Worldwide ERC’s New CEO Visits John Daugherty, Realtors

This was quite a week for John Daugherty, Realtors and our Global Relocation Services Division.  At our Sales Meeting on Tuesday, I had arranged to have none other than Peggy Smith, the new CEO for Worldwide ERC® (Employee Relocation Council) visit and present to our team.  I first had the pleasure of meeting Peggy in May when I was in Orlando, Florida for the RDC (Relocation Directors Council) Spring Event and Worldwide ERC Conference.  In her opening comments at RDC, she said that she was going to be spending her first 120 days as the new CEO for Worldwide ERC® conducting a “Listening Tour” among Worldwide ERC® members throughout the country. 

That was all I needed to hear.  As soon as I got back to Houston, I reached out to Peggy via email, congratulated her again on her new position, told her how much I had enjoyed meeting her in Orlando, and let her know that I would very much like to be included in her “Listening Tour.”  Expecting that it would take her a little while to get back to me, I was amazed when I heard back from her almost instantly.  We set up a time to visit by telephone for the following week.

During our hour-long conversation, Peggy explained to me what her idea was behind the “Listening Tour.”  She said, “The organization (Worldwide ERC®) is ready to embrace the challenges and to look and think about a different approach.  The listening tour, I think, is important to us as an input valve to help determine what our next 3-5 year strategic plan might look like.”  She said that from the “Listening Tour,” that she should start to see key themes develop that she can bring back to the ERC Board at the upcoming Global Workforce Symposium in Seattle.  Based on these themes and the input that she receives from members, she said that she will be able to bring forward specific elements that she thinks we should begin pursuing as an organization.  I think that this is a very progressive idea for Worldwide ERC® and its members.

The more she shared with me, the more intrigued I became.  Soon I realized that it wasn’t enough to speak with her on the telephone, and that I really needed to get her to Houston to speak to our Houston Relocation Team.  Again, she humbly agreed, told me when she was going to be in Texas, and we ironed out the details.

Before I knew it, the morning of August 3rd had arrived, and I picked her up from her hotel and brought her to our office.  We enjoyed breakfast and light conversation about her own relocation from Seattle to the Washington, DC area.  During her presentation to our team, she shared a few details about her recent relocation and the vast differences in the housing market.  She and her family left their custom built 4,000 square foot home in Seattle, and are now living in a 1,300 square foot apartment in Washington, DC.  She jokingly said that there wasn’t a recession in the Washington, DC area and that she was paying $3,800 per month for her 1.5 bedroom apartment.  Meanwhile, her 4,000 square foot home, which she had decided to lease rather than sell, would probably only fetch about $4,100 per month.

She asked us about the Houston real estate market, and what impact the recession had on home prices here.  John Daugherty told her how the home prices in Houston have remained fairly stable and that we have not suffered in the ways that other parts of the country have.  Peggy seemed surprised at the fact that we have not experienced a bubble here in Houston, thus we didn’t suffer the bust that was experienced elsewhere.  

In addressing our team and talking about why she had embarked on this ”Listening Tour,” she explained that the purpose is to create an input valve to help determine a strategic plan for the organization based on member suggestions, annual surveys, and conversations that she has had directly with members via telephone, email and over coffee. 

Peggy also talked about what corporations and relocation management companies seek in their real estate partners, and addressed the often uncomfortable subject of escalating referral fees.  According to Peggy, corporations and relocation management companies are looking for the following traits in their real estate partners:

• Knowledge & Perspective
• Collaboration
• Strategy
• Solutions
• Reliability
• Value/Cost-efficiency
• Performance

She also drove home the all-important fact that “there is no such thing as personal business in relocation.”  I often remind the agents at our company about this, and how employee benefits may be at risk if any part of the process is mishandled.  Even with a pre-existing relationship, it is possible to jeapardize corporate business.  The actions of one agent in representing our company, can put the whole account at risk.  It is my job, through the proper training and direction, to see to it that these risks are minimized at all times.

As a company, we have always placed great emphasis on our Global Relocation Services Division.  As the person responsible for this Division, I am extremely proud of the consistent growth in our relocation and referral business, especially during troubling economic times.  We have truly earned our place among the top real estate firms around the world, and more and more, we are becoming the number 1 choice for corporations, organizations and relocation management companies that partner with us on a regular basis to assist their relocating employees.  

Peggy’s visit to our company was an exclusive for the Houston market, as we were the only real estate company on her short agenda.  This was an important nod to our company as a major player within the global relocation industry and as a member of Worldwide ERC®.  I am always thrilled to be able to bring valuable relocation training and information to our team.

John Daugherty, Realtors started its Global Relocation Services Division in 1974.  Since that time, our company has been heavily involved in corporate relocation by assisting both domestic and international transferees in buying, selling and leasing properties in the Greater Houston area.

