With a Voice Comes Responsibility
I recently read a post over at Active Rain which at first appeared to be a positive story on the real estate market. I was excited and was prepared to link to the story. When I actually read the post I was dissapointed that the writer posted several reasons why the market is tanking. I cannot believe this person is a Mortgage salesman.
Why in the world would someone who sells a "widget", tell the world that "widgets" are becoming less and less of valuable?
Thought Leadership
Let's jump back to Sales 101 shall we? Belief in what you sell is job number one if you are going to be successful at selling. Additionally, as bloggers we have the unique ability, may I even say responsibility to "create the market".
First of all what is a thought leader?
Elise Bauer defines thought leadership and writes,
“What differentiates a thought leader from any other knowledgeable company [or individual] is the recognition from the outside world that the company deeply understands its business, the needs of its customers, and the broader marketplace in which it operates.” She continues, “Trust is built on reputation and reputation is generally NOT built on advertising or looking smart.”
Wikipedia calls it a buzzword or article of jargon used to describe a person who is recognized among his or her peers for innovative ideas and demonstrates the confidence to promote those ideas.
To understand how a thought leader matters is to understand that a small business blogger comes from a place of authority. Not only is this necessary to be a thought leader but it is necessary as a small business blogger.
When we come from Authority, our readers look to us for direction. If your readers are consumers, and the market is receding. Then it is receding from a lack of confidence in the market. Econ 101 right?
Another definition. This one from Tony Robbins right after 9/11. "A leader sees hope, when everything looks gloomy".
So a thought leader shows the readership why it is a terrific time to by. Either directly, or better yet he or she proves it thru opinions and facts. Reframing the data to illustrate why the future is Rosy.
Perception is Your Reality
It is really easy to buy into the gloom factor. When in fact, I guarantee you someone, an agent or broker is making bucks in your market. The same buyers that did not buy in 1993, lost out on the biggest run up of real estate ever. Many came across ineffectual agents that FAILED to sell them a house. Shame on those agents. My guess is that many of them believed the doom more than they believed in their product.
The War For Mind
The buyers will believe in the leaders that are the most believable. Currently that is all media. The media was your best friend during the run up, Today, they are not so friendly. However, the popular media is not as influential as a good local blog. Those readers are all you need to get your point across.
The Blog is Mightier Than The Sword
I challenge you to use your blog to grab onto your authority and to demonstrate your Thought Leadership. It is a battle for your consumers mind and you have the tools and the power to do so. If you believe in your product, and you believe in yourself.
The bad news is easy to find. Bottom line unless lenders back off of increases in the fall, there will be much new inventory for you to sell. Depending on your perspective that could be a good or bad thing.
Not to sound New Agey, but what we focus on we tend to get. So here is some good news:
- New-home sales turned up and factory orders soared in July, suggesting the economy was on stable footing before a credit crunch took a turn for the worse.The Commerce Department reported Friday that sales of new homes rose 2.8 percent to a seasonally adjusted annual rate of 870,000 units. The increase came after a 4 percent drop in June.
- Mortgage Rates Drop to Three-Month Lows
Freddie Mac reported that 30-year fixed home loans moved down this week to 6.52 percent, from 6.62 percent a week ago. That's the lowest level in three months. Meanwhile, interest rates on 15-year fixed mortgages dropped to 6.18 percent from last week's average of 6.3 percent. - Fed Cuts Discount Rate, Promises More
In an effort to stabilize financial markets, the Federal Reserve last Friday cut the discount rate that it charges to make direct loans to banks from 6.25 percent to 5.75 percent. “In short, the latest data suggests improved business opportunities for commercial real estate practitioners in the months ahead,” an NAR rep said. - Net absorption in the office and industrial sectors in the fourth quarter of 2007 is expected to be 30 million to 40 million square feet, with about $365 billion to $375 billion in new completed commercial construction activity. That is compared to $343 billion of new construction reported in the second quarter of this year. The rise in the commercial leading indicator also implies that commercial real estate practitioners could expect leasing and sales activity in the fourth quarter of this year to be about 1.1 percent higher than the fourth quarter of 2006.
- Help Wanted Ads Go Unanswered in West-unemployment rate makes it hard to find good help.
It was not that hard to find this news. And for everyone of the above bullet points,you and I can both find a counter point. As well as equally bad news. But as our Mortgage Author friend at Active Rain does not seem to get, no one gets paid for bad news except your local paper.
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