When buying a home, should YOU have representation?
In the State of Texas a real estate agent can represent either the buyer as a buyer’s agent, the seller as a seller’s agent or with permission of both parties can act as an intermediary. I’m going to be talking only about YOU as a buyer.
Here are some of the benefits to YOU in having a buyer’s agent! These are legal issues that a buyer’s agent is bound by.
• The agent will have a fiduciary responsibility to YOU. Your interest will be held above anyone else’s in the transaction.
• Loyalty only to YOU, fairness to all parties.
• Anything you tell YOUR buyers agent in confidence will remain confidential forever.
• Anything that the buyer’s agent learns about a seller’s motive for selling or that would be germane to YOUR decision in what YOU might offer, or if YOU will even make an offer has to be disclosed to YOU.
There should be NO COST TO YOU in having an agent represent YOU. The El Paso real estate market will be easier to navigate with the help of a buyer’s agent, so provided YOU feel that the agent is a good fit with YOU and they understand YOUR particular needs, desires and time table for purchasing, my recommendation is have the benefit of representation.
When an agent represents YOU they anticipate that YOU will sign a representation agreement that states YOU will be loyal and work with them exclusively. What if after a couple of hours, or days, YOU realize this isn’t the right agent? (The agent can also come to this conclusion about a buyer and in that case the agent is probably going to fire themselves, while rare, this could happen.) YOU have a safety net in that if YOU selected an agent that is a confident, knowledgeable professional, they should add verbiage to the buyer’s representation agreement stating, “That if for any reason YOU are not satisfied with their service you can cancel the agreement”. At this point YOU both have an out of the agreement. If they are not willing to do this perhaps YOU do not have the right agent.
Let’s talk about the additional services that you should expect when YOU are being represented.
• The agent is working on your behalf and should demonstrate that they understand it is YOUR hard earned money that is at risk.
• The agent will make YOU aware of the properties that meet YOUR stated criteria after listening to all your needs.
• The agent will encourage YOU to ask questions and assure YOU there are no dumb real estate questions.
• The agent will walk YOU through the entire buying process to ensure that YOU understand each step and the potential hazards at each juncture. The agent will explain what they will be doing to ensure that it is a seamless transaction.
• The agent will have an “A” team, consisting of coming together to make your closing happen and on time. The agent develops trust and confidence in their team through their experience with many prior successful transactions.
• Helping you understand the El Paso real estate market is one of the critical responsibilities of a buyer’s agent.
• The agent will attend the closing with you and will have secured the closing documents, or at least the closing statement, before closing, thereby insuring there are no surprises at the closing table.
• Bottom line ordinary service is what you should always expect, extraordinary service, is what a good buyers agent brings to the table. Positive experiences that you did not expect. It is the subtle details that make closings flow seamlessly, effortlessly and smoothly.
Remember that every agent and agency is going to adhere to their legal responsibilities. Where you need to be selective is in those extras…the “extraordinary” services!
Tuesday, March 2, 2010
Tuesday, February 23, 2010
Price Reduced (Not a good thing)
Reduced!
How many times have you seen a reduced rider that seems to be ready to fall off but instead is just hanging on a For-Sale sign on a property?
If you’re a seller don’t let your agent do that to you. In my opinion “Reduced” signs sends the wrong message. It’s a message of desperation and puts you, the seller, at a disadvantage.
Agents should know better! If the home was overpriced or you’re selling in a declining real estate market and your agent is now telling you that a price reduction is needed, lower the price and make the changes through Multiple Listing Service (MLS).
Print new feature sheets -don't cross out the price and hand write the new one!!
Don’t advertise to the world that you’re now desperate.
While many real estate markets a cross the country are crashing, El Paso's real estate market has not plummeted. Slowed down yes! in some price ranges and areas more than others. The future for our housing market should be bright and all indicators point to that.
Follow my blog and I will keep you updated on why I'm optimistic about our housing market.
Monday, February 22, 2010
Economic drivers
Economic drivers!
I will never again forget or underestimate the impact on our economy that is created by the jewel of higher learning that sits on the mountain overlooking the Rio Grande!
