If 70% of all real estate business comes from referrals, do you have a referral plan in place?
Even the successful REALTOR® may not know exactly how they get referrals from their data base list, they just happen. Imagine how many referrals one might get if they actually had a plan in place.
With today's market conditions, if you have no set plan for referrals (which of course come from customer relationships) your data base will begin to diminish.
I am seeing long-term REALTORS® who were successful without nurturing customer relationships actually leaving the business. Why? Because in a shrinking market those REALTORS® that are growing their business are taking the business away from other REALTORS® and from their data base of customers.
There are probably REALTORS® in your office that are doing better this year than last year, that have ignored the doomsayers and have plans in place to create more referral business. Not only are they doing well now, but when the markets begin to stabalize and grow again, they will become MEGA REALTORS®.
I see the industry changing drastically with the boom that will come in time. The REALTORS® that are survivors in the business will be fewer in numbers, and they will have become experts in marketing, data base cultivation, and a reliable source (go-to-person) by their clients for a multitude of lifestyle considerations.
This post is a quote from my latest eBOOK "Hints for Becoming a MEGA REALTOR®"
It can be found at www.mktgusa.com in the book store.
Arnie
arnie@mktgusa.com or arnie@a-gmarketing.com Cell (317) 489-5337
Friday, October 29, 2010
Saturday, April 3, 2010
The Debate About Shadow Inventory Continues
The Debate About Shadow Inventory Continues
April 2, 2010 Betty Jung
So where are all the listings of houses in foreclosure a.k.a. shadow inventory?
There’s been a lot of debate throughout last year and into 2010 about whether or not there even is shadow inventory, and whether or not it will be coming on the market. Some say if banks were to put that inventory on the market, those properties would only continue to drive prices down, thereby decreasing the bottom line of the banks.
I read this account just the other day as to what shadow inventory actually is or is being defined as:
Definition 1 – Foreclosed but not listed. Some analysts say the “shadow inventory”are the homes which the bank has foreclosed on but not sold. These are homes that are not on the market but owned by the bank (REOs not listed on the market).
Definition 2 – Homes in the foreclosure process as well as delinquent mortgages where foreclosure proceedings are imminent.
Definition 3 – All homes delinquent, short sales not on the market, REOs not on the market, and anything in the foreclosure process.
Definition 4 – All of the above plus modified loans (as they have a large percentage of failing anyway, pay option-arms about to be reset, and lots sitting idle with builders in trouble.
The Wall Street Journal says no one has found a way to track precisely how many of those properties are owned by banks. Yet, HousingPredictor.com says there are still 6 million properties considered part of the “shadow inventory. They also report that in the last three years, over 7 million properties have already been seized by banks in foreclosure. Experts say it will take another 5 years for all the excess shadow inventory, when it hits the market, to be absorbed.
The bottom line is no one really knows what the numbers are or when/if they will come on the market for sale.
Information courtesy of Betty Jung ... http://bettyjung.wordpress.com/
April 2, 2010 Betty Jung
So where are all the listings of houses in foreclosure a.k.a. shadow inventory?
There’s been a lot of debate throughout last year and into 2010 about whether or not there even is shadow inventory, and whether or not it will be coming on the market. Some say if banks were to put that inventory on the market, those properties would only continue to drive prices down, thereby decreasing the bottom line of the banks.
I read this account just the other day as to what shadow inventory actually is or is being defined as:
Definition 1 – Foreclosed but not listed. Some analysts say the “shadow inventory”are the homes which the bank has foreclosed on but not sold. These are homes that are not on the market but owned by the bank (REOs not listed on the market).
Definition 2 – Homes in the foreclosure process as well as delinquent mortgages where foreclosure proceedings are imminent.
Definition 3 – All homes delinquent, short sales not on the market, REOs not on the market, and anything in the foreclosure process.
Definition 4 – All of the above plus modified loans (as they have a large percentage of failing anyway, pay option-arms about to be reset, and lots sitting idle with builders in trouble.
The Wall Street Journal says no one has found a way to track precisely how many of those properties are owned by banks. Yet, HousingPredictor.com says there are still 6 million properties considered part of the “shadow inventory. They also report that in the last three years, over 7 million properties have already been seized by banks in foreclosure. Experts say it will take another 5 years for all the excess shadow inventory, when it hits the market, to be absorbed.
The bottom line is no one really knows what the numbers are or when/if they will come on the market for sale.
Information courtesy of Betty Jung ... http://bettyjung.wordpress.com/
Tuesday, March 30, 2010
Customer Retention... Referrals
Roy Chitwood in his article, Key to Retaining Customers, states, “The key to retaining your customers in actuality is not very complicated. In fact, it can be quite simple:
Customers come to you when they have problems and needs. To both serve them well and keep them coming back, you have to provide better solutions than do your competitors.”
One executive describes customer loyalty; he says, “Correctly mining your customer database will create a means to acquire new clients over time. A system to creatively mine your customer database, providing “Treats” along the way is a sure way of creating and maintaining a successful business.”
Loyalty marketing is the management process of identifying “best customers” and utilizing customer data and insight to create, retain and grow profitable relationships.
Best customers are those who are the most commercially valuable – they bring the most profit.
Also important are those whose characteristics suggest that they have the potential to become categorized as best customers.
Keeping a client year after year is attaining customer loyalty that involves fitting together several pieces of the relationship puzzle.
There is a science to understanding client loyalty, to recognizing the value of loyal clients, plus creating and maintaining loyal clients. We will cover the basics of client loyalty and teach you ways to create more loyal clients than ever before in your business. I have found to create a successful customer loyalty strategy and action plan, one must first understand the numerous factors that determine the level of loyalty by customers.
First we will define Customer Loyalty and begin on a trip regarding the growth of Customer Loyalty. The purpose of the information is to review the make-up and use of Customer Loyalty.
Arnie Goldberg, quotes from book "Give Your Dog A Treat" www.giveyourdogatreat.com
Customers come to you when they have problems and needs. To both serve them well and keep them coming back, you have to provide better solutions than do your competitors.”
One executive describes customer loyalty; he says, “Correctly mining your customer database will create a means to acquire new clients over time. A system to creatively mine your customer database, providing “Treats” along the way is a sure way of creating and maintaining a successful business.”
Loyalty marketing is the management process of identifying “best customers” and utilizing customer data and insight to create, retain and grow profitable relationships.
Best customers are those who are the most commercially valuable – they bring the most profit.
Also important are those whose characteristics suggest that they have the potential to become categorized as best customers.
Keeping a client year after year is attaining customer loyalty that involves fitting together several pieces of the relationship puzzle.
There is a science to understanding client loyalty, to recognizing the value of loyal clients, plus creating and maintaining loyal clients. We will cover the basics of client loyalty and teach you ways to create more loyal clients than ever before in your business. I have found to create a successful customer loyalty strategy and action plan, one must first understand the numerous factors that determine the level of loyalty by customers.
First we will define Customer Loyalty and begin on a trip regarding the growth of Customer Loyalty. The purpose of the information is to review the make-up and use of Customer Loyalty.
Arnie Goldberg, quotes from book "Give Your Dog A Treat" www.giveyourdogatreat.com
Four Rules of Business Expansion
Four Rules of Business Expansion
Published on Wednesday, March 3, 2010, 7:48 AM Last Update: 2 week(s) ago by Dirk Zeller
Category: All Articles » Business Management
Rule #1 – Protect what you have currently
The easiest and fastest way to growth in your business is to protect what you currently have.
The National Association of Realtors® has done many studies over the years about our clients and the satisfaction and retention levels of both Buyers and Sellers. The numbers are really quite shocking. In a survey conducted over a series of years, 69% of people were satisfied with their Agent’s service. When they checked back with this test group, they found out that only 24% of the people who conducted another real estate transaction did so with their previous Agent. We only produced a 69% average of satisfied clients, which is about a C- grade. We then only got 24% of the total to even do business with us again – another 45-percentage point drop. Those numbers are really terrible.
