Residential Real Estate
You"ve been dreaming about getting your kitchen remodel project under way for months - the nice new countertops, the beautiful cabinets, the perfect floor, and the chic appliances. But have you thought about how you"re going to live - or eat - while the project is under construction? You should.
Gasoline is putting the brakes on the choices you thought you had about where to live.
Have you opened your insurance premium notice lately? No? Afraid to? Homeowner’s insurance policies have skyrocketed. Policies are being canceled, premiums increase and renewals are being denied. And this is for people with zero claims and good credit.
Have you ever wondered why some places feel good? Or have you noticed how other places just don"t feel right and you are relieved to exit? There could be several reasons.
As thousands of Colorado residents evacuated their homes last week in the
The long-predicted cooling-off of home price appreciation is underway,but there are no signs of a meltdown, according to the Office of Federal Housing Enterprise Oversight (OFHEO), the only agency that tracks the actual market valuation movements of millions of American homes.
For many Americans, the home office has become a necessity.
With Memorial Day just barely behind us and June just around the corner,
Before you get your britches in a wad about indoor mold and the detrimental health affects you may face with this latest invasion, let me add to your anxiety – or at least your list of things to do around the house.
Your offer has been accepted and, like 77 percent of American homebuyers, you"ve heeded your agent"s advice to hire a professional home inspector to examine the home you hope to purchase. But once the inspector has done the job and issued a report, what"s your job?
Federal banking and tax officials are warning consumers and lenders about a multi-state gang of slick identity thieves out to steal personal financial information to gain access to large chunks of your cash.
When a client calls to report that his underground oil tank has leaked, I tell him to promptly make two phone calls. First, call the State or local Environmental Spill Hot Line. And second, call his homeowners insurance policy claim office. Often, homeowners policies will pay for leaking tank and other home related environmental claims. Other policies, including commercial policies, sometimes pay these claims as well.
If you"ve researched or gone through the process of getting a home loan, you
Question: My husband and I have recently retired, and are supplementing our income by giving music lessons in our home. Recently, the Board of Directors of our condominium association has advised us that our legal documents specifically state that our unit can only be used for residential purposes and that no business of any kind is permitted. However, we have confirmed that local law permits us to obtain a home-office permit and that we are not in violation of any laws. We do not teach any bands, and do not have concerts in our house. We only teach children -- ages 7-15 -- piano lessons. Does the association have the right to restrict our teaching?
A trade group of security door manufacturers is reiterating a U.S. Consumer Product Safety Commission (CPSC) advisory urging property owners to upgrade outdated automatic security gate systems.
The current market appears to meet the demand for all forms of housing for aging Americans -- assisted living, skilled nursing, congregate care and continuing care facilities. But several reports suggest that expected growth spurts could quickly leave the market far short of the housing it will need.
Do you have valuable papers?
The blackouts and brown-outs in California during the last year appear to have been a wake-up call for the nation.
A significant portion of contractors" business comes from repairs that could have been prevented. Financially speaking, the earlier a homeowner spots a problem, the better. Early detection often results in less-expensive repairs.
You can worry about everything, if you want to. For example, paranoid people should not step foot outdoors. There are so many reasons to be fearful -- if you are inclined to be fearful. If cellular phone antennas won"t get you, then high power electric lines may do so. And, we haven"t even mentioned ultra violet radiation from the sun.
The New Year is a good time to take stock of all kinds of things we tend to put off --our health, our relationships, our spending habits. Whatever needs tweaking seems to get its best start just after that glittering ball drops in Times Square, depending on the time zone in which you live.
White carpet can be beautiful, but it"s an accident waiting to happen. It makes no difference whatsoever whether you have children or pets. There seems to be something - something magnetic, perhaps - in white and other similarly light-colored shades of carpeting that attracts spills, dirt and other stains. You can pride yourself on being careful, but rest assured, before long, you"ll discover dirty footprints, paw prints and various other accidents on your brand new carpeting.
You"re confused. You"ve decided to add on a master bedroom suite and expand your garage. The lender says it would be best financially to use an equity line of credit to make the improvements and refinance later. But wouldn"t you be duplicating your borrowing costs?
