2011 Vision Speech-KW Beverly Hills Highlights

The Numbers that Drive Real Estate

2

The Numbers That Drive

U.S. Real Estate

1. Home Sales

2. Home Prices

3. Inventory

4. Mortgage Rates

5. Affordability

3

1. Home Sales (In Millions)

Sales decreased 4.8% in 2010, mainly due to softer demand in

the second half of the year.

5.18

7.08

5.16 4.91

Source: National Association of REALTORS®

4.96

4

In Q3 2010, all 50 states experienced

a decrease in sales …

TX

UT

MT

CA

AZ

ID

NV

OR

IA

COKS

WY

NM

MO

MN

NE

OK

SD

WA

AR

ND

LA

IL

FL

GAAL

WI

VA

IN

MI

MS

KY

TN

PA

NC

SC

WV

NJ

ME

NY

VT

MD

NH

CT

DE

MA

RI

AK

HI

Below 10%

Below 20%

Home Sales Direction

(Year-Over-Year Change)

OH


Below 30%

Below 40%

5

In Q4 2010, all states except for Virginia experienced an increase in sales …

TX

UT

MT

CA

AZ

ID

NV

OR

IA

COKS

WY

NM

MO

MN

NE

OK

SD

WA

AR

ND

LA

IL

FL

GAAL

WI

VA

IN

MI

MS

KY

TN

PA

NC

SC

WV

NJ

ME

NY

VT

MD

NH

CT

DE

MA

RI

AK

HI

OH


Sales Increased

Sales Decreased

Home Sales Direction

(Year-Over-Year Change)

6

2. Home Prices (Annual Appreciation)


If home prices actually grew by 4% every year from 1989, the median home price would be $211,082, which is approximately 18% above where we are

today.

7

2. Home Prices (In Thousands)

The median home price increased slightly by 0.3% in 2010, the

first annual price gain since 2006.


$153K

$222K

$173K

$211K

8

3. Inventory (Months Supply)Number of months it would take to sell all the homes on the market at the current rate of sales


Softer demand in the second half of the year kept inventory of existing homes at a relatively high level of 9.4 months at the end of 2010. However, months of inventory has declined substantially from its peak of 12.5 months reached in July.

9

4. Mortgage Rates (30-Year Fixed)

Source: Freddie Mac

Mortgage rates averaged 4.69% in 2010, an all-time low since Freddie Mac started tracking in 1971.

Mortgage rates ranged from 4.23% to 5.1% in 2010. At the end of December, rates stood at 4.71%.

10.3%

6.0%5.0%

4.7%

5.05%

10

Let’s put this in perspective …

1989 2010 2011

Bread $0.67 $2.49 $2.49

Gas (gal.) $0.97 $2.73 $2.73

New Car $15,350 $28,400 $28,400

Existing Home $94,000 $173,000 $173,000

Mortgage Rate 10% 4.69% 5.05%

Monthly Payment $825 $896 $934

And you still wouldn’t get a mortgage as cheap as you could in 2010.

11

5. Housing Affordability (% of Income)% of mean family’s income required to make mortgage payments on a median-priced home


15%

14%

40-year average = 21.9%

Housing affordability was the most favorable on

record in 2010.

12

Economic Snapshot

13

U.S. Economic Snapshot

1. Gross Domestic Product

2. Inflation

3. Unemployment

14

1. Gross Domestic Product(Year-Over-Year Growth)

Source: Bureau of Economic Analysis

Consumer spending and strong exports contributed

the most to economic expansion in 2010.

15

1. Gross Domestic Product(Year-Over-Year Growth)

Source: Bureau of Economic Analysis 16

2. Inflation

Source: Bureau of Labor Statistics

1.6%

In 2010, inflation averaged around 1.6%.

In the near term, inflation pressures are expected to remain subdued,

allowing the Fed to stay the course of its loose monetary policies.

Unofficial

Rate Target

17

3. Unemployment

Source: Bureau of Labor Statistics

9.6%

Unemployment is making slow progress, dropping from

9.9% in 2009 to 9.4% in the final month of 2010.

Long-term average: 5.6%

18

The Events That Drove The Numbers

19

The Six Events That Drove

the U.S. Numbers

1. The available sides per agent remained on par with 2009.

2. The extended home buyer tax credit boosted demand and

stabilized home prices in the first half of 2010.

3. Concerns about proper foreclosure procedure delayed the

influx of distressed properties into the market.

