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First Up It’s THE BUZZ:
Your flight plan for your customers. Taking a page out of Alaska Airlines menu of services for long flights to Hawaii… Travelers are often left in the lurch when it comes to hospitality service on airlines, particularly on longer flights. You sit in your seat wondering when you get a drink, when you’ll be offered food, if there are any movies etc. Alaska has laid out each service in chronological order to take some of the mystery away. Are you preparing your customers for your business flight? Taking away the question of what is going to happen always makes for a smoother flight. Perhaps you should be providing your own menu of services provided in chronological order.
Steve Harney helps producers achieve their true potential. He authors a monthly informational presentation for top professionals titled, ”Keeping Current Matters” (also known as KCM), and is seen as a leading industry thought leader. Steve is often quoted in major news sources such as The U.S. News & World Report, MSN Money, TheChicago Tribune and The Los Angeles Times to name a few. He also received the great honor of being recognized as one of the 100 Most Influential Leaders in Real Estate by Inman News and was interviewed on Fox Business News.
Looking at the market changes and watching delinquencies skyrocket in the past used to be a key indicator when the market was dropping. Today, he’s watching month’s inventory as a key indicator in today’s market. Particularly if you have less than 4 months inventory, which means you do not have enough inventory in the market to satisfy the market. This is a seller’s market. When you hit 5-6 months inventory, that is a “normal” market. A normal market is the most consistent type of the market. When you have too much inventory, that’s when prices become compromised.
Remember you are no longer in the information business as agents. Consumers can typically get better information, faster than agents today. If we stay in the information business we are more like the travel agent business.
Agents and brokers need to be the experts, no longer the information resources. The market has changed.