Randall Weiss, Tax Partner in the National Tax Office of Deloitte & Touche and the lead author of the study, said, "The economy as a whole, as well as building owners, would benefit from an improvement in the depreciation system for structures. An improved depreciation system would remove disincentives facing individuals and businesses investing in real estate. The ability to claim deductions that more accurately reflect the economics of holding property would make real estate investments much more viable as investors consider their options."
The prospect of a newly remodeled home, while certainly tempting, often
The next time you go to your mailbox, you may be in for an unpleasant surprise. This is the season of property tax assessments, and your property taxes may have been reassessed at a higher rate. First will come a polite notice of assessment, followed closely by your new tax bill. Depending on home sales in your area and how badly your tax assessor is motivated to collect higher taxes, your property taxes could be raised significantly.
Buying furniture these days can be a truly perplexing experience for the novice shopper. The last generation of homeowners had it easy. When they visited furniture stores, they could be relatively certain they"d find wood furniture -- sturdy wood furniture, that is. Solid construction was the top-most priority of manufacturers. Pieces were built to last, and last they did -- which is why they"re sitting in your home now. That chest of drawers or end table may not capture your decorative preferences, but its quality construction and solid wood has allowed it to be owned by multiple generations and withstand considerable abuse.
Following a marked drop in oil prices yesterday (it dropped $5 a barrel), stocks surged. In currency trading, the dollar rose versus the euro and the yen. Gas prices dropped on a national average as well. No one wants to jump the gun on spreading the good news, but could this healthy market day be a sign of happier market times to come?
Painting your home is a formidable task. It requires patience, attention to
It"s every homeowner"s worst nightmare: You arrive home to discover you"ve been burglarized. Your drawers have been ransacked, and your belongings are scattered about the floor. Your most prized possessions are missing, somewhere between your home and the nearest pawn shop. You feel violated in every sense of the term, and your family"s sense of security will never be regained. Although it"s much, much easier said than done, you do need to make sure that you go through a few necessary safety procedures should this ever happen to you and your family. If you are indeed ever burglarized, it"s likely that your sense of shock will interfere with your ability to make clear decisions. So you should make a plan now and make sure all of your fellow family members are aware of it.
You can save up to $5,000 on the cost of a new roof.
You"ve taken the plunge ... you"ve decided to build the home of your
Homeownership has often been referred to as the American Dream. And for
When you are interviewing REALTORS® to market your home, you"ll be
You"ve resigned yourself to living with your original cabinetry in your
Someone once said: "As far as houses and termites go, there are only three types of residences: those that have had termites; those that now have termites; and those that are going to have termites." While the source of this quote is, most likely, an exterminator (who probably said it with a smile upon his face), the fact remains that scores of termite colonies may have invaded, or may be about to invade, your home!
Lead has been in American Paints Since the 1900s
According to U.S. Government statistical abstracts, nearly 80 percent of all homes purchased each year are existing homes, most of which require various degrees of renovation and remodeling. Unfortunately, not everyone is qualified or reputable to perform the work.
Real estate consumers are increasingly choosing environmentally friendly products and corresponding service providers. Residential and commercial builders, remodeling companies and design professionals who accept this paradigm and adapt unique green building products and eco-friendly innovations will keep ahead of the competition in a cost-effective manner.
It"s cold outside, so you have all the windows shut tight. Along with other energy-efficient measures that you"ve taken, you should be all snug as a bug in a rug for the winter. But by keeping the cold air out so effectively, you could be adversely affecting the quality of your indoor air, trapping pollutants that could make you and your family potentially ill.
Your dream can come true. If you loved Anne of Green Gables and other
Canadians can now make one application to borrow up to 75 percent of the
"Visualize your success" is something we hear a lot of these days. However, we don"t always know how to make our visualizations powerful enough so that they become a reality. This article gives you powerful tips to do that.
Here"s a common question: "Denise, do I need a website?" DEFINITELY!
You"re experienced. You"re good at what you do. You know real estate. You"re an expert.
Having been a business coach for more that 10 years, I often hear my clients say things like, "Why does this have to be a Struggle?" or "I"m feeling desperate, I need more clients." They try the right marketing approaches, they manage their time and it looks like they are doing everything they can. However most business owners are missing the key ingredient: The Law of Attraction.
