Are you like us? Seeing a decline in social media engagement over the last year? 

I have heard many say "why is my social media traffic slowing down, specifically Facebook?" and I have noticed the same with my pages, that I have built slowly but surely over the last 5 years.

So on one hand, I'm relieved that it's not just me, that there are others in the same boat. On the other hand, I want to know why. Well, there are certainly dozens of opinions across so many social media news sites and platforms.

There seems to be a consistent theory out there, that it's due to Facebook's algorithm changes in 2013 and 2014? So many people don't know what an algorithm change (or update) actually is. Depending on who you ask, the answers can be quite different. If you ask Google, they might say that their algorithm updates are to provide a better user experience for you and more accurate search results. Ok, maybe!

If you ask Facebook, they may actually respond in the same way. But is there more to it?...There always is more to it. Especially when Facebook's brand pages have seen a decline in reach of around 44% late last year, with their paid exposure/posts bringing in over $6 Billion.

It's been documented that Facebook Brand Pages use to bring in a reach of approximately 16% of their page fans. Heres the bad news... that number has come down last year to around 3%. What? Thats about an 80% decrease in our posts being seen by people who have actually Liked our page and Follow us there.

We have all received those messages from Facebook about "Promoting our Posts" to increase our reach and our interactions, or even for more Likes. Have you tried paying to promote your posts? Did it work? Of course it did, because you paid to have people see your post.

Many Brand Page owners seem to be expanding their Social Media exposure to include Google+, Instagram and of course giving more attention to their Twitter accounts. 

We would like to know what your doing to spice up your social media interaction and presence. Have you see a rise in interaction on other platforms? Which ones? 

Mom always said to not put all your eggs in 1 basket, and I can't think of a better example of that old adage. 

Here is a great article that further explains some specialist's opinion on the current status and future of the big Social Media Platforms.  "Is Social Media Dying a Slow Death?"

http://enobytes.com/2015/01/05/social-media-dying-slow-death/

PamsVas - Real Estate REO Virtual Assistant Services

By working probates, agents can get ahead of the ball, not behind it or on top of it. With a shrinking distressed property market, many agents are feeling the crunch of fewer selling opportunities. A staggering amount of properties will pass through probates - literally trillions of dollars - and an aging boomer population only stands to increase the number of unlisted, unpublished, and unknown opportunities. 

Yet it begs the question, "how do I profit from probate"? Many agents mistakenly think that probate is a complicated transaction, but it is merely the court-supervised process of liquidating assets in the estate. If a property goes through probate, the heirs nearly always want to cash out - they want the money in the house. 

The first step is identifying probated properties in your backyard.

Finding probated properties is easy for those that want to invest the time to extract the data at the courthouse. While most court houses are in the stone age when it comes to technology, many counties publish this data online. The key is to what to look for, to ensure that real property is attached to the estate. Without this extra step, you can be spinning your wheels getting in front of leads that have no real estate. 

Because of the time intensity, you can easily pay a "leads" provider $5 or more per lead or more, with no guarantee that real estate is tied to the estate. Why not paddle your own canoe, and find probated properties yourself? 

Make no mistake, extracting probate filings can be timely, but well worth it. If you find that you don't have the time to do this tedious task, you can likely find someone locally to do it for you at a less cost than outsourcing it. I've put ads on Craigslist for independent court researchers and have gotten literally hundreds of responses. Of course, the person must be reliable. This is one of the drawbacks to using a probate leads company. They have little control over the day-to-day activities of a remote court researcher. They profess to have many court abstractors scattered around the country. That may be true, but the leads company wields little control over them. Oftentimes, these lead providers cannot find someone to extract data in a particular market, so they call up another provider. Which means they are re-selling someone else's data, with no guarantee of its accuracy. Worse still, the researcher can get frustrated and quit the job, leaving the client hanging out to dry. Better to exert more control by personally meeting with the researcher, have their cell phone number, and know what they are doing in real time. 

There are some companies in this space that sell a lollipop ring and pass it off as a diamond. That is, the probate lead is actually an obituary list. Perhaps you will be mailing to a nursing home. The key to knowing whether the lead is an authentic probate lead or whether or not a case number is included. Every probate file has a case number. If you do not get a case number, it is not probate! Also, you should make sure that the executor information is included, as well. This is the decision maker that has been assigned by the court to liquidate the property. 

Once you ferret out the probate filings in your locale, tenacity is the key as in all other forms of marketing. Those executors have varying times to sell. Some want to sell yesterday. Some want to sell a few months down the road after cleaning house. Some want to sell later on to get closer to the kids. In other cases, the probate process plays out, the property is reverted to the heirs, and the heirs have an itch to sell. Whatever their time frame, we can say that when they are ready to sell the property, they want to sell quick. 