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Worldwide ERC

John Daugherty Realtors Attends Luxury Real Estate Conference

John A. Daugherty, Jr., president of John Daugherty, Realtors and I recently  attended the LuxuryRealEstate.com and Board of Regents 8^th Annual Spring Retreat in South Beach, Florida. The conferences provided a great deal of information and idea sharing among its members and attendees, who make up this international network of the finest residential luxury real estate brokerages in the world.  Members are proven leaders in the marketing of distinctive properties and are committed to high performance, professionalism and quality services.  John Daugherty, Realtors is the exclusive Houston member, and Daugherty serves on the Board of Regents Executive Committee. 

This was my first time attending a LuxuryRealEstate.com conference, and I must say that I really enjoyed it.  LuxuryRealEstate.com is made up of the Who’s Who in Luxury Real Estate.  The members are proven leaders in the marketing of distinctive properties and are committed to high performance, professionalism and quality services.  The Board of Regents is the governing body of LuxuryRealEstate.com.  Regents is an exclusive network of the world’s most elite luxury real estate brokers, comprised of the most legendary names in the industry. This group was developed from a need within the Luxury Real Estate Network for leadership among the best of the best.

During the Regents segment of the conference, John and I had an opportunity to participate in two separate round-table discussions with the other attendees.  John spoke about the current state of the Houston real estate market and how it has really bounced back.  John Daugherty, Realtors went over our sales goal for the month of April, with over $100 million in sales.  We also had 28 homes priced at $1 million or more go under contract in April.  (Read entire article on John Daugherty Realtors’ web site)  John also spoke about what we are doing in terms of aggressively marketing our luxury properties through the use of our on-line strategies.

Meanwhile, in my round-table group, I spoke about one of my favorite subjects:  How I am using social media sites to boost our company brand awareness by promoting our company and our relocation and referral services on my Houston Relocation Blog, on LinkedIn, on Facebook and on Twitter.

One of the most discussed topics was that of the decline of the print media in the way that we market our properties, luxury and otherwise.  Our company’s reduction in print advertising is definitely in line with what other real estate companies are doing.  We heard from many companies that have significantly reduced their print advertising, and others that have a plan for completely eliminating it altogether in the not so distant future.  There were even a couple of companies that said that they have already gone completely out of print in favor of putting that money into their web site and web marketing strategies.

I am very lucky to work at a company that so heavily supports conference and relocation event attendance.  I recognize the importance of my attendance at these conferences as they definitely provide great educational sessions and idea sharing among the attendees, and allow us to develop strong relationships with other companies in other markets, all of which have the potential to send us referrals, as well as receive referrals from us.  I always come home so energized and full of great new ideas to discuss and implement in my Relocation Department.

As for the LuxuryRealEstate.com and Regents Conference, “This was a great opportunity for us to meet with other top luxury real estate firms and openly discuss our local markets and how technology and web marketing strategies are reshaping the way that we advertise our listings and market our unique brands,” says John A. Daugherty, Jr.

Tags | Board of Regents, Houston Relocation, John Daugherty, Luxury Real Estate, LuxuryRealEstate.com, Michelle Sandlin, Realtors

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John Daugherty, Realtors Attends LeadingRE Conference in Vegas

Last week I attended the Leading Real Estate Companies of the World® Annual Conference and Luxury Portfolio Top Sales Associate Summit in Las Vegas, Nevada.  It was a very proud time for John Daugherty, Realtors, as everyone there seemed to know that there were several of us in attendance from our company.  In fact, we were eight people strong.   I was accompanied by Steve Thistle, our General Sales Manager, and six of our sales associates:  Tania Amin, Moni Bohnisch, Laramie Driscoll, Dede Fike, Julianna Lind and Judy Mousa. 

The Luxury Portfolio Top Sales Associate Summit was a gathering of the finest luxury property specialists from around the world.  The focus of the Summit program was to further enhance the presence of these elite companies in their respective luxury markets.  This was a great time for our agents to network with other top sales associates from around the world, while attending several informative sessions and gaining some insight on how other luxury firms have adapted there business models to survive and even thrive in the downturns.

Naturally, there was a lot of talk about the current state of the real estate market, particularly in areas of the country that have been much harder hit that the Houston real estate market.  Fortunately, the real estate market is a local market and not a national market, which perhaps isn’t stressed enough.  It would have been nice to share the Texas perspective on the current state of the real estate market in contrast to states like California, Nevada and Florida.  For instance, Houston Relocation business has remained strong compared to other states.

The Leading Real Estate Companies of the World® Conference was equally informative, but for me was even more valuable due to my position as Director of Global Relocation Services at John Daugherty, Realtors.  The theme of the  Conference was “Leading the Revolution,” which reflects the network’s commitment to “Leading the Revolution” in real estate as we adapt to changes in the economy, in the housing market, in technology and in client needs and preferences.  I always gravitate to the sessions involving social networking, technology, relocation best practices and business development, as these are key components to my own business model and in the way I run our Relocation Department.

I was also invited to be a panelist for one of the conference sessions, which was entitled, “Raising the Bar on Your Relocation Training Program.”  This is a very important subject to me, since I am responsible for developing and implementing our comprehensive Relocation Training and Certification Program for the agents at John Daugherty, Realtors. 