Over the years, I"ve had the opportunity -- sometimes painful -- of seeing many different agents" marketing campaigns. I"ve seen photocopies of letters that looked like they were typewritten during the Lincoln administration. I"ve seen garish photographs of agents that would scare away Canadian geese. I"ve seen postcards printed with such bad ink that a light rain turns them into a finger-painting.
In the late 1800s, an Italian economist named Vilfredo Pareto observed that, in Italy, a small group of people held nearly all the power, influence, and money, which they used to create a significant advantage over the rest of the population. He theorized that, in most countries, about 80 percent of the wealth and power was controlled by about 20 percent of the people. He called this a "predictable imbalance," which eventually became known as the 80:20 rule.
In setting prospecting goals, focus on three core areas: The number of contacts you should make each day and week, the number of leads you should develop, and the number of personal appointments you should set.
I"ve got three words for you when it comes to securing buyers in today"s tough market: Sell Yourself First.
There is a sense in which the term short sale is a bit of a misnomer. That is because short sales often take a very long time. This is just one of the things that principals and their agents need to be aware of if they are intending to be involved in a short sale -- i.e. a sale in which the proceeds will be less than the balance owed on the mortgage loan(s).
Do you know exactly what you need to do on a daily basis to hit your goals for this year? Do you know exactly how many sphere of influence calls you need to make, or how many appointments you need to go on each day? How about escrows? Do you know exactly how many escrows you need to close in order to hit your goals for 2008?
This is a question I"m sometimes asked as I lead workshops across the country, and I wanted to share my answer with you since I really think it can help your business.
"If you don"t know where you"ve been, you"ll never get where you want to go," my Grandpa Gooder always said. It"s especially true with real estate marketing in today"s market. Using the hindsight of year-end benchmarks is the best way to guarantee success in the coming year.
Question: Our HOA has a resident owner that claims there is a mold condition which the HOA is responsible to remediate. The board wants to be proactive but is hesitant to incur costs just because an owner demands it. Whose responsibility is it to pay for testing?
As buyers sit on the sidelines in the housing market -- how does the rental market fare? The two markets are more closely related than some may think. Both are strongly affected by local and national economic trends.
I write plenty of articles and books instructing real estate agents in the fine art of taking their business to the next level. I am a big proponent of agent teams, hiring assistants (both visual and virtual assistants), keeping in touch with past clients, establishing an Internet presence via websites and blogs, and working hard to build a brand presence.
How do I recruit the experienced agent?
Are you interested in creating your ideal income this year? Are you tired of waiting for things to get better? Are you feeling like you have so much more potential than you are currently using?
In Part One of this series, we discussed how both setting team goals and missions and getting organized are recipes for success in business.
Would you like to hire a great assistant, while at the same time lower your taxes, save more for the future and make your real estate practice deliver a bigger bang for your entire household?
The nation is learning an important lesson in economics -- nobody has to buy a home. Buying a home is a choice, and unless the choice is attractive, buyers will sit on the sidelines.
An experienced agent can bring not only immediate production potential to your office, but also market share, renewed energy, and potentially more experienced agents.
Lots of folks vehemently resist change. They keep the same hairdo for years despite the trends ... think "The Donald." Others among us think the best reason for doing anything is that it was always done that way. Truth is, no matter how diligently we may try to stem the tide, it will rise.
The thought of marketing makes most people clench their teeth, tighten their stomach and engage in marketing avoidant behavior that sends their business down the drain.
Do you remember that feeling you got when you contacted your first lead? You get a pit in your stomach and sweaty palms; you"re nervous and stumbling just to get your name out. What should you say? How should you act. The fear of rejection is heavy on your mind, even though all the while you"re hoping the lead explodes right in front of you -- lists, buys and settles in thirty days.
Failure to communicate is a fact of everyday life, yet your success in business will largely be dependant on your ability to transmit your message. What you say, how you say it, and the media you employ are critical to effective communication.
Here"s some great news for the thousands of real estate investors and brokers who use "Section 1031" (ten thirty-one) tax-deferred real exchanges every year: Congress has backed off its latest plan to narrow the definition of "like kind" for real estate swaps.
Sure, market conditions have shifted in many parts of the country.
But it looks like no one is safe from the overall slowdown.
Effective e-mail communications don"t just happen. They require some thought about the audience, the purpose of the message, and what the message should include to accomplish that purpose.
