Scott L. Gibson's Real Story on Real Estate

Things are looking up for Pacific Palisades, Santa Monica, Brentwood real estate at Gibson International

We are coming to a close of the best month in Gibson Internationals' history. We closed two 4m dollar deals in Pacific Palisades and the Summit in Beverly Hills. We had our best sales month with over 38 transactions and our best listing month of over 40 with multimillion dollar listings in Brentwood, Westwood, Santa Monica, Pacific Palisades, and Marina Del Rey. Additionally, we listed homes in Venice, Mar Vista, Beverly Hills, West Los Angeles, Little Holmby, Studio City, and Encino. Our agents are working hard and staying focused, which is what you have to do in this market, you cannot let down for a minute even if you think it's getting better, it's not getting easier. Open houses are important with attendance as high as 100 at some of our homes.  

Real estate in Brentwood, Santa Monica, Pacific Palisades for Gibson International

TO MY AGENTS Monday Morning Starter

Hi Everyone!

 

Well, we seem to be off to a lot busier start than we ended the year!  That's great news . We will know soon enough if the activity will hold, so keep working as if there is no tomorrow. The inauguration was today and more TARP funds will be pumped into the system.  As I said, look for the small positive signs, like the corporate bond market starting to attract money.  Don't get me wrong, it will be a little while before we can turn on the TV and not hear the latest down size or negative about the house market.  However, as I've said before, every long journey begins with the first step.  We have to continue to show leadership with our clients and our fellow agents in working through the challenges of the day.  I'm confident that you are all up to the challenge.

 

Speaking of which, before you begin any long journey you have to have a road map. For life we call that road map your GOALS.  Remember that first feeling or reaction you had when I asked you all how you would

feel if I or Pat did not have goals?  Or a business plan on how we wanted to achieve those goals?  Scarrry!!  Floating through life works for some like ski lift operators (wish I was there now).  Pat and I are serious about your success and the success of this company-they are one in the same.  Your goals need to be specific, have a time frame within which you will achieve them, be measurable, be your own goals not someone else’s, AND THEY NEED TO BE IN WRITING!!!

 

There are seven areas of goals that you can focus in on: Career, Financial, Physical, Intellectual, Family, Social, and Spiritual.

 

In the next few weeks Pat and I will be getting with all of you to discuss your goals.  You can share anything you want with us.  We certainly would like to help you with your career and financial goals.

 

Have a great week! Wouldn't it be great to see everyone’s name this month on the sales board?

 

 

Scott

 

Brentwood, Pacific Palisades, Santa Monica , Beverly Hills real estate 2009

Hi All! (to all of our Gibson agents)
 
First I want to thank you for my birthday cake and all of your birthday wishes. What a great way to start the year!
 
Secondly, I wanted to recap our discussion at last week’s meeting. Currently we have a tight credit environment exasperated by a lack of confidence about the future and our leadership. Certainly there is no better example of how people are feeling than the fact that the US Government is refinancing it's debt by paying ZERO percent interest for three month treasury bills and a paltry 2.37% for 10 year notes. What rational person would put their money someplace for 10 years at that rate if they were not totally without confidence in the future? The point is that there is a tremendous amount of cash on the sidelines waiting for a positive direction to develop.
 
Here are some signs that you can watch for that indicate we are turning around:
-An improvement in the consumer confidence index. Right now it is at around a 50 year low. It should not take much to start to improve the index and out of all of the "signs" this one might be the most important. The new stimulus package may be the first boost, then the inauguration.
-A steady and consistent stock market. It does not have to rise a lot, just be consistent. Watch to see if it can stay above the 8800 level for an extended period of time.
-An increase in mergers and acquisitions; increased offers of new credit cards to you in the mail; improvement in the jumbo loan market; any signs of a loosening in the tight credit environment we are in now
-A decrease month over month in foreclosures especially within LA
County (the LA Business Journal is a great source for county stats)
-An increase in resale residential unit sales month over month then year over year
-A decrease in inventory; sales outpacing new listings coming on
-A decline in price reductions
-Happy real estate agents
 
Focus will be everything for you this year. Set your goals and create your vision for where you want to be a year from now; five years from now. Don't settle for less than you want, but be prepared to get there step by step. Be ready/show up everyday for any opportunities that come your way.  You will have some difficult days, but the goal is to have many more good days than difficult. Be good to yourself, no negative self talk. Take good care of yourself physically so that you can stay up to the challenge and take advantage of opportunities that will come your way. Put fun into your life where ever possible, set aside some time to refresh and renew. Realize that you can control your destiny by how you approach your day.
 
