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Looking Back and Looking Ahead

By RE/MAX of New England - Last updated: Tuesday, January 3, 2012

By Jay Hummer

When I reflect upon 2011 I can’t help but think about what a tremendous year this has been for our organization. As the housing market continues its slow march back to stability, RE/MAX of New England agents have yet again proven why we are both leaders in the real estate industry and in the community.

Over the last 12 months, RE/MAX agents have outperformed the competition by closing on more transactions than any other real estate organization in our region. While this continuous track record of successfully serving our clients is reason enough celebrate, it’s not what I’m most proud of.

I’ve said it before, but it’s certainly worth repeating. What makes me truly proud to lead RE/MAX of New England is our involvement in the community. Through the Home Court Program with the Boston Celtics, three lucky winners not only had their driveways decked out with a Celtics-themed makeover, but they also got to play hoops with their favorite players. Another lucky family won a Patriots-themed room makeover and played catch with Danny Woodhead and Zolton Mesko as part of our RE/MAX Takes You to the House contest.

RE/MAX agents also proudly represented our organization at many Susan G. Komen Race for the Cure events this year, and our partnership with the Children’s Miracle Network resulted in a donation for every transaction by our agents who participate in the Miracle Home® program.

2011 will likely be remembered for historically low interest rates. Interest rates flirting with the four percent range, along with slight price decreases, have helped to keep first time home buyers, investment buyers, and others active despite the sluggish economy. Because of this, many agents have reported an increase in year-over-year sales compared to 2010.

So, what does 2012 have in store for us? Right now, we are putting the final touches on our 2012 Trend Outlook Report, which will be released later this month. But, what I can tell you right now is that we expect interest rates to remain at or near historic lows after a promise by the Federal Reserve. This is a good sign, and a step in the right direction.

Without any artificial stimulus — like the federal tax credit for first-time home buyers offered a few years back — keeping interest rates low is an important key to unlocking a meaningful economic recovery. It will encourage buyers to remain active, and as we all know, a stable housing market is a cornerstone of a healthy economy.

Although 2012 may look a lot like 2011 right now, remember that each New Year brings a wealth of new opportunities. Take advantage of each one, and remember to continue to give back to your community. By doing this, we will make this year better than last.

Happy New Year.

Jay's Peek
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Surviving the Winter Doldrums

By RE/MAX of New England - Last updated: Monday, December 5, 2011

By Jay Hummer

There’s no way around it: winter is the doldrums for real estate, especially in New England. Fewer homes go on the market and fewer homes change hands during these harsh, cold-weather months. But, that doesn’t mean demand for real estate dries up all together. As home prices continue to remain very affordable and interest rates stay near historic lows, I believe this winter is capable of creating a flurry (pardon the pun) of activity.

New England has already started to experience the annual winter slowdown. Our Monthly Housing Report examining home sales in October showed relatively flat year-over-year sales. The median price also declined year-over-year, as sellers aggressively priced their properties to attract interested buyers before many went into hibernation until spring.

Sellers will soon begin grappling with the important decision of whether to leave their home on the market for the winter, or to take a break in hopes of a fresh start when nicer weather returns. Some may have already made up their mind.

This is a great opportunity for our Broker/Owners and agents to take full advantage of all of the tools available to them to remind everyone why RE/MAX agents are the best in the business, and why RE/MAX agents sell more homes than any other organization — regardless of the time of year.

As interest rates remain near-all time lows, the market conditions that are in place are poised to be a major motivator for first-time and investment buyers this winter.  It’s our job to capture their attention.

How can we do this? Think back to our Fall Agent Rally, and bestselling author Todd Duncan’s BLAST OFF philosophy. Todd, the Chief Performance Officer at Prospect Mortgage, called on each of us to tap our inner potential through:

 Belief

Love

Attitude

Strategy

Trust

Organization

Failure

Fun

Some of the highlights of BLAST OFF include belief fuels enthusiasm; love what you do and the money will follow; and there is a big difference between being busy and being productive. If you follow his philosophy, you are already at a major advantage.

Also, utilize all of the tools at your disposal.