As I pick up and read agents’ marketing materials, I see that the curse of knowing too much about real estate kills the effectiveness of the marketing message over and over again. The problem is that when an agent reads his or her own marketing materials, the message is perfectly clear. When a consumer reads the same message, they think it is written in hieroglyphics. The problem is that when an agent knows so much already, his or her mind fills in all the blanks automatically while the average consumer is left scratching their head.
More than likely you didn"t grow up dreaming of being a real estate agent. In fact, becoming a salesperson of any sort was something you never aspired to become. You may even have some feelings of ambivalence now that you are in sales instead of more traditional professions like being an architect, engineer, doctor, lawyer or accountant. In the back of your mind you are probably asking yourself: "How did I end up selling real estate and why does it seem so hard."
With the holidays and the new year behind us, new agents all seem to be asking the same thing: What can they do to build their business in 2007? New agent sales coach Brian Hilliard weighs in with some helpful tips.
Prospecting is one of the easiest but most misunderstood concepts in the field of sales.
As a kid growing up in rural Oregon one of the things I would look forward to during the weekends was a good old fashioned drive-in movie. Remember those days? When even a bad movie was fun with a trash bag full of popcorn, ten of your friends, and a snack bar full of candy? Of course that changed as I got older as most all of the drive-in"s slowly disappeared.
In setting prospecting goals, focus on three core areas: the number of contacts you should make each day and week, the number of leads you should develop, and the number of personal appointments you should set.
Imagine buying a home where you spend just 13 minutes at the closing table and only have to sign once. You read that right, just once -- instead of the dozens and dozens of documents typical of most real estate closings. While this may sound like science fiction, it just recently happened for a client of Stephanie Evelo of The Evelo Team in Indianapolis, IN. And the benefits to buyers and their agents are truly huge.
A lease is a contract granting a tenant use or occupation of a landlord"s property for a specified period of time in exchange for a specified amount of rent. Leases are used in both residential and commercial property situations. When a tenant enters into a commercial lease (hereinafter referred to as "lease"), the tenant must be completely aware that the lease might be the most important economic obligation he will have. The terms of the tenant"s lease might, in the end, be the determining factor for success or failure of the business.
They may get a website that their nerdy nephew makes for them, or else they buy the most minimally featured one from some local web design company that themselves has little clue about web -- or any other kind -- of marketing beyond perhaps making "pretty flyers."
Everyone understands how MLS-type websites show multiple homes for sale. But beyond the MLS, why not thrill your sellers by highlighting just one home at a time?
A weakening housing market could have you considering a career change, but there are plenty of reasons to hang in there. If you"re having a tough time finding buyers and sellers, here are some suggestions.
Realty Times editor, Blanche Evans, recently interviewed Tom Di Mercurio, owner and broker of The Mercury Alliance, LLC of Denver, Houston and Tulsa, who also plays a strong role with The Freedom Realty Exchange, about REO brokerages. (For more about Mr. Di Mercurio, visit themercuryalliance.com.)
As the heavenly real estate market that we have experienced over the last five years comes back down to earth, many agents have forgotten -- or never learned -- the importance of educating consumers so that their expectations are realistic. Back in the early "90s when home prices had been flat for five years, agents knew that if they took a listing without having a serious conversation about how to price a home in a buyer"s market, that listing was at best a waste of time and money, and at its worst a way to create an unhappy client who blamed you for their overpriced home not selling when the listing expired.
"I don"t think I"ll ever be able to buy a house. My credit is terrible."
The future of real estate is changing at high speed. In the future, Realtors® who form teams to design, build and run their business will continue to thrive and prosper, while individuals doing it on their own could be left behind.
For long-term prospecting success, apply the four disciplines that are common to agents who consistently achieve their revenue and quality of life goals.
To office or to home office? That is the question for one Realtor who wonders if it will be to her advantage.
Everyone uses search engines. They are so common that many internet users make them their default homepage.
A recent panel of leading architects hosted by Function, an integrated marketing agency specializing in communication solutions for the building and construction industry, revealed that the use of Building Information Modeling (BIM) is on the rise amongst architects, as well as construction companies, making both key targets for building product manufacturers.
