I’ve Been Tagged
December 19, 2006 | 2 Comments
Oh man, talk about timing. I have been out all weekend and I come back to the computer to find that I have been tagged by Kris Berg to participate in a chain post making its way around the blogs. It would appear that my task it to tell you 5 things about myself that you don’t already know. This could be tough, but here goes:
1) My wife, Kari, and I were high school sweethearts. We started dating in 11th grade (10 years ago, yesterday). We then graduated high school together, attended one college together, transferred to another college together, graduated and were accepted to law school together. In fitting fashion, since we didn’t go to law school, we started a real estate business together (with my mother-in-law, of course). Some people may find this strange, some people find it touching, I find it perfectly normal, and wouldn’t have had it any other way.
2) I was Valedictorian of my High School graduating class (Fluvanna County High School ‘98). There were actually 6 Valedictorians that year. To be quite honest with you, I don’t know what happened to most of the others. One is currently a teacher in the school district, one went into the Navy, and I don’t know the fate of the other four. I volunteered to give the Valedictory address. I have always taken after my Mom’s love of public speaking.
3) My wife and I were married at Oak Alley Plantation in Vacherie, Louisiana, about 45 minutes outside of New Orleans. We always wanted to have a big plantation wedding. Instead, we had a small wedding (40 people) at a big plantation. November 4th, 2004 was a beautiful day as Louisiana days go (not just because it was my wedding day), 70 degrees and not a cloud in the sky. This was a good thing, since the wedding was outside. In case any of you reading are thinking of getting married and having a destination wedding, DO IT. It was totally worth it. We love the city of New Orleans, and it will always have a special place in our hearts.
4) I can’t drive a manual transmission car. I don’t particularly think this should be all that surprising, but apparently it is. One of the cars that we own is a stick, and Kari is the only one that drives it. She tried to teach me how to drive once, but for the sake of our relationship, we decided it was better if she just drove it. In fairness, she will tell you that she doesn’t like to drive, so when the two of us are together, I usually get the driving duties. That’s fine by me, but it is automatics only.
5) I don’t have a colon. Okay, this is probably going to gross some people out, but I had my colon removed in March. No, it wasn’t cancer. I had a condition called Chronic Ulcerative Colitis. I had it for about 2 years before I decided to go ahead and have my colon removed. To be honest, it was the most difficult process I have ever been through. Without the support of my friends, family, and ESPECIALLY my wife, it would have been unbearable. On the positive side, I did get to go the the Mayo Clinic for the surgery. Let me tell you, the people who live in the Minneapolis area who go the the Mayo Clinic regularly have NO CLUE what health care is like in most of the country. If every hospital were run like the May Clinic, no one would EVER complain about health care in America.
Well, I guess those are my five things. Now, I think I will tag Jim Duncan. He’s in the area, so it only seems right. . .
Sellouts Don’t Make Good Agents or Referees
December 14, 2006 | 2 Comments
In my daily RSS readings, I came across two posts from the Bergs, San Diego real estate bloggers extraodinaire. The first, by Steve, recalled a comment from another agent who essentially betrayed his client. The second was an admonishment by Kris regarding Steve’s choice of the term “discount broker.” She also reminded all of us that such conduct is not restricted to any one segment of the agent population.
The situation that Steve describes is something that can happen in real estate, and comes up often in sports officiating as well. I can’t tell you how many times during a basketball game a coach will approach one official about the call of a partner. At that moment, it is absolutely critical that the official who is talking to the coach say or do NOTHING that could even be remotely construed as selling-out his partner. Generally, it is a good idea to say something like, “He was in the best position to make the call, coach.” If the coach has a real question about the call, a good response is, “You are going to have to ask my partner, coach” or, “I will ask my partner about it.” The worst thing that can happen is a comment like, “Yeah, that was questionable” or, “I wouldn’t have made that call.” Either of those will get the referee and his partners in major trouble very quickly.
The situation that Steve describes fits into the latter set of responses. In both the real estate scenario and the officiating scenario, such a comment is usually the product of a desire to escape blame, responsibility, or embarrassment. The sellout referee doesn’t want to catch the wrath of a coach for the call of his partner, and the sellout REALTOR doesn’t want to suffer the embarrassment of an overpriced house. In both cases, each person shifts the blame to someone else, be that another referee or the home seller. In both cases, the offending party should worry less about being embarrassed, and more about being an embarrassment his profession.