What that says boldly to one is that we don’t protect what we currently have very well; that too many of us are sending out trash and trinkets in hopes of those leading to referrals and long-term relationships with our past clients and sphere. It is obviously not working!
Rule #2 – Improve your market penetration with your target market or the people you already work with.
Once we protect them, we need to expand our reach in our target market.
You also can convince your clients to invest in real estate; to do more deals with the people you currently do business with by getting their friends and relatives to work with you. Ramping up your referrals is a Rule #2 activity.
Rule #3 – Expanding horizontally in your core business area.
For the majority, your core business area is residential real estate. Whatever you generate 80% of your commission dollars from is your core business.
When you expand horizontally, you open up another section of your business or a new lead source but still remain in residential real estate. You could begin to work builders; market to condos, multiplexes, investment property, FSBOs, or expireds; or establish a new farm area.
Rule #4 – Change and create vertical expansion.
To expand vertically would be to move to a similar, complimentary business that is structured like the real estate business or has ties to the real estate business. This rule allows you to take what you learned in real estate or use the contacts you have in real estate and build an additional business and revenue stream.
The most common occurrence for Agents in this area is to open a real estate brokerage office and recruit Agents to work for them. You could also create a mortgage company, title company, escrow company, branch off into land development, building homes, or investment real estate. I have even heard of Agents becoming or forming a business partnership with a property and casualty insurance provider.
If you have data based well and communicated with your past clients and sphere frequently you certainly have the option of servicing them with other financial needs, as well.
Dirk Zeller is a sought out speaker, celebrated author and CEO of Real Estate Champions. His company trains more than 350,000 Agents worldwide each year through live events, online training, self-study programs, and newsletters.
Published on Wednesday, March 3, 2010, 7:48 AM Last Update: 2 week(s) ago by Dirk Zeller
Category: All Articles » Business Management
Rule #1 – Protect what you have currently
The easiest and fastest way to growth in your business is to protect what you currently have.
The National Association of Realtors® has done many studies over the years about our clients and the satisfaction and retention levels of both Buyers and Sellers. The numbers are really quite shocking. In a survey conducted over a series of years, 69% of people were satisfied with their Agent’s service. When they checked back with this test group, they found out that only 24% of the people who conducted another real estate transaction did so with their previous Agent. We only produced a 69% average of satisfied clients, which is about a C- grade. We then only got 24% of the total to even do business with us again – another 45-percentage point drop. Those numbers are really terrible.
What that says boldly to one is that we don’t protect what we currently have very well; that too many of us are sending out trash and trinkets in hopes of those leading to referrals and long-term relationships with our past clients and sphere. It is obviously not working!
Rule #2 – Improve your market penetration with your target market or the people you already work with.
Once we protect them, we need to expand our reach in our target market.
You also can convince your clients to invest in real estate; to do more deals with the people you currently do business with by getting their friends and relatives to work with you. Ramping up your referrals is a Rule #2 activity.
Rule #3 – Expanding horizontally in your core business area.
For the majority, your core business area is residential real estate. Whatever you generate 80% of your commission dollars from is your core business.
When you expand horizontally, you open up another section of your business or a new lead source but still remain in residential real estate. You could begin to work builders; market to condos, multiplexes, investment property, FSBOs, or expireds; or establish a new farm area.
Rule #4 – Change and create vertical expansion.
To expand vertically would be to move to a similar, complimentary business that is structured like the real estate business or has ties to the real estate business. This rule allows you to take what you learned in real estate or use the contacts you have in real estate and build an additional business and revenue stream.
The most common occurrence for Agents in this area is to open a real estate brokerage office and recruit Agents to work for them. You could also create a mortgage company, title company, escrow company, branch off into land development, building homes, or investment real estate. I have even heard of Agents becoming or forming a business partnership with a property and casualty insurance provider.
If you have data based well and communicated with your past clients and sphere frequently you certainly have the option of servicing them with other financial needs, as well.
Dirk Zeller is a sought out speaker, celebrated author and CEO of Real Estate Champions. His company trains more than 350,000 Agents worldwide each year through live events, online training, self-study programs, and newsletters.
So Many Behind In Mortgages ..
In response to the overwhelming amount of requests for marketing and collateral materials for our clients for short sales and foreclosure properties I began to a little deep digging into what is clearly one of the fastest growing segments and designation in the real estate industry of all times.
What did I learn? Most surprisingly, that the current national average statistic is that one in seven homeowners are not currently paying their mortgage. One in seven! What wasn’t surprising to me after more than twenty years in this business is the how so many talented real estate professionals are rising up with a passion to help protect and serve these distressed property owners with a unparalleled compassion.
To learn more about why so many agents are stepping up and stepping into this often challenging, but from what I’ve learned, altogether rewarding niche market, I tapped Alex Charfen, CEO of CDPE, or the Certified Distressed Property Expert program, a designation that has grown to 15,000 agents in just 23 months. I also enlisted the insight of Stacy Spickes of ShortSalesSolutions.biz, an industry expert who, along with her husband Michael, produce training programs across the nation. Look for their new Lifetime Television Series, piloting soon called Solutions for Homeowners Facing Foreclosure.
It was interesting to note that both Alex and Stacy share similar stories. Both fell into the business of short sales with spouses by their sides, as a need to better care for customers who were in need and a way to meet the demands and challenges of a declining market. Alex and his wife introduced CDPE less than two years ago and are currently seeing the demand grow weekly for additional training, tools and practical advice for agents eager to acquire the skills they need to work in this niche.
Stacy and her husband come from the Austin area which, of course, saw the technology boom – and later bust, and grew their training program from that experience of being in the trenches trying to help facilitate options for so many of their clients that found themselves upside down on their mortgages. I asked them both a series of questions to see if I could get some common perspectives to share with agents interested in jumping into this complicated market segment. Here is an excerpt of our conversations:
Question: Why do you believe that mastering the right training and tools are so critical when working with distressed homeowners in today’s market?
Alex Charfen: What we’ve found was that there were a lot of real estate agents out there working without a net or without prior training and skills. What they have to come to realize is that we’re no longer just talking about helping people buy and sell property; we’re dealing with their financial future of these consumers. Agents have to understand that the rules keep changing, and that there are right and wrong ways to help. Even the most well-intentioned agent, if they’re not properly trained can give the wrong message or advice to a consumer and cause long-term financial hurt.
I just read that Bank of America alone is taking 100,000 phone calls a day from homeowners in distress. That tells us that the bandwidth is just too constrained for these lenders to push all the paperwork through. That’s why agents have to really be on their game, and know how to put together the right packages for the right lenders to increase the success rate, not only for themselves, but certainly for that homeowner.
I’ll give you some stats from a survey we did of 9,000 of our CDPE experts. We tracked the time it took to process a short sale before training at 54 days, and after 27 days. That’s a 50% reduction in time it takes to get a short sale approved – and it’s all because you know the language necessary to get it through the lender. It’s no magic bullet – but understanding the process, what the lender is looking for and the language that needs to be spoken.
Stacy Spickes: First of all, these are very specialized transactions. In fact, what we found nationwide when we started developing our training was that the closing ratio for short sales was averaging less than 20%. That’s where you were hearing, and still hear, those horror stories of people still sitting on short sales for 15-18 months. The agents that go through our training program average an 89-91% closing ratio.
Now, we always say there’s nothing magic about it, but what closes that gap and makes that possible is that we know the kind of information a REALTOR needs to know to get the deal closed. I mean there are a lot of agents out there taking these listings and just don’t know what they don’t know. Their hearts are in the right place – they want to help – but unfortunately a lot of people are finding themselves in foreclosure at the hands of a REALTOR who just didn’t know what they didn’t know.
In our programs, we focus on the practical nuts and bolts substantive information agents must have to get the transaction closed and help save that homeowner from foreclosure. Components such as “Short Sale Math,” which is where we show them how to calculate exactly what the lenders have to net on each short sale so they know ahead of time and don’t submit packages that contribute to an already log-jammed system. It’s also important to make sure they itemized checklists so they don’t submit incomplete packages that are certain to sit in limbo indefinitely.
Question: How are your students finding their short sale prospects or better yet, how are these distressed consumers finding them in time?