I’m not sure how many times I have mentioned that the main economic drivers in El Paso are:
• The growth of Ft Bliss
• Medical School
• The Research center that accompanies it, and of course the
• Downtown revitalization.
There is another driver that is not spoken about much and should….It’s UTEP and its march to becoming a Tier One University, considering that the definition of Tier One is generally a University that is spending $100 million in annual research, that is twice as much as UTEP is now spending.
It’s commonly stated that every great City has a great university as its foundation. One cannot overlook the impact that UTEP currently has on El Paso’s economy, and our real estate market. UTEP has an operating budget for 2010 of $335 million and 6,577 jobs are attributed directly to UTEP being here. The $250 million in Construction that is currently happening at the university has had a big boost in our local economy.
The purchasing of supplies and all the intellectual capital that UTEP brings to the region has a huge economic impact on El Paso already. There are thousands of people employed because of the University. Currently the annual research spending at UTEP is around $52 million. As a Tier One University that $52 million would double and it’s easy to see what an immense economic catalyst that would be.
There will be more professors, students, building, supplies purchased, bigger payrolls, and more demand on our El Paso real estate market. Achieving Tier One status at UTEP in part has to become a community effort! The business sectors along with individuals need to realize all the benefits that this will bring to the region. An investment in UTEP is an investment in the future of our community.
So let’s not under estimate the “Jewel” of higher learning that sits on the mountain overlooking the Rio Grande,” UTEP”.
Saturday, January 16, 2010
In the Cross Hairs!
In the Cross Hairs!
Thousands of soldiers and their families are coming to El Paso, most of these families will be young and most of them will be renters. All the soldiers get a Basic Allowance for Housing (BAH) some will get less some will get more on average that allowance will be around $979.00 per month, this allowance is for rent and utilities. Take away the utility allowance and their left with about $790.00 for a mortgage payment or for most of these soldiers for a rent payment. Average rents in El Paso today are around $700.00 per month; The El Paso real estate market has always included a strong rental market.
Here is where it gets interesting; these Soldiers will start arriving in mid 2010 or shortly thereafter. The city of El Paso does not have enough rentals to meet their demand; projections are, in 2010 there will be a shortage of rentals to the tune of 4500. Then the shortage will increase to around 8,000 as we approach 2013.
Since no one can deny that we are facing a massive demand one would think that the normal pressure of a supply and demand market would encourage an increase in supply. However, here are the cross hairs I see us in:
The highly acclaimed real estate advisory firm of Alvarez and Marsal conducted an El Paso real estate market study on what could be done to stimulate development….as a part of their study they figured out what it would cost, today, to build a 250 unit apartment complex in El Paso and what rents or BAH would have to be for the developer/builder to satisfy the loan and make a return on their investment. They presented their findings to City Council last Tuesday. According to their report on this one issue, it would cost $25,000,000 to build. Taking into account the current BAH of soldiers and the average rents in El Paso, there would be a $6,000,000 short fall in this hypothetical project. Assuming soldiers are the primary tenants, their BAH would have to be around $1,300.00 in order for this project to work! What builder is going to go into a project knowing that he is looking a losing Six Million Dollars? What bank is going to lend money on this project?
Here is the rest of the story; As the demand for rentals increases, there is little doubt that rents will go up. So let’s say that Soldiers BAH goes up and we reach that $1,300.00 per month. While the soldiers with higher BAH may be able to pay that rent, the everyday renter who’s salary has not gone up will not be able to…..then what?
Here is where the opportunity is; as a city as a community the citizens need to bring together bright minds with fresh ideas and catapult this situation in to an unprecedented opportunity. We should be thinking about higher density complex’s (maybe even high rise apartments or building smaller homes with common walls, using zero lot lines as the norm, or how about “green technology” that uses modular construction as a cost savings devise.) Why not smaller yards, in exchange for common gathering areas, like parks with gazebos and play areas for the neighborhood to come together, we already have models right here, like the Kern area. Where should this type of project be developed? What do you think? How about in the downtown area or say along the medical corridor. My vision is of a mixed use area with retail, grocery, a daycare center, etc. The City should be aggressive in helping to incentivize projects that incorporate mixed use and smart growth principals. How about adding a solar component to this project, like solar panels on each unit and get the electric company involved in buying back the excess wattage that is produced. We might venture into uncharted waters but out of the cross hairs. I’m just throwing out ideas; remember I said there needs to be a collection of “bright minds” working on this.