4. Monetary stimulus aid continued to lend support.

5. Credit conditions remain tight.

6. Uncertainty about economic outlook acted as restraint on

business and consumer spending.20

1. The available sides per agent remained on par with 2009


In 2010, another 45,987 Realtors left the industry,

leaving those remaining in the market with a steady

share of business despite softer sales.

21

National Association of Realtors

Membership vs. Existing Home SalesNAR Membership: 1.07

Million

Existing Home Sales:

4.91 Million


1977

1982

1990

19982008

201014

7

7.9

13.8

8.29.2

Sides per Agent

22

Housing Economic Recovery Act of 2008

$7,500 temporary FTHB tax creditExtended and Expanded

$8,000 FTHB Tax Credit

Must sign contract by April 30

Must close by June 30

Closing

Deadline

Extended

to September

30

Gradual

Recovery

without Tax

Credit

American Recovery & Reinvestment Act of 2009

$8,000 FTHB tax credit

2. Extended home buyer tax credit increased buyer traffic in the first six months of 2010


Jan

‘09

Jun

‘09

Oct

‘09

Nov

‘09Apr

‘10 Jun

‘10Sep

‘10

Dec

‘10

23

Recession

Began December 2007


$7,500 temporary FTHB tax credit

American Recovery & Reinvestment

Act of 2009


Extended and Expanded




Closing

Deadline

Extended

to September

30

Gradual

Recovery

without Tax

Credit


HOME SALESIn Millions

2. Extended home buyer tax credit boosted demand & stabilized home sales in the

first half of 2010

24

Recession

Began December 2007


$7,500 temporary FTHB tax credit

American Recovery & Reinvestment

Act of 2009


Extended and Expanded




Closing

Deadline

Extended

to September

30

Gradual

Recovery

without Tax

Credit


HOME PRICESIn Thousands

2. Extended home buyer tax credit boosted demand & stabilized home prices

25

3. Concerns about foreclosure procedure delayed the influx of distressed properties into the market

Source: RealtyTrac

The number of foreclosure notices and bank repossessions plunged in

November and December, as banks halted tens of thousands of foreclosures in

the face of the robo-signing scandal.

26

3. Concerns about foreclosure procedure limited foreclosure sales and steadied prices


Distressed Sales % of Total SalesIn 2010, distressed properties accounted

for 34% of all sales, down from 36% in

2009 and 37% in 2008.

27

Rising foreclosure rates (% of U.S. Homes)

remain a trouble spot for the housing market

Source: RealtyTrac

In 2010, foreclosure filings were reported on a record 2.9

million (2,871,891) U.S. properties despite a thirty-month

low reached in December due to foreclosure freezes.

28

4. Monetary stimulus aidcontinued to lend support

Source: Mortgage Bankers Association

Historically low rates fueled a surge in refinancing activity earlier in 2010,

helping homeowners save billions of dollars.

29

6. Uncertainty about economic outlookacted as restraint on business and consumer spending

Source: Bureau of Economic Analysis

Heightened level of unemployment persists and remains the biggest risk to the recovery.

Any meaningful improvement in consumer confidence and their purchase decisions is

contingent on a significant pickup in job growth.

Consumer Spending and Unemployment

30

5. Strong currency has hurt Canadian trade

• As commodity prices elevated, appetite for Canadian currency strengthened, leading to

Canada’s rising exchange rate against its major counterparts.

• Exports were dampened by gains in the Canadian dollar.

• Canada's economy slowed in mid-2010 when imports increased (subtracting from growth)

and exports decreased.

• Bank of Canada noted that about two-thirds of the widening of Canada’s trade deficit in

recent years is due to a stronger Canadian dollar.

2009: 1 CAD 0.88 USD

2010: 1 CAD 0.97 USD

Source: Bank of Canada 31

What the Governments Are Doing

32

1. Extended Bush-era income tax cuts

2. Extended conforming loan limits

3. Started second round of Fed’s monetary stimulus

4. Halted new mortgage disclosure rules under the Truth inLending Act

What the U.S. Government Is Doing

33

What: President Obama signed an $858 billion tax bill into law on December 17, keeping income tax rates

from increasing before the new year.

Why: To put more money in the pockets of families most likely to spend it, help businesses to grow and

as a result, spark demand, spur job creation, and strengthen the economy in 2011.