Alex Charfen: One in seven homeowners are currently not making their mortgage payments, so there are plenty of them out there, it’s a matter of spreading the word and letting people know that there is help. More often than not, consumers don’t even realize that there are very real options available to them, and the fear and anxiety of the situation take over.
Many of our students use direct mail, which has been very effective, and advertising in both newspaper and the community newsletters that you see. Our best advice to agents is to tell them that they absolutely must engage with the people they know. We tell them to talk to their sphere. Let them know that you can help with distressed properties. Plus when you start with your sphere, there is already a built-in trust factor, and that’s critical when you’re talking about people in this situation. Postcards, calls, ads, homeowner seminars are all effective ways of communicating. Even if that person isn’t in trouble, chances are, they know someone who is and it’s a great comfort to know that someone has the ability to help.
When you understand that 70% of the people who lose their home to foreclosure are never listed with an agent you realize that there are just a lot of people who need a lot of answers and not getting them.
Stacy Spickes: Well, in so many regions where of the country you’ll find 50% of the listings are short sales just because they were the hardest hit markets. In other areas, we’re finding new agents are spinning some of their marketing such as utilizing direct mail postcards and choosing neighborhoods that have a higher turnover than normal.
Agent-to-agent referrals are big as well which certainly wasn’t the case three or four years ago, so it’s a reflection of the industry really coming together, which is great to see. It’s a realization by agents ill equipped to deal with the ramifications of giving the wrong advice now aligning themselves with other agents with those who can better handle them and serve the consumer. Two years ago we’d see agents with zero experience trying to put these together with sometimes devastating results for the seller. Now, in the last 18 months we are really seeing agents rise to the occasion and create a powerful referral network.
It’s really not hard to find them, what’s really important is to help them find you so that you can be the advocate they need.
Question: What’s your best advice for agents considering becoming a short sale specialist or Certified Distressed Property Expert?
Alex Charfen: My advice is that you must. When you look at what’s going on in this country, more and more homeowners are not making it and this is an industry trend that is not going to go away. Our courses provide the extensive, hands-on training you need to best service the homeowner and ensure a win-win for everyone involved.
Stacy Spickes: I think 2010 will see a significant emergence of agents who will have to choose this field to survive. Those agents who used to believe this will go away will no longer be able support that belief. I believe that of the now less than 1.4 million REALTORS out there, I would be very surprised if we didn’t see at least 5-10% choose this niche and those that will make it, will do so because they got the training and tools they need to do the best possible job for their customers.
Many thanks to both Alex and Stacy for their insight, ideas and expertise! If you want to learn more about how to become an expert in this growing field and how you can help those one in seven homeowners who need you, I invite you to visit their websites today at www.CDPE.com and www.ShortSaleSolutions.biz. Alex can be reached at 800-482-0335 and Stacy at 888-699-9222.
Published on Monday, January 4, 2010, 7:13 AM Last Update: 2 month(s) ago by Julie Escobar
Category: All Articles » REO's and Foreclosures
What did I learn? Most surprisingly, that the current national average statistic is that one in seven homeowners are not currently paying their mortgage. One in seven! What wasn’t surprising to me after more than twenty years in this business is the how so many talented real estate professionals are rising up with a passion to help protect and serve these distressed property owners with a unparalleled compassion.
To learn more about why so many agents are stepping up and stepping into this often challenging, but from what I’ve learned, altogether rewarding niche market, I tapped Alex Charfen, CEO of CDPE, or the Certified Distressed Property Expert program, a designation that has grown to 15,000 agents in just 23 months. I also enlisted the insight of Stacy Spickes of ShortSalesSolutions.biz, an industry expert who, along with her husband Michael, produce training programs across the nation. Look for their new Lifetime Television Series, piloting soon called Solutions for Homeowners Facing Foreclosure.
It was interesting to note that both Alex and Stacy share similar stories. Both fell into the business of short sales with spouses by their sides, as a need to better care for customers who were in need and a way to meet the demands and challenges of a declining market. Alex and his wife introduced CDPE less than two years ago and are currently seeing the demand grow weekly for additional training, tools and practical advice for agents eager to acquire the skills they need to work in this niche.
Stacy and her husband come from the Austin area which, of course, saw the technology boom – and later bust, and grew their training program from that experience of being in the trenches trying to help facilitate options for so many of their clients that found themselves upside down on their mortgages. I asked them both a series of questions to see if I could get some common perspectives to share with agents interested in jumping into this complicated market segment. Here is an excerpt of our conversations:
Question: Why do you believe that mastering the right training and tools are so critical when working with distressed homeowners in today’s market?
Alex Charfen: What we’ve found was that there were a lot of real estate agents out there working without a net or without prior training and skills. What they have to come to realize is that we’re no longer just talking about helping people buy and sell property; we’re dealing with their financial future of these consumers. Agents have to understand that the rules keep changing, and that there are right and wrong ways to help. Even the most well-intentioned agent, if they’re not properly trained can give the wrong message or advice to a consumer and cause long-term financial hurt.
I just read that Bank of America alone is taking 100,000 phone calls a day from homeowners in distress. That tells us that the bandwidth is just too constrained for these lenders to push all the paperwork through. That’s why agents have to really be on their game, and know how to put together the right packages for the right lenders to increase the success rate, not only for themselves, but certainly for that homeowner.
I’ll give you some stats from a survey we did of 9,000 of our CDPE experts. We tracked the time it took to process a short sale before training at 54 days, and after 27 days. That’s a 50% reduction in time it takes to get a short sale approved – and it’s all because you know the language necessary to get it through the lender. It’s no magic bullet – but understanding the process, what the lender is looking for and the language that needs to be spoken.
Stacy Spickes: First of all, these are very specialized transactions. In fact, what we found nationwide when we started developing our training was that the closing ratio for short sales was averaging less than 20%. That’s where you were hearing, and still hear, those horror stories of people still sitting on short sales for 15-18 months. The agents that go through our training program average an 89-91% closing ratio.
Now, we always say there’s nothing magic about it, but what closes that gap and makes that possible is that we know the kind of information a REALTOR needs to know to get the deal closed. I mean there are a lot of agents out there taking these listings and just don’t know what they don’t know. Their hearts are in the right place – they want to help – but unfortunately a lot of people are finding themselves in foreclosure at the hands of a REALTOR who just didn’t know what they didn’t know.
In our programs, we focus on the practical nuts and bolts substantive information agents must have to get the transaction closed and help save that homeowner from foreclosure. Components such as “Short Sale Math,” which is where we show them how to calculate exactly what the lenders have to net on each short sale so they know ahead of time and don’t submit packages that contribute to an already log-jammed system. It’s also important to make sure they itemized checklists so they don’t submit incomplete packages that are certain to sit in limbo indefinitely.
Question: How are your students finding their short sale prospects or better yet, how are these distressed consumers finding them in time?
Alex Charfen: One in seven homeowners are currently not making their mortgage payments, so there are plenty of them out there, it’s a matter of spreading the word and letting people know that there is help. More often than not, consumers don’t even realize that there are very real options available to them, and the fear and anxiety of the situation take over.
Many of our students use direct mail, which has been very effective, and advertising in both newspaper and the community newsletters that you see. Our best advice to agents is to tell them that they absolutely must engage with the people they know. We tell them to talk to their sphere. Let them know that you can help with distressed properties. Plus when you start with your sphere, there is already a built-in trust factor, and that’s critical when you’re talking about people in this situation. Postcards, calls, ads, homeowner seminars are all effective ways of communicating. Even if that person isn’t in trouble, chances are, they know someone who is and it’s a great comfort to know that someone has the ability to help.
When you understand that 70% of the people who lose their home to foreclosure are never listed with an agent you realize that there are just a lot of people who need a lot of answers and not getting them.
Stacy Spickes: Well, in so many regions where of the country you’ll find 50% of the listings are short sales just because they were the hardest hit markets. In other areas, we’re finding new agents are spinning some of their marketing such as utilizing direct mail postcards and choosing neighborhoods that have a higher turnover than normal.
