Thursday, December 19, 2013

Get More Business with Annual Reviews




Get More Business with Annual ReviewsMost people see their tax preparer, financial planner, and doctor at least once a year—but who's watching out for their investment in real estate? Shouldn't it be the person who sold it to them? The annual client review (ACR) is easy to perform and so unexpected that clients will look forward to it and spread word about the value of your service far and wide.

The annual client review is a current snapshot of the market, which impacts the value of your client's home. Rather than a simple comparative market analysis, the ACR should account for relationships between price per square foot, assessed value, and current market value.

You can perform an ACR on the anniversary date of purchases, do a batch each quarter, or fill up your "slow" month and handle them all at once.

Make sure to create a nice looking bound package, mail it with a cover letter, call the client to tell them you sent them something, and follow up with a phone call in a week or two to review the findings. Easy!

What if it's bad news? Most clients will appreciate your candor—better this news comes from a trusted advisor like you than a stranger. Besides, you don't want clients making serious life and financial decisions based on faulty information.

Don't be surprised if annual client reviews become the single most important business generating activity for you. Yes, it takes a little work and you may have a lot of clients! Our advice: test 20 and see what happens!

Monday, December 2, 2013

When FHA Requires Lead-Based Paint Repairs


If you're interested in working with HUD REO properties and buyers who need FHA financing, you may come across appraiser-required conditions to perform lead-based repairs.

The only time lead-based repairs are required for an FHA-financed HUD REO property is when the property was built prior to 1978.

Lead-based paint removal, however, falls under EPA regulations. A contractor or investor may cure the paint issues, but an FHA underwriter will require a copy of the contractor's Certificate of Completion from an EPA or state provided lead-based paint training program. Repairs completed by owner-occupants do not require this training certificate, but do require documentation of the repairs.

And remember, the FHA appraiser's final inspection will only certify the repairs are completed, not that they were performed according to EPA guidelines.

This rule is required by FHA because renovation, repair, and painting activities such as cutting and sanding can disturb lead-based paint, creating hazardous lead dust, which even in small amounts, is enough to poison children and put adults at risk.

Don't forget to let your renovation-minded clients know!

Monday, November 4, 2013

8 Steps To Reduce Property Taxes



As the sluggish economy drags on, county boards everywhere are looking for ways to replace lost income, and re-assessments of residential real estate taxes is just one of those ways. Sometimes it's fair, other times it avoids belt-tightening. If your property taxes have been raised and you feel it's unfair, here is how to prepare to meet your assessor for a review to lower them:

1. Look for reporting mistakes. Examine the assessor's entire property description. Note discrepancies and document them with blueprints, surveys, photos or other inspection reports.

2. Compare neighborhood assessments. Are other homes in your neighborhood assessed similar to yours? Check the web first; some counties post assessments online.

3. Compare current sales. Talk to a local real estate agent (if you need a referral, I'm glad to help) and get a report of comparables sold within the last 6 months. Sold homes count, listings don't.

4. Take pictures. Document where your home needs repair compared to other homes in better shape in your neighborhood.

5. Get a new appraisal. If your home is unusual or hard to "comp" this is the one time it can work in your favor. If you recently refinanced and the value is lower, use that report instead.

6. Get your contract. If your taxes increased soon after you purchased, values probably haven't changed that much. Document with your purchase agreement.

7. Are you exempt? There are many special exemptions: homestead, mortgage, senior citizens, veterans, disabled persons, and even energy-efficiency. Check with your county and check them all.

8. Prepare your case. In writing, briefly and professionally describe why you are entitled to the reduction, followed by documentation of your reasons. Make sure you have any required forms completed and know all deadlines for your appeal.

Amp Up Your Database


How To Capture "Orphaned" Clients
Amp Up Your DatabaseSince the housing crisis began back in August 2007, over 400,000 Realtors have "left the building." One reason for this, according to Lawrence Yun, National Association of Realtors Chief Economist, is that many who flocked to the industry for a quick buck around five years ago have left the business to pursue the same elsewhere.

But there are many different reasons people leave the business—from relocation to retirement—so who's looking out for all those former clients now?

The one who keeps in touch with them is the one who will win their future business.

Follow these easy steps to capture these potential clients:

1. If an agent is leaving or has left the business, ask if he would be willing to leave his clients in your care. If his answer is yes, ask if he would vouch on your behalf with an introduction letter. Volunteer to create this intro marketing piece yourself, or it may never happen. Then before he leaves, ensure to collect his list of database contacts either on a spreadsheet or out of his contact management system.

