand out, in a world where we struggle for differentiation.  They exude confidence in their passion, which in turn influences us to do business with them, to contribute to their cause, or to buy what they are selling.

Enthusiasm is free.  And, if you don’t come by it naturally, you can fake it until it catches hold.  Try this:  pick a part of your business where you would like to improve your performance…perhaps it’s a listing presentation, prospecting, or converting duty calls.  Examine your current presentation.  Now, turn up your enthusiasm by about 25%.  It may feel weird at first, but trust me, it will pay off.  

How do you “turn up your enthusiasm?”  Easy.  Dictionary.com defines enthusiasm as “lively interest.”  You exhibit interest with eye contact, active listening, and agreement (nodding, smiling).  Synonyms are warmth, zeal, passion, devotion.  Whether it is your marketing strategy, or an appointment…ask yourself if your prospect can feel your passion for what you’re selling?  If they can’t, then kick it up a notch as Emeril likes to say.

The true answer for most salespeople is the soft fuzzy one (and darn proud of it!).
You all remember Aesop’s fable…the tortoise wins —eventually.

If you look at the behavior and personality of the two it’s not hard to see why. Hares are quite often undiagnosed ADHD, Ritalin-deficient go-getters that are constantly looking for either a) their next adrenalin high, or b) the next bright-shiny object / silver bullet that will promise to deliver it. They confuse the distinction between strategic and tactical, and a well-defined “process” is something that gets in the way of all that sense of urgency they literally thrive on.

The tortoise however focuses on measured steps that will eventually take them to their objectives. Their path is strategically well planned and they are comfortable with the fact they will not get there overnight. “Slow and steady” is their motto as they put blinders on to avoid the glint of all those bright shiny objects that promise quick results.

Tortoises stay focused, calm and resilient. Hares are easily distracted, get tired and often give up on systems before they’ve had a chance to work.

Now you may protest that the hare has a lot more fun. Well… that depends upon how you define “fun”. Chaos can seem like fun for awhile, until it isn’t any more. A long-term consistently growing, financially profitable business —now THAT is fun!

Be a tortoise this week!

Go On…Make Someone’s Day.

A few weeks ago, I got a note from a transfer agent that made my day. Actually, that’s not true…it made my week. Someone made the time to stop and write a note that expressed a very positive thought…it probably only took that person 10 or 15 minutes, tops. But, I’m still thinking about how much I appreciated that gesture…it really made me feel good. I’ll keep that note in my victory box, and go back and read it when I’m having a tough day. The sentiment not only cheered me up in the middle of a hectic day, but it really touched me…it made me feel valuable…it gave me confidence. It created a small, but special, bond between me and the sender. I will remember it, probably for a very long time.

Wow, what a powerful thing that is. How cool that something as simple as a thoughtful note can have that kind of impact.

What would happen if we each invested 10 or 15 minutes a day in setting aside the time to make someone else’s day? What if we worked at being more aware of opportunities to pay a genuine compliment, to lend a hand, to go out of our way for no other reason than to please someone else?

I have always been a believer that what comes around goes around. Usually, that saying is interpreted to mean that someone who does bad things will get their due at some point in the future. But…could it also mean…that good things happen to good people? Hmmmm.

My goal this week is to pay it forward. And, to that kind person that took 10 minutes out of their day to make mine, you know who you are…and, thanks!