How: 1. Extends the Bush-era income tax cuts on income, capital gains, and dividends for two years

2. Reduces Social Security payroll tax rates by 2% for one year on income up to $106,800

3. Extends jobless benefits for 13 months beyond the current 99 weeks

4. Allows businesses to write off 100% of capital investments between September 9, 2010 and December 31,

2011

5. Extends dozens of expired and expiring tax breaks, including a research and development tax credit and a

college tuition tax credit that was created in last year’s economic stimulus law

6. Sets the estate tax rate at 35% for two years and would apply it only to estates worth more than $5 million.

Under current law, the estate tax has lapsed for 2010 and is set to jump next year to 55%

Implications: Many economists predict the tax package could increase the economic expansion rate by a

substantial 1% next year.

1. Extended Bush-era income tax cuts

34

What: In July 2008, the housing recovery bill raised the limit

on conforming loans in high-cost areas to a maximum

of 125% of local median home price, up to an overall

cap of $729,750 from $417,000 everywhere.

Why: To increase credit available in higher-priced markets.

When: These limits were set to expire in December 2010 and

have now been extended through September of 2011.

2. Extended conforming loan limits

35

What: Fed announced the second round of quantitative easing program, known as QE2, in early November 2010 to jump-start the slowing recovery.

Why: The program aims at spurring business and consumer spending by keeping interest rates low.

How: Fed plans to purchase $600 billion in long-term treasuries over the next eight months. The Fed also announced it will reinvest an additional $250 billion to $300 billion in treasuries with the proceeds of its earlier investment.

When: The bond purchases aimed at stimulating the economy will total up to $900 billion and will be completed by the end of the third quarter of 2011.

3. Started second round of monetary

stimulus

36

4. Halted new mortgage disclosure rules

under the Truth in Lending Act • Fed held off on finalizing pending rule changes under Regulation Z of the Truth in Lending Act that were

proposed in August 2009 and September 2010 that would have mandated new consumer disclosure

requirements for:

• Closed-end mortgage loans (2009)

• Home equity lines of credit or HELOCs (2009)

• Reverse mortgages (2010)

• The proposed new rules were initiated in response to claims that homeowners were signing up for

unsustainable and unsuitable mortgages without understanding the terms of the loans during the boom

years, which fueled unsound lending practices and led to the mortgage market meltdown in 2007.

• The newly created Consumer Financial Protection Bureau (CFPB) will assume general rulemaking authority

for TILA, RESPA (which were previously overseen and enforced by Fed and HUD, respectively) and federal

jurisdiction over consumer protections in July. The agency is required by the Dodd-Frank Reform Act to

combine the mortgage disclosures required by both TILA and RESPA in a single form within eighteen

months after the designated transfer date.

• The delayed implementation of any new disclosures adopted by the Fed will mitigate compliance difficulties

which may arise with the issuance of multiple rules with different implementation periods.37

Luxury Real Estate

38

The strong rebound in the wealthy is a positive signal

for the luxury market.

End of YearAverage Net Worth

of Billionaires

Number of

Billionaires

2007 $3.9 billion 1,125

2008 $3 billion 793

2009 $3.5 billion 1,011

Source: Forbes

17%

increase

27%

increase39

Source: Spectrum Group

Percent Change in Number Affluent, by Net Worth

40

0

6

12

18

24

30

36

42

Dec '08 Mar '09 Jun '09 Sep '09 Dec '09 Mar '10 Jun '10 Sep '10 Dec '10

Luxury Move Up Starter 42

36

30

24

18

12

6

0Seller’s Market

18

40

41

181

143

117 112

90 92

60

120

180

Dec '08 Mar '09 Jun '09 Sep '09 Dec '09 Mar '10 Jun '10 Sep '10 Dec '10

Luxury Move Up Starter

180

120

60

42

100%

95%

90%

85%

80%

43

Greater Supply + Longer DOM

+ Greater Discount = Opportunity for:

1. Investors in luxury market for both

flippers and holders of undervalued

properties.

2. Move-Up buyers who were previously

priced out of luxury market.