Alternatively, if you're part of a real estate brokerage, ask your broker for a list of "orphaned" accounts and database contacts.

Add them to your contact management system and start a marketing campaign to this group.

2. Send your introduction letter, explaining to this new group of clients that their former agent has left the business, that you'd like to keep in touch with them, and that you'll be calling in a few days to say hello.

3. Follow up with a phone call as promised to obtain an idea of their status, and request permission to gather their email address to keep them up-to-speed on what's happening in local real estate. This will also be their permission to be added to any sort of email marketing campaigns.
If anyone is going to add a slew of new names to their database by following up with these clients—while reaping the future income and referrals they can bring—shouldn't it be you? 

Thursday, October 24, 2013

Get Fast Business from Twitter


Think Twitter can't help your business grow? Think again! Gary Vaynerchuck, founder of WineLibrary.com, and author of Crush It, knows how to get business, fast. In a recent LinkedIn article, he showcased 13 real-life tweets that real estate agents can answer directly. Not only does this bypass advertising costs, but it goes right to the source of their business: consumers looking for real estate. For example, the following tweets below were from real househunters:



This one-to-one approach is under-utilized because agents (and many other business owners) tend to think spending money on billboards, print, and banner ads is more effective than direct engagement with prospects. Vaynerchuck doesn't think so: "People are acting more and more human on the internet. And humans want to talk to other humans, not to banner ads."

Ready to try it? Head over to www.twitter.com/search and enter terms like "house hunting" along with your city, and happy house-hunter hunting!



� Vantage Production, LLC. All rights reserved.

Monday, September 9, 2013

Homebuyers Still Worried





So you know your MLS database, you know your market, and you know 
what your area has to offer from schools to entertainment--but do you know 
what your prospective clients are thinking right now

Knowing that can help you add a string of happy clients to your database this season.

According to a June 2013 survey of U.S. home buyers by Harris Interactive 

and Trulia.com, this year's crop of home buyers is worried about, well, 
just about everything.

Here are the overall "Worry Survey" results:

The top concern overall is that mortgage rates will rise too high too soon and 

price buyers out of the market, followed closely by home prices rising too fast. 
What's the main difference between hotter markets and average ones? Buyers 
in hot markets don't seem as concerned about qualifying for a mortgage.

© Vantage Production, LLC. All rights reserved.

Friday, June 28, 2013

4 Steps to Develop Your Niche



"Know thyself" - Ancient Delphic maxim

When you develop your niche, be it working with a certain neighborhood or property type, prospects respond to your expertise and enthusiasm. Prospects are less attracted to agents not working in their strengths and sense their apprehension. Ask yourself these four questions to discover your niche and prospect type:

What market do you know best? Just as there's no single housing market in the country, there are multiple markets within each city. Where are the bulk of your sales located? If you don't know off the top of your head, investigate your sales history. Next, ask why? Do you live there, or do you have your finger on the pulse for another reason? Knowing that reason is your head start.

Who do you care about most? Do you sympathize with first-time home buyers or do you know how to represent move-up buyers better than anyone? Here's where your previous job experience, education and specialized knowledge can come into play. This will help you develop an understanding of your "favorite" buyer or seller profile–the types who come to you over and over again.

What's your property passion? Are you the Condo Queen or the Golf-Course Guru? Perhaps you're interested in land, historic homes, horse property or new construction. Your property preferences should translate well to your prospects and customers, building their confidence and trust in your expertise.

How about hobbies? Classic cars or motorcycles, fitness and outdoor sports, dogs or horses? Clients want to work with people who like the same things. Common ground is a great way to build rapport and put stressed out sellers or shoppers at ease.

It doesn't matter what your list looks like, it's totally unique, and that's going to attract your group of clients. Light up those differences like a beacon in your marketing. Let people know what you care about most and your breakthrough niche is just around the corner! 

Monday, May 13, 2013

Productivity Tip: the 2 Minute Rule!

This is a terrific productivity tip from the book Getting Things Done by David Allen.  I have implemented this strategy in my daily workflow and have seen it pay huge dividends.  It is almost impossible to believe I have done without it for so long!

Tuesday, March 19, 2013

FHA Makes Changes to Mortgage Insurance Premiums

What Does This Mean for Your Home Buyers?

FHA recently increased monthly mortgage insurance premiums on the most standard FHA loans.

How will this impact your home buyers?

This will only slightly increase a home buyer's monthly payment.


For example, on a $175,000 loan amount the payment will increase by about $15 per month, based on the new premiums.

Another change is the length of time the mortgage insurance will remain in effect. This is inconsequential however, since rarely do borrowers keep loans for the full life of the loan.