Real estate is cyclical by nature. And in our current market, conditions are rapidly changing both in my market and across the nation.
Real estate investors and income property owners may not know it, but they"re on the verge of getting some important federal tax benefits from an election-bound Congress.
The term "podcasting" is a Net-born neologism that refers to broadcasting audio information (i.e. music, spoken word, etc.) over the Internet specifically to be downloaded into and played from an MP3 player ("MP3" is a popular kind of compressed digital audio file that can maintain high sound reproduction quality with relatively small file sizes). Apple"s iPod® is the most famous of these devices, hence the term "pod" casting. Because these devices tend to be highly portable, they provide a unique opportunity for anyone to listen to anything, including your audio message, anywhere at anytime.
When we begin our careers as commercial real estate agents, prospecting is often the activity that occupies most of our time. We don"t have any transactions we"re working on and we may not know of anyone who"s looking to close a commercial real estate transaction, so the majority of our time often revolves around finding some people we can do business with.
There are plenty of trainers out there teaching the referral based business now. Agents can now invest in elaborate systems to drive this referral business. Overall, I believe this to be by far the best way for an agent to prospect. Unfortunately, most agents start their system with past customers after the closing.
When we talk of real estate franchising, we typically think of large organizations that offer turn-key branding and systems for broker owners. Now however, thanks to the Internet, individual agents can either offer their own branded "franchise" to other agents, or take advantage of those being offered. Here"s how online-based "franchising" and licensing offers whole new possibilities for additional income and a lucrative exit strategy for clever agents who take advantage of it.
Testimonials are one of the best ways for you to communicate your value to your prospects. A third party endorsement always carries more weight than you tooting your own horn. I find many agents pass up opportunities to build their testimonial pool.
This article is for you if you have ever had someone have to ask you what something says that you wrote.
It can happen in any market, and it still happens now and then in the one we are in. A property that is especially "hot" becomes available. Maybe it is simply a matter of price. Maybe it is location, or some special feature -- physical, historical, or otherwise. Whatever it is, many people want the property, and sometimes at whatever the price. In short, it is the kind of property listing that produces a bit of a frenzy.
If you"re like most realtors, you"ve worked with dozens of normal people buying and selling their homes. You probably understand them pretty well.
Over the years I have used thank-you"s to cultivate more futile ground for business. Although not everyone mines for gold this way, there are many who understand the value of being pleasant and letting everyone know who you are and what you do.
Recently the National Association of Realtors® (NAR) released the 2005 Legal Scan. This is a report prepared by Legal Research Center, Inc. The research project was first commissioned by NAR in 1996, and then every two years after that, to systematically collect information on over 90 issues involving the legal liability of real estate brokers, agents, and managers. Says Laurie Janik, NAR"s general counsel, "… Legal Scan is our crystal ball to a better understanding of the key legal issues and trends affecting the U.S. real estate marketplace … [It] provides NAR members with a wealth of trend information on agent/broker liability … helping them better understand -- and plan for -- the legal pitfalls and compliance requirements they will likely encounter."
"I am sick and tired of having tenants fail," yelled Mulroney at his property manager. "You need to do a better job screening those tenants," he exploded as he slammed the phone down.
Real estate sales is a very intense business. We can so easily get caught-up in the day-to-day details of closing prospects and transactions. And as a result, few of us ever stop to think about what is going to happen when we have the ultimate "close" -- our retirement.
Question: At our annual meeting, the procedure for voting in person and voting by proxy was different. Those who attended the meeting registered by signing in. Proxies were only counted if the signature on the form matched the signature of record. Is this standard procedure?
Years ago I was attending an annual planning meeting for a real estate association that I was President of and a member of its Board of Directors for over ten years. During lunch we had a speaker come in who was a business consultant with an extensive background in psychology, and he began talking to us about the psychological profile of the typical real estate agent.
We continue to consider the question: "What are the seller"s rights when the buyer does not close escrow on time?" First, we note that the failure of a buyer to close on time does not automatically trigger a seller"s right to cancel and, perhaps, keep the buyer"s "good faith deposit" money. Whether or not a seller will have those rights depends on the circumstances.
