I’m looking for clever prospecting ideas, and I want to hear from you. What’s your best marketing strategy for reaching out to new customers? Do you sponsor an event to lure buyers and sellers, or maybe you have a creative giveaway that you send clients to stay top-of-mind? How do you gain more clients through your marketing?
Some of the best ideas submitted will be featured in an upcoming slideshow at REALTOR® Magazine online.
Submit your clever prospecting idea to Melissa Dittmann Tracey at email@example.com, along with information about your prospecting idea, your name, company, and city.
By Dave Robison
How many times have your clients or friends asked you about your crystal ball? My clients ask me all the time. It’s almost daily you hear, “If I buy this house, how much do you think it will appreciate in the next 2 years, or 5 years?” or “How much more money will I make on my house if I wait a year to sell it?” Practitioners need a new core course to renew our licenses titled, “Gypsy 101,” or “Palm Reading 201.” Or you can just read this blog entry and you can become pretty good at being psychic. There are two parts in being psychic right now to know what is happening with the market: know how to price listings, and to know what to tell your clients.
First, you must follow the rules. In 2006 when the market was booming in Utah, there were numerous people that came to me and asked, “Should I buy this home? All I have to do is use my credit and flip it the next day.”
Many of you now are thinking, that’s common sense. But then it wasn’t. It was very enticing, someone’s friend just made $100,000 doing one flip supposedly. I asked 2 questions. Continue reading »
By Dave Robison
A short sale would have you think it’s going to be a quick and short closing. The problem is they all have too much Junk in the Trunk. In a race, their tail end is dragging along the ground, which makes the vehicle go about as slow as my kid in a wagon.
Here are two examples of what is going wrong and what you can do about it.
First case involves Aurora. We submit an offer in to the bank on our listing from a buyer. It goes 60 days or so before we get a negotiator from the bank. In the meantime a couple comes in with an offer for higher than what the current offer is. Aurora approves a sale price and we should be good to go right? Wrong!
The bank will only take the offer they reviewed. You can’t switch it out for a higher offer. If you do, you have to cancel the offer, resubmit another offer and guess what …. wait another 60 days for a negotiator. Too much junk in the trunk! All of these policies in their trunk are making the banks lose even more money.
Second case involves Fannie Mae. Banks appraisal at $230,000. FannieMae wouldn’t accept less than $270,000. Really? That’s right, Fannie Mae won’t take anything less than $270,000 when the purchaser owes $255,000. That is just plain silly that they think a buyer is going to come up with $40,000 more than what it appraises for.
This home got foreclosed on. Today, it is on the market for the same price it could have sold for 8 months ago. They could have cut their losses 8 months ago but now their cut is getting deeper and deeper.
Third case from various lenders. They approve the short sale but want the seller to sign a note for the difference. The sellers are going into bankruptcy. This doesn’t make any sense. If they could make payments for the difference, they would rent it out and make payments for the difference.
I have three deals right now with different banks that the banks want a note and the buyer won’t sign. The buyers attorney said don’t do it. We are doing bankruptcy.
Submit you video to the challenge: The 2009 REALTOR Party Video Contest challenges REALTORs to make a short, personal video explaining how the Home Buyer Tax Credit has helped their clients buy their first home.
The contest runs until Sept. 30.
The winning entry will receive a $500 American Express gift card and be shown at the Annual Convention in San Diego in November.
Two runners-up will receive Flip UltraHD Camcorders.
YPN members: If you plan on attending the 2009 REALTOR® Conference & Expo in San Diego this November, consider participating in the Habitat for Humanity build. This will be the first “green” Habitat project.
Only 80 people can participate in the Nov. 11 event. Sign up to volunteer online at www.realtor.org/conference.
The Greater Nashville Association of REALTORS® launched their new YPN chapter with a wine tasting event on July 16 at Sunset Grill. About 75 young professionals turned out for the networking event. View the photos below!
Get your YPN chapter’s events featured on the YPN Lounge blog! Send in your photos and write a blog post about your event to share with our YPN community. Please send to firstname.lastname@example.org (subject line: “YPN Lounge: Chapter Event”).
By Julie Cain Cwynar
Have you ever asked yourself if commercial real estate may be for you? Not sure where to start or where to go for answers? The “Discovering Commercial Real Estate” course is an excellent place to begin! After taking the course, I feel as though I’ve just had an in-depth conversation with an experienced commercial broker who has described what I need to do to begin in the commercial arena.
Below are a number of interesting points I have taken from the course:
- Commercial real estate requires a long-term, singularly-focused commitment. Practicing both residential and commercial real estate will only lengthen the process of achieving success in the commercial arena.