Even though monthly FHA payments will increase a bit, FHA still remains the most flexible and affordable loan program for buyers with less than a 5% down payment.

The good news is that home loan rates are still at historic lows right now, and it's a great time to purchase a new home. If you have any questions regarding these changes or would like to discuss how I can help one of your home buyers get qualified for a mortgage, please feel free to call or email me.

Wednesday, March 6, 2013

Can iPads Really Help Realtors? By RACHEL LAMAR, J.D.


Can iPads Really Help Realtors?
By RACHEL LAMAR, J.D.


I will admit it, I am a Mac fan. I own a Mac computer (two actually–a desktop and a laptop), and I have an iPhone (which I can honestly say revolutionized my productivity…really). So, when a few of my colleagues told me I “had” to get an iPad, I was a bit skeptical.

Then I read a few blogs on how agents use  their iPads for listing presentations, and I was convinced I needed to add this technology to my arsenal. $800 later (and after many questions from my husband about why I couldn’t just use the laptop, why I needed the iPad, etc…by the way, he just bought one for himself; I didn’t use the word “hypocrite”) I am thrilled with my new toy and what it is doing for me. Still not convinced yet?

There are two main reasons you need an iPad. One, there is nothing better when you have a listing presentation. You can create an entire presentation to show your client…no need to bring anything else (more in a minute). Second, when you are out showing property you can pull up listings on the MLS on a screen your clients can actually see without having to squint, among many other cool apps you can use to show them about the neighborhood and town you are in. Here are some of the iPad apps that will truly change the way you do business.

Keynote: Here is where you can create your entire listing presentation. It’s a bit like a power point presentation but even better and easy to use. You can incorporate photos, statistics, graphs, marketing examples, neighborhood information, etc. This is what you will create before going on your listing presentation. Think about it: instead of telling your clients about how you will  market their home, you will show them. Mock up a beautiful flyer of their home, show them some of the sites on which you will market the property…the possibilities are endless. Pretty powerful. If you think all this is too difficult, trust me–it isn’t. If you think you should skip it, trust me again, you shouldn’t.



iAnnotate: Okay, this is the future of real estate, everyone. iAnnotate allows you to upload contracts and other documents. Then you purchase a $10 “pen” at the Apple store and Voila! Your clients can “sign” docs immediately. If you show a house they love, you can write an offer on the spot. Listing presentation? Sign that listing agreement right there. Then just click on your email and email them a copy, send one to your broker, another agent, your title rep…you get the idea.

PaperDesk: This application allows you to  make notes. You create a new notebook for each topic (or client). Then, as you walk around property you are showing, or walk around a home you are hoping to list, you can make notes. Since the iPad is so lightweight you can take it into properties with you…it helps so you don’t have to scribble down notes later, or worse, try to remember after you have shown 5 or 6 houses what their responses were to each.

GoodReader and other desktop access apps: One thing the iPad can do that is phenomenal is to access your home or office computer while you are on the go. If you forgot to take along a document to a meeting with a client, no worries. Depending on what kind of system you have and what type of file you need to access (document, video, etc.), there are a few apps that will allow you to do so. Since I have a Mac desktop in my home office, where I store all work and client information, I use the GoodReader app. It allows me to connect to and access all kinds of files through file servers, which I can then open and display on my iPad. There are also apps that allow you to control your entire desktop.

Wikihood: I discussed this in my last blog on must-have real estate apps for smart phones. If you have not downloaded it yet on your phone, and even if you have, you should have it on your iPad as well. It basically allows you to show your clients everything, and I mean everything, in the surrounding area, from information on the exact neighborhood you are in, to local places to visit, places of worship, colleges, museums, airports, theme parks, resorts, beaches, places to walk and hike…it is simply an incredible application, and for those out of area clients it is priceless. You can use it to put in your listing presentation, or to create a file to present your client at your first meeting to go view properties. It will definitely “wow” your buyers.

Social Networking Apps: You definitely should have these on your iPad too–sites like Trulia, Facebook, LinkedIn and Twitter. You can use these to show your clients–buyers and sellers–how in tune you are to social media, and how you use it to promote their properties, get access to the latest real estate information, and to show them that you are an all-around “in the know” agent. Plus, remember you are constantly uploading your blogs to these sites (or links to your blog site through these sites, which I prefer), so you will look great in their eyes.

