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The Power of a Brand.

What is the importance of building a brand?

Brand Equity is the difference between what a branded item can charge over what an unbranded item can charge.

A product can be manufactured. A Brand is what the customer buys.

A product can be duplicated. A Brand is unique.

Think of it this way, when a person buys a brand, they aren't buying the product (which can be duplicated) they are buying the guarantee of quality that the brand provides.

A brand becomes successful when it owns a catagorie, or mind share.

Mind Share is brand awareness or popularity with the customers. Examples: Google, Band Aid, Coke, Xerox, FedEx. All posses such strong mind share that they have become verbs. People Google instead of do an Internet search. They put a Band Aid on an open wound (instead of adhesive bandage) and they Xerox things instead of making copies. All are strong brands.

To build a brand you have to create trust. Not just trust that you are some highley moral or ethical business (which does help), but trust that your product is going to be the same in quality and service every time the customer buys it. A "brand name" keeps them from guessing whether it is going to work or not.

Can a person be a brand. Absolutely.

Donal Trump is a brand. He has become synonymous with wealth and a high standard of living that he is now able to sell his name as a brand. Donald doesn't write all those books with his name on it, he loans his name to the author, who is willing to pay because he knows people will buy the book based on the Don's name. He doesn't own Trump Towers. He gets $5 million per each letter of his name on the building. Wouldn't that be nice?

My favorite brand is Dave Ramsey. He built a business off of practical advice. He has a radio and t.v. show, book deal, licenses his educational material and does speaking tours. But one profit center most people do not think of when they think of Dave is his Endorsed Local Providers (ELP's). He gets a referral fee from each client he sends his ELP's, which are all over the country and in many different industries. And why is he able to charge a referral fee? And why do people use his ELP's? Because people trust him, and he is his brand.

So what are some steps you can take to build a brand?

1. Create Mind Share - through a name or slogan

2. Create a Logo

3. Develop and maintain a good reputation - build trust.

4. Create a brand personality

5. Communicate brand personality to target market.

This isn't an all inclusive list, but it is a good place to start. The most important is brand awareness and trust.

A good book on the subject is Al Ries's 21 Imutable Laws of Branding

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The New Face Of Real Estate In The Next Decade

It's sad but true the next decade of real estate will be entirely different than what it has been and will be for many years to come. This mess we've found ourselves in did not happen overnight and it won't go away overnight. Just yesterday I heard that a major employer in this area is laying off 1000 employees, where will these people go to work making anywhere close to what they were making with the benefits they have I don't know.

4359144855?profile=original Will they be able to pay their mortgages? Probably not unless they find a job that is equal to what they are losing and to my knowledge most of the employers are only hiring part time " temporary" workers, no benefits, no overtime and no job security. As bad as it is for real estate we stand to make money from this crisis selling short sale and foreclosure properties. The VIPS are buyers with the excellent credit history, stable jobs, money down, no home to sell and the patience of Job. Who are the agents who will weather this storm? The ones who are willing to do business a new way & re-educate themselves. Many agents who would have never dreamed of taking a Foreclosure listing will change their ways or be left behind. Agents who are not detail oriented will be attentive to the slightest detail or will be quickly out of business when faced with selling Short Sale


. Attorneys will be our buyers and sellers best friends. Buyers of Short Sales will have to be prepared to spend money up front, putting up earnest money deposits, having a home inspection done prior to lender approval,


prepared to buy "as is" in most cases, hiring an attorney, and other professionals with no guarantee of a closing. The lenders have to fine tune the Short Sale process so that the process runs smoothly in order to get these homes off the market and into new homeowners hands sooner rather than later. Short Sales make buying a Foreclosure a walk in the park but we're survivors we'll get this thing straightened out and life will go on.

Sally Morris Greenwood Realty
Greenwood SC
www.realestategreenwoodsc.com

Foreclosure/Short Sale Specialist
Specializing in Lake Greenwood Vacation & Second Homes
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****BPO Automation Product Inquiry

I am considering purchasing the BPO automation product. These products are not cheap and I am looking for some honest feedback or review. If you have purchased the product which one it was, the Auto Accept or Auto Fill? I am assuming the auto Accept is the preferred product.

