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Altera Performance Group - New Media Marketing & Technology

I thought about doing an interview with a financial planner for this blog but in the end I’m not sure that would really accomplish much. Just Google “Financial Tips” and you’ll find all you need. Instead, I think having conversations and getting real about the issues at hand is far more valuable.

As I look at the crumpled tube of toothpaste I wonder what it’s going to take to prosper from and through this time. I say prosper “from” because I do believe that there will be a time in my future where I’ll look back and say, “Yeah 2008 really sucked but it forced me to do ‘X’ and now look where I am.” And I suppose that’s the point; doing “X.” The thing, stuff, whatever, that we’ve been keeping on the back burner because times were good and we didn’t need it. It’s now about thinking and acting more aggressively and proactively. Maybe this is the way to have been all along. Squeezing the toothpaste tube only goes so far and finding motivation to not just sit still & get run over is a far better option.

So I’m dusting off some old ideas & creating some new ones that hopefully add great value. And my bet is that in this time people are more accepting to look at things in a new way. They have a lot less to lose and I’m betting that anything geared toward easing the pain and creating more business is welcome. We’ll see.

So how about you? What’s been on your back burner? Could it be simple stuff like learning to touch-type or that client relationship management system you’ve always been meaning to create. How about your bookshelf? How many books have you been meaning to read but never found the time? I wonder if you have the time now.

Altera Performance Group - New Media Marketing & Technology

Click photos to enlarge.

Kitchen

Living Area

Kitchen

Living Area

Bedroom

Stone Detail

Island Counter Detail

Vanity Detail

Altera Performance Group - New Media Marketing & Technology

So what are you going to do differently NOW to be more prepared when this happens next time? How is your business model going to change so that next time we hit a down market (and we will) you’ll be better prepared? It’s too late to do anything now. You’re not suddenly going to find the silver bullet. For many this is a time for survival. Better to look to the future and begin to change things.

Many brokers will go out of business; the opportunity seekers who only got in because they thought it would lead to quick money will, hopefully, be the first to go. The real estate community will be better off when they “tap out.” Others will panic & suffer while they work another job and try to ride out this storm. A small few will continue to do well. That got me thinking about what it means to and what leads to success in real estate. I think most brokers fit in one of these buckets:

1. The Cheapest

2. The Middle

3. The Longest

4. The Best

Being the Cheapest

There are some who have found a niche by being the cheapest. Time Value Real Estate & Help You Sell are two examples. But there’s a fundamental problem with being the cheapest in real estate. Being the cheapest is predicated on being able to cut out inefficiencies in the industry so you can offer the same service at a lower price and still make a profit. Dell Computer did this really well for a while. Inevitably that advantage gets eroded over time as your competitors cut out their inefficiencies and soon your advantage is gone. You’re left with a cheap brand that no one wants in their front yard and no way to make a profit. After Dell optimized their manufacturing and logistics as far as it could they then cut corners on quality and customer service. They lost a lot of customers, market share and brand equity. In the long run being the cheapest rarely pays off.

Being in the Middle

“Average,” “crowded,” “staid” and “hopeful” are a few adjectives to describe brokers in the middle. They don’t do anything bad but don’t do anything exceptional either. They play by the rules, and hope by sheer luck that a deal comes their way. They hop from company-to-company hoping that they’ll be exposed to a little more “market share.” Or they plod away year-after-year doing the same thing hoping for the big break. This is a tough, crowded spot to be in and the majority of brokers will always be here. This is the land of mediocrity not success.

Being in the Longest

Right or wrong, many attribute “time in grade” as the primary driver in choosing a broker. They want the person with the “most experience” the person who’s been in real estate “the longest.” Not much you can do here. You’re not going to add 20 years to your resume overnight. So that leaves the last option.

Being the Best

Being the best may have a lot of interpretations but I think they all lead to one conclusion. Clients see you as a “trusted advisor” that’s a resource beyond real estate. Being “the best” calls on you to question the status quo, rules of thumb, and traditions. Being the best means you solve problems, not simply place an ad in Homes & Land. It means constantly improving & learning new things. Being the best means that what you tell a client and what you actually do match. Being the best means that you sacrifice short-term profits for long-term reputation. You become a trusted advisor that transcends mere real estate transactions. Real estate almost becomes a secondary issue in the minds of your clients and friends. The benefit is that when all hell breaks loose your trusted advisor reputation provides much more insulation.

You are your own best asset whose value is directly tied to your own self-improvement and reputation.

The real estate industry is in a huge state of change and that makes a lot of people nervous. The “risk averse” are shaking at the thought that everything they’ve been relying on is fading into obsolescence. Meanwhile others are blogging their way to the top of Google, approaching real estate in a fundamentally new way, adding value as never before and are reaping the rewards. So what would it look like to begin to make small changes? What if you started today? What would happen if you spent $100 less per month on print and $100 more on new marketing techniques? Start a secret blog, Google yourself, hire a consultant, learn what RSS means, upgrade your computer, keep a journal. Start small but move the f’ing ball forward!

You are your own best asset whose value is directly tied to your own self-improvement and reputation. Those who are truly the best naturally practice this whether they realize it or not.

If you’re not committed to being the best it’s ok.

Go ahead – “tap out.”

Altera Performance Group - New Media Marketing & Technology

Over 85% of home searches START online and these companies clearly don’t care. What an opportunity for those who do.

Click on an image to enlarge.

(If you are reading this in a news reader or email click here to see the large photos)

Steamboat Real Estate

19 Months Ago

Now

Colorado Group

19 Months Ago

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Old Town Realty

19 Months Ago

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Pam Vanatta

19 Months Ago

Now

Ken Gold

19 Months ago

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Buyer’s Agent

19 Months Ago

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Buyer’s Resource

19 months Ago

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Re-Max

19 Months Ago

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Lisa Olson

19 Months Ago

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Sotheby’s

19 months Ago

Now

Altera Performance Group - New Media Marketing & Technology

You may need to watch it twice:

Click here to view the embedded video.

Getting people to talk & share your message (as is happening here) is a marketing home-run in today’s world. Approaching a topic from an unconventional and entertaining point of view can be a risk but can also be a key to getting your message noticed.

Altera Performance Group - New Media Marketing & Technology

In this interview longtime Steamboat resident and real estate guru, Bruce Carta, talks about the current market, opportunities and pitfalls.

Click the green button to play (24 minutes):

Contact Information

Bruce Carta
Land Title
Email:bcarta@ltgc.com
Phone: 970-870-2822

Click to download the Steamboat Real Estate Market Report for July 2008

Contact Bruce to get the current report.

Got an iPod?

Get this interview in iTunes:

Altera Performance Group - New Media Marketing & Technology

Trulia on your iPhone

Originally uploaded by trulia

Here it is. Location aware real estate search in your pocket, on the go.
One more tool that empowers buyers.
More info here:

www.trulia.com/mobile

Altera Performance Group - New Media Marketing & Technology

From a project we’re working on. You are not alone.

Altera Performance Group - New Media Marketing & Technology

It’s free so download it, read it, copy it and give it to a friend in need!

Alterations – Selling Steamboat

Altera Performance Group - New Media Marketing & Technology