Steve Koerber's Old Blog

Remuera's house sold name since 1998 – 021864166

Posts Tagged ‘success’

2009 the year in review

Posted by Steve Koerber on December 30, 2009

My January 2009 holiday reading included a brilliant book titled “The Four Hour Work Week”.  With the lure of eternal holidays I couldn’t wait to implement some of its efficiency strategies.  As a result I am now one of a handful of agents who provide instant information to people who enquire about my listings.  I do this by funnelling customers from property websites to my blog site where they find statistics, titles, Lim reports, appraisals, rates, maps, zoning, links, etc.  Clients have commented that my system is cutting edge in terms of real estate customer service.

February 2009 saw the world financial crisis in full swing with global bank failures, mortgagee sales, emergency meetings, job losses and stimulus packages.  Interest rates plummeted in an attempt to stabilise economies and keep people spending.  The local real estate market was limping along in an uncertain frame of mind.  In hindsight, the first half of 2009 was an excellent time to buy property. 

March 2009 was slower than any March I had seen in recent times.  Many of my sales saw clients accepting small losses.  Thankfully most had some immunity, especially those buying and selling on the same market.  The end of the financial year again saw me recognised in the elite top 2% of Barfoot & Thompson salespeople.  This year I finished with my highest ever ranking:  14th out of 1000+ salespeople.

I remember April 2009 as the start of a prolonged period of very thin Property Press magazines.  The catch-cry of most agents was that they couldn’t get enough listings to sell.  Sellers were fearful that if they sold they wouldn’t achieve a reasonable price.  In turn this meant that anyone who had sold was unable to buy due to dwindling stock levels.  This whole supply and demand imbalance eventually led to a significant revival in median prices throughout NZ towards the end of the year.  April also produced Susan Boyle’s rendition of “I dreamed a dream” and the rest, as they say, is history.

May 2009 marked the 13th anniversary of the commencement of my real estate career.  Way back in 1996 I made what seemed a huge decision to leave the Navy and join Vision Realty in Milford.  Vision was a unique group that didn’t believe in auctions or open homes.  Thankfully I was one of a chosen few who received a salary during my first year.  Without that fortuitous easing into a commission only sales role I’d probably be onto my third or fourth career by now.  In May I returned to Sydney for my yearly dose of inspiration and learning at the Australasian Real Estate Conference (AREC09).

June 2009 saw the untimely death of one of the world’s most influential entertainers, Michael Jackson.  It also marked a turning point that saw a distinct shift from buyer’s market to seller’s market.  All of a sudden properties were receiving multiple offers and the Barfoot & Thompson auction rooms were full again.  Barfoot & Thompson’s Auckland market share held well above 30%, and in Remuera we achieved a creditable 50% share of the market for much of the year.  I took most of June off and spent time with my family.

In July 2009 I published my thoughts on how to solve New Zealand’s leaky home crisis.  My main concern was that naïve buyers and immigrants were at great risk of being stitched into homes that were clearly worth less that they had paid.  The new Real Estate Agents Act has made it harder for this to happen, but there are still significant risks for people who buy privately.  The entire leaky home saga in NZ is a bigger can of worms than most people realise.  I believe we need a Royal Commission to sort the mess out.  If Government keeps side stepping the blame and stalling a decent compensation plan, by 2014 no-one will be able to make a claim to help with the cost of repairs to a leaky home.  I meet people every week who own at-risk homes.  Some are aware that their asset is at risk of losing value but the travesty is that most are completely unaware of the stigma that surrounds at-risk homes built (broadly) between 1991 – 2003.  If you have one of these homes, whether you’re selling or not, please feel free to have a chat with me about it.  If you do nothing else, I urge you to get a professional building inspection report ASAP.  This could prove to be the best advice you’ve received so far in 2010!

August 2009 saw the world’s fastest man, Usain Bolt, lower his world record time for the 100 metre sprint to an astonishing 9.58 seconds.  Having been a keen runner as a youngster I was in total awe of his achievement.  The number of monthly sales recorded by Barfoot & Thompson was an incredible 65% higher than in August 2008.  This remarkable result provided a great check on how bad things really got in 2008.  I trust we won’t see slumps like that again!  I made my 35th sale in Armadale Rd Remuera.  It sold about $100,000 above an ousted competitor’s estimated appraisal.  I always enjoy results like that.

I spent September 2009 listing quite a few homes.  Spring is always a busy time for me.  The world lost Patrick Swayze, the Commonwealth expelled Fiji and Samoans started driving on the left hand side of the road.  The All Blacks lost the final Tri-nations game to the Springboks 29-32.