While I believe the city has a role to play in all of this, it has to start with the private sector. Throw in Innovation motivated by capitalism and a desire to move this city forward and we have the recipe for success. One thing is for sure the City has got to be careful not to impose onerous regulations that are going to discourage new development (and if currently there are such regulations remove them.) We can solve this and turn it into a model for other cities but we have to do it collectively and we have to do it now.
El Paso real estate markets and the city as a whole will forever change in a short period of time. We can’t sit here and do nothing. If we wait it will be a huge problem. If we address it today it can be a huge opportunity, either way we are in the cross hairs and Uncle Sam has already pulled the trigger.
Dan Olivas is the President of Dan Olivas and Associates.
Thousands of soldiers and their families are coming to El Paso, most of these families will be young and most of them will be renters. All the soldiers get a Basic Allowance for Housing (BAH) some will get less some will get more on average that allowance will be around $979.00 per month, this allowance is for rent and utilities. Take away the utility allowance and their left with about $790.00 for a mortgage payment or for most of these soldiers for a rent payment. Average rents in El Paso today are around $700.00 per month; The El Paso real estate market has always included a strong rental market.
Here is where it gets interesting; these Soldiers will start arriving in mid 2010 or shortly thereafter. The city of El Paso does not have enough rentals to meet their demand; projections are, in 2010 there will be a shortage of rentals to the tune of 4500. Then the shortage will increase to around 8,000 as we approach 2013.
Since no one can deny that we are facing a massive demand one would think that the normal pressure of a supply and demand market would encourage an increase in supply. However, here are the cross hairs I see us in:
The highly acclaimed real estate advisory firm of Alvarez and Marsal conducted an El Paso real estate market study on what could be done to stimulate development….as a part of their study they figured out what it would cost, today, to build a 250 unit apartment complex in El Paso and what rents or BAH would have to be for the developer/builder to satisfy the loan and make a return on their investment. They presented their findings to City Council last Tuesday. According to their report on this one issue, it would cost $25,000,000 to build. Taking into account the current BAH of soldiers and the average rents in El Paso, there would be a $6,000,000 short fall in this hypothetical project. Assuming soldiers are the primary tenants, their BAH would have to be around $1,300.00 in order for this project to work! What builder is going to go into a project knowing that he is looking a losing Six Million Dollars? What bank is going to lend money on this project?
Here is the rest of the story; As the demand for rentals increases, there is little doubt that rents will go up. So let’s say that Soldiers BAH goes up and we reach that $1,300.00 per month. While the soldiers with higher BAH may be able to pay that rent, the everyday renter who’s salary has not gone up will not be able to…..then what?
Here is where the opportunity is; as a city as a community the citizens need to bring together bright minds with fresh ideas and catapult this situation in to an unprecedented opportunity. We should be thinking about higher density complex’s (maybe even high rise apartments or building smaller homes with common walls, using zero lot lines as the norm, or how about “green technology” that uses modular construction as a cost savings devise.) Why not smaller yards, in exchange for common gathering areas, like parks with gazebos and play areas for the neighborhood to come together, we already have models right here, like the Kern area. Where should this type of project be developed? What do you think? How about in the downtown area or say along the medical corridor. My vision is of a mixed use area with retail, grocery, a daycare center, etc. The City should be aggressive in helping to incentivize projects that incorporate mixed use and smart growth principals. How about adding a solar component to this project, like solar panels on each unit and get the electric company involved in buying back the excess wattage that is produced. We might venture into uncharted waters but out of the cross hairs. I’m just throwing out ideas; remember I said there needs to be a collection of “bright minds” working on this.
While I believe the city has a role to play in all of this, it has to start with the private sector. Throw in Innovation motivated by capitalism and a desire to move this city forward and we have the recipe for success. One thing is for sure the City has got to be careful not to impose onerous regulations that are going to discourage new development (and if currently there are such regulations remove them.) We can solve this and turn it into a model for other cities but we have to do it collectively and we have to do it now.