Once you purchased the product did you BPO volume increase? Were the companies happy with the quality of the product and work received?

Please provide any other insights or recommendations

Thank You

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Own Your Own Real Estate Business

No I am not trying to sell you a Real Estate Franchise or existing business. What I am selling is a mind set - a paradigm shift.

How many times, when people ask you what you do for a living, you respond with "I sell Real Estate"? Really, is that all you do?

What about the response, "I run a real estate business?" Could this be more accurate?

Think about it; when was the last time you just sold a house? Aren't we also client consultants, marketing directors, advertising agents, accountant, property manager, receptionist, public and client relation specialist, tour guide, sales agent, and some times custodian? I am sure if you think about it, you could come up with plenty more job descriptions to add to this list.

The point is, your not just a sales agent. You are the Boss/CEO of a real estate business. And it is time you started acting like it.

We have to wear a lot of hats, and if there is not a strong CEO at the top managing all of these positions, than you can find your business in trouble. And I have news for you, sales agents often make poor CEO's. So stop thinking like a sales agent and start thinking like a boss.

And here is a tip for you: If you, as the boss, would fire the employee that fills any of the above positions, you may want to find some good training for them (that would be you).

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How Does The Foreclosure Freeze Impact Housing


The Optimists

Bank of America, JP Morgan Chase, Ally Financials GMAC mortgage division and PNC Financial, have all suspended home seizures in all 23 states where courts oversee foreclosures. Bank of America is halting foreclosures in all 50 states to examine its process. Past sales will stand, and if you are not already out of the house.

Eviction: you could be evicted unless the buyer was the bank, they will not evict during the freeze

Helps families: The foreclosure freeze may buy time for some families and allow them to catch up and stay in their homes which could help some families try to get back on their feet and catch up with payments.

Reduces housing supply: In the short term, the lack of new foreclosed properties coming on the market could help the housing industry by keeping supply off the market.

Better mortgage mods: If the banks cannot willy nilly foreclose on properties, they will be forced to lend a stronger hand to mortgage modifications benefiting many more people.

Writedowns: banks may finally realize that foreclosure is damaging and that loan writedowns could be taken more seriously as a less complicated option to getting inventory off the books and repairing balance sheets by making these assets whole

Short Sales: Banks may be more willing to accept a short-sale offer. If the foreclosure route is messy or even unavailable for some period,the banks may become more open to a short sale as an alternative to holding inventory.

The Pessimists

The moratoriums can be incredibly destructive to the fragile recovery of the housing and housing finance markets. Consumers looking to get back into housing are even more put off than before.

Inventory: Those freezes could delay the housing market's recovery and a moratorium would add time to the necessary process of washing out all that surplus inventory.

Price stability: It will be difficult for prices to stabilize as long as a large number of homes remain in the foreclosure pipeline. They are likely to hold off to see whether more supply would lower prices even more, leading to further house price declines.

Crime and disrepair: if some properties are not taken off the market and are allowed to be abandoned they can It will also create more crime since communities will have vacant homes sitting empty for longer periods of time

A freeze in sales: The title insurance protects the bank that issuing a new mortgage. Title insurance searches for problems with title and assures or insures that the propertry is free and clear and can be sold. No title insurance, no new mortgage and no foreclosure sale. Title Insurance payouts could be enormous.

The banks will pull it: Fannie & Freddie stand to lose billions and will take the banks to court to recoup.

Sales slow significantly: If title insurance companies start to shy away from insuring foreclosed properties because of unexpected claims, the housing market could take another hit. Sales could be hampered by difficulty in getting title insurance, at or by higher fees associated with higher risk assessment.

Related Articles
Deficiency Judgments: Did You Know?
Fannie Mae: First Look Gives Home Buyers An Edge
Banks to allow local groups to buy foreclosures

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A $20 BPO, Really?