Agent-to-agent referrals are big as well which certainly wasn’t the case three or four years ago, so it’s a reflection of the industry really coming together, which is great to see. It’s a realization by agents ill equipped to deal with the ramifications of giving the wrong advice now aligning themselves with other agents with those who can better handle them and serve the consumer. Two years ago we’d see agents with zero experience trying to put these together with sometimes devastating results for the seller. Now, in the last 18 months we are really seeing agents rise to the occasion and create a powerful referral network.
It’s really not hard to find them, what’s really important is to help them find you so that you can be the advocate they need.
Question: What’s your best advice for agents considering becoming a short sale specialist or Certified Distressed Property Expert?
Alex Charfen: My advice is that you must. When you look at what’s going on in this country, more and more homeowners are not making it and this is an industry trend that is not going to go away. Our courses provide the extensive, hands-on training you need to best service the homeowner and ensure a win-win for everyone involved.
Stacy Spickes: I think 2010 will see a significant emergence of agents who will have to choose this field to survive. Those agents who used to believe this will go away will no longer be able support that belief. I believe that of the now less than 1.4 million REALTORS out there, I would be very surprised if we didn’t see at least 5-10% choose this niche and those that will make it, will do so because they got the training and tools they need to do the best possible job for their customers.
Many thanks to both Alex and Stacy for their insight, ideas and expertise! If you want to learn more about how to become an expert in this growing field and how you can help those one in seven homeowners who need you, I invite you to visit their websites today at www.CDPE.com and www.ShortSaleSolutions.biz. Alex can be reached at 800-482-0335 and Stacy at 888-699-9222.
Published on Monday, January 4, 2010, 7:13 AM Last Update: 2 month(s) ago by Julie Escobar
Category: All Articles » REO's and Foreclosures
Thanks to Brandon Brittingham .. Short Sales Info
In a lot of short sales there can be a “taxable gain” on the sale. That’s right your client lost money, and owes the IRS money, it goes on their tax return as income!. I didn’t make that rule that is just how it is. Even in some rare special cases, there can be tax liability on a principal residence. In almost every situation there is a taxable gain on secondary, investment properties. In secondary, primary, and investment homes, there are also cases where there is no liability that is why this is such an important step. You cannot do any short without this, as this factor could prevent the short sale from even taking place. As agents it is not our job to interpret tax code or law, but not disclosing to the client, or giving them the advice to see an qualified professional could make you lose your license.
2. Tax law when it comes to short sales can be very complicated. As a real estate agent we cannot give any type of tax advice and there are a lot of short sales that you will run into that the seller may have IRS tax liability. How can you represent them without knowing the ramifications? Guess what if? If they have a tax liability and you did not give them the advice to go see a qualified accountant, the liability can fall on you. Don’t think so? I was just called in on a short sale case as a short sale expert where the seller sold his house, got a $50,000 taxable gain on his income and because the real estate agent did not disclose that he could possibly have a gain or to refer him to a accountant, he lost his license and got sued in the process. If the clients do have tax ramifications, how can they make the right decision without knowing where they will end up?
3. A CPA can also look at the client’s full financial picture, and if the client has other assets, the CPA can guide the client on protecting the asset. In cases where the clients may have liability, the CPA can determine if the client is insolvent or not, which could make them eligible for no liability. Believe me the IRS’s definition of insolvent is extremely complicated, and not something you want to try and attempt to figure out, leave it to a professional in that field. This can seriously help you down the line in the short sale process, as you will have a picture painted to help the client get what is need for their best interest.
4. IRS tax law changes on a frequent basis and as real estate agents we are not supposed to interpret tax law or try to interpret it for our clients. By doing this you can open yourself up to a serious amount of liability down the road. It is a CPA’s job to be versed on all the tax codes and law. A lot of you may not know this, but there are a few very complex scenarios that can occur with a short sale and tax liability. Even though with my short sale experience I am aware of these scenarios I do not try to give advice to clients, I send them to the CPA for the advice.
These are absolute imperative steps before you go into the short sale process. Skipping these can leave you open to serious liability or even land you in court or lose your license.
Published on Monday, March 8, 2010, 12:54 PM Last Update: 18 hour(s) ago by Brandon Brittingham
2. Tax law when it comes to short sales can be very complicated. As a real estate agent we cannot give any type of tax advice and there are a lot of short sales that you will run into that the seller may have IRS tax liability. How can you represent them without knowing the ramifications? Guess what if? If they have a tax liability and you did not give them the advice to go see a qualified accountant, the liability can fall on you. Don’t think so? I was just called in on a short sale case as a short sale expert where the seller sold his house, got a $50,000 taxable gain on his income and because the real estate agent did not disclose that he could possibly have a gain or to refer him to a accountant, he lost his license and got sued in the process. If the clients do have tax ramifications, how can they make the right decision without knowing where they will end up?
3. A CPA can also look at the client’s full financial picture, and if the client has other assets, the CPA can guide the client on protecting the asset. In cases where the clients may have liability, the CPA can determine if the client is insolvent or not, which could make them eligible for no liability. Believe me the IRS’s definition of insolvent is extremely complicated, and not something you want to try and attempt to figure out, leave it to a professional in that field. This can seriously help you down the line in the short sale process, as you will have a picture painted to help the client get what is need for their best interest.
4. IRS tax law changes on a frequent basis and as real estate agents we are not supposed to interpret tax law or try to interpret it for our clients. By doing this you can open yourself up to a serious amount of liability down the road. It is a CPA’s job to be versed on all the tax codes and law. A lot of you may not know this, but there are a few very complex scenarios that can occur with a short sale and tax liability. Even though with my short sale experience I am aware of these scenarios I do not try to give advice to clients, I send them to the CPA for the advice.
These are absolute imperative steps before you go into the short sale process. Skipping these can leave you open to serious liability or even land you in court or lose your license.
Published on Monday, March 8, 2010, 12:54 PM Last Update: 18 hour(s) ago by Brandon Brittingham
Monday, March 22, 2010
HOW MANY ARE IN THE MARKET TO BUY A HOME?
Have you ever been in a group of people and asked... "How many of you are in the market to purchase or sell a home, or know someone who is in the market?"
Have you ever been in a group of people and asked... "How many of you are in the market to purchase or sell a home, or know someone who is in the market?"
What was the response? I can imagine most of the time the there are blank stares and very little positive response. In a group of ten or fifteen people I would think the percentages of finding someone interested in moving is nil.
There are true loyalty marketing systems with the new technology that can build your referral business to a point that you will never have to ask the above question ever again.
Why not ask this, “How many have family and friends that could use a system of purchase discounts and offers that can save them money and it is free access?”
Loyalty marketing is used by high powered corporations to grow their business. The airlines like American Airlines years ago started an air miles for free flights program, Target created discount programs for existing customers, Amazon added free shipping all as loyalty marketing programs for existing customers. Huge amounts of capital have been re-directed from advertising programs aimed at the whole public to create new customers, to programs directed to existing customers to create advocates and word of mouth growth.
REALTORS® have a challenge to create these type of word of mouth advocates because the nature of the industry of few transactions with seven to ten years between purchases. REALTORS® also have a challenge because they do not have large capital dollars to create loyalty marketing programs.
Outsourced programs are available to help create loyal customers that grow your referral business. These programs are available at low cost, yet provide substantial savings for customers and prospects in their everyday lives.
www.loyaltybuilder.com
Arnie Goldberg
agoldberg@loyaltybuilder.com
317-489-5337
Have you ever been in a group of people and asked... "How many of you are in the market to purchase or sell a home, or know someone who is in the market?"
What was the response? I can imagine most of the time the there are blank stares and very little positive response. In a group of ten or fifteen people I would think the percentages of finding someone interested in moving is nil.
There are true loyalty marketing systems with the new technology that can build your referral business to a point that you will never have to ask the above question ever again.
Why not ask this, “How many have family and friends that could use a system of purchase discounts and offers that can save them money and it is free access?”