44

Commercial Real Estate

45

SectorUnited States Canada2009 2010 2009 2010

Office 15.7% 17.4% 9.9% 9.4%

Industrial 13.2% 14.5% 8.1% 7.4%

Retail 12.0% 12.7% 5.5% 4.2%

Multifamily 7.4% 6.1% 2.8% 2.6%

Sources: NAR, CBRE, CMHC46

Source: US CMBS Delinquency Rates, Trepp LLC. Graph scaled based on actual data for trend purposes only.47

Moody’s/REAL Commercial Property Price Index (CPPI) National - All Property Types

2.0

1.6

1.2

0.8

Index, D

ecem

ber

2000 =

1

Source: Moody’s/REAL Commercial Property Price Index48

2009-2011

“Extend and Pretend”to

2012 and forward

“Extend and Amend”

63% Extend

withModification

16% Foreclose

14% Sell

7% Extend

withoutModification

Maturing Loans: Preferred Strategy for

Lenders by Mid-2011

All Commercial Property TypesSource: Emerging Trends in Real Estate 2011 Survey

49

Flat Market

1. No new development

means demand has time

to catch up with supply

2. Economy needs time

to improve which will

strengthen demand

New Commercial Loans (in billions)

Source: Commercial Mortgage Alert50

1. Distressed Assets (U.S.)

2. Quality Yield Properties

3. Tenant Representation

4. Owner Occupants

51

How Do We Recover?

52

The Four Keys to Housing Recovery

53

What Can NAR Tell Us About 2010?

