BanCorp Realty: Orange County's Real Estate Blog : orange county real estate news

Showing posts with label orange county real estate news. Show all posts

Friday, December 26, 2014

South Orange County home prices predicted to continue to rise

We believe that there is no reason to believe that home prices will not continue to rise in 2015. BanCorp would not be surprised if the average price increase stood at 5% across the board. Present inventory might be higher than normal to flat and we don’t believe that Fannie or Freddie will ease lending standards but with annual inflation running at 2%, an additional 2 -3% increase up and beyond this is not wishful thinking as the generation “Y” market continues to enter the market.

Interest rates remain at historically low levels and they won’t remain there. If rates were to increase a single point, the corresponding monthly payment increase to the borrower is approximately 20 -25% which obviously reduces buying power and this will drag down home prices due to the fact that the buyers will be expecting the sellers to drop the asking prices to reflect the higher borrowing costs. With that being said, BanCorp believes that even a ½ % increase in rates during 2015 is highly unlikely, the Federal Reserve is too active in the market and this simply would be too dramatic of a hike and they have an excellent pulse of the market right now.

In conclusion, expect supply to outweigh demand, but this will not damper increasing home values due to low interest rates and new buyers entering the market helping to fuel home prices.

Orange County Cities and Communities BanCorp Properties Serves In:

Friday, July 25, 2014

Management Decision Making: Orange County Real Estate

For a real estate company to move from ordinary to excellent, they must possess a management team that is able to make both the easy decisions and they hard ones. If they want their company to stand out from the rest of the industry – passivity cannot be an option when it comes to decision making from the management team. If the company is going to flourish, the organization can’t realize these dreams by having a management team that is weak or timid; it requires that their leadership have a tremendous backbone. The management and leadership of one company is what separates it from the rest of the industry, and indecisive leadership can kill the dreams for a company and drive away the most talented professionals in real estate.

BannCorp Properties: Great Orange County Real Estate Decision Making

If an excellent real estate company is stuck in the old-school method because their management team can’t or won’t make the critical decision when it is called for, the organization is reduced to an average company. An Average real estate company won’t survive very long in a very competitive and crowded Orange County real estate marketplace. If management can’t make the critical decisions, basically it means that they can’t make up their minds, and people that can’t make up their minds tend to be unstable and unpredictable – this can cause ruin to a real estate company.

BanCorp Properties: Orange County Real Estate Broker - Good Decision Making

The bottom line is this: the success (or failure) of a real estate company is ultimately tied to the ability of management in making the call (the decision). There are costs and risks in decision making, and mistakes are made – the key is for leadership to minimize the mistakes. If the management team is able to make the right call on a consistent basis, the organization will flourish and their Realtors will profit personally and professionally.

Greg Steinaker is not afraid to make the big decision when it is called for..

Greg Steinaker - Managing General Partner

BanCorp Real Estate Group

Cities and Communities BanCorp Serves In

Aliso Viejo Real Estate & Aliso Viejo Homes For Sale | Costa Mesa Real Estate & Costa Mesa Homes For Sale | Coto De Caza Real Estate & Coto De Caza Homes For Sale | Dana Point Real Estate & Dana Point Homes For Sale | Irvine Real Estate & Irvine Homes For Sale | Ladera Ranch, Real Estate & Ladera Ranch Homes For Sale | Laguna Beach Real Estate & Laguna Beach Homes For Sale | Laguna Hills Real Estate & Laguna Hills Homes For Sale | Laguna Niguel Real Estate & Laguna Niguel Homes For Sale | Lake Forest, CA Real Estate & Lake Forest, CA Homes For Sale | Mission Viejo Real Estate & Mission Viejo Homes For Sale | Newport Beach Real Estate & Newport Beach Homes For Sale | Corona Del Mar Real Estate & Corona Del Mar Homes For Sale | Newport Coast Real Estate & Newport Coast Homes For Sale | Rancho Santa Margarita Real Estate & Rancho Santa Margarita Homes For Sale | Dove Canyon Real Estate & Dove Canyon Homes For Sale | | San Clemente Real Estate & San Clemente Homes For Sale | San Juan Capistrano Real Estate & San Juan Capistrano Homes For Sale

Tuesday, July 22, 2014

A real estate company can’t reach the summit unless everyone is doing their part.

For a real estate company to be truly successful in a very competitive marketplace, the management team has to be able to cast the “bigger picture” to their team-members and then make sure that they see how and what part they play in reaching the goal that the vision has set out to accomplish. The leadership of the company is pulling its team-members to reach their goals, not pushing them, a radical difference in thinking. When a company is pulling its Realtors instead of pushing them, it simply means they are always one-step ahead instead of one-step behind, leading the way and always creating new marketing ideas and introducing new clients to the organization.

BanCorp Properties: Easier and Faster Orange County Realtors

The best real estate companies understand that they can’t just walk up to their Realtors and announce arbitrary revenue goals which dishes out sales quotas for each team-member. Instead the management team talks about how important it is that the company serves a greater number of clients and not only what the company will do for that client, but what that increased income will do for the company – and better yet, what the Realtors personal income will look like. After the company has done this then they propose a revenue goal and ask each individual Realtor to carefully craft which part of that goal he or she is going to contribute.

“When the management of a real estate company sets goals by themselves they are not goals they are quotas. And no one likes quotas.”