In visiting with the other panelists, speakers and conference attendees, I have come back to work today with many new ideas and best practices, all of which are of benefit to my department and my company.  This is the best part of being a member of Leading Real Estate Companies of the World®.  As a result, I have life-long friends, partners, and business coaches.  I can pick up the phone or fire off an email anytime and always expect to hear a friendly voice on the other end happy to share ideas and a little brain storming.  This has been invaluable to me, and I look forward to all that is yet to come as part of this group, whose members are the leaders in their respective real estate markets.

Tags | Houston Relocation, John Daugherty, Leading Real Estate Companies of the World, Luxury Portfolio, Michelle Sandlin, Realtors

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Socal Media
Texas

Houston Luxury Home Market Experiences Surge

I love reading great news about Houston.  And I especially love reading great news about the Houston real estate market.  HAR (Houston Association of Realtors) has just released its figures for January 2010, and it is very optimistic, particularly with regard to the luxury market.

According to HAR, single family home sales priced between $250,000 and $500,000 were up 21.6% in January, while home sales between $500,000 to the millions surged 40%.

Meanwhile, HAR reported that foreclosure property sales fell 30.1% in January compared to January a year ago.

As for the median price of a single-family home in January, that price was $144,500, which reflects an 11.9% increase from January 2009.  This also represents the ninth consecutive monthly increase in median price, as well as the highest median single family home sale reported for any January on record in Houston, Texas.  The average sales price of $194,154 also represents an increase of 18.4% from a year ago.

In an article appearing in today’s Houston Chronicle, John A. Daugherty, Jr., president and CEO of John Daugherty, Realtors says that, “there are plenty of positive signs that the luxury housing market is turning around.”  Daugherty spoke candidly with Chronicle reporter Nancy Sarnoff about the future of the luxury real estate market in Houston.

When asked when Houston’s real estate market is going to come back, Daugherty says:  “There are positive signs for the market as new home construction is on the rise and the upper end is getting stronger.  I would imagine other segments of the market will follow by the second half of this year.”

To read the entire article, please click on this link: John Daugherty Speaks on the Houston Luxury Market.

Tags | Houston Luxury Home Market

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Houston Real Estate – Legal Update

Attorney Dick Hargis of Hargis & Harpold, LLP gave a presentation at yesterday’s sales meeting at John Daugherty, Realtors to address lease purchase transactions and other legal issues currently facing many of our sales associates.  Hargis & Harpold, L.L.P. is a law firm concentrating its practice in the areas of  Houston real estate, commercial litigation, insurance defense, trade associations, business transactions, employment and subrogation. We are always very glad to have Hargis share his legal insights with us, as it always leads to a very eye-opening discussion.

 

Watch what you say in emails!

Hargis began by reminding everyone how important it is to always make sure that you watch what you say every time you hit the send button on an email.  This is excellent advice, especially given how often an email can be misinterpreted.  Whenever in doubt about how your words or tone might be interpreted, it is a good idea to save the email as a draft and go back and read it, and if needed, edit it before sending.

Lease Purchase Transactions

Hargis says, “Just say no!”  This is the best advice, he says.  A lease purchase is actually a contract for deed.  It is a transaction in which statutory rules burden the seller (or Broker) with many of the following:

• Pre-contract disclosures
• Pre-contract documents
• Annual accounting

Not only that, but non-compliance can lead to DTPA violation, contract rescission and refund of all payments.  The list of pre-contract disclosures alone can be very daunting.  Real estate agents and brokers can’t write a lease purchase; it requires the use of an attorney for drawing up the agreement.  Hargis recommends telling the seller that he or she should call a lawyer to discuss if they are considering this type of transaction.  “Under no circumstances should an agent attempt to draw up a lease purchase contract,” says Hargis.  In general, a much better option might be owner financing.

From time-to-time I run across a transferee who is interested in discussing lease purchase options with me.  I can tell you that they have no idea what this entales.  Especially in today’s market, people relocating to Houston are often looking to explore all of their options and inquiring doing a lease purchase.  Fortunately, when they are relocating to Houston through a relocation company, they are often counseled about the necessity of using an attorney and discouraged from exploring this type of transaction. 

Buyer’s Rep Agreement & Information About Brokerage Services

Why are both needed?  Hargis says that the Information About Brokerage Services Form is a good introduction and a lead in to a Buyer’s Representation Agreement.  The IABS is informational, and is important because it addresses Intermediary.  The Buyer’s Rep Agreement is a sign of some sort of loyalty between the agent and the buyer.

 Who Should Hold Open Houses?

This is always an important consideration.  According to Hargis, an agent employed assistant who has a real estate license is fine to hold an open house; however, if the assistant is unlicensed, the assistant should not be allowed to hold and open house.  As for unlicensed persons, they can hold open houses, but Hargis does not recommend it.  He says that they are not supposed to say anything, but you can never be sure whether that person will give out information or say something that he or she shouldn’t. 

What legal issues or questions do you have?  It’s very important to have reliable legal resources whenever controversial issues or questions arise.

Tags | Houston Real Estate, Houston Relocation, Legal Update

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John Daugherty, Realtors
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