October 2009 felt just like October 2006.  The market was booming and my phone and email inboxes were overflowing with enquiries.  During the month I received an unprecedented 200 email enquiries at a rate of over six per day.  On one Thursday I received an incredible 26 enquiries in addition to numerous phone calls and physical inspections.  Not surprisingly a beautiful home in Omahu Rd Remuera attracted eight bidders and fetched a top price for the thrilled owners.  It was the year’s most exciting auction and the talk of the town for weeks afterwards.

November 2009 was one of my busiest on record.  I had so many open homes that my weekend working hours eclipsed my week day hours.  One particular week I was marketing four similar grammar zone villas within close proximity of each other.  Having that much control over the local market put me in contact with a huge number of customers focused on buying in Remuera.  During January most of these people will receive calls & emails telling them about my new listings as they hit the market.  November also saw the introduction of the Real Estate Agents Act 2008 administered by the new Real Estate Agent’s Authority (REAA).  It was a much needed and positive change designed to better protect consumers and improve the real estate industry’s public image.

In December 2009 most economists decided the GFC was probably over and positive GDP growth was in sight.  Simultaneously the US government raised their official debt ceiling to US$12.394 trillion. Personally I can’t get my head around how that debt could ever be paid off, especially when you consider that 12.394 trillion seconds equals 396,608 years – gulp!  On the home front Auckland median prices had risen an astonishing 14% over the past 12 months.  My crystal ball tells me that prices will rise in 2010 but probably not as much as they did in 2009.  Christmas with Gillian, Katie (15), Charlotte (6) and Joshua (4) was spent with Grandma in Thames before we embarked on our most ambitious family holiday yet – the details of which will be revealed in my 2010 yearly review. 

I really enjoy helping people to buy and sell properties.  If you need my advice or services in 2010 I’d love to hear from you.  Remember I can also help your friends and family outside my area by putting them in touch with a proven professional from within my established personal network.

Here are some thoughts for a successful 2010:  

“Success is reached by being active, awake, ahead of the crowd, by aiming high, pushing ahead, honestly, diligently, patiently: by climbing, digging, saving; by forgetting the past, using the present, trusting in the future; by having a purpose, fainting not, determining to win, and striving to the end”

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The Go-Giver Book Review

Posted by Steve Koerber on February 25, 2009

The Go Giver – Bob Burg & John David Mann the-go-giver

This book was given to me by my good friend Anne-Marie Koszegi.  I can’t praise this little book highly enough.  I think it should be compulsory reading for real estate agents…and for everyone on the planet for that matter.  It’s a quirky parable about business success and how to achieve it.  Five Laws of Stratospheric Success are described in this amazing book:

1.  The Law Of Value – Your true worth is determined by how much more you give in value than you take in payment.  Exceed people’s expectations. You give, give, give.  It’s not a strategy, it’s a way of life.

2.  The Law of Compensation – Your income is determined by how many people you serve and how well you serve them.  You determine your level of compensation.  If you want more success, find a way to serve more people.  There are no limitations on what you can earn, because you can always find more people to serve.

The Go-Giver explains the three universal reasons for working.  SURVIVE – to meet your basic needs.  SAVE – to go beyond your basic needs and expand your life.  SERVE – to make a contribution to the world around you.  Most people spend their lives focusing on the first.  However, genuinely successful people in ALL aspects of their lives keep their focus on the third.

3.  The Law Of Influence – Your influence is determined by how abundantly you place other people’s interests first.  If you place other people’s interests first, your interests will always be taken care of.  Watch out for what other people need, with the faith that when you do, you will get what you need.  Giver’s attract.

4.  The Law of Authenticity – The most valuable gift you have to offer is yourself.  This law is an easy one: BE REAL. Dynamic people talk with and to you, not AT you.  It says in the book that if you want people skills, then BE a person.

5.  The Law of Receptivity – The key to effective giving is to stay open to receiving.  Receiving is the natural result of giving.  Every giving can only happen because it is also receiving.  The Go-Giver says that all the giving in the world won’t bring you success, won’t create the results you want, unless you make yourself willing and able to receive in like measure.

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More on networking

Posted by Steve Koerber on December 6, 2007

Over the past year I’ve actively boosted my referral network of real estate salespeople and managers.  I regularly keep in touch with past and potential clients via a personalised monthly letter.  So at the beginning of 2007 I thought “why not keep in touch with staff in my own company” as well.  So I hand picked 200 plus Barfoot & Thompson staff, plus others from overseas and throughout NZ regional centres.

The next question was “what do I write to them about”?  So I decided to offer them insights into how I work and share ideas that have worked for me.  The response to my monthly letters has been overwhelming.  

The moral of the story?  I actually didn’t expect to get anything back from this activity, but the reality is that a growing number of my colleagues refer opportunities to me and share my enthusiasm for sharing knowledge.  

The unconditional sharing of knowledge is a powerful business tool that shouldn’t be underestimated.  And business just keeps getting better and better.

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