California escrow companies have a duty to determine that the brokers or agents to whom they pay commission checks actually do have a real estate license. This duty arises from California Business and Professions Code section 10138. It was confirmed recently in a Second District Court of Appeal case (Kangarlou v. Progressive Title), in which the plaintiff had brought an action against the escrow company for having paid commissions to persons who did not in fact have valid California real estate licenses.
One Canadian economist declared that Canada"s "housing market boom is officially over," while another said, "After many false calls, there is now convincing evidence that Canada"s housing market has come off the boil." But two recent reports say that while the market is no longer sustaining its record-breaking pace of the last several years, it is still healthy.
When buyers are choosing from among several homes, there is one selling tool that is indispensable even in the electronic age -- the listing feature sheet. The feature sheet not only contains visuals of the home to jog the buyer"s memory, it also lays out the special amenities of the home and gives the listing agent"s contact information.
All real estate markets fluctuate, real estate expert Jim Ross says, and it"s his company"s job to identify segments of the country, and specific developments within those markets, that are prime to increase in value in the next few years.
If you had to guess, what would you say is the number one human need. Love? Money? Security? What about the need to be noticed and appreciated. Most human beings want to be accepted for who they are and appreciated for what they do.
New agents are critical to your business plan being capable of delivering profitability, mortgage capture and finally, injecting vital energy into your environment. Right now everyone wants to get into the business. Why the need for focus on attracting new agents?
Asking people for referrals seems like a simple, easy thing for agents to do. But if this is the case why do so many agents fail to do so? Part of the reason may be they simply forget to ask for referrals, or they may feel discomfort in asking people for referrals.
The real estate business can be brutal on the emotions. Most of us, at one time or another, have had to deal with the emotional toll of losing a client. It hurts to have a person you know you did a super job for in the past, who you"ve kept in contact with and seemingly done all the right things to create a client for life, make a move without you. Do you take it to heart and get depressed, or perhaps downright angry? Or, do you use it as an opportunity to take a hard look at your business and see what can be learned?
Don"t celebrate an end to the housing slump just yet, but the leading-edge San Francisco Bay Area is looking pretty good this spring.
Prospecting, the bane of agents old and new; "I should be, I need to, I"ve got to, I have to," never "I want to" are the words I hear whenever the subject matter is brought up. Prospecting conjures up visions of knocking doors and sweating hours on the phone cold calling.
Success in real estate sales and leasing primarily comes down to being very good at these two activities -- identifying the prospects you want to work with, and successfully enrolling these prospects in working with you exclusively.
According to water damage repair experts, water damage is the number one reason homeowners file claims against their insurance companies.
The Phoenix real estate market is beginning to show signs of life again. Jay Butler, director of Realty Studies in the Morrison School of Management and Agribusiness at Arizona State University"s Polytechnic campus, says as the prices have dipped to 2005 levels, April sales responded with the first upward swing in as many years.
Almost every top producing Realtor®, sales guru, and "How-To" book on building a financially successful real estate business will tell you one of the primary keys to success is a well-designed and executed business plan. A plan is the roadmap to success. Without it you"re likely to get lost on some real estate back road and end up either leaving the business or wandering aimlessly without ever getting closer to your goal. The mistake far too many agents make is developing and executing plans that end up requiring 60, 70, 80 or more work hours a week, leaving no time or energy for distractions like family, friends, community service or self-care.
Women especially find it more of a challenge to take care of "self" first. We are heroic at making sure kids have lunches, and husbands have found lost keys and briefcases. Even the cat"s needs are met with food and water before we rush out the door. But who takes care of the care giver? Many of us jump in the car, rushing to our first appointment already out of control, .the first step in a long day of denying ourselves those little extras like breakfast and a few minutes of critical centering to start the next life adventure.
With competition so tight on the Web between Website service providers, lead generations companies, and the agents they both serve, it"s good to hear a success story. Here"s a follow-up on an agent we covered back in April, 2003.
In coaching Realtors, I"ve found that most of them understand the importance of consistent and active prospecting. They know what they need to do, but they just don"t do it (or don"t do it enough). Many promise themselves they"ll get down to prospecting tomorrow, next week, next month or next quarter. They may even go after it for an hour, a day, or two.
April 15 may be months away, however, year end is a great time to start planning for next year"s tax-filing season. As a result of many recent tax changes, early tax planning is crucial, and it"s not too early to begin today by crunching some numbers and mapping out your tax plan. Remember, there may be a little you can do to reduce your taxes for this year after Dec. 31.
