Jeffrey David Halpern

Gary:

Use the bucket theory.

Describe the market as a bucket (Use an actual bucket or at least a diagram). The home prices are still not at the bottom of the bucket but heading that way and probably close to 1% per month (look at your local stats for accuracy). At some point, probably in the next 6-9 mths, the prices will hit bottom and stay there for awhile. Probably for the next 2 years. Then will go up the other side of that bucket, reaching what they are asking for now probably in another 2-3 years later. You are looking at 4-5 years from now.

The question the seller has to ask themselves do they really want to sell or do they want to continue to chase the market while it continues to recede, wait until they pric comes up to where they are now (1-3 years) or be done with it, move on, and take advantage of buying a home at a very favorable price.

You are the person they hired, be firm with them, you are the expert. You may also want to get your Broker involved to explain the same to them. The reason being, and because being a broker myself for years, have experienced it and been successful, is that you have been married to these clients for months. You do not want to hurt their feelings and they are probably thinking that you just want to lower it to make a quick buck. Using a third party (and by the way, do it in your office, it makes it a business decision for the seller), gives it another perspective, another voice, and a managers experience, to say the same thing, but in a direct way.
It works 90% of the time. And it has nothing to do with your experience or professionalism. It is validation from YOUR MANAGER.

If you cannot get that help from your manager, get another agent in the office to help (not as effective) and if there is no-one in that office that can assist - change companies and get a non-competing manager that can. An effective manager can assit you in making 5-10% more deals per year.
Good luck and let me know your thoughts. - Thu Nov 6 2008, 09:11

The answer is a resounding YES. With print advertising going away, you must justify your fee for service. Besides that exposure is the number 1 reason why a seller hires you.
The other advantage is that if your sites can pinpoint hits and market activity directly to the seller, similar to Prudential's Online Seller Advantage (OSA), the seller recieves the info. automatically, and therefore, your job to get that price reduction, makes it so much easier.
The other advantage is being able to get leads for the property to you on an instantaneous basis. It works for you and for the seller also. A great tool being BETA tested with Prudential New Jersey Properties, only, is REALTOR.com's 1st responder in which the listing agent gets texted and emailed any leads in an instant when there is an inquiry on their listing. AND WITH NO REFERRAL FEE ATTACHED TO IT - NONE.
I believe an agent needs to look at the companies that can provide their associates as many sites as possible for their listings with feedback and instant response system and with little or no cost to the agent, especially in the current market we are in. Prudential is the answer.
Looking for a career change or just a change? Please visit:
http://www.prunewjersey.com/pages/careers.cfm - Thu Nov 6 2008, 08:51

If you are in NJ, you must disclose paranormal existence within a home. - Fri Oct 31 2008, 09:08

I would choose the one that best fits your lifestyle. All have good schools and easy NY access thru trains, buses or highways. All will have the same rate of resale and all will rent.
Flip a coin. If you need assistance, I can refer a great agent in the area for you to consult.
Jeff Halpern
973-538-5555 - Tue Oct 28 2008, 14:03

I wouldn't buy from George. George, how can you consult your clients with an attitude like that. People need to live somewhere and they need us Realtors to get them there. Be positive no matter what the market. The market is the market, it is how you adapt that will either make you or break you. It seems to me you may be at the breaking point and a new career should be considered. It is a great time to buy.

Lisa: What are your needs? Look at that first. I wouldn't worry about the results of the election. Everyone needs to live somewhere and if you can afford to buy at this time and you have found the home you want and plan on being there for more than five years, do not fret. The prices are low, the inventory is high, the mtg rates are favorable and owning a home is still one of the best investments. Plus you live there and enjoy it.
There is nothing better.
Good luck. - Tue Oct 28 2008, 13:59