Real Estate Matters

The January 2009 edition of Sarasota Realtor contains excerpts from the featured interview with me as President of SAR entitled "Where Do We Go From Here?".  The complete article and entire on-line magazine can be viewed from the Home Page of www.SarasotaAndKeys.com.  Select "News" button and click on "Sarasota Real Estate Magazine" .  The magazine also contains important statistics on real estate activity in the Sarasota area along with other very useful information.  The on-line magazine will be available on this web site monthly as a new service.

A marathon is a road race encompassing 26 miles, 385 yards - the approximate distance between Marathon and Athens in ancient Greece, where the legendary run supposedly originated in the first century A.D. The first competitive marathon foot race was held at the 1896 Olympics, and today more than 800 of the difficult races are held around the world each year.

Bill Geller, 2009 SAR President, has braved the marathon many times during his running career, which he began shortly after he quit smoking almost 30 years ago.

“I was told at the time that you should reward yourself when you’re able to beat the smoking habit, and running became my reward,” Bill noted. “It’s certainly a different kind of reward, but I really liked to run. I built up my distances and started running half marathons (13.1 miles), and people told me if I could run a half marathon, I could run a full marathon. So that’s what got me into the events.”

Bill has been a resident of Sarasota since 1980 and a Realtor® for more than 20 years. He is a Certified International Property Specialist (CIPS), holds a Transnational Referral Certification, (TRC) and is currently a Broker Associate with Suncoast International Realty.

Real estate is Bill’s other passion – the one that pays the bills. But he sees some similarities between the recreation of long distance running and the business of real estate. For one, a real estate transaction can often be a lengthy, strenuous, pain-staking process, much like navigating a hilly, winding marathon course. But at the end of the race or the deal is the reward – for both the buyer and seller, if Bill has done his job well.

The current economic crisis has Bill concerned, but hasn’t dimmed his enthusiasm for the future of local real estate.

“As we begin the new year, we are all anxious to see the results of the recent government financial programs, and of course the proposed lowering of mortgage rates to 4.5 percent (supported by the NAR),” Bill said. “We obviously are living in tough economic times, but during times like this there are always challenges coupled with opportunities. With short sales and foreclosure, activity has increased, and once these distressed properties are sold, we’ll move into the next phase of the recovery. At SAR, we’re trying to educate our members on how to navigate these difficult times, and help their clients make educated, intelligent decisions.”

Bill noted SAR has done a great job providing members with seminars and programs designed to address the issues impacting real estate today. From the many short sale seminars to the recent FHA home buying program, which even included a night session for the public, SAR has been “ahead of the curve,” and committed to helping brokers and agents succeed in the current climate.

“I’ve learned a lot myself, and the main thing I’ve discovered is that this remains a very attractive market, particularly with the lower prices on some high quality properties,” said Bill. “First-time home buyers in particular have never seen a better time to buy than right now in Sarasota. There are some wonderful programs available to help with down payments and mortgage rates.”

While the national and state economies have seen increased unemployment, stagnant credit markets and slower real estate sales, Bill noted that the local Sarasota market is once again weathering the storm well.

“We are still somewhat isolated here from the overall economy, because we are not as dependent on the local workforce for real estate sales as many other communities,” Bill explained. “Many of our buyers are investors, or retirees looking for a place to settle, or international buyers. Cash buyers are still looking for a safe investment, and real estate in the United States has always been that safe haven.”

Another 2009 priority for Bill will be to help forge greater cooperation between SAR and the other neighboring real estate associations, in order to bring more shared services through the economy of scale and staff cooperation.

“In these tough times, we can all benefit from exploring how we can share our resources for the benefit of our members,” said Bill. “I have been speaking to our neighbors to the north and south, and I hope to continue that dialogue. With tighter budgets, we need to make sure we continue to provide services that our members want and need, and maximize our efficiency.”

In addition to his extensive involvement with SAR, Bill currently serves on the Board of Directors of the Florida Association of Realtors®, and is a member of the International Operations Committee, International Forum Committee and Business Trends & Technology Forum for FAR. Bill was the 2002 International Steering Committee Chair for SAR. He is past-president and board member of the Brazil-Tampa Bay Chamber of Commerce, served as a three-term president of the Siesta Key Association and is past-president of the Rotary Club of Sarasota, Sunset.

And he’s planning to continue running marathons. After all, running is the reward!

Ray Porter, Director of Communications

Sarasota Association of Realtors