If an agent thinks that a client’s home is overpriced, there is a time and place for expressing such opinions. Preferably, it is done with the client in private, not with potential buyer’s agents in public. Referees disagree will occasionally disagree on calls. They are very aware, however, that the place to voice such disagreement is in the privacy of the locker room, and not on the very public field of play.
In officiating, the selling out of partners has very immediate effects that are felt by everyone wearing stripes. In real estate, the consequences of selling out a client aren’t quite as easy to see or quantify, and their effects may not be felt for weeks or even months. On the other hand, the effect of selling out a partner official on the field or court is usually emotional and psychological, while the effect of an agent selling out a client will definitely be monetary. Most people can get over a bruised ego or hurt feelings; getting over the loss of what might be tens of thousands of dollars is an entirely different situation.
Either way, don’t be a sellout.
[tags] real estate, realtor, charlottesville, virginia, ethics, officiating, agency [/tags]
Zebra Birthday
December 14, 2006 | 2 Comments
Today is my birthday. My local association of REALTORS sent me an email wishing me a happy birthday containing links to interesting facts about my birthday. To be quite honest, most of it was underwhelming. Apparently, nothing of note happened on December 14, 1980 (with the exception of my birthday). I did, however, find out some interesting things about December 14th in history:
Nostradamus was born on December 14, 1503.
George Washington died on December 14, 1799.
Patty Duke was born on December 14, 1946.
Baseball player Bill Buckner was born on December 14, 1949. I find this interesting since I am a big New York Mets fan, and it was Bill Buckner’s error on Game 6 of the 1986 World Series that helped the Mets win the Series that year.
Baseball player Craig Biggio was born on December 14, 1965. I thought this was interesting because his mother was actually one of my teachers in elementary school.
Later this evening, I will be celebrating my birthday by officiating a High School Girls’ Varsity basketball game. Luckily, I was able to celebrate with my wife yesterday over a very fine dinner. She also gave me a gift– Zebra pattern cuff links. They are mother-of-pearl and onyx set in silver. They are sharp all by themselves, but I look pretty sharp wearing them today, if I do say so myself. That is just one of the many reasons that I love my wife, she supports and indulges my craziness, in real estate, blogging, officiating, and life.
Charlottesville Area November Stats Show Us Market Isn’t All Bad
December 11, 2006 | 1 Comment
Winter is just around the corner, and it is time to take a look at the Charlottesville area market statistics for the month of November. As always, the stats are taken from the Charlottesville Area Association of REALTORS MLS, and the areas represented make up the localities that form the Charlottesville Metropolitan Statistical Area.
November Sales By Area
2006
2005
Breakdown:
In what has beginning to sound a bit like a broken record, every area was down, with the lone exception of Charlottesville (+12%). Albemarle slipped 23%, Fluvanna 41%, Greene 25%, and Nelson 45%. Over the entire Charlottesville MSA, the November sales were down 26% compared to 2005.
One thing that I found curious about the stats was the doubling of the Days on Market (DOM) in Albemarle and Charlottesville from 2005 to 2006. This added a full month to the overall DOM for November 2006.
Year-to-Date
2006
2005
Breakdown:
Again, for the entire year, every area is down except for Charlottesville (+36%). Most of the gains made in Charlottesville have been from condo sales, which may explain the fact that both the average sales price and median sales price actually went down in Charlottesville in 2006. Comparing 2006 to 2005, Albemarle is down 15%, Fluvanna down 19%, Greene down 5%, and Nelson down 48%. Combined, this puts the area 11% behind the record-setting pace of 2005.
The news is not all bad, however. In looking at the median sales price for 2006 compared to 2005, the area is experiencing a healthy price appreciation. Overall, the median price has risen 6% through November of 2006. The median price is up in Albemarle (+12%), Fluvanna (+6%), Greene (+13%), and Nelson (+2%). Charlottesville’s median price has gone down 2% in 2006, probably as a result of the massive increase in condo sales in the city. Price appreciation is a sign of a healthy market, despite the fact that the number of sales may be down.
