Virginia Real Estate BloggerCon

The conversation at the first ever Virginia Real Estate Bloggercon has covered myriad topics, and many have absolutely nothing to do with blogging. There is no shortage of opinions in this room. From VAR’s governance, to local association issues, to NAR’s public opinion campaign, to a ranking of REALTORS based on production and association involvement.

In the photo above (left to right) are Merv Forney, Cindy Jones and Daniel Odio.

One of the best parts of the meeting was the lightning round: A rapid-fire sharing of blogging tips. Here are a few of the tips:

• Write from your heart as well as your head.
• Keep it relevant.
• Use YouTube videos to talk about difficult to explain or hot topics.
• View your blog as a way to compile answers to frequently asked questions.
• Use pictures to introduce visual interest.

The BloggerCon has actually run over by nearly an hour at this point, and I don’t see it ending anytime soon. We might have to let these guys know that there’s a reception starting soon. Still in the room are Tony Arko, Danilo Bogdanovic, Scott Rogers, Jim Duncan as well as VAR staff Amanda Arwood and Ben Martin.

And as you can see, I’m drinking the “use pictures” Kool Aid in this post. Left to right are Daniel Odio, Ben Martin Danilo Bogdanovic, Tony Arko, Frank Llosa (in foreground), and Merv Forney.

Liveblogging the Policy Board interviews

While I’m missing the BloggerCon …

I’m not going to give a run-down of every candidate, rather an overview of how the Policy Board interviews are going.

First, What’s the Policy Board?

To get an idea of what the Policy Board does, take a peek at some of the minutes from their meetings. Hint: they make a lot of decisions that impact everyday Realtors’ business.

Each candidate has the opportunity to answer 5 questions.

1. In terms of your Realtor Association volunteer experience, what accomplicsment are you most proud of, and why?
2. Please describe what make an effective Policy Board member.
3. There are several running for 9 seats, 4 won’t be elected. What makes you a better choice to be a PB member than the other candidates?
4. Describe on area where VAR should do a better job or where they ought to focus more and how you think it should be addressed.
5. Policy Board members represent all 39,500 VAR members; what should a PB member’s relationship be with his or her local association?

Interestingly, graduates of the Virginia Leadership Academy are very well represented.

These interviews are open to all VAR members … stop on by.

Hallway Buzz III

Most of the hallway buzz today is from all the suite parties from the previous night. As an investigative blogger, I felt it was my duty to research these parties and interview many of the attendees. Unfortunately, none of the revelers would agree to go on record, so evidently, what goes on in Williamsburg is ancient history.

The other hallway buzz is from the general session this morning. Pat Jensen was installed as the new president of VAR and outgoing President, Melanie Thompson revealed some rather humorous stuff about VAR CEO Scott Brunner. I may have mixed up a few details, but it was something about him shopping for a dress and then failing to drive fast enough to get away from the cops.

The speaker this morning had a powerful message that can be summed up by saying – it ain’t about sales, it is about service. He shared the stat that nearly 3/4 of a REALTOR’s client use another REALTOR next time. No repeat customers demonstrates a lack of remarkable service.

Comment & Win

Remember, leave a comment on the VAR Convention & Expo 2007 blog today or tomorrow and you’ll be entered into a contest to win one of two $100 gift certificates to Virginia-based consumer electronics superstore, Circuit City. The more you comment, the more likely you are to win!

RPAC Gave Away a Trip Last Night (and the expo hall was abuzz)

RPAC raised around $13,000 last night in its trip giveaway…a huge feat for 2 hours worth of fundraising. Thank you to all of you who invested in RPAC throughout the year and last night.

There was a flurry of activity for those two hours. Around 7 p.m., 2007 RPAC Fundraising Chair (and President-elect) Pat Jensen picked the winning name. Now, mind you, the winner was someone who is truly a RPAC cheerleader. She had already been a Sterling R for 2007, gave more last night and persuaded her fellow REALTORS to invest (all throughout the year, not just for this event). If you see KATHY NUNNALLY around, please thank her for her RPAC support and congratulate her on her win. She says she’s going to London…

Live blogging Market Trends & Forecasts session with Lawrence Yun

• Emphasizes his department’s reliance on empirical data to make forecasts, not his “gut feelings”
• US Home Price Growth – unusual acceleration in prices (up to 12% annual increase in 2005), followed by a decline in the percentage increase — a decrease in average home prices is forecast for 2007.
• When you hear about a major correction in the housing market, it’s about the volume of sales/transactions, not the average sales price.
• Investors don’t care if the stock market has fewer shares trading hands in a day, neither do they have need to be concerned about the volume of home sales transactions.
• NAR is projecting an annual income for REALTORS to be less than $47,700, lower than 2006’s results.
• In the past 7 years, home prices have accelerated out of proportion with consumer income.
• However, mortgage rates low, which makes mortgage payment manageable. The bursting of “the bubble” is unlikely.
• Some markets should expect a price correction. DC metro area most likely in the state, but Yun does not predict a bursting of the bubble. Even says that Northern Virginia could be undervalued.
• Weakness of consumer confidence is the cause of lower sales volume.
• Renters are on the rise. Vacancy rates are very low. Rents are on the rise.
• Subprime loan implosion: Subprime is practically shut down. Subprimes are 9% of the national mortgage mix, but account for 50% of foreclosures. Investors are not getting a return on their investment.
• No real change in mortgage delinquencies for prime borrowers.
• Jumbo loan rates are high. Holding down sales of more expensive homes.
• FHA loans would be a preferable option to subprime loans. FHA has capacity to add many more loans.
• Foreclosure rates declining in two neighboring states: North Carolina, Tennessee.
• Job growth occurring in all major metro areas in Virginia. This is a positive sign for the housing industry. Wages are rising.
• The economy is growing. Corporate profits are high. There is no recession. Exports are on the rise. Prospects for the US economy is bright.
• Consumer spending is down a little. Oil prices are high. This is one worry spot.
• Yun asserts there is a huge pent up demand for home purchases because low consumer confidence has caused/is causing consumers to hold off on buying a home.