OpenHomePro: This free app replaces the old school sign in sheets at open houses. It allows you to collect visitor information in a technologically savvy way, showing potential clients that you are up to date on the technological evolution of real estate. Then, when the traffic dies down and you are sitting there alone for a few moments, you can search the MLS and email properties to the people you just met. You can also use Wikihood to send them more information on the area! Or, you can use the iPad map feature (comes standard with your iPad) to pull up maps of the area, point them toward other neighborhoods, etc! Or…you can post an open house invitation on Facebook, or…ok, you get the idea.

MLS applications: Obviously you need to have access to your local MLS on your iPad. I also have Realtor.com, Trulia.com and a few others on there. Many clients are used to these sites.

Real Estate Calculator Apps: There are several calculator apps to show potential clients their mortgage possibilities. Great for using before you write that offer.

PrintCentral for iPad: This is a great app that allows you to print directly to all printers without additional software, and to transfer docs and files via iTunes.

Here are a few more good ones if you want to really have fun:

BrokersHelper: This free app allows you to use your BrokesHelper.com contact database. I do not use this one because I do not have my client database with BrokersHelper.com. I believe it is a $49.95 fee to join, but if you do not have a good database I suggest using this one, as the app allows you to view clients, notes, listings and listing notes, and to be able to access this from anywhere via your iPad.

Property Evaluator: This app is great for your real estate investment buyers. It allows you to pull up performance projections for properties, and to compare them against other properties. You can also email a PDF of the projections to your clients, making you a star.

Please visit my personal website for more blogs on real estate and technology, among other real estate-related topics, and please let me know if you use any of these apps and what you think, or if you discover others that are terrific. Finally, don’t forget to make your logo the main screen of the iPad, so you look even more professional when you open it up!  If you simply cannot splurge on the iPad right now, make it a goal this year to save up for one.

Friday, February 22, 2013

Top 10 Real Estate Applications for the Apple iPhone and iPad By Bill Petrey, Realtor

Top 10 Real Estate Applications for the Apple iPhone and iPad


The iPad 2 has been out for awhile and like every other earthling, I am drooling over the possibilities of the iPad 3 and hang on every rumor involving the iPhone 5.  Besides being a gateway drug to buy all things Apple, my iPad and iPhone have freed me greatly from my PC (sorry, I mean Mac Pro) and made my Windows notebook computer a very expensive paperweight.  The new iPads and iPhones were made for road warriors of all types, but especially for real estate agents.  The Apps Store is filled with lots of great real estate apps however only a few rise to the top as my favorite real estate applications.  These are the must-have apps for those who crave the best real estate agent tech toys.

The Top 10 must have iPhone and iPad Apps for Real Estate Agents and Realtors

10.  Zillow App

Sure, Zillows app, Trulia’s app and Realtor.com’s apps pretty much do the same thing and since everyone knows what those apps do, I won’t go into details.  Since their so similar, they all rank as #10.  However there are some differences that make them distinguishable from one another.  Zillow is on the bottom of the pile in my criteria because of the lack of accuracy on their listing data, especially the Zestimate.  However, my biggest gripe with this app, and the website in general, is that the agents it gives you to contact are not the listing agent, but paid advertisers instead.  The listing agent is hidden away at the bottom of the info.  This is my biggest gripe regarding Zillow, but hey, everyone needs to earn a buck and Zillow is an advertising forum after all.

10. Trulia App

I like Trulia’s app better than Zillow because there’s less clutter and there’s no hint of a Zestimate.  The Trulia app also doesn’t flood you with subtle agent advertising by actually giving you the name of the selling agent and no one else.  I like that.  Besides, who’d hire an agent based solely off the fact the agent paid a few bucks to advertise on Zillow?  Okay, probably lots of people with unsold homes, but I digress.

10.  Realtor App

What does this app offer that Zillow and Trulia do not?  Accuracy!  Because it’s from the National Association of Realtors, it offers limited access to all of the MLS databases.  Not only is MLS data the most accurate data possible, it’s also updated regularly so it’s probably the most current.

9.  LoopNet Commercial Real Estate Search

LoopNet is like the Zillow or Trulia of commercial real estate and if you do any commercial real estate business, this app is handy to have around.

8.  Classifieds2Go

Lots of FSBO sales can be found in the classifieds and this app is a convenient way to search classifieds while on the go.

7.  Real Estate Calc:  Mortgage & Home Loan Qualification Calculator

I believe the name says it all.  It’s certainly long enough to.  What I like about this app is that it’s just a calculator.  No house searches, no maps, just calculations, just loan qualification calculations, how much  you can afford calculations, etc.  You can also email the results to your client.  This app also calculates agent commissions.  That makes this app a keeper in my book.