Inventory History
The following chart shows the inventory history for the same areas (Albemarle, Charlottesville, Fluvanna, Greene, Nelson) in 2005 and 2006:
Breakdown:
November is the first month in 2006 that showed a significant decrease in the total inventory for the Charlottesville area. This brought the figure for Months Inventory under 10 months for the first time since August. Inventory is at historical highs, but the fact that it is going down, during what has traditionally been the slowest time of the year, is a good thing.
Final Analysis
The one aspect of the market that seems to pose the most danger is the inventory. While the overall inventory may be going down, it is rising in some geographic areas and segments of the market. If the inventory rises and sales don’t keep pace, the increase that we have seen in the median home price may begin to slide in the other direction. Every market is going to try to reach an equilibrium where supply will equal demand. If the physical supply is too high, the price of that supply will have to be lowered to a more favorable point.
Sales may be down from the record pace of 2005, but homes are continuing to gain value, which means that 2006 isn’t exactly bad. Both sellers and buyers are simply going to have to adjust their expectations to meet the realities of the current market.
[tags] real estate, realtor, charlottesville, albemarle, fluvanna, greene, nelson, housing, housing statistics, housing sales, real estate sales [/tags]
Everyone Can Benefit from Real Estate Technology– Part 1
December 5, 2006 | 2 Comments
With the Web 2.0 movement changing real estate, there is much talk about disintermediation and transparency. Kevin Boer thinks that agents will never be disintermediated, and I happen to agree. Then there is an entire blog dedicated to transparency in real estate. Transparency is a good thing.
New technology affects just about every industry at some point, and sports officiating has been no different. While many in the officiating industry were initially very resistant to new technologies, the overall effect of these technologies has been mostly positive. In fact, technological advancements in officiating have served to actually enhance the standing and reputation of sports officials. The same could be true in real estate.
The technology that has had the greatest impact on sports officiating is instant replay. Instant replay is now part of professional basketball, football, ice hockey, tennis, and even NASCAR. The technology has made its way into college with at least football and basketball, and has even been used at the High School level in Minnesota for basketball and ice hockey championships.
As you might imagine, most officials were initially very resistant to allowing instant replay. Even to this day, there are those who feel that instant replay is bad for sports and for officials. While the merits of instant replay will always be debated, the actual effect of replay has been to make officials more accountable, and ro add a degree of transparency to officiating.
Accountability has increased because regardless of whether or not instant replay is used during the course of a game, video replay technology is used by officials to evaluate officials at every level. Video replay is a valuable tool for all officials because it allows them to see themselves on tape and review calls and plays at their leisure as many times as they would like. This type of review is impossible during the course of a game.
A common refrain among basketball officials is, “You better be able to beat the tape.” This means that when you make a call, you must not only be able to defend the call when questioned, but the videotape must show that you made the right call as well. When a mistake is on tape, there is no place to hide. Transparency is at its’ peak. College football experienced the potential negative consequences that can come with increased transparency earlier this year.
Transparency and accountability have positive consequences as well. At the professional level, video compilations are made specifically for officials so they can evaluate their own performance immediately after the game. In most major sports, video of the game is edited for the officials and they can download it for viewing on a laptop hours after the game has ended. This type of technology simply wasn’t available a decade ago.
The move to increased accountability and transparency through replay has made officiating better overall. Officials are now able to prevent mistakes by watching and analyzing game tape in much the same way that a team uses tape to prepare for a game. Officials have been able to use technology to their advantage in order to improve the way games are officiated. As a result, players, coaches and fans are able to benefit from the increase in the quality of officiating.
In my next post, I will explain how technology can increase accountability and transparency in real estate. Just as in officiating, everyone can benefit. . .
[tags] real estate, realtor, charlottesville, virginia, disintermediation, accountability, technology, web 2.0, instant replay, officiating [/tags]
Latest Carnival is Up!
December 5, 2006 | Leave a Comment
The latest edition of the Carnival of Real Estate is up at the Property Monger. Great content, as always, so check it out!
Learn Marketing Like a Referee
December 4, 2006 | 4 Comments
The High School basketball season has begun in earnest for me. Last week, I found myself at 5 games in three days. Three of the games were particularly close, and therefore hotly contested. These games reminded me of a major similarity between my role as a referee and my role as a REALTOR– the importance of marketing.