Pat and I are focused on you and your success. We know that with the right people we can win any game, overcome any challenge. We have the right people! We are very excited about 2009. There will be challenges and difficulties, but we can each individually overcome them together.
 
Happy New Year!

Scott

Brentwood, Santa Monica, Pacific Palisades real estate and the crisis of confidence

We have met the enemy and they are us! As you listen and watch the news, all anyone talks about is how afraid they are of what is happening to our economy and how this will affect them. Certainly valid concerns, but the more we all start to pull back, play it safe, make sure that we don't make any bad steps or take any big chances, the worse we make the overall situation collectively.

I just heard that the savings rate in the US just went from negative 3% about 6 months ago to plus 8% today. talk about circling the wagons. Everyone and everything is crippled by fear. What's the answer, LEADERSHIP! We have no leadership from our government and you have to start wondering if there is any leadership in the private sector when you watch the leaders of the big 3 auto companies fly into DC to ask for 25B on their private jets and then cannot even tell you how they are going to spend this money. Amazing!

I do know that if we wait for others to lead us that don't want to lead or are incapable of leadership things will only get worse. Its time for all of us to be leaders in our own right. Take action, don't let things happen to you, make good things happen for you. Get up and go at your world with vigor and a positive attitude. Tune out the negatively and know that while you can't control a lot of things, there is a lot you can do to help yourself and those important to you.

In our business of real estate, the ground zero of the negativity, there are many signs of life. Unit sales are up in many areas even though prices are still trending down, a vast majority of these homes are being purchased by owner occupants. Most important is taking a leadership position with your agents as the office manager and with your clients as a sales professional. You need to help and guide people and most of all you need courage to move forward and not look back. With such a barrage of bad news, is it any wonder that people are fearful. it is our job to guide people towards their goals. Those companies, agents and managers that step up to the task and keep working, will be in the best position to benefit when things get better, and they will get better. People need homes for shelter and to raise their families.

Brentwood, Pacific Palisades, Santa Monica-Real Estate at its very best!!

To say that our westside real estate market has been influenced by the significant recent financial "events" which include tightening credit criteria, liquidity constraints, and discouraging national headlines relative to residential real estate has created buyer uncertainty, would be an understatement. The " confidence crisis" has permeated the minds of even the most wealthy buyers and sellers.

The cautious buyers of westside real estate and Los Angeles real estate in general are concerned about the local and national economy; the stability of their jobs; the value and safety of their investment; and how to protect their real estate investments over the next year. Short term thinking and a general hysteria has become common place.

Let me say this, WE ARE NOT in a depression in Los Angeles or anywhere else! During the depression that news likes to refer to, 50% of the homes in the US went into foreclosure and 25% of the nation was unemployed! Compare that to today where TWO and ONE HALF percent (2.5%) of the nation's homes are in foreclosure and unemployment is about 7%. While these numbers are indicating hard times, it is important to recognize that this is the down part of a cycle, but one that we will get through.

Those that are astute will see this as an opportunity that only comes once or maybe twice in a lifetime to buy real estate that will continue to increase in value as it has through history. We are making a new high low, ready to move up as the economy improves. As Franklin D. Roosevelt said:

"REAL ESTATE CANNOT BE LOST OR STOLEN, NOR CAN IT BE CARRIED AWAY. PURCHASED WITH COMMON SENSE, PAID FOR IN FULL, AND MANAGED WITH REASONABLE CARE, IT IS ABOUT THE SAFEST INVESTMENT IN THE WORLD."