54

First-Time Home Buyers

55

Primary Reason for Purchasing a Home

All Buyers First-time Buyers Repeat Buyers

20052009 2010 2009 2010 2009 2010

Desire to own a home 39% 35% 31% 62% 53% 11% 10%

Desire for larger home 20 9 9 2 2 16 15

Change in family situation * 9 8 8 7 10 10

Home buyer tax credit * 3 8 6 13 1 3

Job-related relocation or move 11 9 7 2 2 16 12

Affordability of homes * 8 6 10 8 6 4

Desire to be closer to

family/friends/relatives8 4 5 1 1 7 10

Desire for a home in a better

area

*4 5 1 2 7 7

Desire to be closer to

job/school/transit* 3 3 1 2 5 5

Desire for smaller home 6 3 3 * * 5 5

Retirement 3 3 3 1 * 4 5

Establish household * 2 2 2 4 1 1

56

Tenure in Previous Home

2009 2010

1 year or less 4% 3%

2 to 3 years 18 8

4 to 5 years 21 16

6 to 7 years 12 18

8 to 10 years 15 17

11 to 15 years 12 17

16 to 20 years 8 8

21 years or more 11 13

Median 7 8

21%

38%

55%

57

Buyer’s Expected Length of Tenure

2009 2010

1 year or less 1% 1%

2 to 3 years 3 3

4 to 5 years 12 12

6 to 7 years 3 3

8 to 10 years 14 13

11 to 15 years 5 5

16 to 20 years 22 22

Don’t Know 39 42

Median 10 10

22%

27%

40%

58

First Step in Home Buying Process

All Buyers First-time Buyers Repeat Buyers

2009 2010 2009 2010 2009 2010

Looked online for properties for sale 36% 36% 31% 32% 40% 41%

Contacted a real estate agent 18 19 14 16 21 22

Looked online for information about the

home buying process11 11 16 15 7 8

Contacted a bank or mortgage lender 8 8 11 10 6 6

Drove by homes/neighborhoods 8 7 6 6 10 9

Talked with a friend or relative about

home buying process7 7 11 11 3 3

Visited open houses 4 4 2 3 5 5

Looked in newspapers, magazines, or home

buying guides3 2 2 2 3 2

Attended a home buying seminar 1 2 3 3 * *

Contacted builder/visited builder models 2 1 1 1 2 2

59

Number of Weeks in Home Search

2001 7

2003 8

2004 8

2005 8

2006 8

2007 8

2008 10

2009 12

2010 12

60

Info Sources Used in Home Search

2009 2010

Internet 90% 89%

Real estate agent 87 88

Yard sign 59 57

Open house 46 45

Print newspaper advertisement 40 36

Home book or magazine 26 23

Home builder 18 16

Relocation company 4 3

Television 8 7

Billboard 6 5

Every source was used less except one – YOU!61

2001 2003 2004 2005 2006 2007 2008 2009 2010

Real estate agent 48% 41% 38% 36% 36% 34% 34% 36% 38%

Internet 8 11 15 24 24 29 32 36 37

Yard sign/open house sign 15 16 16 15 15 14 15 12 11

Friend, relative or neighbor 8 7 7 7 8 8 7 6 6

Home builder or their agent 3 7 7 7 8 8 7 5 4

Directly from sellers/knew the sellers 4 4 5 3 3 3 2 2 2

Print newspaper advertisement 7 7 5 5 5 3 3 2 2

Home book or magazine 2 1 2 1 1 1 1 * *

Other 3 6 4 * * * * * *

Where Buyers Found the Home They

Purchased

62

Value of Website Features

Very UsefulSomewhat

UsefulNot Useful

Did Not Use /

Not Avail

Photos 85% 14% 1% 1%

Detailed information about properties for sale 83 16 1 1

Virtual tours 61 27 5 6

Real estate agent contact information 45 35 10 10

Interactive maps 43 35 10 12

Neighborhood information 40 43 9 8

Pending sales/contract status 33 35 16 16

Detailed information about recently sold properties 30 39 16 15

Information about upcoming open houses 21 34 22 23

63

Websites Used in Home Search

2005 2009 2010

Multiple Listing Service (MLS) website 50% 60% 59%

REALTOR.com 54 46 45

Real estate company website 38 46 43

Real estate agent website 31 45 42

Other website with real estate listings 11 30 41

For-sale-by-owner website * 17 15

Newspaper website 15 9 8

Real estate magazine website 6 4 4

Social networking websites (e.g. Facebook, Myspace, etc.) * 1 2

Video hosting websites (e.g. YouTube, etc.) * * 1

Warning: Get Better or Get Left Behind!!!64

Method of Home Purchase

2001 2003 2004 2005 2006 2007 2008 2009 2010

Through a real estate agent or

broker69% 75% 77% 77% 77% 79% 81% 77% 83%

Directly from builder or builder’s

agent15 14 12 12 13 12 10 8 6

Directly from the previous owner 15 9 9 9 9 7 6 5 5

Through a foreclosure or trustee

sale1 1 1 * 1 1 3 10 4

Buyer Rep. Arrangement with Agent

2009 2010

Yes, a written arrangement 43% 40%

Yes, an oral arrangement 19 17

No 28 29

Don’t Know 11 13

66

What Buyers Want Most from Agents

Help with the price

negotiations

14%

Help buyer negotiate

the terms of sale

12%

Help with paperwork

10%

Determine what

comparable homes were

selling for

6%

Help determining

how much home

buyer can afford

3%

Help find and

arrange financing

2%Other

3%

67

How Buyers Found Their Agent

2005 2009 2010

Referred by (or is) a friend, neighbor or relative 44% 44% 48%

Internet website 7 10 10

Used agent previously to buy or sell a home 11 10 9

Visited an open house and met agent 7 6 7

Saw contact information on For Sale/Open House sign 6 7 6

Walked into or called office and agent was on duty 4 4 5

Referred through employer or relocation company 4 4 3

Personal contact by agent (telephone, email, etc.) 3 3 3

Newspaper, Yellow Pages or home book ad 2 1 1

Direct mail (newsletter, flyer, postcard, etc.) 1 * *

Other 6 6 7

68

Number of Agents Interviewed by Buyers

2002 2005 2009 2010

One 59% 64% 66% 64%

Two 22 20 19 21

Three 19 10 10 10

Four or more -- 5 6 6

69

Reputation of agent

20%

Agent is friend or

family member

17%

Agent’s knowledge of

the neighborhood

12%

Agent has caring

personality/good listener

11%

Agent’s association

with a particular firm

3%

Professional

designations held by

real estate agent

2%

Other

5%

Most Important Factors When Choosing

an Agent

70

2005 2009 2010

Good financial investment 94% 87% 85%

Better than stocks * 54 47

About as good as stocks * 26 30

Not as good as stocks * 7 9

Not a good financial investment 1 3 4

Don’t know 5 10 11

Buyer’s View of Home as a Financial

Investment

71

Only 9% did!!!

Would Buyer Use Agent Again or

Recommend to Others?