El Paso real estate markets and the city as a whole will forever change in a short period of time. We can’t sit here and do nothing. If we wait it will be a huge problem. If we address it today it can be a huge opportunity, either way we are in the cross hairs and Uncle Sam has already pulled the trigger.
Dan Olivas is the President of Dan Olivas and Associates.
Monday, January 4, 2010
Ideas for selling your home in 2010
2010 looks better for home sellers:
Happy New Year!!
If you’re trying to sell your home in the El Paso real estate market during 2010, what can you expect from the market? Here is a list of things that I think will help sellers;
• Interest rates have been at or near historical lows, this means that more buyers can qualify, as long as interest rates stay low it will help buyers and therefore sellers.
• The continuation of the first time buyer’s $8,000 tax credit and the addition of a $6,500 tax credit for repeat buyers will surely have an impact on sales in 2010.
• There is a lack of housing for the needs of the troops and their families coming to Ft. Bliss, even though this housing need is more about rentals than it is about homes for sale. The pressure on rentals will have a positive impact on the sale of homes at least for those in the $250,000 and below price range.
In the 30 years that I have been in the business of helping families moving in and out of El Paso, these are 4 things that I have learned when it comes to putting a home on the market and especially in a challenging El Paso real estate market
• Do yourself a favor, make sure your home is priced correctly; this market is unforgiving if you don’t! Don’t let your home be one of those in the Multiple Listing Service that are used as examples to demonstrate what a deal the competitor’s homes are.
• How can sellers be assured their home is priced correctly? The short answer is to hire a licensed appraiser and pay $350.00 to $500.00 for an appraisal.
• Hire a professional real estate agent who has a proven track record of understanding the El Paso real estate market and will do a comprehensive market analysis, including visiting the homes that they are using as comparables to yours.
• Your job in this process is to keep your emotional biases in check, more often than not sellers, and that includes me, become overly emotional in pricing our homes. Example: we made sure there was extra insulation in the walls or we converted the garage to a play room…while that’s great, we did it for our benefit and it probably won’t bring us a higher price at the time of sale. Here are a couple of other things about the pricing process; If your home has a new roof you are not going to get more for it than the home down the street that has a perfectly good 8 yr old roof…sorry that’s not the way it works. The same goes for new carpet and air conditioning (now if you just converted from evaporated to refrigerated that’s different) If you have a in ground pool you will only get a portion of its original cost, from $0 to about $8,000 dollars..Good professional agents will advise you of all these peculiarities in the selling of your home.
• Markets are driven by what willing buyers are willing to pay and what willing sellers are willing to sell for….Generally this is the criteria that is interpreted and used to come up with an opinion of value by licensed appraisers. A good market analysis will mimic or come close to what an appraiser does. A word of caution- Appraisers in most cases will try to use comparable home sales that took place in the last 6 months only.
The bottom line is that 2010 should be a much better market than 2009 was. If we know what dictates the pricing of homes, we should be able to sharpen our pencils and price our properties competitively. Beware that maneuvering in a challenging
El Paso real estate market is easier and more profitable with the help and guidance of a real estate professional.
Have a great 2010 and may your home selling be smooth and profitable.
I invite your comments.
Happy New Year!!
If you’re trying to sell your home in the El Paso real estate market during 2010, what can you expect from the market? Here is a list of things that I think will help sellers;
• Interest rates have been at or near historical lows, this means that more buyers can qualify, as long as interest rates stay low it will help buyers and therefore sellers.
• The continuation of the first time buyer’s $8,000 tax credit and the addition of a $6,500 tax credit for repeat buyers will surely have an impact on sales in 2010.
• There is a lack of housing for the needs of the troops and their families coming to Ft. Bliss, even though this housing need is more about rentals than it is about homes for sale. The pressure on rentals will have a positive impact on the sale of homes at least for those in the $250,000 and below price range.
In the 30 years that I have been in the business of helping families moving in and out of El Paso, these are 4 things that I have learned when it comes to putting a home on the market and especially in a challenging El Paso real estate market
• Do yourself a favor, make sure your home is priced correctly; this market is unforgiving if you don’t! Don’t let your home be one of those in the Multiple Listing Service that are used as examples to demonstrate what a deal the competitor’s homes are.