Bpo's have never been a big part of my business, but I have done 4-10 a month for the last year. For the first 9 months I only had orders from one Asset Management Company who can assign listings and one who assigned, but does not give out listings. They paid ok, but mostly I enjoyed doing them for the incredible education I received. Also, the Valuations analyst in the company that does assign listings are really nice!!!! Last summer I started getting orders from some other companies, which come as broadcast blasts. Since I enjoyed doing it for the other companies, and at that time had some extra time, I accepted some of these broadcast orders. It was a nightmare! They were so much harder, took hours longer to complete, did not really teach me more about valuing a home in this market, and did not pay as well as original company. I have gotten much busier this fall so I stopped excepting the orders from these BPO mills and just delete them as they come in. But today I had to read the order several times because I could not believe what I saw. The BPO offer was for $20, which I wouldn't accept if it were my own house. However, the property is not my house. It is for a house in Woodside that is worth over $2,000,000. How would you feel if you had a multi million dollar asset and your bank was paying someone $20 to tell them how much it is worth. It is not a tract, it is a unique home that has no other home exactly like it.

Really? The fate of this owner's financial life is the hands of someone making about $5 an hour before expenses. That is a scary thought.

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A Correction is Coming

For many of us, we have heard commentators talking about the slow housing recovery however, if you believe a slow housing recovery is what is happening, I beg to differ.

I have been preaching now….for at least 6 months or so, hyperinflation could be coming and after what happened last week with the Federal Reserve, I am not just speculating anymore but, predicting we will enter an era of hyperinflation. Granted, several factors need to come into play but, make no mistake, the stage has been set and the players have been cast.

Last week, the Federal Reserve decided to print almost a Trillion dollars in order to buy, almost a Trillion dollars worth of Federal Debt. This is just like you, using your Brother Multi-function printer, scanner, copier to print out some money and use it to buy your own debt back from one of your creditors. Obviously, the money you printed is absolutely no good and therefore, you end up being unable to pay off your debt and in return, go bankrupt. The problem is, it’s not that easy when we are talking about national financial planning, or lack thereof.

Ultimately, when a country, like the USA, buys back our own debt we cause inflation but, that isn’t all we do. We also deflate the dollar or cause the dollar to decline against foreign currencies. In other words, inflations skyrockets and the value of your dollar drops. It’s exactly like what happened to Germany in the Weimar Republic, see wiki link http://en.wikipedia.org/wiki/Weimar_Republic

So, how does this impact real estate, you may be asking….well, let me elaborate a bit more.

You need to keep in the back of your head, the real estate bubble still hasn’t stopped bursting. We still have hundreds of thousands of homeowners on ARMs or other high risk lending packages that will be resetting for up to the next 2-4 years. If we go through a time of hyperinflation, these people will be priced out of their homes, days…..not years. We will flood the market with an unbelieveable amount of inventory or banks will be required to hold the inventory, similarly to what they are doing now voluntarily….so we are told.

Either way, the realestate market is doomed. If banks keep these toxic assets on their books and don’t have the necessary liquidity to fulfill the demands of withdrawals because all their money is tied up or even worse, they don’t have any money because they made so many bad loans…..we have a “Great” Depression…..like this country has never seen. Not to mention, since the US Dollar is the World’s reserve currency, we potentially could….and most likely will, take down most all of the World with us.

If you believe what I say is crazy talk or I have lost my mind, listen to what China and Germany have already said. http://www.reuters.com/article/idUSTRE6A12IA20101108

I am not trying to scare any of you….I am hoping and praying that you will research this for yourself and make your own conclusions and prepare yourself and families for what could happen. Yes, my family does have a “disaster” plan…….I know that may sound a bit spooky but, I have tried to live my life with a couple quotes in my mind and one of those is, “Luck favors the prepared” and, in this economy, luck can go a long way.

My point is, if the Fed continues with their Quantative Easement or Debt Monetization, this country will enter a time like none we have ever seen. The worse part of all this is, what if the people I listen to, the people I know who know much more about this stuff than I do…….what if they are right?

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When you sell or purchase a trust or probate sale, the disclosures are not the same as in a standard equity sale. The basic premise is that while the trustee or personal representative in the case of a probate does not fill out a Transfer Disclosure Statement or Seller's questionnaire, if that person knows anything about the house it needs to be disclosed.  It can go on a separate addendum but can not be hidden.  This is especially true if that person lived in the home with the person who has died, like a child, or other relative.  There are CAR forms which should be used, The Probate Advisory or the Trust Advisory,  that spell out which disclosures are exempt, and which are not.

