Julia Mittelstadt, Coldwell Banker Gundaker, St. Louis, Missouri
Sellers
1. First and foremost it is always the price! Smash that into your brain, don’t argue yourself out of it. It is always, always, always the price!
2. Check and re-check your CMA, look at the numbers from all angles. When looking at comps, don’t go back any more than 6 months, 3 is even better. Watch seasonal factors.
3. Remember that buyers want a great deal, so price it well. Most buyers want to avoid work, they want to move in and relax. Most folks are so busy working they just don’t have time. Don’t by into the argument “But they won’t like my decorating.” Even if their tastes are slightly different, they don’t want to have to update right away, so make as best as you can.
4. Know your marketplace tastes so you can advise. For example, I sell in historic areas - Pergo flooring is not considered an upgrade but rather a hindrance to selling. Wood floors, especially original flooring from the 18th or 19th century are a “delicacy.”
5. Be up front with people, don’t lie, they appreciate it. I just got a listing at $10,000 under the price the other agent said. I backed it with facts and they could see I was telling the truth, empathetically.
6. Market the h*ll out of it. You need it and they deserve it. Now is the time we earn our keep. Go to your company and negotiate for more, they should participate too! Push for those full percentage listings. Use Craig’s list, expresscopy.com and other resources for easy exposure. Many city or neighborhoods offer free or low cost exposure for your listings, look them up, use them! Don’t forget to sell the benefits of the neighborhood. This is not the time to cut back, it is the time to push forward. Soon many of those agents that got into the business during the hot market will bail when the going gets tough.
7. Make sure your listings have the “Wow” factor. It needs to in order to compete. It has to be the price or the look or both!
8. Expired’s and FSBO’s - prime time! Forget do not call, just mail like crazy - negotiate that postage with your broker, it’s a tough market for him/her too.

Buyers
1. Buyers are the same to me whether it is an up or down market. I have to like them, why in the world would I hang out with someone I don’t like for months as we close their transaction? That is my definition of “H*ll.”
2. Check motivation very carefully. If they say anything to the effect of “I heard it was a terrible market and I will only offer 20-30% less than asking price I turn around and walk - no run away! Unless of course that makes sense in my market - but it doesn’t and has never. Ask yourself this - do you want to work with the few bottom dwellers or the motivated folks who want to buy a house? They are there guys, attract them they’ll show up.
3. Advertise on the web, if you are not doing it, do it now, hire yourself a web guru with proven results and market, market, market. It draws in more buyers than you might guess. Like everything we do there are bogus leads so qualify, qualify, qualify. Remember you are looking to see if they fit YOUR buyer profile not the other way around!
4. Hire someone else to do open houses if you hate them, unless they are in my neighborhood, then they are tolerable. So I either hire my assistant to do them or attend together with her - that way we can meet more folks and do catch up stuff if it is slow. Plus she’s a hell of a lot of fun and anyone who knows me knows if I’m not having fun, I won’t do it!
That’s all I have for now, hope it helps. Julia

The ONE and ONLY Bill Higgins of Buffalo NY.
Thanks Bill for stepping out of retirement to send us an answer. We love you too!<br> TOBY YOU KNOW THE SIMPLE ANSWER IS ALWAYS BACK TO BASIC'S. MORE OPEN HOUSES (TRY DIFFERENT TIMES & DAYS), GIVE YOUR CHILDREN TONS OF YOUR BUSINESS CARDS TO PASS OUT AT SCHOOL SO OTHER KIDS TAKE THEM HOME TO MOM & DAD,MAKE THOSE PHONE CALLS TO YOUR SPHERE'S (15-25 A DAY) WHO DO YOU KNOW ETC., JOIN/VOLUNTEER(CLUBS-ORGANIZATIONS-PTA- BLOCK CLUBS-YOUR POLITICAL PARY, HOST A NEIGHBORHOOD BAR-B-Q. (HOT DOGS,POP,BEER) IT DOSEN'T HAVE TO BE TOP SHELF, HOST A FOOTBALL PARTY, JOIN A MENTOR GROUP OR FORM ONE, DON'T GIVE UP ON FSBO'S, HELP A BUILDER (MEET THEM FOR A.M. COFFEE), GO TO FLOYDFEST, GO TO VEGAS NEXT WEEK WITH THE LOBSTER HATS. BY THE WAY MY WIFE & I WILL SEE YOU THERE, GO TO NAR & TRI STATE CONVENTIONS. TOBY IT GOES ON & ON JUST STOP TALKING ABOUT IT & DO SOMETHING ABOUT IT. LOVE YA, HUGS & STUFF - BILL

Susan Donnelly, Prudential CT Realty, Hartford County, CT
Well, my answer may sound old and familiar but......BACK TO BASICS!!! The skills that many of us learned before the most recent boom are, once again, needed for a strong business. Yes, even us more veteran agents need to go back to basics in my opinion because our business' will not grow at the pace we want and the newer agents will not have a business if they don't! I actually am taking Starmakers for the 5th time! My last time was 5 or 6 years ago (Sweathogs). "When the going gets tough, - the tough get Back To Basics!" Hope all is well with everyone!