• How can sellers be assured their home is priced correctly? The short answer is to hire a licensed appraiser and pay $350.00 to $500.00 for an appraisal.
• Hire a professional real estate agent who has a proven track record of understanding the El Paso real estate market and will do a comprehensive market analysis, including visiting the homes that they are using as comparables to yours.
• Your job in this process is to keep your emotional biases in check, more often than not sellers, and that includes me, become overly emotional in pricing our homes. Example: we made sure there was extra insulation in the walls or we converted the garage to a play room…while that’s great, we did it for our benefit and it probably won’t bring us a higher price at the time of sale. Here are a couple of other things about the pricing process; If your home has a new roof you are not going to get more for it than the home down the street that has a perfectly good 8 yr old roof…sorry that’s not the way it works. The same goes for new carpet and air conditioning (now if you just converted from evaporated to refrigerated that’s different) If you have a in ground pool you will only get a portion of its original cost, from $0 to about $8,000 dollars..Good professional agents will advise you of all these peculiarities in the selling of your home.
• Markets are driven by what willing buyers are willing to pay and what willing sellers are willing to sell for….Generally this is the criteria that is interpreted and used to come up with an opinion of value by licensed appraisers. A good market analysis will mimic or come close to what an appraiser does. A word of caution- Appraisers in most cases will try to use comparable home sales that took place in the last 6 months only.
The bottom line is that 2010 should be a much better market than 2009 was. If we know what dictates the pricing of homes, we should be able to sharpen our pencils and price our properties competitively. Beware that maneuvering in a challenging
El Paso real estate market is easier and more profitable with the help and guidance of a real estate professional.
Have a great 2010 and may your home selling be smooth and profitable.
I invite your comments.
Friday, January 1, 2010
How to choose a real estate agent in El Paso to sell your home!
1. Proficient in marketing on the web.
2. Minimum experience of 500 sales.
3. Continue to educate themselves in their profession.
4. Have good negotiation skills.
5. Is assertive.
6. Has a strong base of repeat customers and good references.
7. A good clear communicator.
8. Has a specifically designed, marketing campaign for you.
9. They are good listeners.
10. A written personal guarantee stating that if you are not satisfied with their service they will let you cancel the listing agreement.
11. Choose an agent that can demonstrate they are good networkers.
(1)The key ingredient here is how proficient is the agent at marketing on the web? All real estate agents are different; each one has their own unique attributes. It’s commonly stated that about 10 to 15% of agents sell 85 to 90% of the homes. The
El Paso real estate market is no different. An agent that reaches large number of buyers provides you with a better chance to sell your home.
(2)The more homes sold-the more experience. Experience is certainly something that you should look for; let new agents learn the business on your competitors homes. The true gage for experience is how many transactions the agent has been involved in, not the dollar amount that they have sold. Experience is particularly important in challenging markets, El Paso’s real estate market is challenging today and that’s when you want someone who knows how to get creative and proactive. Experience also helps an agent be alerted to red flags during the transaction and prevent problems.
(3)Education, degrees and certifications that have been earned demonstrate a pride and a determination in polishing business skills. It also shows that they are keeping up with an ever changing industry. An agent that has the initiative to better themselves and is constantly improving their skills will outperform an agent that does not, when it comes to marketing your home.
(4)Good negotiation skills come from experience of having done this over and over again and the payoff is in being able to bring the sides together by logically articulating ones position. Negotiating is also about knowing where to take and where to give in order to achieve the client’s objective.
(5)Assertiveness is a way of behaving and thinking. Maintaining good eye contact, good posture and a strong positive presence….Assertive attitudes and behaviors is the very core of effective advocacy. An assertive person is always going to understand that standing up for your position is their responsibility while respecting the position of others…They will invariably wind up with a win, win solution. They tend to face problems promptly and they will focus on the opportunity for solutions rather than the depth of the problems.
(6)Repeat customers and good references- this is an indicator of a successful solid track record. A true professional agent will welcome you calling their references and in fact references will be part of their initial presentation.