Loyalty marketing is used by high powered corporations to grow their business. The airlines like American Airlines years ago started an air miles for free flights program, Target created discount programs for existing customers, Amazon added free shipping all as loyalty marketing programs for existing customers. Huge amounts of capital have been re-directed from advertising programs aimed at the whole public to create new customers, to programs directed to existing customers to create advocates and word of mouth growth.
REALTORS® have a challenge to create these type of word of mouth advocates because the nature of the industry of few transactions with seven to ten years between purchases. REALTORS® also have a challenge because they do not have large capital dollars to create loyalty marketing programs.
Outsourced programs are available to help create loyal customers that grow your referral business. These programs are available at low cost, yet provide substantial savings for customers and prospects in their everyday lives.
www.loyaltybuilder.com
Arnie Goldberg
agoldberg@loyaltybuilder.com
317-489-5337
Wednesday, March 3, 2010
HOME STAGING
WHAT IS HOME STAGING?
Charlene Storozuk – Owner of Dezigner Digz™
Home staging, also known as real estate staging, is the art of transforming a home into a sought-after property that will stand out amongst the competing comparable listings in that area. In a lot of cases, this does not have to come at great expense to the homeowner. Many times a professional home stager can bring about a dramatic makeover with minimal cash layout which in turn, results in the homeowner realizing a higher net profit.
Home staging is much more than just cleaning and de-cluttering. It involves being able to distinguish the positives and negatives in a home and knowing what to do to accentuate those positives. Keep in mind though, that a reputable home stager will never try to disguise flaws in a home. That is unethical.
Can I stage my own home?
A professional home stager will be able to look at your home in an unbiased manner and see things that are in need of change that you, the homeowner, may not notice. It is difficult for a homeowner to be impartial as they are invested in the property.
Is home staging expensive?
There is a misconception among some people that home staging is expensive. This could not be farther from the truth. Sometimes the most dramatic differences to a room are achieved by simply re-arranging the furniture and changing the paint colour. A professional home stager is able to see the potential in your home and will achieve its best look, while at the same time, doing so for the least amount of money to you. After all, the less spent on home staging (when done correctly), the more money in your pocket.
I thought this was a good informational piece on Home Staging.
Arnie
agoldberg@loyaltybuilder.com
Charlene Storozuk – Owner of Dezigner Digz™
Home staging, also known as real estate staging, is the art of transforming a home into a sought-after property that will stand out amongst the competing comparable listings in that area. In a lot of cases, this does not have to come at great expense to the homeowner. Many times a professional home stager can bring about a dramatic makeover with minimal cash layout which in turn, results in the homeowner realizing a higher net profit.
Home staging is much more than just cleaning and de-cluttering. It involves being able to distinguish the positives and negatives in a home and knowing what to do to accentuate those positives. Keep in mind though, that a reputable home stager will never try to disguise flaws in a home. That is unethical.
Can I stage my own home?
A professional home stager will be able to look at your home in an unbiased manner and see things that are in need of change that you, the homeowner, may not notice. It is difficult for a homeowner to be impartial as they are invested in the property.
Is home staging expensive?
There is a misconception among some people that home staging is expensive. This could not be farther from the truth. Sometimes the most dramatic differences to a room are achieved by simply re-arranging the furniture and changing the paint colour. A professional home stager is able to see the potential in your home and will achieve its best look, while at the same time, doing so for the least amount of money to you. After all, the less spent on home staging (when done correctly), the more money in your pocket.
I thought this was a good informational piece on Home Staging.
Arnie
agoldberg@loyaltybuilder.com
Monday, March 1, 2010
WHY LOYALTY MARKETING?
Why loyalty marketing? Because the overwhelming majority of real estate transactions come from referrals, you need a marketing strategy that not only retains existing clients, but gets them to recommend you to others more often.
Loyalty marketing is a process that identifies best customers by retaining and growing profitable relationships. Your most profitable customers not only transact with you, but also refer new business opportunities to you.
Most successful companies that deal with consumers have robust and capital intensive loyalty marketing programs -- because THEY WORK!
American Airlines years ago offered a loyalty rewards program and other airlines followed them. Credit card companies came with rewards programs. In recent years Target decided to take a major share of their advertising budget and give it back to their existing customers. They determined it was more effective and less costly to do loyalty marketing to existing customers than try to convert the whole buying public.
Rewards Programs and many loyalty activities are transactional based -- "purchase this" and "get this" -- these are reactive
Loyalty Marketing is relationship focused and pro-active rather than re-active
Let's use as an example a REALTOR® with a data base of 250 and they actually know 50 people well. The question becomes, how many of even the 50 are willing to talk about the REALTOR®? Those are the ones you need to engage and cultivate relationships with, and need to move others of the 200 into those that will "carry your banner."
You need a loyalty marketing solution that identifies those customers and cultivates your relationship with them.
Arnie Goldberg, VP Loyalty Builder, LLC agoldberg@loyaltybuilder.com
Loyalty marketing is a process that identifies best customers by retaining and growing profitable relationships. Your most profitable customers not only transact with you, but also refer new business opportunities to you.
Most successful companies that deal with consumers have robust and capital intensive loyalty marketing programs -- because THEY WORK!
American Airlines years ago offered a loyalty rewards program and other airlines followed them. Credit card companies came with rewards programs. In recent years Target decided to take a major share of their advertising budget and give it back to their existing customers. They determined it was more effective and less costly to do loyalty marketing to existing customers than try to convert the whole buying public.
Rewards Programs and many loyalty activities are transactional based -- "purchase this" and "get this" -- these are reactive
Loyalty Marketing is relationship focused and pro-active rather than re-active
Let's use as an example a REALTOR® with a data base of 250 and they actually know 50 people well. The question becomes, how many of even the 50 are willing to talk about the REALTOR®? Those are the ones you need to engage and cultivate relationships with, and need to move others of the 200 into those that will "carry your banner."
You need a loyalty marketing solution that identifies those customers and cultivates your relationship with them.
Arnie Goldberg, VP Loyalty Builder, LLC agoldberg@loyaltybuilder.com
Friday, February 12, 2010
Actions For Improving Credit
RISMEDIA, December 7, 2009—Christine Van Tuyl and Margaret La Grange, team with Prudential California Realty in Coronado, have compiled their latest list,
Top Tips to Improve your Credit
1. Review your current credit report for accuracy. Everyone is entitled to one free credit report per year from each of the three credit bureaus—Experian, Equifax, and TransUnion. Get a copy of your credit report and look at it for accuracy. First, make sure that the information in your file is about you and only you, not someone who has a similar name or a similar Social Security number. It is very common for your credit reports to have mistakes or incorrect information. At a minimum, make sure that the information you are being evaluated on is current and correct.
2. Repair credit report mistakes. If you find something on your credit report that is incorrect or missing, you should dispute the mistake by contacting the credit bureaus directly. All credit bureaus have their dispute procedures on their website. They are also required by law to investigate any disputed items and these investigations will usually be done within 30 days of your request.
3. Pay your bills on time. Sounds like a no-brainer, right? Payment history accounts for roughly 35% of your credit score. Paying bills on time is the most important thing to do. If you’re struggling to catch up, contact your creditors to work out a payment schedule.
4. Increase the length of your credit history. This accounts for about 15% of your score. Don’t cancel your old card or get a lot of new ones in a short time span because this can hurt your score.
5. Keep credit card balances low. It’s a good idea to keep the balances below 25% of your available credit. Even if you pay off your credit cards every month, a high average balance will impact your score. This accounts for about 30% of your credit score.
6. Keep new credit requests to a minimum. This accounts for 10% of your score. Every time a lender runs your credit, an inquiry is recorded. If you are trying to get a loan, don’t apply for new credit cards first.
7. Be aware that paying off a collection account will not remove it from your credit report. It will stay on your report for seven years.
8. Pay off debt rather than moving it around. The most effective way to improve your credit score in this area is by paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.
9. Beware credit-repair scams. By all means, don’t pay someone to wipe away the negative items in your file. If they don’t follow through, the damaging items will reappear in two or three months.
Please keep in mind that Christine Van Tuyl and Margaret La Grange are real estate agents, not mortgage lenders. For more information on how your credit score will impact your loan and interest rate, please contact your mortgage lender.