BRENTWOOD/WESTSIDE real estate

Does anyone remember 1991-1993? You could reduce a house by 20% and no one cared. Most of the inventory were foreclosures There were no showings, no offers, no deals being done. Offices were like ghost towns.

That market makes todays market look like it's on fire. There are lots of people still looking to buy. People come out for open houses, offers are being made, homes are selling and there are very few foreclosures compared to the general market.The uncertainty of the financial system and the economy in general has created hesitation, but there is demand that I believe is building up. Things will get better for those agents that stay with it and stay positive. Don't listen to CNBC or read the LA Times or associate with anyone that just complains how bad it is. Stay consistent in your actions and continue to try to improve yourself as a professional and take care of yourself personally by a good diet and exercise.

Continued agent survival thoughts

I can tell you that this market is going to get more challenging and will last well into 2008 and perhaps into 2009. Agents must put more of themselves out to the client. A client should never have to ask for a marketing plan when they list their home. A client should never have to call an agent to find out what's happening with their home and in their neighborhood. A client should not have to look for their marketing each week, the agent should be providing that information as a matter of course. An agent should be personally showing the home they are representing whenever they are able to. A client should be given a market evaluation before they make an offer. An agent should be presenting their offers personally to the seller when that opportunity is available. In those presentations, the agent should be able to talk about their client, neighborhood, and the property. Agents need to cooperate with each other, fully recognizing now more than ever everyone needs to work together to help our clients achieve their goals.

Attitude is everything for people in the real estgate business now. I know everyone says it, but few really are watching what they say and do and the messages those actions send to their fellow agents and their clients. I would check out www.acomplaintfreeworld.org for one way to make sure your approach to life and the world around stays positive and forward looking.

Why are you buying and selling your house backwards?

Buying a home is the only "process' where you are buying a major asset without knowing what you bought before you agree to a price. On the other hand, it is the only major asset that someone sells without knowing exactly what they are selling (condition) and what the costs of that sale may be.

Home sellers should enlist the aid of their real estate agent to do all of the necessary inspections needed to sell a home prior to putting it on the market. Those "inspections" include a home inspection, termite inspection, any special area conditions, and a preliminary title report. It would also be good to have a certified appraisal done on the house to go with your agents market analysis. Of course this may incur additional costs up front for the home seller, however the information gathered may save the seller money as they have a better idea of what it will take to sell the property.

What does the culture of an office and its company mean to your success as an agent?

This is, after all, a "people business" first and foremost. So, what motivates you?

Because real estate is a sales business, people must be motivated and energized to keep up their prospecting. Creating a positive attitude is everything. I don’t mean sugar coating things, but staying positive and looking for the opportunities in the marketplace.

Personalize everything you can - hand-written notes and cards, getting to know the names of family members, actually communicating personally in some form every day - keeps people focused and makes them feel important. Small outings and get togethers do not have to be expensive, but are worth their weight in gold in making people feel part of something special.

Can I survive as an agent in this market?

How can you adjust and adapt to continue on as the greatest long-term bull market in real-estate history comes to an end?

The first thing you need to do is mentally set yourself up that you need to survive. As the market contracts and sales continue to slow for the next year, more and more real estate companies and agents will be leaving the business. If you can “out last ‘em,” you will be in position to take advantage of the next bull market in real estate ... and there will be one.

You need to adjust your personal lifestyle, curtail spending, and put off any major expenses you were about to commit to. That includes your professional life.

Choose the most effective marketing vehicles. You don’t have to be in them all. Stay away from new publications or magazines - these will be the first to “die off” even if they offer you a fantastic deal or position.

Only work with motivated people: real buyers and sellers. Because you cannot afford to waste your time with people that are not ready to buy today, ask them up front if they are prepared to act immediately if the right home or buyer comes along. Be frank with your sellers: tell them they have to price their homes at least 5% below the last comp to be competitive and have a chance to sell before the next wave of homes come on at lower and lower prices.