Author: ropadmin

The front page headline for Argus Leader on Tuesday September 23rd was “Tax growth beats expectations.” The article gave a rousing economic report for the City of Sioux Falls and surrounding areas. According to the Sioux Falls Finance Department, sales tax revenue for August this year increased 11.7% over the previous year; a 25% increase over expectation for the 12 month rolling average.  The four county area added 2,000 jobs in June and July, and the unemployment rate is 2.1%; one of the lowest in history.

This level of employment creates greater demand for employees; consequently, wages are rising and household income is increasing. According to a recent Wall Street Journal article, the national rate is 4% for wage increase over the last year. People are earning more, saving more, spending more, and feeling better about their lives.   

In April of this year, the total number of homes sold in The Empire for the year was down 20% from last year; although, sales have rebounded and there is a good chance we’ll end up with as many sales in 2019 as in 2018.

Mortgage rates remain low and are just under 4% for a 30 loan and around 3.5% for 15 years; and, it appears there is little chance of them rising in the near future.

This economy is equal, if not better than, the 1980’s market; which sent us on a 20 year bull market. Talk of a recession is pure nonsense. An economy driven by labor will always thrive. When people work and earn money everyone wins!

That means sales will continue at a solid pace, prices should stay flat or increase slightly, and real estate ownership will still be a good investment as well as a place to call home. A caveat to all of this may be the world of political rhetoric. Some people, hoping things to be different, may convince enough people things aren’t as good as they appear, which can develop into a high level of uncertainty and therefore affecting consumer confidence and their willingness to spend money.

The Ratchford Group continues to be optimistic, and believes a good plan for buying and selling is essential for the best outcome. We have developed a process that will help you maximize your dollars, save you valuable time, and give you peace of mind knowing you are doing the right thing at the right time.

All my best,
Tony Ratchford, Broker for KW Realty Sioux Falls, CRS, ABR, SRES, Luxury Homes Institute Member

“Before anything else, preparation is the key to success.”  Alexander Graham Bell

Andy Stanley wrote a book titled The Principle of the Path. It’s about how to get from where you are to where you want to be. Robert Schuller and Norman Vincent Peale preached many years about Positive Thinking.

I was visiting with someone the other day; things weren’t going too well for him and he asked how he might get back on track? It didn’t take long to discover his performance of bad habits was impeding progress. We spoke about destination and dreams of the future, yet his actions didn’t match what was necessary for him to reach the goal. The path was headed in the wrong direction.

This is an issue with many people, including myself. It’s seems too easy to get off track, or make a mistake of getting on the wrong path from the start. Mostly, we don’t give enough thought to what one needs to do to get where one wants to go.

Fifteen years ago I developed a Process to help clients discover greater clarity about what’s important to them about moving, plus develop a plan for them to follow. Surprisingly, it also works when something isn’t working, and there is a need for adjustment.

Coupling this Process with Andy Stanley’s simple plan of making sure one is on the right path, can offer remarkable results. Having a great attitude can help too!

Interestingly, there are many who disbelieve in this theory. Their reference points don’t allow them to accept the premise. They argue for their limitations and look for why it won’t work. Negative thought can be destructive.

There is plenty of evidence of how Positive Thinking and Belief can actually affect an outcome. Why someone would intentionally sabotage their opportunities or destroy their environment around them is anyones guess, yet they do it too often. Perhaps it’s just a matter of choice.

Winning, where everyone benefits, ought to be the goal. We begin by expecting a great outcome. The next step is to develop a list of proper habits, adjusting one’s behavior, and having exceptional clarity about the path you need to be on. Finally, monitor your direction, and you’ll ultimately reach the desired destination.

You may be wondering how this applies to real estate? There are several ways. First we need a good economy for people to have enough confidence and money to act; which means, we need our leaders to perform their duties with positive action that is helpful. Secondly, we know the Dream Home Process, along with good habits and positive attitude, will help you maximize your outcome.

Tony Ratchford, Broker for KW Realty Sioux Falls, CRS, ABR, SRES, Luxury Homes Institute Member

What does a real estate agent actually do anymore? Before 1996 real estate agents controlled most of the market data. This meant that when someone wanted to buy or sell a home, they needed to work with an agent to get the most out of their transaction. Information regarding sold homes, homes for sale, and other components were protected. Consumers had few opportunities to do their own research.

Things have changed since then. The Internet has made information more available than ever before. Buyers have access to homes for sale and are doing most of their own research; sellers can determine a range of value for their home with only an hour of research. The Internet continues to have a profound impact on the home buying and selling process as it shifts control of information out of an agent’s hand and into the consumer’s hand.

So, what is the value of an agent? Simply stated, information doesn’t always relate to wisdom.

While some agents still operate as if things haven’t changed, savvy agents are finding new ways to create value for their clients. They have become more like consultants, rather than just clerks. They know providing a list of homes for sale, or homes sold, is not enough. These agents understand the importance of helping their client discover the depth of the process, working with them to find the right answer,  giving guidance, developing a path for their dream, and watching them make wise decisions.

A great agent is someone who takes the time to fully understand their client’s current situation and comprehends the reason for their move. They are no longer just facilitating a transaction.