Thanks to Christine Van Tuyl and Margaret La Grange
Arnie Goldberg agoldberg@loyaltybuilder.com 317-569-0422
Top Tips to Improve your Credit
1. Review your current credit report for accuracy. Everyone is entitled to one free credit report per year from each of the three credit bureaus—Experian, Equifax, and TransUnion. Get a copy of your credit report and look at it for accuracy. First, make sure that the information in your file is about you and only you, not someone who has a similar name or a similar Social Security number. It is very common for your credit reports to have mistakes or incorrect information. At a minimum, make sure that the information you are being evaluated on is current and correct.
2. Repair credit report mistakes. If you find something on your credit report that is incorrect or missing, you should dispute the mistake by contacting the credit bureaus directly. All credit bureaus have their dispute procedures on their website. They are also required by law to investigate any disputed items and these investigations will usually be done within 30 days of your request.
3. Pay your bills on time. Sounds like a no-brainer, right? Payment history accounts for roughly 35% of your credit score. Paying bills on time is the most important thing to do. If you’re struggling to catch up, contact your creditors to work out a payment schedule.
4. Increase the length of your credit history. This accounts for about 15% of your score. Don’t cancel your old card or get a lot of new ones in a short time span because this can hurt your score.
5. Keep credit card balances low. It’s a good idea to keep the balances below 25% of your available credit. Even if you pay off your credit cards every month, a high average balance will impact your score. This accounts for about 30% of your credit score.
6. Keep new credit requests to a minimum. This accounts for 10% of your score. Every time a lender runs your credit, an inquiry is recorded. If you are trying to get a loan, don’t apply for new credit cards first.
7. Be aware that paying off a collection account will not remove it from your credit report. It will stay on your report for seven years.
8. Pay off debt rather than moving it around. The most effective way to improve your credit score in this area is by paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.
9. Beware credit-repair scams. By all means, don’t pay someone to wipe away the negative items in your file. If they don’t follow through, the damaging items will reappear in two or three months.
Please keep in mind that Christine Van Tuyl and Margaret La Grange are real estate agents, not mortgage lenders. For more information on how your credit score will impact your loan and interest rate, please contact your mortgage lender.
Thanks to Christine Van Tuyl and Margaret La Grange
Arnie Goldberg agoldberg@loyaltybuilder.com 317-569-0422
Friday, January 22, 2010
Your Business Approach To Social Media
Americans tripled the amount of time they spent on social networking sites in 2009 and these sites now account for 17% of all time spent on the Internet (from a survey)
There are more than 350,000,000 Facebook users, half of whom log in at least once per day. The average user spends 55 minutes per day on Facebook.2
The average household income of LinkedIn users is $107,278
According to the 2008 National Association of Realtors Profile of Home Buyers and Sellers, the Internet is the leading source of information used in a home search (87%) while traditional avenues, like newspapers and home magazines, are used less than half of the time. With the Internet being used by the vast majority of buyers, it is critical that realtors are online and engaging with potential customers on a regular basis.
Which Social Media Is Right For You and Your Business
* Research them, including local platforms like one called Smaller Indiana
* Develop a Plan … just like any other Marketing or Customer Loyalty Plan
* Social Media is not the answer to all of your business, but can be a huge enhancement
* Think Value… how can you value your audience, and include posts that others might like… in other words, think of your audience, not necessarily what you want or like
Step One – The Profile
* People are interested in more than name and business, thus you should include the most professional and personal oriented information
* Build a complete professional resume on LinkedIn … include references and a history of your career paths, with lots of rich content that could be of interest
* Include places worked, and education, memberships, special hobbies and/or pastimes
* Include any areas of particular expertise
Your Audience
* Insert posts and information others would be interested in
* Vary your posts to create interest
* Post articles that might be helpful to others regarding health, finance, government,
sports, children, schools, neighborhoods, etc.
* Maybe even post a comical youtube item on your facebook page
* Try to stay neutral regarding politics or gear your political ideas to only people with the same right or left tendencies
* Remember not to offend anyone out there, it could multiply itself to others
* Be Polite .. Cordiality is a winner … say Thanks often
* Send individual posts when appropriate
Learn From Others
* Visit other’s pages and posts, profiles etc
* Gain from their successes
* Why re-invent the wheel? But always give credit when using someone else’s information
* If everything is about you, people will see right through it…
Selling on Social Media
* Remember social media is for creating contacts and building relationships, not for selling
* Never directly try to sell anything – you will turn people off and once you lose them, they rarely come back
* Remember you do not like to be solicited so why treat others that way
* No one purchases or deals with another person unless they trust that person or company
* Social media can and does create trust if used correctly
* Realtors should rarely post listings or properties for sale only on the listing type sights or in special close-nit groups you might establish that would be interested in listings
Share Valuable or Fun Information
* Comical items or quotes (clean ones only) can be a nice change of pace
* News articles or quotes from news articles can be valuable to readers
* Possibly a short video of interest on different subjects might be enjoyed by viewers
* Local news and/or television shows of interest are helpful
* National news subjects are always of interest
* Disaster relief and other emotional items can be of interest of course
* Highlight local or national businesses and maybe include good experiences with customer service
Include In Your Plan
* I normally visit other profiles and other people’s pages a couple times a week
* Remember life in general thus being active in social media is a learning process and you can learn from others out there in social media
Consistency
* Social media, if you want it be a successful business tool, must be viewed and acted upon in a very consistent manner.
* Here today and gone tomorrow does not work
* If you ask a question, respond to replies
* If you are going to use social media everyday that is fine, or three times a week that is also fine. But whatever time you devote, be consistent and show an interest in others
Arnie Goldberg VP Loyalty Builder, LLC agoldberg@loyaltbuilder.com
There are more than 350,000,000 Facebook users, half of whom log in at least once per day. The average user spends 55 minutes per day on Facebook.2
The average household income of LinkedIn users is $107,278
According to the 2008 National Association of Realtors Profile of Home Buyers and Sellers, the Internet is the leading source of information used in a home search (87%) while traditional avenues, like newspapers and home magazines, are used less than half of the time. With the Internet being used by the vast majority of buyers, it is critical that realtors are online and engaging with potential customers on a regular basis.
Which Social Media Is Right For You and Your Business
* Research them, including local platforms like one called Smaller Indiana
* Develop a Plan … just like any other Marketing or Customer Loyalty Plan
* Social Media is not the answer to all of your business, but can be a huge enhancement
* Think Value… how can you value your audience, and include posts that others might like… in other words, think of your audience, not necessarily what you want or like
Step One – The Profile
* People are interested in more than name and business, thus you should include the most professional and personal oriented information
* Build a complete professional resume on LinkedIn … include references and a history of your career paths, with lots of rich content that could be of interest
* Include places worked, and education, memberships, special hobbies and/or pastimes
* Include any areas of particular expertise
Your Audience
* Insert posts and information others would be interested in
* Vary your posts to create interest
* Post articles that might be helpful to others regarding health, finance, government,
sports, children, schools, neighborhoods, etc.
* Maybe even post a comical youtube item on your facebook page
* Try to stay neutral regarding politics or gear your political ideas to only people with the same right or left tendencies
* Remember not to offend anyone out there, it could multiply itself to others
* Be Polite .. Cordiality is a winner … say Thanks often
* Send individual posts when appropriate
Learn From Others
* Visit other’s pages and posts, profiles etc
* Gain from their successes
* Why re-invent the wheel? But always give credit when using someone else’s information
* If everything is about you, people will see right through it…
Selling on Social Media
* Remember social media is for creating contacts and building relationships, not for selling
* Never directly try to sell anything – you will turn people off and once you lose them, they rarely come back
* Remember you do not like to be solicited so why treat others that way
* No one purchases or deals with another person unless they trust that person or company
* Social media can and does create trust if used correctly
* Realtors should rarely post listings or properties for sale only on the listing type sights or in special close-nit groups you might establish that would be interested in listings
Share Valuable or Fun Information
* Comical items or quotes (clean ones only) can be a nice change of pace
* News articles or quotes from news articles can be valuable to readers
* Possibly a short video of interest on different subjects might be enjoyed by viewers
* Local news and/or television shows of interest are helpful
* National news subjects are always of interest
* Disaster relief and other emotional items can be of interest of course
* Highlight local or national businesses and maybe include good experiences with customer service
Include In Your Plan
* I normally visit other profiles and other people’s pages a couple times a week
* Remember life in general thus being active in social media is a learning process and you can learn from others out there in social media
Consistency
* Social media, if you want it be a successful business tool, must be viewed and acted upon in a very consistent manner.
