Record foreclosures and lower prices along with 900 new residents moving into the Sunshine State each day have produced a new type of market. The bubble burst long ago in Florida. Prices have dropped by as much as half from their record peak and ready buyers who are willing to be patient are negotiating some of the best deals in years (http://www.housingpredictor.com/florida.html).

Even as Florida was one of the worst states to get effected after the 'burst', there is still business to be generated. Building an online presence is crucial to the development of your business. Lead generation from other states and cities outside of your home market is vital to your success.

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It definitely helps to keep your ear to the ground and maintain an awareness of your town or cities future prospects. This also gives you an idea of your future real estate market. With multiple medical research and educational facilities looking to join the Central Florida area, this knowledge is motivating to keep on track and prepare for potential clients searching the web in need of a home. With precise lead capture pages, this ensures the ability to real in a future commission. With a future influx of people moving from other states, it is imperative to sustain the right presence to the potential clients.

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Today while I was looking for something to drink on my lunch break and I guess I must have looked like I was lost because what I am assuming was the manager of the store I was in stopped what he was doing and asked me if there was anything he could help me with and I went on to explain that the drink that I was looking for was not in stock. They carried the brand, (Sobe) just not the flavor I was particularly looking for. He then went on to send someone to look in another section for me and continue to ask me if I was a frequent shopper at that location, and if they were to start to carry that flavor in the front, would that better my experience in the store.

Now I know thats standard customer service, but I have noticed that when times are tough, majority of people are still looking out for others best interests and if anything are willing to go that extra mile just to keep that individual as a customer. Not that I was dying for the drink, but it felt good to know that they were interested in what people specifically need and what makes them happy. Even if it was just a simple Melon Sobe.

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Its tough when one of my best friends tells me that he can't even afford to buy and stock motorcycles on his lot anymore. As the manager of a used vehicle lot, he told me that practically all of his secondary financing companies have all but closed down or just can't afford to issue any new loans. This makes it pointless to floor used motorcycles because unless someone comes in with practically all cash, he can't offer financing on any motorcycles. Sad that it has come to this.

Funny thing is that his dealership has been generating 2/3 of their income from internet sales compared to drive by business during the last year. Just not motorcycles.

The Power of the Web.

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As I ride through town, on what was a breathtakingly ideal Thursday morning, I can't help but feel angst towards the current market conditions, but at the same time, eager to see when the housing prices will cease to decrease. The real estate market has its ups and downs. We were blessed/cursed, with a strong/untamed market. Whatever your perception, we are now seeing the effects of those times. Fortunately for some, this turning point has potential to be very rewarding.

Almost three years ago, I was living well, partnered up to start a new brokerage in downtown Central Florida, preparing to concur what we felt to be a HOT condo market. Needless to say, that dream did not turn into a reality and unfortunately neither did the new real estate company.

With a database full of cold, uncommitted buyer leads and multiple listings with unrealistic sellers, my patience and bankroll was starting to diminish. It was at this point that I realized, there has to be a better way to improve my business.

As I look on Active Rain and other networking sites now, I realize that this turning point has only weeded out the ‘part timers’ and left the true agents and professionals to claim what is theirs. This market IS going to turn around. And when it does, you better believe I will be right there with contracts in one hand and a pen in the other.

But for now, the motorcycle does help to calm the nerves…

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Lets Face it, today's market (depending on geography) isn't exactly screaming profit, but yet there are people out there still able to put food on the table. One method of doing so in these times is by offering BPOs or Broker Price Opinions to banks looking to short sell or foreclose on a property. These BPO agents are making upwards of $50k per year on a part time level. With foreclosure rates still holding steady in a majority of the country, BPO agents are more in demand than ever.

The standard tasks a BPO agent performs are geared towards helping the banks give the property in question a fair market value price. Something us Realtors should be used to accomplishing already, just a little bit more specific paperwork involved.

The usual BPO consists of photographs of the current condition, documentation of any repairs needed to bring the property up to par, neighborhood information, and of course, your professional opinion of the properties value. This on average, can be accomplished within a 30min visit to the property.

One of the best advantages to becoming a BPO agent is the fact that most banks (with the fast pace the banks are working at :)) take so long to close on these distressed properties, that they usually need 2-4 BPOs done per property. The average BPO agent earns around $50 per BPO. Not bad for a 30 min drive by.

Just an option

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It sounds funny, but in todays market, you have to get Back To Basics... With so many options to distract you in this industry, one can lose their direction very easily. Between residential, commercial, working with REOs, becoming a BPO agent, not to mention new construction vs. working with foreclosure sales, its no wonder this industry is so tough.

The best way to starting is by doing your due diligence. Study your target market (specific community, demographic, or income level), and know your competition (other local agents, builders) and keep up with their intentions. Once you decide to narrow down your niche to a genre, as long as you stick to your guns you WILL be successful.

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