If you have a prospective client who is on the fence about listing their home in the cold weather months, use the brand new RE/MAX Presenter application for the iPad and iPad 2 that is now available through Design Center. While I can confidentially say our results as an organization speak for itself, the RE/MAX Presenter app is a powerful new tool that provides a visually stunning presentation to accompany your pitch. It could be just what both parties need to confidentially decide this is the right time to list.

If you have a client who wants to take a break for the holidays, remind them why they chose to list with RE/MAX in the first place. Dig deep into the bag of tricks available exclusively in Design Center to create the perfect, personalized marketing campaign to best show off their property.

Design Center is an incredible resource. It contains more than 2,400 RE/MAX branded marketing materials that allow for the easy creation of virtual tours, vignettes, flyers, postcards and so much more. Many of you are launching your own social media efforts, so don’t forget that the personalized materials you create with Design Center are compatible with Facebook, Twitter, YouTube and your own websites!

Homes don’t sell by themselves. If they did, everyone would be a real estate agent. It’s hard work, but it is gratifying work, too.

As we here at RE/MAX of New England begin to assemble our 2012 Housing Market Outlook and Forecast which will be released in January, I am confident that if you remember Todd’s BLAST OFF philosophy, and use all of the tools available to you as a RE/MAX agent, you will not only survive the winter doldrums, but you will also sell more homes in 2012 than in 2011.

Jay's Peek
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As Temps Drop, Let’s Make Home Sales Rise

By RE/MAX of New England - Last updated: Monday, November 7, 2011

By Jay Hummer

Each morning seems to be just a little bit chillier than the day before, New England’s brilliant foliage is at its peak, and we’ve already seen our first snow. November has arrived, and while the mercury is slowly dropping, we at RE/MAX of New England are optimistic that we can make home sales continue to rise.

Sometimes it’s difficult to remain optimistic about the housing market’s recovery. But, right now, there are positive signs all around us. We need to look no further than the latest RE/MAX of New England Monthly Housing Report.

Our Housing Report shows that home sales have continued to rise for three consecutive months. It also revealed that home sales are once again rising from year to year. In fact, September 2011 showed a 3.5% increase in sales over September 2010. Inventory is also down, which means we can expect prices, which have been down slightly or holding more or less steady, to begin creeping up.

A continued recovery in the housing market is important for many reasons. Chief among them is that a healthy housing market with stable prices is key to a sustained economic recovery in all sectors. These thoughts are echoed in a recent Boston.com article about the Greater Boston Housing Report Card 2011.

According to the authors of the study, the slow recovery of the housing market is actually a driving force behind the slow recovery of the economy. Until the housing market begins to pick up, the authors say high unemployment is likely.

This belief is nothing new, especially here at RE/MAX of New England. We have long advocated the importance of home ownership in the community from both a civic and a fiscal standpoint.

At the end of October, the Federal Government announced a new initiative to help jumpstart the housing market. The new plan consisted primarily of a major rule change that now allows homeowners who are underwater on their mortgages to refinance as long as they are up to date on their payments. It will help an estimated one million families.

That’s a start, but according to a recent article on CNN.com, there are another ten million hardworking families in need of mortgage relief. Also, the plan does not include provisions to help those looking to buy or sell their home.

As I’ve previously discussed, there are young couples, professionals, and others who are trying to purchase homes right now, but they are being turned away by the banks. Whereas they may have been qualified for a loan several years ago, tough new credit requirements now have these potential buyers locked out of the market. That is why any meaningful effort to stimulate the housing market must make it easier for these qualified buyers to follow through with a purchase.

So, in the meantime, what’s a real estate agent to do? My advice: exactly what you’ve been doing. Last month’s Fall Agent Rally reinforced that RE/MAX of New England agents are the best in the business. You sell more homes more often than other agents in the market. Your knowledge, enthusiasm, and commitment to the community make you a cut above the rest.

Home sales continue to rise a little bit each month. It’s our job to work hard to continue this trend. I encourage anyone who needs a little inspiration to remember the story of Christopher Gardner, our keynote speaker at the Fall Agent Rally. If you set your own goals, and hold only yourself accountable, as Chris did, you will see the same success. If we all do that, then home sales in New England will continue to rise even as the temperature drops.

Jay's Peek
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