The trustee or personal representative are exempt from filling out the TDS, Seller's supplemental or questionnaire, They do not have to sign a Natural Hazard Report or provide a Mello Roos Report. They do not need to provide smoke detectors. they do not need to provide the Hazard Booklet.

They do need to provide a Natural Hazard Report, strap the water heater, provide  a lead based paint disclosure, Data Base Disclosure, and FIRPTA.

I hope this clears it up and that you do not find anything terrible lurking behind the curtain. Please feel free to contact me if you have any questions.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

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New Mortgage Program Will Help Millions

By some authorities, An estimated 5.5 million homeowners facing imminent foreclosure. The Obama Administration has provided some immediate relief with the HEMA program. HEMA will use up to $3 billion TARP to make funds available for unemployed homeowners and those suffering financial distress. Eligibility is designed to help those who have lost their jobs or are in great financial distress for 24 months. The program will offer up to $50,000 at 0% interest for 24 months to help homeowners through difficult situations.

Requirements

1.Borrowers must have a track record of making mortgage payments on time.
2.It must be the primary residence and at risk of foreclosure.
3. Combined household income must not exceed 120% of the median income in the area.
If eligible, a homeowner makes a fractional payment to the Department of Housing and Urban Development (HUD) instead of the lender. Provided the homeowner has a reasonable probability of resuming mortgage payments, HUD will assume full payment to the lender. Once the homeowners immediate financial problems are resolved, they re-assume full responsibility for the mortgage and pay back the HUD for the temporary loan.

Funding is not available in all states, only the hardest hit and the program is funded with 1 billion now and hopefully more later, depending on the success of the program. HUD counts 32 states and Puerto Rico as recipients of the HEMA program. Borrowers must meet with their local NeighborWorks. HUD hopes to begin accepting applications by the end of the year.

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Related Articles

FHA Financing Now Available For REO Properties

Good News! MBAA New Forebearance Program

The Rental Sector Is Looking Up



Read more…
A Recent Survey
National Real Estate Investor and Marcus & Millichap

55% of all respondents to the survey believe that now is the time to buy apartments. Owners are beginning to see improvements in vacancy rates and rent rates are rising. We are coming off a low low bottom, but there is improvement. The study shows that 41% (31% in 2009) of owners responding to the survey think rent rates will improve over the next year and 70% feel that this is the time to buy.

Financing
Looking up

34% believe that institutional lenders are increasing their lending volume, 28% see an improvement in Commercial bank lenders and 19% in FHA. I wrote piece on how the FHA funding of single family homes has skewed the market. I think when reform comes to the FHA, the money allotted to rentals will be significantly higher than it has been. SEE LINK

Mixed Use Space
Risky bet

Rental property with commercial or storefront space remain risky. A two unit building with a store down is a liability in a recession. And in this one, with consumers paying down credit cards, we are seeing a spike in empty retail space. I would undervalue the benefits of storefront retail space until we see a pick up in job growth. Vacancy rates in retail spaces rose 10% in 2010, according to the survey

Rental Property
A Better bet

Morgan Stanley analysts expect housing prices to continue to slide, reaching new depths in 2012.Morgan Stanley expects 2011 home prices to fall 5% to 10% from this year with four years of flat prices after that, although the risk of slight additional downside in prices and extension of the trough to 2012, has increased. Via Housingwire

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Related Articles

Apartment Renter Demographics and What They Mean to You.

Filling The Vacancy

Tenant Screening Tips and Tricks
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Regardless of which side of the isle you subscribe to, last night was a nail biter for all of us. With Republican control over the House and a narrowing of the gap in the Senate, what can we, as Real Estate Professionals expects to see in the upcoming 2 years?

As most of us all can agree, the new Speaker of the House, John Boehener has pledged that jobs will be his primary focus. As a conservative, I would expect he would fight for reducing taxes and reducing the size of government in order to create those jobs, he has said as much more or less. So, does this plan bode well for real estate?