A very bright man I know once told me his favorite saying - "I"d rather be lucky than smart."
The 15-year FRM this week averaged 5.55 percent with an average 0.6 point, down from last week when it averaged 5.60 percent. A year ago at this time, the 15-year FRM averaged 6.06 percent.
Congratulations.
How often do you move away from the "result" of the day and evaluate your "process" for the day? Is there a line outside your office all day long? Are you exhausted? Are you leading by empowerment with a constant focus on growth? Are you the designated "problem solver"? Are you micro-managing? Maybe a little bit of all of the above? Maybe you don’t know, because you jump on the treadmill when you walk in the office and jump off the treadmill when the day is done.
If you"ve been in our business for awhile now you probably have a good number of clients you"ve already closed transactions with. But one of the problems in our industry is the nature of our business doesn"t normally require ongoing contact with our clients after we"ve closed transactions with them. Attorneys, CPAs, and insurance agents all have ongoing relationships with their clients throughout the year. But as a real estate agent, once you"ve closed a transaction with a client, it"s easy to get out of relationship with the client unless you proactively do something to avoid this.
If you’re an agent working in California, Connecticut, Massachusetts or elsewhere in New England, you don’t need to read any further…..unless you believe that what can happen in one state can happen in another…..Those of us working in New England are still working in a robust market. However, what about our peers working in places such as Dallas where currently the market has shifted and sellers are not willing to reduce prices, while buyers are not willing to pay even last year’s prices.
Some houses sell themselves and others require some salesmanship.
The heart and soul of a home comes from the finer details that add drama and reflect the personality of those who live inside and share its comforts. The most beautiful homes are those that invite and captivate.
Ever feel like you’re on a treadmill that just won’t stop? Like you’re running around at work, but not getting as far as you want? I know how you feel.
Choosing a brokerage firm to work with can be a confusing proposition. Whether you are a new agent or a productive experienced agent the decision should be based on some critical points. Here are the three of the most critical do"s and don’ts:
If you"ve ever had to take over tidying a home to get it ready for a showing or an open house, you already know how challenging it is for sellers to get a home ready for sale and keep it that way.
Any savvy real estate investor will tell you a foreclosed home that is priced-to-sell could become the deal of a lifetime.
Most agents in our industry work without partners. But there may come a time when you find yourself thinking, "Could I produce better results if I worked along with a partner instead of continuing to work alone?"
Just when you think things are flowing smoothly in your real estate career, personal or family matters come up. Others are requesting your help and your time more than usual, you"re having problems with your mate or family members and you feel burnt out because you"ve worked so hard to get to this great place in your career, and now you must work harder.
Do you know exactly what you need to do on a daily basis to hit your goals for 2004? Do you know exactly how many sphere of influence calls you need to make, or how many appointments you need to go on each day?
There is no magic to making people feel special. Authentic concern and service will separate you from the pack in an instant. Here are some ways to make your buyers feel special while you are driving them in your car.
Ruth Parker, our market expert for Western Chester County reports that, since March, the real estate market has slowly come back to life in this area of Pennsylvania.
With all the hype about housing information on the Web, virtual tours, web commercials and digital brochures, the bottom line remains the same….the lion"s share of buyers still traditionally work with a real estate agent to find property.
Of all the chores that we perform in our industry, taking a listing probably is one of the more detailed and involved processes that we do in our daily chores. It is a very involved procedure from market analysis, research, CMA and then finally our listing presentation. However, we must not get so involved in the process of winning the listing that we forget to ask ourselves if it is smart business sense to take the listing, and on what terms?
As "The Foreclosure Empress," I"ve had the pleasure of working with many great investors and the misfortune of working with some that were not. I have found that there are three types of investors: the beginner, the professional, and those that fall in the middle.
Was it only a year ago when hardly any of us Realtors knew anything about swapping reciprocal links with other sites? Then, boom, it was the rage. But why?
When it comes to real estate, a paraphrase of the old saying, "The bigger they are, the harder they fall," could be, "The deeper the prices fall, the faster they recover." All across the country, pending sales -- the number of contracts written in any given 30 day period -- are on the rise in cities and regions where prices have hit what we call the "psychological pricing barrier."