Rick Rosen Broker/Owner Emporio Casa Real Estate metro Detroit Michigan.
According to our MLS stats we will have dropped from a 32% multi- list wide success rate in 2005 to under 20% by the end of the year 2006. What does this mean? To me an opportunity to make more money than ever before. Sellers that have to sell are willing to pay higher commission rates for recession experienced agents that know how to move property in hard times. Sellers who would not normally use full commission brokers ie builders are open to anything that will move their stagnant inventory. Investors are looking to buy more than ever to take advantage of falling prices. So the answer is for us to identify where the cheese moved and be the first ones there. Good luck and happy hunting!

Pat Tasker, Shorewest REaltors, Milwaukee Wisconsin
This is a conversation I have with every potential seller - ESPECIALLY if I know they are interviewing other agents who are in the business a short time(you know this asking the right questions):
"Mr. & Mrs. Seller, right now over 50% of the licensed agents in our state are in the business less than five years. The interesting thing is that for the last five years, with the incredible market we HAD, agents were "order takers". Listings were flying off the shelf! (visual, a sweeping hand gesture). Now that the market has changed, agents are realizing that some real skills are needed: Marketing and negotiating! That is why you need an agent who has been at this awhile and really knows how to SELL homes. An agent who has designations and has some real marketing expertise. Can you see that is how you will get your home SOLD, as opposed to just listing it?"

Jo Breneman, SK Real Estate, Inc., Richland, WA
Answer: Call everybody in your contact database (well, maybe not everybody, but your sphere is a good start) and FORD them (ask about Family, Occupation, Recreation and Dreams). Perhaps you'll find out something you missed before, and then before you hang up (like Floyd recommends) ask for a favor. "Oh, one more thing..." "Do you know someone who is looking to make a move now or in the near future?" "I promise to provide the same great service to others that you received from me: you know, red carpet, no pressure, treat em like family..." Now, pin down a name or a contact from their workplace, church, family/friends and ask them to call them and put in a good word for you or get the prospects name and number. If no name is on the tip of their tongue, ask again to be remembered everytime they talk real estate.

Michael Boudreau , McColly Real Estate ,Highland, Indiana
I feel the best way to survive in the changing market is to PICK UP THE PHONE, don’t wait for it to ring - make IT ring!!! Most of my business is coming from going after FSBO’s. In the market that we’re in they are having a difficult time getting their homes sold as well. So it is my opinion that everyone need not be “afraid” to pick that phone up and prospect to your hearts content or until your contentment is making you the money that you are accustomed to making. I hope all will start to do better in this wonderful business we are in.

My mission is to have our website and our newsletters be a source of answers and strength to the newcomer and old timer alike.

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Meet Toby Davis ~ Creator and Coordinator of the eMentors and eMentor connection. Toby Davis has been a Realtor for over 30 years, and resides in Charleston, SC. where she is part of the great Keller Williams Real Estate group. Creator of Master-E-Mentors and coordinator of eMentor Connection, Toby's mission has been to serve her fellow agents through her newsletters, personal phone calls, group meetings at events and email with inspiration to educate, enlighten, encourage and empower all of us to live ~ as Toby says ~ "Our BEST LIFE!"

From ME to You - LIVING YOUR BEST LIFE!

To me, living your BEST LIFE is about what makes your heart rate kick up a few notches, what gets the adrenaline rushing through your bloodstream. We are pushed in all directions to succeed, and often get caught up in the pursuit of the everyday business of living, not realizing that it is not in alignment with what we really want. We must never lose sight of our dreams and goals. From all I see about life, we get ONE SHOT at this great event and each decision turns you to a different path never to return to the minutes and seconds we gave up by not heading in the other direction. I hope you will pursue your "BEST LIFE" with all your heart and soul because that is all there is; anything less, to me, is cheating yourself.

Toby Davis
Keller Williams Charleston
Charleston, SC
(843) 224-5979

On the Web: Toby Davis and the Charleston Team

email: tobydavis@tobydavis.com

phone: 843 414-1814

web: http://www.tobydavis.com