The Standard Blogging Question

One of the questions that always seems to come up when someone asks about blogging is “how much time does it take?“  The answer is as varied as the blogs that you see.  There are some bloggers who spend hours a day writing posts and others who can put something together in just minutes.   Most bloggers aren’t writing perfect journalistic articles.  We are posting about a question we hear from buyer or sellers, a response to a news article, information about a neighborhood or something that we care about.  One of the side benefits of a blog is the community that you meet on line and the new things you learn from other Realtors.    Last week I had lunch with 3 other bloggers-one from DC, one from MD and another VA blogger.  We had met on-line through our Active Rain blogs and found that we had a lot in common.  We decided to meet in person and it was a great exchange of information and ideas.  These are people I most likely would not have met if it hadn’t been for my participation in the blogging community.  We could all go on about other business benefits as well but just stick your toes in the water.  Don’t worry about perfect once you start you will find your voice and you can always e-mail those of us who have been at it for awhile to help answer your questions.

OK great…one more acronym! What is a “VLA” and is it really all that?!?!?

OK, so to put into words my experience with the Virginia Leadership Academy this past year is almost impossible. That’s quite a statement from me, as my fellow classmates will tell you! I am rarely without words, but tonight was an exception. I am member and soon to be graduate of the 2007 Leadership Academy. Tonight my class got together and went to a great little culinary treat in Williamsburg called “A Chef’s Kitchen”. It was great experience and one that I would encourage everyone to go to. You can get more information here: A Chef’s Kitchen. It’s after midnight and I am exhausted, but I gotta tell you about this!

During the course of the meal many of the classmates commented on how quite I was. I gave them my typical song and dance, joking around – but honestly…. I was somewhat saddened at the thought that my AMAZING year with these incredible and outstanding individuals was ending this week. It sounds so clichés to say what an indescribable and life altering experience VLA was for me. Last year at this time I was excited about the prospect of attending the four retreats, but had no comprehension of what it would really do for me. Still, after the end of the year, I have no idea why I was chosen for this important and honored opportunity to grow and learn – but I am eternally appreciative of the individuals who allowed me the chance to get to know them and to learn from them. Because I don’t wish to ruin it for everyone else, I will not tell you all the things that we did, but I will say that the “hype” is not hype. It is the truth….it is amazing, it is important, it is a life changing experience and it is humbling to know that I was part of this project.

I know that I will not miss the other 18 individuals that I have become a family to, as we’ll see each other regularly and talk as often as we have. But, it’s still a little solomn. To them I say thank you, as there aren’t any other words to use. It was a great adventure and I couldn’t have imagined enjoying it with a finer group.

To everyone else reading this blog – I am not one of these people who over inflate or build up something for the sake of doing so. You should strive to be part of a Virginia Leadership Academy class. Even if you don’t have ambitions to be VAR president one day, the information and experience you’ll have will help you in all other aspects of your life. If you have any ambition to grow more in your role as REALTOR®, a leader or just in general, I strongly encourage you to find someone with the VLA or “Leadership Academy” 2005, 2006 or 2007 ribbon on their name tag and ask them about the Academy.

To the class of 2008 – I envy you the year that you are going to have. I’d do it again in a heartbeat!

Matthew Rathbun, VLA 2007 Matthew@Century21.com

Partial list of new blogs set up at VAR Convention & Expo 2007

To the extent possible, I’m trying to list all the new blogs that have been set up at the Social Media Lab. If I’ve missed yours, please leave a comment with your name and blog address. I’ll add yours ASAP.

• Kimberly Neff (RE/MAX Premier)
• Charles McDonald (Real Estate III)
• Inez Toney (Berry-Elliott,Inc.)
• Flo Chittenden (Chittenden & Associates, Inc)
• Irene Lemons (Lemons Landing)
• Trang Diamond (Long and Foster)
• Angie Nishnick (William E Wood & Associates)
• Amit Sharma (AXS USA LLC)
• Melinda White (YES Realty)
• Bill Kristan (Commercial Div, Long & Foster)
• Betty Lou Charnock (Coldwell Banker Realty)
• Joshua Stearns (Weichert, Realtors)
• Sheila Koski (Barnett Real Estate)
• Alan Jarvie (Weichert)
• Bryan Penman (CENTURY 21 TEAM Real Estate)
• Bob Scherbarth, Associate Broker (Dare to Compare Team of Samson Realty, LLC)
• Donny & Meredith Samson (Samson Realty)
• Adam Gallegos (RE/MAX Allegiance)
• Kim Ebel (Re/Max Olympic Realty)

You need it? They got it!

After touring the expo hall today, I was struck by the diversity of the products and services that are represented. This is a great opportunity to catch up with vendors you’ve had relationships with and to meet new contacts. There are colorful displays, some fun takes on the market theme (umbrellas, popcorn, caramel apples, anyone?) and a lot of smiling faces. If you know anyone in the Williamsburg area that would benefit from visiting the expo hall, you can print this coupon and bring them for free! This is for Wednesday, October 3 from 8:00 am to 12:00 pm. A fantastic opportunity for office managers, personal assistants and ogents who might not otherwise attend. See you at the reception, 5:30-7:30 in the Expo Hall!