72

Method Sellers Used to Find Agent

2005 2009 2010

Referred by (or is) a friend, neighbor or relative 43% 40% 41%

Used agent previously to buy or sell a home 28 24 23

Personal contact by agent (telephone, email, etc.) 5 5 4

Visited an open house and met agent 4 5 4

Referred by another real estate agent or broker 3 4 4

Internet website 2 3 4

Saw contact information on For Sale/Open House sign 4 3 3

Referred through employer or relocation company 3 5 3

Walked into or called office and agent was on duty 2 3 2

Direct mail (newsletter, flyer, postcard, etc.) 3 3 2

Newspaper,Yellow Pages, or home book ad 2 2 2

Advertising specialty (calendar, magnet, etc.) * 1 1

Other * 5 6

73

2002 2010

One 76% 66%

Two 16 19

Three 8 10

Four -- 3

Five or more -- 3

Number of Agents Contacted Before

Deciding Who to Sell Home With

74

What Sellers Most Want from Agents

2005 2009 2010

Help price home competitively 17% 22% 23%

Help find a buyer for home 28 21 21

Help seller market home to potential buyers * 19 20

Help sell the home within specific time frame 27 19 19

Help seller find ways to fix up home to sell it for more 12 10 7

Help with negotiations and dealing with buyers 5 5 5

Help with paperwork/inspections/preparing for settlement 7 3 4

Help seller see homes available to purchase 3 1 1

75

2005 2009 2010

Reputation of agent 57% 36% 35%

Agent is honest and trustworthy * 21 23

Agent is friend or family member * 16 16

Agent’s knowledge of the neighborhood 17 13 12

Agent has caring personality/good listener * 6 4

Agent’s association with a particular firm 6 4 4

Professional designations held by agent 3 1 1

Other 17 3 4

Most Important Factors in Choosing an

Agent to Sell Home

76

Negotiating Commission Rate or Fee

2009 2010

Real estate agent initiated discussion of compensation 44% 44%

Client brought up the topic and the real estate agent was willing to

negotiate their commission or fee25 25

Client brought up the topic and the real estate agent was not willing to

negotiate their commission or fee9 9

Client did know commissions and fees could be negotiated but did not

bring up the topic10 10

Client did not know commissions and fees could be negotiated 13 11

77

Only 24% of sellers use the same agent they used

previously to buy or sell a home.

Would Seller Use Agent Again or

Recommend to Others?

78

Method Used to Sell Home

2001 2003 2004 2005 2006 2007 2008 2009 2010

Sold home using an agent or broker 79% 83% 82% 85% 84% 85% 84% 85% 88%*

For-sale-by-owner (FSBO) 13 14 14 13 12 12 13 11 9**

Sold to home buying company 1 1 1 1 1 1 1 1 1

Other 7 3 3 2 3 2 2 3 3

* Highest Level in 9 Years!

** Lowest Level in 9 Years!

79

Incentives Offered to Attract Buyers

2009 2010

None 58% 56%

Home warranty policies 21 25

Assistance with closing costs 18 20

Credit toward remodeling or repairs 6 5

Other incentives, such as a car, flat screen TV, etc. 3 4

Assistance with condo association fees 1 1

Other 5 4

80

Annual KW MLS StudyTop 5 Full Service vs. Top 5 Limited Service

81

Median Commission Rates

Overall commission rates softened slightly in 2010,

averaging 5.42%.

Source: KWRI Internal Commission Studies

Median Commission Rates – Seller Side

Seller side commission rates decreased slightly by less

than a tenth of a point.


Median Commission Rates – Buyer SideBuyer side commission rates decreased more than a

tenth of a point to 2.86% in 2010.


Median Commission Amount – Seller Side

Median commission amount on the seller side increased by 26% due to a substantial 23% gain in

the median price of homes in the sample.


Median Commission Amount – Buyer Side

On the buyer side, commission amounts increased by approximately 11% due to a 4% increase gain in

the median price of homes in the sample.


So, What Do We Do?

87

Marnie Bennett

1. Have a business plan/ know your goals and numbers

2. Invest in yourself through education and training. Set aside time and

money specifically for that purpose

3. Be willing to adapt and embrace change / Internet, Social Media

4. Recognize what’s working for you, and more importantly what’s not

working – What is your Unique Selling Proposition?

5. Be aware of your weaknesses and work to overcome them – or hire

smartly to complement your skill set

Bennett Real Estate Professionals

Ottawa, Ontario

260 units

$3.9M GCI

$73M closed volume

88

Chris Heller

1. Create the habit of discipline to do your job every day

2. Focus on the two E’s: efficiency and effectiveness

3. Desire – “Be willing to do whatever it takes”

4. Improve your versatility, the ability to deal with a wide variety of

people

5. Absolute commitment to having a schedule and following a

schedule

The Heller Real Estate Group

San Diego, CA

149 units

$2.2M GCI

$86.5M closed volume

89

Ben Kinney

1. The market should dictate your activity

2. Take listings and focus on pricing

3. Market for cheap

4. Leverage the Internet

5. Focus on the activity not the result

Bellingham, WA

278 units

$1.6M GCI

$64M closed volume

90

“Persistence and determination alone

are omnipotent. The slogan „Press On‟

has solved and always will solve the problems of the human race.”

- Calvin Coolidge

91

PRESS ON!

92

2011 Vision Speech-KW Beverly Hills Highlights

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Transcript of 2011 Vision Speech-KW Beverly Hills Highlights