When selecting an agent, find someone who cares more about you than themselves. This agent’s primary concern should be to gain a full understanding of your goals and values. They ought to know how to ask the right questions without being pushy, and then listen to your answers. They are able to comprehend why you want to do what you want to do. Helping you find greater clarity is the goal.

The ability to listen and communicate effectively is directly related to an agent’s empathy for you and your situation. Their ability to relate to who you are enables them to better understand what’s best for you in the short and long term. Looking out for your best interest at all times.

During your decision-making process, take the time to examine an agent’s skill, knowledge, and access to tools needed to help deliver a better outcome.

It’s also important to know what makes a great client. The best results begin by developing a team mentality, to be knowledgeable of the data, and to be proactive with communication; working together with a focus of maximizing dollars, saving valuable time, and creating a happier experience.

Tony Ratchford, Broker for KW Realty Sioux Falls, CRS, ABR, SRES, Luxury Homes Institute Member

We hear talk around the words ‘Value Creation’ and I wonder what people think it means in relationship to either real estate ownership and/or a real estate agent? Can a real estate agent help create value when buying or selling a home?

Today, more than ever, an agent needs to deliver more for their client than the client can do for themselves. A great understanding of the market and processes, can deliver better results in maximizing your dollars, saving valuable time, and giving you peace of mind.

The internet has allowed the consumer to do much of what agents have done for years. Although, the first steps to selling or buying a house may seem simple, it is the information that one doesn’t know, or what questions to ask, that cause problems and even nightmares.

There are some things a consumer can do; for example, a seller can put their house up for sale by putting a sign in the yard, placing it on the internet, holding an open house, and pray a buyer shows up. If a buyer appears, and they want to purchase, the consumer can download a purchase agreement, fill in the blanks, and take it to the bank or title company.

Why then should the consumer hire and pay an agent a fee for this service? The simple answer is information that is easily obtained, is not always as easy to decipher as one might think. Understanding what the information means and what to do with it, is the key to maximizing the outcome.

Just because a house sold for ‘X’ dollars three months ago doesn’t mean it’s true today. What about the season of the year, motivation of the seller or buyer, economic conditions, marketing methods applied, flexibility of timing, and other homes for sale?

The true value of an agent is their ability to analyze the market data; to consul, advise, and inject reason and experience into the process. Sellers can benefit from solid information of past sales, houses for sale now, staging advice, extended marketing systems, negotiations, and the intangible skill of helping a person discover peace of mind as they move through the process.

My personal group focuses on helping our clients first find great clarity about why they are moving, help establish the right time for them to move forward based on their goals, and where and what the new home will look like once their existing house is sold. We constantly take care of details so as not to cost them the sale, money, or inconvenience.

Problems arise with every transaction. How one handles the issue requires good knowledge and resources to prevent a fallout or costly mistakes. Anyone can deliver a baby, but how many want to try? Too many complications may arise; and it’s good to have a professional by your side just in case. Now we all know delivering a baby is far more serious than selling a house, but the point remains, a professional with a process and great resources, will deliver a better outcome in the long-run.

Tony Ratchford, Broker for KW Realty Sioux Falls, CRS, ABR, SRES, Luxury Homes Institute Member

The word Perfect is absolute; no room for error and no room for excuses. ‘I want the perfect house, and I want a perfect world.’ An important question to ask; “if I don’t get all of what I want, does it interfere with my happiness?“

I suspect there never is anything ‘perfect.’ Generally speaking, a goal is a moving target and seldom is it 100% obtainable. So, what percentage of perfect is acceptable to you? Is it 90%, 80%, or 70%? When looking for a home, what features do you absolutely need, and what is flexible? When selling a home, is 95% of asking price acceptable; if not, what is?

Looking at a bigger picture, what in your life makes you happy? Do you live in the gap between perfect and what you have? Do you have a tendency to focus on the 10% that you don’t get, rather than the 90% you have?

One has to wonder if this focus on ‘what we don’t have’ is internalized, or is it the crazy world of media we live in? It seems like people complain about everything, and the rhetoric is getting higher.  When we continue to hear negative words and comments, we eventually begin to think it may be real, even when it is or isn’t. It sours our mood.

The truth is, we have talked for hundreds of years about things that don’t work or could be better. Improving our lives with comfort and finding opportunities for more happiness is only natural. Forgetting about all that is good, to only focus on the 10% that could use improvement, is foolish.

The facts are clear, economic numbers today compared to numbers over many decades, and perhaps a century, indicate we are living in the best America we have seen in a very long time. The financial world of Real Estate is driven by economics and even more by consumer confidence. When we focus on things that don’t work, or what needs improvement, we forget or ignore what’s most important to us.

One has to wonder if we have lost our gratitude? When we appreciate all that we have, and are involved with community is when we feel the human element of connection. That is when we learn the importance of real things in our lives, and studies show, a higher level of happiness.

On that note, the house you live in should be about your lifestyle and comfort; it is also about your neighbors and neighborhood. Matching home features with your lifestyle, living in the right location, and its affordability, are vital in maximizing your joy of daily living.

The average person moves seven times in their adult life; purchasing five times. The reason we move is because our desires and needs change as we walk through the stages of our lives. The Ratchford Group has a proven process to help make that path smoother and help maximize your opportunities and find greater joy with your home

Tony Ratchford. Broker, CRS, SRES, ABR, CLHMS, co-owner Keller Williams Realty Sioux Falls