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So, momentum is a corner stone concept in physics. It is conserved quantity, mass times velocity.. Sound familiar? A little bit right? Let’s use it in a sentence, ok? “The car gained momentum as it drove faster down the hill.” Or, “The actress lost momentum after two unsuccessful films.” No, this isn’t a bad dream of 8^th grade science, I promise.

Let’s take the stock market for example. Momentum is the underlying factor of trend analysis of stock prices. Once a momentum trader sees an acceleration in a stock’s price, earnings, or revenues, the trader will often take a long or short position in the stock with the hope that its momentum will continue in either an upwards or downwards direction. This strategy relies more on short-term movements in price rather then fundamental particulars of companies. But, it works.

Each week I have the great opportunity to consult with many top agents and hear what is happening in the market.  I visit open houses on the weekends and attend masterminds where agents come together to discuss the state of the market. I can say with 100% certainty that we have this great driving force, RIGHT NOW, in the market. I recently visited an open house of one of our Keller Williams agents. The home had been on the market just a few days. When I entered the property, there were two couples in the home. They seemed to like the house but not overly excited by it. Within a few minutes two other couples arrived. The excitement and really tension began to build and the buzz practically could be felt. The momentum created the “worry feeling” that someone else might buy the home and the next day an offer was submitted and another one on the way. That is momentum. The great thing about it is that we can cause it, create it, make it happen!

Social networking, reverse offers, 6 step open houses; all examples of creating momentum in your market place. Are you packing the homes with people to create excitement? Are you creating Facebook pages to draw people in to your inner circle and providing them with value and messages that create activity and action? If you aren’t someone else is. And, they are doing it right now!

I challenge each of you to build upon this opportunity. I challenge you to draw people in and create more momentum through purposeful activity in your business. This is your opportunity. It is one that you have been waiting for and that you deserve. It requires you to wake up every day and say to yourself “I will find someone today, who needs to buy or sell real estate.”

I’ll leave you with this script for your sphere. “Mr. and Mrs. Sphere of Influence, the market has identified three great opportunities for buying a home. These are opportunities that we may never see again in our life time. First time home buyers, move-up buyers and investment buyers have the ability to benefit now from this market. Who do you know that falls in to one of these three categories?”

Do it, benefit from it and then please share it… That is how momentum continues…

Responsibility
Bear Bryant, the legendary Alabama football coach, was once asked, what was the key to his coaching success. He thought for a second and said, “When we win I give them (the players) all the credit and when we lose I take all the blame.” He smiled and walked away. When things go wrong, great leaders take full responsibility for the results. No excuses. Harry Truman made this clear when he uttered his famous four words…“The buck stops here!”

In one of Ronald Reagan’s cabinet meetings, General Colin Powell presented an idea he was passionate about. This discussion went on for about an hour with Reagan asking tough questions because he felt the proposal had flaws. In the end, however, he said, “Colin, it’s your call. If you think it will work, we’ll go for it.”

A few months later, however, Reagan was grilled at a news conference because the plan had failed miserably. One of the reporters asked the question, “Whose idea was this; yours or someone else’s?” Reagan didn’t hesitate. He said, “I take full responsibility.” He then glanced at Powell sitting in the front row and saw tears welling in his eyes.

After the news conference, Powell walked over to a friend and said, “I’d do anything for that man.”

Let’s take a second and look at how taking responsibility applies to my business, Dark Horse Recording.
• When people under my employ don’t come across warm and hospitable on the phone, whose responsibility is it?
• If my electric bill skyrockets because one of my employees left all thirteen central air systems on over the Christmas holidays, whose responsibility is it?
• If one of my biggest clients starts recording elsewhere…because we weren’t up on our game…perhaps a grounding problem…or some of the equipment wasn’t working to 100% satisfaction…whose responsibility is it?
• If my bills don’t get paid…If my invoices don’t get collected…If lightning strikes and wipes out Bill’s computer files in the front office because they weren’t backed up…whose responsibility is it?

IT’S MINE.

I guess you can see where I’m going with this. Bottom line, these things are all MY RESPONSIBILITY.

Remember, failure to hit the bull’s eye is never the fault of the target. That’s why successful leaders focus on responsibility over blame. Many people want to wear the cloak of leadership, but remember, with it comes the burden of responsibility.

Believe it or not, we DO understand that leadership isn’t easy. We watch every day and see you assume incredible responsibilities. You’re accountable for your actions and for our actions, plus all the fiscal requirements, employee problems, feedback, training, technology changes, hiring, de-hiring, communicating, staff development, prioritizing, eliminating unnecessary bureaucracy, and much more. Your job is tough. But it is the job you chose. And, you CAN do it.

It is hard to believe we are about to be looking back at the first quarter of 2009. Were you able to put the points on the scoreboard you had planned for? Get destructive with your positive mindset, make multiple buyer offers and reverse offers with sellers. Use the market statistics to place you and your client against the market. And practice, practice, practice your scripts!

Everything you do counts.
Make it count!

Knowing your numbers has taken on a whole new meaning in the last year. Though it was always crucial to know the market and where you stand, now more than ever does could it mean the difference of 30 days on the market or over 100 days. It could mean the difference of 96% of list price or 83% of list price. It could mean your reputation.

Knowing the key numbers could also mean the difference of just getting to the table in the first place. And in our current market where buyers are more challenging to come by, this is very important. So what are some key talking points to look at? And, by the way, we are 5 of only 10 offices in Atlanta that have access to this compiled data and charts! Thank you Chuck Carr (chartmasterchuck@aol.com) So, take a look at some key areas please. 1. Average days on market for listings that require a price reduction vs. those that don’t. We are looking at a difference of 2-3 (sometimes 4) times longer on the market depending on area and price point. 2. Another important number is the % of closed transaction from the same period year prior. If you look at the entire metro Atlanta detached we are down about 22%. Intown areas are down 11.7% and condos a whopping 29%. 3. The % of failed (overpriced) listings has increased to over 70% in all categories. 4. Finally, the decline in the median price point. Prices have not been this low since 2003!

So the good news is we have the information. The information really isn’t good or bad, it is just the facts, the market that we have. It is what we do with this information NOW that will determine if it is a positive or negative in our business. With over 33,000 properties sold in the Atlanta Metro Area this year and looking at the 80/20 (really 90/10) principle in our business, there is plenty to go around and you can get YOUR unfair share. The other piece of good news is we know what the challenge in this market it. PRICE! Yes, PRICE! Inventory has stabilized somewhat and now our greatest marketing strategy is price. Now what? Get aggressive! Create a worry price that will force buyers to make offers. Make reverse offers and create bidding wars! View properties that are under contract and be the best priced, best looking home on the market. Give incentives on your listings; hoa fees, buy down the mortgage. Remind buyers that they can always turn down an offer but let’s make sure we get one.

This information arms you with data for this wartime market. Get in the game because if you don’t you are just a spectator! You CAN do it!

I hope you will continue to join us at the quarterly presentation of these statistics. The information can also be found on your office intranet.

On another note, I hope you will be joining your proud leadership team in Orlando at the end of the month to participate in what no doubt will be one of the best learning and networking opportunities we have! Consider that expense tactics in SHIFT and share a room or even rent a condo/villa close by at Vista Cay. (3 bedrooms going for 269.00 a night and 2 bedrooms as low as 129.00 a night). I do hope to see you there.