So, who's supposed to be educating the customers?

I recently commented on a discussion post at one of the professional networking sites that I belong to. The Discussion was kicked off by a comment from another Realtor that basically expressed disappointment that there hasn't been more client enthusiasm for, nor demand driven by, the $8,000 tax break for first time home buyers. The poster asked if others were experiencing the same thing around the country. my response is below -

We have experienced the same thing and I suspect for the same reasons. While we, as Realtors, got lots of information about this and internalized it; most of our potential customers have yet to really hear about it or to understand what it means. Impossible, you say, given the widespread news dissemination and coverage of this new tax break.

As weird as it may seem to us, we live in a society that has become so good at personalizing our information and entertainment experiences that we now have whole groups of people who are so plugged into their IPods that they don't ever get regular newscasts. These are people who have chosen to not watch television news cast, to not read papers, to not listen to boring news programs on radio (if they even listen to radio at all). How could they have missed this story, we ask? They tuned it out, along with much of traditional media years ago.

Now that’s only a portion of the prospect base. Another portion has heard something about it or read something about it, but still don’t understand it or they are stuck, like many people today thinking that they can’t take advantage of the tax break because they can’t scrape together the down payment for a house. What they don’t know is that 100% money for mortgage is still available and that there is hope (and movement afoot) to monetize the tax break into a form of bridge loan that will allow them to use it for their down payment.

Who’s fault is it that they don’t understand or know these things – ours! We need to be out there shouting from the roof tops, holding seminars, writing articles for local papers and generally doing whatever is necessary to get the word out and get the clients educated. Those who are sitting in their real estate offices waiting for the flock of customers to come storming in, ready to go find a house to claim that credit are going to end up like the lonely Maytag repairman. It’s not going to happen people! The clients aren’t going to come clamoring for your help to get this tax break. You’ve got to go out and grab them and tell them about it and then tell them again.

So, if your a Realtor and you're sitting there wondering where all of the customers are; they're sitting out there wondering where all of the Realtors are who can help them make sense out of all of these programs and tax breaks and loan modifications and short sales and all of the other nonsense that is going on in real estate right now. Anybody know a good Realtor? Maybe they could help. As for us here is my little patch, we’re kicking off a series of programs and activities to get the word out and get the client-base educated.

Which is a prefect segue into an announcement that our local Real Estate One office is hosting an open house on June 11, at our Milford Office (560 N. MIlford Rd - across the street from Starbucks). We will cover the topic of the $8,000 tax credit and many other topics that buyers and sellers might have questions about. The Open house kicks off at 5:30 with an hour of food and tours and informal discussions with the local Realtors in the Milford office. Then at 6:30 distinguished guests from our Headquarters and from our affiliates will host a set of simultaneous workshops.

The workshops will have Dan Elsea, President of Brokerage Operations for Real Estate One, discussing the state of the real estate market and the trends that he sees. Vicki Ascherl, Vice-President of Business Development will discuss leasing as an option for Buyers and Sellers in this market. Marlene Briolat, Branch Manager for Capital Title will discuss Land Contracts as an option for Sellers and Buyers. Agnes Meisch, Branch Manager for John Adams Mortgage will be talking about the $8,000 Tax Credit for first time buyers, as well as discussing the USDA programs for 100% financing and what it takes to get pre-approved for a mortgage these days. A panel of agents will discuss a variety of other topics and field questions from the audience.

So come and bring your questions. You’ll not only get answers to your questions, but we’ll have hot dogs and chips, pop and cookies, too. For a printable flyer about the Open House, click here- I hope you can make it to that event. You'll be glad you attended.