(7)Being a good communicator means several things: for one, they will have a systematic system of keeping in touch with you on a regular basis. There is nothing more frustrating than not being kept in the loop as to what is transpiring in the marketing of your home. A good communicator will also make it clear to you what is changing in market conditions and price points and how that might mean the necessity of a different strategy in positioning your home or in its marketing. The El Paso real estate market is an evolving market.
(8) Developing of a marketing campaign is something that is unique to each property and to current market conditions. Your agent should have the ability and vision to put together a strategy as to how they plan on making your home stand out to potential buyers. This marketing plan should have flexibility and should be presented to you along with a schedule of how often it will be updated.
(9) Good listener- Being a good listener is a learned ability. Having an agent with this ability pays huge dividends not only when you are trying to voice your concerns but also when negotiations are under way. Make sure the agent is interested in hearing and understanding your point of view...Do they ask questions that indicate that they are interested in your view point, such as...”I’d like to hear your thoughts on…” “What does the situation look like from your perspective?” Do they let you know that you have been understood? Remember that understanding is different from agreement.
(10) A personal written guarantee- You should have a guarantee that states that if you are not satisfied with their service, they will cancel the listing agreement, at no cost to you...Not withdraw it “cancel it” and allow you to hire another agent.
(11) Good networkers are people who know the value that social capital brings to the marketing table. Social capital is what a person accumulates by having many people know you and more importantly they know what you do for a living. When people believe in you and trust you and become invested in your success, they will refer their friends and co-workers to you. This is when social capital pays off. This separates the professionals from the novices.
With a professional in your corner the El Paso real estate market becomes easier to navigate
1. Proficient in marketing on the web.
2. Minimum experience of 500 sales.
3. Continue to educate themselves in their profession.
4. Have good negotiation skills.
5. Is assertive.
6. Has a strong base of repeat customers and good references.
7. A good clear communicator.
8. Has a specifically designed, marketing campaign for you.
9. They are good listeners.
10. A written personal guarantee stating that if you are not satisfied with their service they will let you cancel the listing agreement.
11. Choose an agent that can demonstrate they are good networkers.
(1)The key ingredient here is how proficient is the agent at marketing on the web? All real estate agents are different; each one has their own unique attributes. It’s commonly stated that about 10 to 15% of agents sell 85 to 90% of the homes. The
El Paso real estate market is no different. An agent that reaches large number of buyers provides you with a better chance to sell your home.
(2)The more homes sold-the more experience. Experience is certainly something that you should look for; let new agents learn the business on your competitors homes. The true gage for experience is how many transactions the agent has been involved in, not the dollar amount that they have sold. Experience is particularly important in challenging markets, El Paso’s real estate market is challenging today and that’s when you want someone who knows how to get creative and proactive. Experience also helps an agent be alerted to red flags during the transaction and prevent problems.
(3)Education, degrees and certifications that have been earned demonstrate a pride and a determination in polishing business skills. It also shows that they are keeping up with an ever changing industry. An agent that has the initiative to better themselves and is constantly improving their skills will outperform an agent that does not, when it comes to marketing your home.
(4)Good negotiation skills come from experience of having done this over and over again and the payoff is in being able to bring the sides together by logically articulating ones position. Negotiating is also about knowing where to take and where to give in order to achieve the client’s objective.
(5)Assertiveness is a way of behaving and thinking. Maintaining good eye contact, good posture and a strong positive presence….Assertive attitudes and behaviors is the very core of effective advocacy. An assertive person is always going to understand that standing up for your position is their responsibility while respecting the position of others…They will invariably wind up with a win, win solution. They tend to face problems promptly and they will focus on the opportunity for solutions rather than the depth of the problems.
(6)Repeat customers and good references- this is an indicator of a successful solid track record. A true professional agent will welcome you calling their references and in fact references will be part of their initial presentation.
(7)Being a good communicator means several things: for one, they will have a systematic system of keeping in touch with you on a regular basis. There is nothing more frustrating than not being kept in the loop as to what is transpiring in the marketing of your home. A good communicator will also make it clear to you what is changing in market conditions and price points and how that might mean the necessity of a different strategy in positioning your home or in its marketing. The El Paso real estate market is an evolving market.