My first impression is absolutely. We know from history that a reduction of taxes frees up private sector capital and in return, that capital is used to grow private sector jobs. My only problem is, freeing up capital hasn’t been the problem with this economy, it’s been confidence. We here every talking head on television tell us that big business is setting on large amounts of cash but won’t invest, they won’t spend it and, most of the time it’s because they don’t know what the will be specifically, their taxes. Now, with a normal Republican, I couldn’t say I would believe taxes would be reduced however, in many of the races last night, we saw Tea Party Republicans win and I do believe these men and woman will staunchly work towards a reduction in taxes and a restriction if not a drawback of government. If the Tea Party Republicans can move an agenda of lower taxes, restricted or drawnback government, I really do believe we will see jobs start to recover however, will it be enough?

The truth about jobs is, at no time, in this country’s history (that I am aware of) were we ever able to recover millions of jobs in less than 2, 4 or 6 years. My point is, it would take an unprecedented, history making, future changing legislation supporting capitalism and individual liberty to recoup the millions of jobs we have already lost and, with a progressively controlled democratic party, who is in control of the White House and Senate, that isn’t going to happen.

So, what specifically do we need to do? I suggest we have “A Return to Normalcy”. Many of you reading this won’t know what that means but, some will, let me explain. The date was April 12, 1921 and President Harding (A GREAT PRESIDENT) laid out a plan to Congress that he called, “A Return to Normalcy”. This plan was a economic stimulus plan and it consisted of 6 key points that, are just as relevant today as they were back then.

Those key points were (in no particular order)

1. National Debt Reduction

2. Tax Reduction

3. National Budget Program (Balanced Budget Law)

4. Tariffs to protect industry and farm commodities (an end to the unfair trade practices of other countries, today it would be China)

5. Immigration restrictions (or in other words, American Citizen get American jobs, not illegal aliens)

6. Farm Relief (could now be industry relief or real estate relief)

The Roaring 20’s were an era of extreme prosperity for this country and it was a direct result of Harding’s “stimulus” program. Now granted, Harding didn’t get to see the program to fruition, it was Calvin Coolidge who stayed the course and ended up truly being able to experience the benefits of Harding’s plan but, it doesn’t diminish the fact, these 6 points transformed this country and led to an inventive, creative, unrestricted society that arguably could be considered one of the most prosperous times in our nations history.

The reality is, times have changed. Our country has become so dependent on the Federal Government to provide their paycheck, we may never be able to institute the kind of plan Harding and Coolidge did. I recently read a report that said over 46% of Americans depend on the Federal Government for the bulk of their income…..what?.....yes….I said that right. If that doesn’t scare you, it should. None the less, this country was built by men and woman who laid an incredible foundation Faith, Truth, Integrity and Personal Responsibility and as an American, it seems to me we are genetically hard wired to return to our founding father’s principals therefore, I truly expect the next to years to be volatile fight between 2 ideologies. One will be that of progressive socialism and the second will be staunch conservatism. Who wins, well….that depends on you, the voter.

With all that said, I believe real estate will be volatile for at least the next 2 years. I think we will start to see an end to foreclosure moratoriums, failed homeowner preservation programs (HAMP), and a more common sense approach to lending. I believe we will begin to see a paradigm shift back to personal responsibility and a reduction of the current REO housing inventory. I think this political climate will be beneficial for real estate simply because it will force our government to be more practical in their methods and let’s be honest, being practical is a conservative virtue, not a progressive virtue.

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Heads up for Chase REO's

We had a mandatory meeting today with the VP of Chase REO and he said they will be releasing 10,000 assets, nationwide, in the fourth quarter. He didn't have a break down of how much in specific areas. It will be through 10 servicing companies which they just cut down from 14. So keep on the lookout and good luck.
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I have a couple of REO agents in my area that are doing a disservice to the bank or asset management firm that hired them. For example, they consistently list the wrong information on the MLS, including an incorrect combo code, and are painfully unresponsive to phone calls even when we are in negotiations with a buyer. I hesitate to bring this up because I don't want to sound like a whiner or a tattle tale; however, their performance is so unacceptable that it needs to be addressed with the bank. What are your thoughts regarding taking action with the banks and how do you do this without making yourself look bad?

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What's in a Tagline

What’s your company’s tagline?


Is it simple, succinct, easy to understand, and memorable? Is it something people will be talking about for years to come? Does itproperly reflect your business, what you sell, and who you are? I could go on. Do you have answers for all of these questions?