When a real estate company is successful through all of its Realtors contributing on a regular basis, not just the top-ten or twenty percent, this is usually referred to successfully Managing By Objectives, or simply getting the team-members to set their own goals as part of the overall objective of the company – this is also referred to as Shared Goals. One of the reasons that shared goals are so important to both the Realtor and the organizations success is that Shared Goals create communication. Communication here simply means that everyone in the company is working towards making the company the best in the industry. Could you even imaging for a second a quarterback in football fumbling the ball and a big lineman not jumping on the ball, instead saying something stupid like “that isn’t my job.”? It is every Realtors job to make the company successful.

BanCorp Properties: Easier and Faster Orange County Real Estate

The bottom line is this: one of the main reasons that companies fail in America is because of selfishness. If all of the Realtors in a company are only looking out for themselves, they are by definition no longer part of team. If this happens the germ of failure has entered the organization and it has begun to spread and is likely doomed for failure. The most excellent real estate brokers understand that it takes a concerted effort by each and every real estate professional that will not only get them to the top, but will also get each of their Realtors their fullest potential, professionally and personally.

Cities and Communities BanCorp Properties Serves In:

Monday, July 21, 2014

Guiding Values makes decision making easy

As a real estate company a well-defined code of ethics makes decision making easy – it also makes it simple to answer our client’s questions with one-hundred percent accuracy and reliability. The simple principle this organization is founded upon is to ask, when making a decision or asking a question, if our response causes us to lie or hide the truth (which is a type of lying), if the answer is yes, we know what the decision is – and it is a really easy one to make. When a company is in an intense or stressful situation, even those people with the highest integrity might be tempted to hide the truth, this is why everyone at BanCorp, leaders and management included, are accountable to each other through our written Guiding Valueswhich are published on our website.

BanCorp Realty: Orange County Real Estate Purpose Driven Company

One of the senior Guiding Values that drives BanCorp REG is the Golden Rule: the Real Golden Rule “Do unto others as you would have them do unto you.” As a company we are always asking ourselves, if the tables were turned, if we were walking in the other companies or the other Realtors shoes, how would we want to be treated? As a firm we strive to operate by the Golden rule. Be thoughtful of others. With that being said, we also aren’t wimps in business, we are playing the game to win and we also believe to a certain degree in the Reverse Golden Rule. As it relates to our competition and our vendors, if we are going to do unto others as we would have them do unto us… we feel it should be a two-way street. BanCorp Realty will never repay evil with evil. However, if our best, most reliable vendor steals one of our team-members we’ll cut them off in a second.

BanCorp Properties: Guiding Values makes the decision making process easy

When a client knows they are dealing with a real estate company that follows a well-defined code of ethics and publishes its Guiding Values on their website, it makes it much easier to work with that company because they know what the company stands for upfront – before the transaction has an opportunity to begin unfolding.

Greg Steinaker: As a Purpose-Driven Leader a well-defined code of ethics makes the decision making process simple

Cities and Communities BanCorp REG serves in:

Friday, July 18, 2014

The best Orange County Realtors manage their clients with Passion.

A real estate professional cannot get their client’s the results they are seeking unless they are leading them with passion. Passion causes things to move in the marketplace and even has the ability to cause transactions to come together (or fall apart), will them to happen as it were… Passion even has the ability to cover over many mistakes in the field by the Realtor – if the errors were made with good intentions. Passion creates a force multiplier and is the polar opposite of passivity. Passivity equals apathy, or an uncaring attitude and lack of interest. Passion simply means “caring, caring deeply” and being in control, self-control and acting humble and meek. Real world definition of meek: “Power under Control.”

BanCorp Realty: Purpose Driven Orange County Real Estate Company

When a real estate professional is passionate about their career, truly cares about the well-being of each and every one of their clients, the natural by-products are; quality and excellence in service, impressed clients, and ultimately increased likelihood of higher sales. When a Realtor is passionate it changes everything: their outlook on the day, their career, and who they are serving – them self or their client. When a Realtor makes the decision to serve others instead of self, this is what a purpose-driven career looks like.

BanCorp Realty: Orange County Homes For Sale

An amazing thing happens when passion is introduced into a real estate agents daily routine. As I mentioned earlier, passion will cover over a multitude of errors. Why does this happen? If a client believes a Realtor deeply cares (they really do care) about giving them excellent service and providing them with all of the relevant information they need, they are going to be more forgiving when a mistake is made (and in real estate there are always mistakes being made). When a client knows their Realtor is passionate and their intentions are good and then a mistake is made – they will know it was an honest one, it will be corrected, “so let’s move on to the next step of the transaction” – this is human nature. It is my experience that when Realtors are passionate, their client’s will be quick to give them second or even third chances when errors or mistakes are made. However, there is little or no tolerance for mistakes when there is no passion or caring.

If you aren’t passionate about real estate and passionate about what you do on a day-to-day basis, maybe you should evaluate why you are doing it in the first place? If passion leads to quality and excellence in service, impressed clients and higher likelihood of increased sales, why would you not want to show a much greater concern about your client’s well-being and demonstrate it through the way you lead your clients – with passion?

Greg Steinaker: Purpose-Driven Leader of BanCorp Realty

Greg Steinaker – President BanCorp Properties

Cities and Communities BanCorp Serves In:

Mission Statement

BanCorp Real Estate Group provides and administers superior real estate services and product expertise. At each level we strive to be the client’s first choice. We continue to succeed treating our clients and the communities we serve as we would wish to be treated – the real golden rule.

We will continue to lead from the front the mutual trust, honest, integrity and authenticity in the delivery of our service. Our achievements are realized through our commitment to O.N.E. unified purpose driven resolve – Truth in Real Estate.