(8) Developing of a marketing campaign is something that is unique to each property and to current market conditions. Your agent should have the ability and vision to put together a strategy as to how they plan on making your home stand out to potential buyers. This marketing plan should have flexibility and should be presented to you along with a schedule of how often it will be updated.
(9) Good listener- Being a good listener is a learned ability. Having an agent with this ability pays huge dividends not only when you are trying to voice your concerns but also when negotiations are under way. Make sure the agent is interested in hearing and understanding your point of view...Do they ask questions that indicate that they are interested in your view point, such as...”I’d like to hear your thoughts on…” “What does the situation look like from your perspective?” Do they let you know that you have been understood? Remember that understanding is different from agreement.
(10) A personal written guarantee- You should have a guarantee that states that if you are not satisfied with their service, they will cancel the listing agreement, at no cost to you...Not withdraw it “cancel it” and allow you to hire another agent.
(11) Good networkers are people who know the value that social capital brings to the marketing table. Social capital is what a person accumulates by having many people know you and more importantly they know what you do for a living. When people believe in you and trust you and become invested in your success, they will refer their friends and co-workers to you. This is when social capital pays off. This separates the professionals from the novices.
With a professional in your corner the El Paso real estate market becomes easier to navigate
Tuesday, December 29, 2009
What If I had a magic wand?
What will it take for the real estate market in El Paso to have resurgence? The biggest boost to this market would be for there to be an infusion of consumer confidence. If consumers concentrate their focus solely on the local economy, they will see that there are many reasons for us being somewhat economically insulated from the devastation taking place in other parts of the country, but there could be so much more.
If I had a magic wand this is what I would do ….El Paso would be transforming itself into the alternative energy Capital of the USA and especially focusing on Solar. That would mean a clean industry, new companies, and higher paying jobs.
My magic wand would bring together our elected officials; Federal, State, City, County, the Presidents of UTEP and Community College, The Chambers and the best and most futuristic thinkers in the community….. Everyone would leave their egos at their office’s (ok I know that’s asking a lot, but remember I have the magic wand) and they would map out a strategy and aggressively pursue capital from the Feds, the State, and private funds. There would be a way to incentivize companies, Our University would need to demonstrate the research and development that they are conducting and the Community College would show how they are training the labor force for these new jobs.
To all the naysayers I say, “if El Paso doesn’t do this, other surrounding communities will! The alternative renewable energy industry has a tremendously bright future. If this were taking place right now along with the Ft. Bliss expansion, The new medical school and research center, the new children’s hospital the downtown revitalization and the growth at UTEP, El Paso’s real estate market and our overall economy would be sizzling”.
What I would give to have that magic wand…..but you know what, other communities have transformed and shaped their future. So…..I know it’s possible! The real magic wand is held by leaders with vision and the ability to put their own egos aside for the good of El Paso… yes it also takes voters who demand that our leaders earn their vote by leading us to greener pastures..Hey! San Antonio did it!
I invite your comments!
If I had a magic wand this is what I would do ….El Paso would be transforming itself into the alternative energy Capital of the USA and especially focusing on Solar. That would mean a clean industry, new companies, and higher paying jobs.
My magic wand would bring together our elected officials; Federal, State, City, County, the Presidents of UTEP and Community College, The Chambers and the best and most futuristic thinkers in the community….. Everyone would leave their egos at their office’s (ok I know that’s asking a lot, but remember I have the magic wand) and they would map out a strategy and aggressively pursue capital from the Feds, the State, and private funds. There would be a way to incentivize companies, Our University would need to demonstrate the research and development that they are conducting and the Community College would show how they are training the labor force for these new jobs.
To all the naysayers I say, “if El Paso doesn’t do this, other surrounding communities will! The alternative renewable energy industry has a tremendously bright future. If this were taking place right now along with the Ft. Bliss expansion, The new medical school and research center, the new children’s hospital the downtown revitalization and the growth at UTEP, El Paso’s real estate market and our overall economy would be sizzling”.
What I would give to have that magic wand…..but you know what, other communities have transformed and shaped their future. So…..I know it’s possible! The real magic wand is held by leaders with vision and the ability to put their own egos aside for the good of El Paso… yes it also takes voters who demand that our leaders earn their vote by leading us to greener pastures..Hey! San Antonio did it!
I invite your comments!
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