A tagline isn’t an easy thing to come up with. The problem is how little time you have to grab a person’s attention. Taglines aren’t longand they aren’t a detailed look at the company. A tagline is often moreabout a feel than anything else. Nike’s tagline of Just Do It emphasizesaction and speed, both of which go along with sneakers.


Before even starting to brainstorm you should look at the audience you’re trying to appeal to. Obviously for Nike they focus on sports, onexercise, and on other action oriented activities. The taglinereferences not only the company and its products but also the audiencethey’re aiming for.


How well do you know your customers? Take the time to think about what it is they want out of a business like yours, and what kind offeeling they’re going for. Nike knows their audience wants action.Figure out what your customers want and how you can appeal to them.


Remember, feeling is what counts, and a tagline needs to be powerful if it’s going to work. The best taglines are five words or less, whichmeans you don’t have a lot of room to work with. Short phrases are a loteasier for people to remember, and the more concise you are the fasterthey’ll be able to understand what your company is all about.


What can you say about your company that people will latch on to and remember? What phrase just begs for people to give you their undividedattention? I’m not trying to say this is going to be even remotely easy,and only someone who intimately knows the company will be able toreally understand what feeling should go into a tagline.


How to use a tagline is just as important, too. Coming up with one may be the hardest part, but what good is it if no one sees it? Makesure when printing business cards that all of them have your tagline onit. Do you send out a lot of letters? Letterhead printing labels all ofthem. Pocket folders are another way of ensuring everything you send outconnects with your company’s tagline.


And, of course, don’t forget about printing posters to put up around your store. Everything you do should have an association with yourtagline if you’re going to get people to remember it.


Forming a perfect tagline can be one of the hardest things for any business to do. Just because they’re short, don’t let that fool you intothinking they’ll be easy to make. Writing one might be difficult, but itwill definitely pay off in the long run.


Hope this Helps,


Brian Roth/Operations Manager
503-630-6233 Office
503-867-5355 Cell
503-609-0894 24 Hour Emergency
206-888-7373 Fax
Brian's Email



Check our Website at the following: R&R Property Services, Inc.

Our Mission Statement "Preserve Our Neighborhoods for Tomorrow" and by doing so, we maintain the integrity of our communities.

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Lately, more than ever, I have been getting calls from agents who are all asking the same question and, that is, “are you working any offers on 666 Money Pitt Lane”

Well, before I tell you my typical response, I would like to share some insight and see if you agree.

Per Realtor.com,

“An agent is bound by certain legal obligations. Traditionally, these common-law obligations are to: Put the client's interests above anyone else's; Keep the client's information confidential; Obey the client's lawful instructions; Report to the client anything that would be useful; and Account to the client for any money involved.”

So, here are my questions.

1. Is it in your clients interest to reveal to other agents that you are or are not working other offers?

My argument is NO, it is not in your client’s interest to reveal that you are or are not working other offers.

Simply put, when answering the question, you don’t know the motivation behind the person who asked it. We can get into a bunch of “what if” questions but, ultimately if by answering the question the agent decides not to show the home or not put in an offer then, you just hurt your own client. Ultimately my job is to get as much for my client as possible in the shortest amount of time and that means, getting as many offers in the door as possible. I could be wrong but, I suspect that the main reason Realtors ask this question is because they want to avoid being in a multiple offer situation or they want to be in better negotiating position. I guess that’s all fine and good but, it’s not my job to make that so for another agent and their buyer.

Now, let’s flip the script a little here.

Do you think my argument is valid for bank owned properties? What about Fannie Mae properties? HUD properties?

I won’t answer that question for you, I would love to get your responses.

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I have been hearing more and more objections from my buyers about purchasing a home TODAY because they keep hearing that the market is going to decline further, so they don't want to be in a negative equity situation. In addition, they have heard that there is going to be a "mad rush" of foreclosure properties soon, so maybe they should wait...

I wanted to start this discussion in hopes that we can all help each other handle this objection so we can all be more successful!

I have been handling it this way; Well, Mr. Buyer that may happen, however, even if you waited to purchase a home that was 5% lower in price, you may end up paying more if the interest rates increase. They are bound to increase in the near future, so do you want to take that chance?

Just some thoughts and I would love to hear your opinions...