A new agent I"ll call "Private Benjamin," was recruited into a brokerage with promises by the broker for lots of help in getting started. Once she passed her exam and showed up for work, the broker has been busy with other details and hasn"t had time to do more than show her where her desk and phone are. Like Private Benjamin was made false promises by her recruiter, this agent is finding out that some brokers will tell you what you want to hear to get you in the door, and that by the time you have your business cards and signs paid for, you"re going to be stuck for a while.
Real estate is a fast-paced, data-intensive business. And in today’s economic environment, Realtors are looking for ways to improve all facets of their business in order to stay competitive and gain more share of the market.
We need to rethink some of the stuff we put in ads, contracts, the MLS and flyers, and remember that writing should be concise and free of ambiguity, particularly with contracts.
A dear friend has her homestead for sale. The tales she tells me about what agents and buyers are saying about the house are causing her to wonder whether some buyers" agents are closer to limousine drivers than real estate agents. They don"t want to move properties, she says. All they want to do is chauffeur buyers around.
Brand recognition is the name of the game when it comes to positioning yourself in your local market. Just like national companies compete to be number one in the public consciousness, you must systematically market your personal brand to earn precious mind share among potential home buyers and sellers in your chosen market. This is where a good lead generation program comes in. Unfortunately, many agents make two costly mistakes in lead generation: They underestimate the importance of building their personal brand and they are not consistent and systematic in their approach.
Judith Clausen in Denver, Colorado, reports that homes in her area are at or near their bottom.
Real estate professionals from all over the country who are owed monies from slow-pay or nonpaying asset managers may obtain some help with relief through a Texas attorney. Debra Parker, attorney at law, is representing broker Joe Gluckman to help him collect over $2,500 he says he is owed by Cartel Asset Management, an asset management company located in Colorado.
These days, everything seems more complicated.
While having excellent presentation skills with your clients and prospects in business situations will carry you very far in your real estate sales career, nothing will solidify your long-term relationships with your clients more than regularly schmoozing with them in social situations.
For the last couple of decades birthrates have declined drastically
Holiday decorations can make a home look warm, festive and inviting, but they can also make it look overcrowded, or obscure the home"s greatest selling features. This poses a dilemma for listing agents who want to help their clients stage their homes the most effectively. How much is too much when it comes to holiday decorating?
You’ve just sold a house. That, is you thought you’d just sold a house – but the title company has just discovered that the there may be a forgery in the chain of title. The signature of a previous seller looks vastly different from his signature on the purchase documents. Since the previous sellers were going through a divorce when the property was sold to the current owner, the title company wants to check the validity of the previous owner’s signature.
One of the very best ways to catch your prospects" attention is to
If you have had to renew your homeowners insurance policy recently, you
Should you prequalify your wealthy buyers? In many of my finance classes with experienced, successful agents, invariably a nicely manicured hand is raised and the agent explains to me that in her market, agents would never think of asking their wealthy buyers about their finances. It just isn’t done.
It has become a regular occurrence. A manager will walk up to me at the end of a seminar and ask about his or her new young associate. "They have all the credentials," the person will say. "They"re ambitious, confident, and maybe a little arrogant. It is clear they want to run the place, and I"m not ready to retire. I don"t want to lose their skills and eagerness, but they"ve only been in the business two years. What do I do?"
Many factors, separately and in combination with others, will build walls to block productivity. While most people intuitively and instinctively want to be productive, they may have trouble getting over the following blocks to productivity.
Many companies view seniors as a bunch of old geezers sitting
In the light of recent armed robberies of Realtors sitting open houses in the Dallas area, as well as post-home-viewing burglaries committed by criminals posing as buyers, the Greater Dallas Association of Realtors offers general safety and open house tips to Realtors.
HUD just changed its condominium rules again, and there"s both good news and sobering news for investors and developers tucked away in the revisions.
As a new Realtor, one of the first tasks you are told to do by your manager is to contact your sphere of influence and tell everyone in it that you are now a real estate professional and would like their business and referrals.
You’ve earned a buyer’s trust and helped him find the right house. You’re ready to write up the offer. Before putting pen to paper, however, the buyer turns to you and says he’d like his parents to see the house first.