* Here today and gone tomorrow does not work
* If you ask a question, respond to replies
* If you are going to use social media everyday that is fine, or three times a week that is also fine. But whatever time you devote, be consistent and show an interest in others
Arnie Goldberg VP Loyalty Builder, LLC agoldberg@loyaltbuilder.com
Saturday, January 16, 2010
Indoor Air Quality Concerns?
By Angela Epps
Air purifiers can help.
They reduce air-born bacteria from mold, fungi and household chemicals found in many cleaners used in day-to-day house cleaning. These pollutants in your home’s air can aggravate asthma, allergies, and sinus problems, especially if your household has children or seniors. The EPA (Environmental Protection Association) estimates that the air inside your home can be up to ten times more polluted than the air outside the house. Along with reducing air-born bacteria, many air purifiers remove irritants such as pet dander, pollen, smoke, and dust (less house cleaning!) from your home’s air and make the air smell cleaner by noticeably reducing odors. Which air purifier is right for you?
When considering using an air purifier in your home, make sure that you check the purifier’s CADR (Clean Air Delivery Rate). The CADR is not tested by the company manufacturing the air purifier but by an independent laboratory based on three different particles. Smoke, pollen and dust are released into a room and the ratings are based on how long the air purifier takes to clean the surrounding air. Basically, the larger the room in your home, the higher the CADR rating has to be for it to clean the air in the whole space and for you to receive the health benefits of using it.
Air purifiers don’t help with everything.
It is important to know that most air purifiers, unless you buy an expensive industrial one, do not remove gases such as carbon monoxide or radon from your home’s air. Your house should have separate devices that test for these health risks.
Air purifiers can help.
They reduce air-born bacteria from mold, fungi and household chemicals found in many cleaners used in day-to-day house cleaning. These pollutants in your home’s air can aggravate asthma, allergies, and sinus problems, especially if your household has children or seniors. The EPA (Environmental Protection Association) estimates that the air inside your home can be up to ten times more polluted than the air outside the house. Along with reducing air-born bacteria, many air purifiers remove irritants such as pet dander, pollen, smoke, and dust (less house cleaning!) from your home’s air and make the air smell cleaner by noticeably reducing odors. Which air purifier is right for you?
When considering using an air purifier in your home, make sure that you check the purifier’s CADR (Clean Air Delivery Rate). The CADR is not tested by the company manufacturing the air purifier but by an independent laboratory based on three different particles. Smoke, pollen and dust are released into a room and the ratings are based on how long the air purifier takes to clean the surrounding air. Basically, the larger the room in your home, the higher the CADR rating has to be for it to clean the air in the whole space and for you to receive the health benefits of using it.
Air purifiers don’t help with everything.
It is important to know that most air purifiers, unless you buy an expensive industrial one, do not remove gases such as carbon monoxide or radon from your home’s air. Your house should have separate devices that test for these health risks.
Selling Your Home
By Sally Aquire
Setting the right price is crucial when selling your home. If you overestimate the value of your house, you risk alienating potential buyers who will not be able to afford to buy it. On the other hand, pricing your house at far less than it is worth can leave potential buyers wondering whether it has hidden problems. Having your house professionally valued can help you to set a fair price, but what happens if this price is not fetching any buyers? At this point, homeowners often toy with the idea of lowering their asking price to clinch a sale. However, some homeowners would be better off waiting for the difficult market to ride itself out, especially if the house in question is desirable in terms of size, location and amenities.
Selling Seasons
The selling season in which you first put your house up for sale can have an impact on how long it takes to sell. The housing market typically starts to warm up during the winter months and reaches a first 'peak' from April through to June. After the summer passes, the selling season tends to slow down again until a second 'peak' begins from September to Thanksgiving. Between Thanksgiving and New Year, the housing market slows down again.
Listing your house during one of the 'peak' selling seasons is a good way to ensure that it will receive as much interest as possible from potential buyers.
Standing Your Ground
In a difficult market, houses can take up to a year to sell as the number of sellers is greater than the number of potential buyers. In this situation, it is often unrealistic to expect a quick sale, so try not to panic if your house does not sell quickly after first going on the market. If your house is in a location 'hot spot' or is particularly desirable, it makes little sense to lower your price, as this type of house is likely to attract plenty of interest from potential buyers unless it is grossly overpriced.
Cutting Your Losses
If your house has been on the market for a year or more without a sale, it is probably time to lower the price. As some time has passed since it was put on the market, you may need to take a significant hit on the asking price to interest potential buyers. This is obviously not ideal, but it may be the only way to clinch a sale if you have been unable to secure a sale at the current asking price.
Many buyers look upon price reductions as an indication that you have admitted defeat on the previous asking price, and will often come in with an offer that is below the new asking price. In this situation, you need to decide whether you can afford to accept the reduced offer or whether you are prepared to wait for a different offer. The latter can be a risky gamble as a higher offer will not necessarily be forthcoming, especially in a difficult market.
Setting the right price is crucial when selling your home. If you overestimate the value of your house, you risk alienating potential buyers who will not be able to afford to buy it. On the other hand, pricing your house at far less than it is worth can leave potential buyers wondering whether it has hidden problems. Having your house professionally valued can help you to set a fair price, but what happens if this price is not fetching any buyers? At this point, homeowners often toy with the idea of lowering their asking price to clinch a sale. However, some homeowners would be better off waiting for the difficult market to ride itself out, especially if the house in question is desirable in terms of size, location and amenities.
Selling Seasons
The selling season in which you first put your house up for sale can have an impact on how long it takes to sell. The housing market typically starts to warm up during the winter months and reaches a first 'peak' from April through to June. After the summer passes, the selling season tends to slow down again until a second 'peak' begins from September to Thanksgiving. Between Thanksgiving and New Year, the housing market slows down again.
Listing your house during one of the 'peak' selling seasons is a good way to ensure that it will receive as much interest as possible from potential buyers.
Standing Your Ground
In a difficult market, houses can take up to a year to sell as the number of sellers is greater than the number of potential buyers. In this situation, it is often unrealistic to expect a quick sale, so try not to panic if your house does not sell quickly after first going on the market. If your house is in a location 'hot spot' or is particularly desirable, it makes little sense to lower your price, as this type of house is likely to attract plenty of interest from potential buyers unless it is grossly overpriced.
Cutting Your Losses
If your house has been on the market for a year or more without a sale, it is probably time to lower the price. As some time has passed since it was put on the market, you may need to take a significant hit on the asking price to interest potential buyers. This is obviously not ideal, but it may be the only way to clinch a sale if you have been unable to secure a sale at the current asking price.
Many buyers look upon price reductions as an indication that you have admitted defeat on the previous asking price, and will often come in with an offer that is below the new asking price. In this situation, you need to decide whether you can afford to accept the reduced offer or whether you are prepared to wait for a different offer. The latter can be a risky gamble as a higher offer will not necessarily be forthcoming, especially in a difficult market.
Friday, January 8, 2010
GREATEST BUSINESS RISK TODAY - LOSS OF EXISTING CUSTOMERS
We are finding the greatest risk in today’s business is the loss of existing customers. And we all have known the best opportunity for growing sales is through your existing customers... would you agree?
You must know who are your core customers and find out which satisfied customers can become loyal customers. There is a big difference between satisfied and loyal.
Nothing beats meeting a loyal customer for breakfast, lunch or a cup of coffee. Second is picking up the phone and talking for a few minutes with your grade A customers. Third and just as important is a consistent way to create value added benefits and consulting services for customers to differentiate you from those trying to erode your customer base.
