Some of our team members and I just returned from a fantastic real estate conference in Phoenix called Breakthrough 2013. Having been through a down market for the last several years in real estate, the overall theme of the conference was on recovery. It was so refreshing. Since 2007 we have had to adjust, adapt, streamline and make everything more efficient to stay profitable. We lost hundreds of Realtors in our Tulsa real estate market and even lost a few of our big name, long standing real estate companies to buy outs. But now, with our low interest rates, shrinking inventory, recovering economy and buyer pool size, we are finally seeing the first signs of recovery. So what did they really tell us in Phoenix? They reminded us of the value of relationships. They reminded us that great communication is more important than ever. 90% of all communication is still offline. They reminded us not to take life too seriously and that laughter is still the best medicine and last but not least, they reminded us to not let the pain or challenges of the past blind us from the promise of tomorrow.
Tulsa Real Estate Market Update June 2013
We have found over the years that the best way to handle an interesting market is to understand it and educate ourselves on the trends and nuances of any changes it might be going through. Before I became an expert, I used to just cross my fingers. That was not a very good strategy.
So, we are seeing pending sales on the rise in our area. This is a good sign. More buyers are back in the market and the move up buyer is back as well. Inventory has come down but is trending up slightly because of the busy summer season. We are trending toward a more balanced market but it is still a buyers’ market with some great values out there. Economists are estimating around 1-3% appreciation this year in our values. This is a very moderate appreciation rate. Our average price of properties that are selling have gone up nicely though. This is just because bigger homes are now selling. Mortgage rate analysts are predicting around 4% by the end of the year which makes now the perfect time to buy. Last but not least, rents are increasing in our area after a decline in the toughest part of our real estate downturn.
Productivity
A lot of people ask me how to make their days more productive. We all have the same 24 hours in everyday, and how we use it is critical to our success. One of the best things I have learned about productivity is that if we are working in our areas of talent, we can be much more productive.
I try to spend 80% or more of my day in things I excel in. The benefit of this is that you generally really enjoy those activities as well. So, find out what your strengths are. There are too many personality assessments out there to count but most will pinpoint the type of work you will be most effective in. They will tell you whether you will be good with detail work or strategic planning or face to face with clients selling your services. They are wonderful resources to get you started in the right direction.
Another way to increase productivity is to be very intentional about your daily accomplishments. Each morning, spend time doing planning and in solitude. During this time you want to evaluate your day, your business, and your successes.
One of the most effective strategies I have in being productive is that I get up before everyone else does. I usually wake up between 4:00 and 5:00 in the morning. I have found it gives me a head start on the day and my brain is very creative at that time of day. I am able to learn more and find better solutions for my life. My daily ritual is to get up and make coffee and then head to the home gym to exercise for an hour. During that time I listen to audio books on my iPhone at 3 times the normal speed. This way I can listen to two to three books a week and continually improve my knowledge base. I have found that education will solve any challenge you might be having in your life. It doesn’t matter if it is business related, marriage related or even challenges you might be having with your children. I also do my daily planning and solitude during that time and answer the questions that keep me focused on the highest priorities for the day.
Questions I recommend are as follows:
How did I fill my cup yesterday?
Right now I feel? Why?
What is the one thing I want to do today? What is my intention?
What could I do today to change the course of my business?
What task is so urgent that it would damage my business if it were not accomplished today?
Which processes in my business could be improved?
How can I improve these processes?
What friction points exist today?
Are the friction points different than yesterday?
Lately I have learned…
5 things I am grateful for today…
I am joyfully anticipating…
Last but not least, structure your day in blocks of time, so that you are always focused and intentional in your activities vs. multi tasking and putting out fires. If you can block time to make calls or to do your appointments, you will accomplish so much more in your day. Hope this helps and don’t hesitate to call or email if you any questions.
Paul Wheeler
Tulsa Real Estate
Accent Realtor’s Vision
Our company vision is to educate our clients and communicate in such a way that they can make the best decisions for themselves and their families. Along with staying well educated about the market, we use a system that we call OCR. OCR is an acronym of Options, Consequences and Recommendations. Making major decisions is very difficult for most people. Once money and emotions get added in the mix making a decision can be very overwhelming. OCR breaks decision making down into manageable parts.
The following are the steps we take for OCR:
1. Discuss all available options with our clients based on circumstance and their specific needs
2. Look at all consequences of each option or choices. (Generally there are no more than 3 options)
3. Give our recommendations based on our years of experience and the needs of our clients
4. Have client make the decision they feel most comfortable with and feel would be best for them and their families.
5. Support our client in their decision
If we have done our job correctly providing OCR we have found 99% of the time our clients make great decisions because they get education they need to focus on their needs. It is what we call a WIN-WIN.
Thank you,
Paul Wheeler
Paul Wheeler’s State of the Market Report
On the following video Paul provides a state of the market update. Click the link below to view the video.
Accent Ranked #1 Team in Tulsa 6th Year In a Row
Tulsa Business Journal
Top Real Estate Teams
Ranked by 2010 Sales
Accent’s Guaranteed Sale Program
Everyday we get questions about our Guaranteed Sale Program.
Is it for real? How does it work? Is it too good to be true?
Is it for real? Yes, it is definitely for real and is one of the best tools in the real estate business for eliminating the fear of owning two homes at the same time. Everything is agreed upon upfront so the seller has a timeline he can use to plan by. There is comfort in knowing that his home WILL be sold. How does it work? In a nutshell, Accent and the Seller agree upon a current market value for the home being sold. The home is then placed on the market for 90 days. This gives Accent a chance to aggressively market the home. If the home is not sold by the end of the 90 days, Accent will buy the home for up to 95% of the agreed upon market value. Is it too good to be true? Well it is not for everyone. There are certain situations where it simply will not work. For example, if someone owes more for a home than it is currently worth, it is just not financially feasible. Also, if the home is very unique, the programis not meant to get a whit elephant of someones back. If you would like more information on this unique and successful program give us a call 918-665-8559.
2009 Greater Tulsa Association Parade Of Homes
Accent’s featured listing – 13870 S. Hudson Ave. in Bixby
Presented by the Home Builders Association of Greater Tulsa, and sponsored by Wells Fargo Home Mortgage.
When: Saturday, June 20 – Sunday, June 28
Homes open 1 to 7 p.m. daily
The Parade includes 150 homes in Bartlesville, Bixby Homes, Broken Arrow Homes, Claremore, Collinsville, Coweta, Glenpool, Jenks, Kiefer, Owasso Homes, Pryor, Sand Springs, Sapulpa, Skiatook Homes and Tulsa Homes. A complete guide of Tulsa area homes will be available in the Friday, June 19 at participating QuikTrip locations.
Highlights of the Parade of Homes –
– Free advice from homebuilders and Tulsa real estate professionals on achieving the dream of owning or building a new home.
– A wide range of home styles, prices and locations.
– The latest materials and technology in today’s new homes.
– Ideas on floor plans to fit your family and lifestyle.
Homes will be open daily from 1 to 7 p.m. Admission is free.
For more information call 665-8559.
Tulsa Homes
Broken Arrow Homes
Bixby Homes
Owasso Homes
Skiatook Homes