There comes a point in the career of every basketball referee when he or she learns that marketing is a key component of successful officiating. From the moment the officials step into the gym, someone is watching. Someone is interpreting their every move, from their physical appearance in uniform, to their body language. Once the game begins, marketing becomes even more critical. Officials must always convey an air of confidence while not appearing arrogant. Officials must be approachable, yet firm. The balancing act is constant.
One of my partners was working one of his first Varsity-level games this weekend. At one point in the game, he made a very good call, a varsity-level call. While the call was great, the way he marketed it was not. Consequently, one of the coaches gave him an earful. After the game, he asked me about the call. Because he caught some flack for it, self-doubt had crept in. I knew exactly how he felt, because I had been in his position plenty of times before. “The call was absolutely correct,” I told him, “but you need to let the whole gym see that you know it was correct.” He understood exactly what I was talking about. He just needed to realize the importance of marketing himself and his calls.
As important as marketing is to the referee, it is equally important to the real estate professional. Every REALTOR is keenly aware of the impact that marketing has on business. Whether it is the marketing required to sell a house, or the marketing required to garner prospective clients, marketing is omnipresent in the business of real estate.
One important thing for REALTORS to understand is that marketing isn’t just running ads or increasing Google page rank. Marketing is part of everything the agent does. Just as the marketing of a basketball official starts the moment he steps into the gym, REALTORS are marketing themselves in everything that they do.
Once someone knows that you are a REALTOR, everything that you do is going to be viewed through that prism. Everything that you do will now be a reflection upon your business. Everything from the quality of the advertisements and property brochures that you create, to the way you interact with your server at your neighborhood restaurant. Everything is an opportunity to market yourself and your business to potential clients.
For the basketball official, the impact of poor marketing is felt almost immediately, but any negative impact will hopefully last only a few minutes, or perhaps for a whole game. The basketball officials who are quick to learn the importance of marketing in what they do tend to be the most successful officials. In real estate, the impact of poor marketing may not be felt right way, but can certainly last longer than a few minutes. The faster a REALTOR can realize and take advantage of the perpetual marketing opportunities that exist, the more successful that REALTOR can be in the long term.
[tags] real estate, realtor, charlottesville, virginia, marketing, real estate marketing, officiating [/tags]
Charlottesville Area Stats Out Next Week
December 2, 2006 | Leave a Comment
November is behind us. The weather has made the appropriate change for this the 1st day of December. I will be posting the Charlottesville area market stats next week, probably Thursday or so. It should prove to be very interesting. . .
A Lean, Mean, 600-Word Blogging Machine
December 2, 2006 | 6 Comments
Having this blog means that I have to do quite a bit of writing. I like writing. I always have. So when I saw an ad seeking freelance writers in my latest issue of Referee Magazine, I decided to contact the editor. He read the blog and liked what he saw. Consequently, I will be writing a freelance article (and hopefully more than one) for Referee. Referee is the premier officiating industry trade publication, so I am obviously humbled by the opportunity.
The reason that I mention this is because one of the style guidelines for freelance articles in the magazine is that they be 400-600 words in length. At first, I thought to myself, “no problem.” Once I put fingers to keyboard, I discovered that getting my point across in 400-600 words is proving to be a bit more difficult than I thought for my first article.
I decided that what I need is some practice. Honestly, I’m not exactly the world’s most verbose writer, but I’m no Earnest Hemingway, either. Either way, no prose is ever hurt by a bit of fat-trimming. As such, I am going to do my best to make sure that my future posts on The Real Estate Zebra weigh in under 600 words (excluding quoted text). The way I see it, 400-600 words should be adequate to get most points across, and it is about as much as many readers are willing to take. I fully expect that there will be some issues that will require more than 600 words to effectively tackle, but I may just split those up into multiple posts.
This 600-word experiment should prove to be interesting, and in the end, an improvement to my own writing. Anything that makes me better makes the blog better as well.
[tags] real estate, realtor, virginia, charlottesville, blog, blogging, officiating, referee, writing [/tags]
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Disclaimer
My name is Daniel Rothamel. I am a licensed real estate agent in the Commonwealth of Virginia and a member of the National Association of REALTORS. As such, I adhere to a strict code of ethics and all laws with regard to equal housing, which is reflected in the content of this blog. My broker is Strong Team REALTORS, 86 Joshua Lane, Palmyra, VA 22963; (434) 589-5800. My VA Real Estate License number is 0225 077325. All of the opinions in this blog are mine, unless otherwise noted.