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The lack of REOs has caused turmoil in our industry. REO service providers struggling to survive during this drought. Make no mistake: Loan servicers, outsourcers, title companies, attorneys, field services companies, real estate brokers, and closing services providers are all struggling today due to lack of business volume. They are struggling to maintain their platforms, systems, employees, and capacity. I bought a franchise that has helped my survival. You will note several REO heavy hitter names involved below:

In only seven years, Sellstate has grown to become one of North America's fastest-growing real estate franchise companies, serving offices in 17 states. In addition to attracting many of the industry's mega-brokers in the default servicing sector (NRBA president Michael Krein, national REO coach/speaker Teresa Gordon, NRBA managing director Ralph Barone), thanks to a low-overhead business model that provides brokers a cost-efficient way to build assets while avoiding the hassle of administrative tasks. Sellstate's C.P. Technology is an exclusive system that reduces overhead and eliminates headaches for owners and agents by processing commissions and fees through the company's corporate office. Recruiting and retaining top agents is also made easier by the company's Agent Asset Development program, which gives agents the opportunity to earn 100-percent commission (95 percent to the transaction agent; 5 percent to the sponsoring agent). I am recruiting REO agents to assist in the distribution of large quantity REO and have the savy, manners and supportive culture to enhance my Sellstate office in Myrtle Beach. Any recommendations?

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Rules of the Road When You're Growing Your Staff

Did you know that the laws governing a business with 20 employees
are vastly different from the ones that apply to a 30-employee venture?
What you don't know can do more than hurt you-it can bring a thriving
company to its knees.

As countless American companies tiptoe toward recovery in a treacherouseconomy, it pays to be cautious. Of course, if you're considering addingemployees to your team, then you're
doing something right. Safeguard that success with the strategic use of
human resources. It's your most valuable tool in navigating re-growth,
one careful step at a time.


READING THE SIGNS


Like any key area of your business, human resources can work as a huge asset as long as you manage things properly and comply with therules and regulations
that apply. Laws vary based primarily on company size and location.


Those rules and regulations fall into four broad categories: wage and hour, time off, benefits and training. Here's a brief rundown of thekinds of
things you must include in your plans for company growth.


Wage and Hour


Anything and everything that relates to payroll-from how you pay to when you pay and how much you pay your employees-must comply withstate and federal employment laws. There are laws that govern howquickly you
must pay a terminated employee (whether voluntary or involuntary) and
how to handle paycheck errors. Cutting corners in the payroll department
can cost you a lot more than it saves. It's absolutely vital that the
management of these important aspects of your business is handled by
someone who knows the laws in your industry and locale.


Time Off


Any time off that you grant employees, including leaves of absence, vacation and sick days (and whether and how much you pay them),can be affected by a number of regulations. A variety of statutesdesigned to
protect employees' rights apply differently based on how many employees
you have.

It should go without saying that sick days, vacation time, leaves of absence and other time off must comply with the law and should begranted fairly to all eligible employees, regardless of
gender, race, age and the like.


Benefits


Every perk you provide is governed by regulation. You can't avoid the law by eliminating benefits altogether; some benefits arestatutory. Things like disability coverage, workers' compensationinsurance,
health insurance and company vehicles can open you up to serious
liability if they're managed carelessly. Ensure that every resource you
allocate is handled thoughtfully (and legally).


Training


Your company must meet applicable laws such as safety, sexual harassment, OSHA standards and other training required for your industryand in your state of operation. Requirements fluctuate with your
employee count; more on this later.


Downsizing


Just as there are compliance issues related to growth, there are regulations that go along with downsizing. Plant closures and layoffsrequire 60 days' notice. If you have large layoffs on the horizon, be
sure to review the regulations to ensure that your plans meet all
related legal requirements.


PLAYING THE NUMBERS GAME


Most employers know they must comply with the laws in their industries and locales. Many are surprised to learn that the laws aredifferent based
on the size of your company. So if you've been cruising along with 24
employees for several years and decide to hire an additional
administrative assistant to support your sales team, you'd better know
that the rules of the game have changed. Adding one more employee just
bumped you out of the smallest category and into the next level of
compliance.


