Ever Think about Your Online Reputation?

Hey, it’s a tough market out there. And not all transactions can or will go smoothly. But these days there is a relatively new wrinkle on the consumer side that you have to keep in mind and take seriously. I am referring to the power of both positive and negative reviews of your performance posted by buyers and sellers on the Internet. Should you even pay attention to this? Consider these facts from a recent 2011 study done by the Cone Online Influence Trend Tracker:

• Four out of five consumers have changed  their minds about a recommended purchase or service based solely on negative information they found on the Internet.
• 87% of consumers agree that a favorable review has confirmed their decision to purchase
• 89% of consumers find Internet channels trustworthy sources

So, what can you do? Well, first you can do your best to monitor what people are saying about you by using Google Alerts. Google Alerts is a FREE service that will send you an email update based on a topic or search criteria such as anything about YOU. Your purpose is to be alerted when someone posts something about you, your web site or any other online service you provide. Do this:

1. Go to Google Alerts at http://www.google.com/alerts
2. Before doing anything else go to the bottom of this page and click the link labeled “Google Alters Help”. Take the time to read about Google Alerts and how best to take advantage of it.
3. After reading all that you need in Google Alerts Help, create your alert(s) and adjust the frequency of the email notifications.
4. If someone does post something negative about you, do your best to contact them to inquire about it. There may be nothing you can do but your interaction may have positive results. Either way it’s good to know so that you can counteract it if and when you can.

Read a good recent article on your online reputation here. 

Review a valuable slide show presentation entitled “Online Reputation Management for Real Estate Professionals” here.

QRMs (Qualified Residential Mortgages)

“Antennas Up – Realtors:  You have heard about the QRMs (Qualified Residential Mortgages) in our industry publications.  I came across these charts in the Keeping Matters Current website and thought they were VERY interesting.  Proposals are that the QRMs would require a 20% down payment.  On the 1^st chart see how long it would take the average family to save 20% – 14 years!!!

 Also part of the QRM is a  28/36 ratio for qualifying.  For those of us selling two decades ago or more this is not new; but, look at the 2^nd chart.  Almost half the folks attempting to qualify would not be able to get a loan if the 36% back end ratio were to come back into the marketplace.

 I mention this information so that when NAR gives us a call to action on the QRMs you will know the impact to our business and respond.”

 

 

 

Realtor Safety Month

“September is Realtor Safety month. Check out http://www.Realtor.org/Safety for some good information. Remember…be cautious! I know the market is tough and in our zest to make a sale we may forget our good sense. It’s not worth taking a chance. If something doesn’t feel right – Don’t do it! Many years ago when I served as NVAR President we had a rash of attacks and we lost an agent. It was the worst thing to have to deal with as a leader of the Realtor family and I would not want another Chairman to have to go through that. Be Safe!”