6.  Open House Manager

Keep track of open house attendees by entering them into a database that can be imported into your contact management system.  Now you have no excuses not to follow up with potential buyers.  Also, it’s easier to lug an iPad around than keep track of sheets of paper or a clipboard.  Plus, it just looks cool.

5.  DocuSign

Docusign’s app is a great way to electronically sign and distribute contracts and keep track of the signature process.  Another great aspect of this program is that you’ll have the current copy of every contract with you at all times.

4.  Agent Reports NTREIS MLS Sheets

This application gives you access to the Tempo version of the listings in the NTREIS (Dallas /Ft Worth)  MLS, including notes, Agent Reports and attached media and documents.  Just think of all the paper you’ll save.  The only drawback is you can only access each listing by MLS number only.  There’s no browsing or searching for houses in general, however you can use Realtor’s app to lookup the MLS number on an active listing.  Of course, you would have done your homework beforehand so you should already have the MLS numbers anyway.

3.  Supra eKey (iphone only)

The Supra eKey app replaces the need for lugging that little Supra Keypad around.  Now you can access Supra keyboxes with your iPhone.

2.  Keynote

Apple’s Keynote app is a great presentation program.  I like to use this app for giving a listing presentation.  However, make sure you have handouts.  The more tech you can show a client, the more leading edge you look.  Homeowners like up-to-date agents.  Just saying.

1.  Google Maps

It’s already on the iPhone and iPad, but it’s still very useful in finding the house’s location and you can also look around the neighborhood using the street view mode to see if it’s next to a busy street, electrical power station or anything else that would discourage you from buying it.  Best of all, you can find this out before you drive there.  Also, when you’re out in the field and need to find a hardware store or other type of store to get something you forgot before your open house you can search for store locations near you.

Bonus Apps Realtors may also Appreciate

Find My iPhone

This app is handy for tracking down which house you left your iPad or iPhone in and disabling it until you can reunite with your beloved Apple product.  You can remotely erase the device should it’s departure become permanent.  There are also some sneaky parental uses for it too.

Netflix

You’re stuck at an Open House and it’s completely dead.  What are you going to do?  Paperwork?  Stare at the fireplace?  Heck no!  Watch reruns of Arrested Development on Netflix or some HGTV home show that makes selling a home look easy.  That will help pass the time.

Facebook, Twitter, LinkedIn, Google+

Most agents swear to the value of social media.  I just swear at it.  Now you can have it with you everywhere you go.  Your friends and followers will love having a record of your every thought and whim.  With these apps you’ll be able to tweet and post about all your successful open houses and listings every minute of every day until your friends and followers flee.  Just think, you’ll never miss a stupid cat picture ever again and you’ll be in the know about all the time-wasting activities your circle of friends are doing in real time while sharing yours with them.

Trapster

With all the distractions of paper shuffling, talking with clients and pointing out houses to your clients, who can concentrate on driving?  I’ve been in many a near-death experience as a passenger in a Realtor’s car.  Seems like an app that points out all the speed traps and camera lights would be a good companion for the distracted agent.
Most of these apps are available for both iPhones and iPads.  Most are free and the highest priced app is $5.00 so download them all.
Do you have any favorite apps that you use for real estate and how did they help you become a successful real estate agent?  Please share them with us and let us know how you use them.
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Source: AgentHarvest Blog - Continue Reading --- http://www.agentharvest.com/blog/top-5-real-estate-apps-for-the-apple-iphone-and-apple-ipad/

Monday, February 4, 2013

Setting S.M.A.R.T. Goals


When you set goals, remember to make them S.M.A.R.T.  Specific, Measurable, Attainable, Relevant and Time bound.

Sunday, January 6, 2013

First Time Home Buyer Grant




There is a terrific grant available for first time home buyers.  This grant will give a home buyer up to $5,000 to use towards down payment, closing and prepaid costs.  There is no repayment required.  Act fast as there is only $15,000,000 available. Our team has requested $108,000 in grant money so far.  There is plenty of money left.  So, as you start the New Year, look through your pipeline to see if you have any clients that could take advantage of this awesome opportunity!

  • First time home buyer (cannot have owned a home in the past 3 years)
  • No income requirements
  • Purchasing a single-family/one-unit, owner occupied, primary residence.
  • No lien or repayment required
  • No sales price limit
  • Funds can be used for closing costs, prepaids, and down payment.
  • Grants for non-military homebuyers are $3,000.
  • Grants for active military and veterans are $5,000.
  • Neither grant can exceed 25% of the purchase price.
  • These grant funds may be used with any loan type except 203K loans and may combined with MSHDA’s Down Payment Assistance.