But first you must know your customers well enough to know which are "core loyal customers" and which could be "cultivated" to become core loyal customers. How do you accomplish that? "DEEPER" KNOWLEDGE OF YOUR CUSTOMERS BEYOND THE "OUTER SHELL"
Your customers do not always want to hear about real estate! In fact most of the time you they do not have any interest in real estate. You must trigger their work-life interests, home-life interests and lifestyle interests.
There are companies that offer services and or programs to help you accomplish just that. Seek them out and find companies that specialize in customer relationships.
Arnie Goldberg .. Loyalty Builder, LLC ... agoldberg@loyaltybuilder.com
Saturday, January 2, 2010
Loyal Customers - How Many Do You Have?
We are finding the greatest risk in today’s business is the loss of existing customers. And we all have known the best opportunity for growing sales is through your existing customers
The key is to discern who are your core customers and find out which satisfied customers can become loyal customers. There is a big difference between satisfied and loyal.
• Nothing beats meeting a loyal customer for breakfast, lunch or a cup of coffee.
• Second is picking up the phone and talking for a few minutes with your top flight customers.
• Third and just as important is a consistent way to create value added benefits and consulting services for customers to differentiate you from those trying to erode your customer base.
It is not enough to be good in today’s business climate. You need to be creative and a true consultant for your customers both new and existing. Everyone is shopping every purchase with more and more scrutiny.
You must become a resource for not just real estate but for life in general. Helping a customer replace a washer and dryer, helping them with green initiatives, or even giving a customer a business lead can help you differentiate yourself from the daily tumult.
Follow through is critical. So you must engage, act and consistently communicate in helpful ways.
Arnie Goldberg, Co-Founder VP, Loyalty Builder, LLC
Loyalty Builder is a relationship management and marketing firm that I believe is dramatically different from the standard industry focused firm. We are driven to generate relationships to grow your real estate business.
The key is to discern who are your core customers and find out which satisfied customers can become loyal customers. There is a big difference between satisfied and loyal.
• Nothing beats meeting a loyal customer for breakfast, lunch or a cup of coffee.
• Second is picking up the phone and talking for a few minutes with your top flight customers.
• Third and just as important is a consistent way to create value added benefits and consulting services for customers to differentiate you from those trying to erode your customer base.
It is not enough to be good in today’s business climate. You need to be creative and a true consultant for your customers both new and existing. Everyone is shopping every purchase with more and more scrutiny.
You must become a resource for not just real estate but for life in general. Helping a customer replace a washer and dryer, helping them with green initiatives, or even giving a customer a business lead can help you differentiate yourself from the daily tumult.
Follow through is critical. So you must engage, act and consistently communicate in helpful ways.
Arnie Goldberg, Co-Founder VP, Loyalty Builder, LLC
Loyalty Builder is a relationship management and marketing firm that I believe is dramatically different from the standard industry focused firm. We are driven to generate relationships to grow your real estate business.
Friday, January 1, 2010
TEAMWORK LEADS TO GOOD CUSTOMER EXPERIENCES
I believe one step owners and managers can take to help their agents is to bring three top notch (world class) mortgage brokers into their office (one at a time) for a very detailed interview.
Let's face it, closings depend upon teamwork between an agent and a mortgage person.. Why not be proactive to find the very best mortgage people in your area to work with your agents... Let them compete for the business, but also create some loyalty with them. Often they have different specialties that are critical in getting deals to the closing table.
Good teamwork is not just closing the deal, but making sure the experience is topnotch and it takes coordinated effort to accomplish that. Good communication amongst the team and the client is crucial. Remember the attitude has to be "what is best for the client."
Arnie Goldberg, VP Loyalty Builder, LLC agoldberg@loyaltybuilder.com
Let's face it, closings depend upon teamwork between an agent and a mortgage person.. Why not be proactive to find the very best mortgage people in your area to work with your agents... Let them compete for the business, but also create some loyalty with them. Often they have different specialties that are critical in getting deals to the closing table.
Good teamwork is not just closing the deal, but making sure the experience is topnotch and it takes coordinated effort to accomplish that. Good communication amongst the team and the client is crucial. Remember the attitude has to be "what is best for the client."
Arnie Goldberg, VP Loyalty Builder, LLC agoldberg@loyaltybuilder.com
Janet Guilbault Article - OPPORTUNITY 2010
This is the best description of business employee attitude I have seen. Of course this is not all companies, like USAA, and Nordstrom where customer service is world class.
Quoted by Janet Guilbault:
In the so called "new economy" of 2009, business strategy revolved around this miserable mindset:
1. Let's fire everyone we can, cut the pay of those left (they're lucky to have a job, after all), then try to operate normally with one third of the staff.
2. Let customers figure it out. Send them to our website.
3. Let customers wait on hold forever or go straight to voice mail jail.
4. Let customers wait in line.
5. Let customers stand at the front desk and ring a bell if they expect service. We fired our receptionist months ago.
6. Heaven forbid we should pay anybody to talk to anybody! If they need support they can e-mail us.
7. Why should we be friendly or nice? We're in a recession after all.
8. Let's make our product worse to save money. Half the size, half the warranty, half the quality. No one will notice. If they do it will be too late.
9. Let's cut our hours, close locations, and turn down the heat.
10. If we absolutely need to hire someone, let's hire a part time employee, pay no health insurance, no benefits, and give them no training
---------------------------------------------------------------------------------
YOU CAN BUILD AND ATTRACT MORE BUSINESS BY THE FOLLOWING ACTIONS
Again quoted by Janet Guilbault
Simply make these resolutions:
1. I will grant customers the ability to talk to ME (not to my voicemail and not to my e-mail)
2. I will call them before they call me.
3. I will have live, face to face meetings with my customers whenever I can (what a concept!)
4. I will remember that a crabby customer needs my sympathy more than anything else.
5. I will go out of my way to show I genuinely care by asking directly what the customer wants and needs.
6. More than anything, I will cause my customers to believe they matter, and they are important.
7. I will never allow my customers to know I am feeling crabby, overworked, or underpaid.
8. I would rather have fewer customers that are lavished with attention than many customers who get no service, or poor service.
9. In a world where service is getting worse, mine will get better.
10. I will know my stuff.
Quoted by Janet Guilbault:
In the so called "new economy" of 2009, business strategy revolved around this miserable mindset:
1. Let's fire everyone we can, cut the pay of those left (they're lucky to have a job, after all), then try to operate normally with one third of the staff.
2. Let customers figure it out. Send them to our website.
3. Let customers wait on hold forever or go straight to voice mail jail.
4. Let customers wait in line.
5. Let customers stand at the front desk and ring a bell if they expect service. We fired our receptionist months ago.
6. Heaven forbid we should pay anybody to talk to anybody! If they need support they can e-mail us.
7. Why should we be friendly or nice? We're in a recession after all.
8. Let's make our product worse to save money. Half the size, half the warranty, half the quality. No one will notice. If they do it will be too late.
9. Let's cut our hours, close locations, and turn down the heat.
10. If we absolutely need to hire someone, let's hire a part time employee, pay no health insurance, no benefits, and give them no training
---------------------------------------------------------------------------------
YOU CAN BUILD AND ATTRACT MORE BUSINESS BY THE FOLLOWING ACTIONS
Again quoted by Janet Guilbault
Simply make these resolutions:
1. I will grant customers the ability to talk to ME (not to my voicemail and not to my e-mail)
2. I will call them before they call me.
3. I will have live, face to face meetings with my customers whenever I can (what a concept!)
4. I will remember that a crabby customer needs my sympathy more than anything else.
5. I will go out of my way to show I genuinely care by asking directly what the customer wants and needs.
6. More than anything, I will cause my customers to believe they matter, and they are important.
7. I will never allow my customers to know I am feeling crabby, overworked, or underpaid.
8. I would rather have fewer customers that are lavished with attention than many customers who get no service, or poor service.
9. In a world where service is getting worse, mine will get better.
10. I will know my stuff.
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