Very Small Business (Fewer than 25 employees)


When you have fewer than 25 employees, you work like crazy-but chances are, you're not spending much of that time worrying aboutemployer compliance issues. That's because you have the bare minimum of
rules to live by. But when you hire a 25th worker, you may notice a few
changes.


Moderately Small Business (25 to 49 employees)


When your company expands to this level, there are a few more issues to be concerned with. Employees with addictions are entitled tocertain rehabilitation rights. Abused spouses are entitled to domesticviolence
leave to relocate, seek counseling and the like. Employees with
children are entitled to 40 hours per school year to attend their
children's school activities. These are just a few examples; other
family and military leave statutes and illiteracy programs also apply at
this level.


Small Buiness (50 to 74 employees)


Hiring your 50th employee is a big moment for any entrepreneur. The upside: You've achieved a level of success that few businessesrealize. The downside: Steering clear of regulatory mishaps can become a
full-time job. You must now maintain annual Equal Employment Opportunity
(EEO) tracking and reporting compliance; provide mandatory sexual
harassment training (SB1825); participate in affirmative action, grant
Family Military Leave Act (FMLA), California Family Rights Act (CFRA)
leaves; and provide voluntary firefighters' leave. There's more.
You're also subject to the Worker Adjustment and Retraining (WARN) Act, a
schedule of rules and regulations that pertain to providing advance
notice of plant closures and layoffs. But just remember, the grass isalways greener on your side of the fence-at least it is to the folkswith even more employees!


Medium-Sized Business (75 to 99 employees)


Each states compliance becomes more critical at this stage, and the numbers alone can sometimes make regulatory compliance a bit moredifficult. Things step up again, of course, when you reach the triple
digits.


Large Business (100 or more employees)


When you hire your hundredth employee, you can certainly say you've made it. Everything is on a larger scale now, from sales toliability. Your numbers expose you to greater risk, as the workplaceprovides more
opportunities for employees to become injured or disgruntled. It's
easier to make costly clerical errors relating to payroll, or management
oversight that fails to notice a missed lunch break. Doing what you've
always done may no longer be effective. Keeping your eyes on the big
picture requires a watchful eye on detail and depth as it relates to
sound business practices.


YOUR GPS FOR SUCCESS


The larger your company grows, the more crucial it is that your human resources team focuses on strategic efforts rather than tacticaladministrative
tasks. Getting caught up in policy rather than finding common-sense
solutions is a common pitfall.


Use these tips to craft your plans:


• Prepare for your 25th new hire; start strategical for the future before you're under the gun.

• The best handbook in the world can't replace smart management. Use your manuals as guideposts, not bibles.

• Avoid a cookie-cutter approach. Handle each employee and their circumstances uniquely, giving consideration to a win-win outcome.

• Create policies that are more interactive than rigid. Refusal to bend can leave you vulnerable to breaking.

Whether you go it alone or outsource human resources expertise, the stakes are too high to simply cross your fingers or to throw up yourhands.


Failure to comply with state or federal employment regulations puts all you've worked for at risk.

If you have a human resources guru on staff, invite them to the strategy table. Provide human resources with technology tools to manageemployee data so that HR can provide real
time data to forecast business needs and drive results. But if
you're not so sure you have the bench strength in HR, not to worry.
There are firms who specialize in navigating these waters for you or
with you. They know the territory well, as they've helped many clients
handle the precise concerns you're grappling with. Trusted firms can
share the benefit of their experience in areas where you're just getting
your feet wet.


It's a mistake to believe that human resources is another cog in the business wheel. Imbue your human resources team-whether that's oneperson or a specialized company you've
engaged-with a sincere vision of who you are and where you want to be.


Hope this Helps

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Here's an Email You Hate to Receive

To all Broker and Agents;

Due to the foreclosure processing problems being addressed by XYZ, we have been advised not to list any assets or accept any offers until this is resolved.

In the interim, Agents are still responsible for managing and marketing the assets per the listing agreement.

MLS rules may require that you change the status in the MLS to “temporarily off market”. Please follow the MLS rules.

Even if an asset is under contract, we are in a holding pattern until XYZ gives further guidance.

Keep your asset manager advised if you encounter problems.

We will keep you updated on any status changes.

Thank you for your cooperation.

Anyone else get similar correspondance?

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