Consider creating a website that is dedicated to probate. See some sample sites that are tailored to probate here. Having a probate site establishes yourself as a probate expert, builds empathy and rapport with the executor, and educates the family on the process. Many grieving families that would not otherwise warm immediately to a stranger would go to a website to access your resources and learn more about why they should work with you. 

In future posts, I'll bounce some ideas around as to what content to include on such a site. 

Till next time, A-B-C. Always be closing!

What is the Purpose of an Appraisal?

A mortgage has many specific pieces involved in it. Obviously there is the money supplied by the lender to pay the seller for their asking price. There are also many other items such as the title report and title insurance, a survey (sometimes), proof of homeowner insurance policy and an appraisal. An appraisal is actually one of the more important pieces and yet it still brings questions from buyers and sellers alike.

Required by the Lender

First and foremost, if a home is being purchased through the use of a mortgage then the lender will require a formal appraisal. A licensed appraiser works independently of the real estate agent and the lender to ensure that there is no undue influence on the process. The appraiser’s report will indicate if the home is worth the asking price.

Appraisal ordered after a Selling Price has been negotiated

The appraiser is contacted after the real estate agent(s) and all associated parties have worked out a price for the home. The appraiser will look at the contract along with a host of other items such as

* Square footage of the home

* Local property taxes for the home

* When the home was built

* General shape and condition of the property

* Average sales price of similar homes in the area

The price for the appraisal depends on the area of the country. Sometimes the appraisal fee is paid by the borrower up front and other times it may be paid as part of the closing costs.

Wise to Inspect First and Appraise Second

In an ideal world the buyer of a home would hire a home inspector to review a property before the home is appraised. The job of an inspector is to seek out any potential problems with the property. This can be as simple as finding a loose door knob to as complicated as finding out the entire heating and ventilation system needs replacing. Once the inspector has looked at the home the appraiser can approach the property with some idea of any possible short comings of the home and assign the correct value to the home. In a worst case scenario an inspection could lead a buyer to cancel a contract and look for a different home.

The Journey of the Appraisal

Once the appraiser has finished the report a copy will be sent to the mortgage lender and possibly the real estate agents. If the buyer paid for the appraisal up front then they too will get a copy when it is complete. Otherwise, the buyer will receive a copy at closing.

The lender, whether it is a bank or local mortgage company, will have their own process to review the appraisal and ensure the numbers look accurate. If the value of the home is much lower than expected then the lender may cancel the loan. On the flip side, if the home is determined to be worth more than the asking price then the buyer will have instant equity.

I received a call a few weeks ago from an agent in Tampa (I'm in Jacksonville) requesting that I list an REO for him and he would pay the referral fee. He then asked me to do a BPO and send my vendor out to rekey the property which was done and he would pay once I sent all the docs and invoices.

I'm sure you know the rest of the story. He's never paid or listed the property in my MLS. Now he won't even answer phone calls. I have had to pay my vendor so of course I got the lockbox back and took the keys.

Beware of unscrupulous realtors. They give real estate a bad name.

One key component to becoming a successful real estate agent is to start getting better reviews and more of them. How does a realtor get the reviews they so richly deserve? To convert a potential client to sign on the dotted line, often the defining factor is whether the agent must be well liked or well reviewed.

Most of the time the job of the potential client is to find that perfect real estate agent who retains the key qualities they want to see written on a resume are local knowledge, negotiation skills, responsiveness and process expertise. If you have those four qualities then you are probably a successful agent. Successful real estate agents have such qualities and the reviews will come if you can tick five stars in those fields.

You cannot expect that review to be completed automatically. In fact, eight out of ten clients won’t bother actually writing or completing a review unless they have been specifically asked. An agent can email, text or politely call the client after the sale and request that they write a review.

I knew one agent who would specifically ask their client, face to face for a written review or recommendation when dropping off a house-warming gift after the close. That way the gift would be a constant reminder to make sure the review is completed. So dangle that carrot. It is not as if an agent is buying a review, just thanking the client for their time and effort in completing the review.

An agent should mention reviews from a very early stage. If you leave it until the day after a sale has been completed, the client may believe there is little importance attached to it. Make the request for the client to complete one, part of your business practice.

It is also worth the time and effort for real estate agents to help clients fill in their review forms. When someone looks at a blank screen and tries to think of the words that will form their review, often there is a moment of writer’s block or difficulty in coming up with the right words. It is not OK for a real estate agent to write a review for the client, but it is fine for them to cite examples.

So get out there and start asking for those reviews. With so many real estate agent websites out there, you are sure to improve your reputation and increase those sale.

Pam’sVAS – Real Estate REO and BPO virtual Assistant Services.

Sellers, there are more expenses to selling your home than commissions if you're not ready to sell. One of worst things a seller can do is overprice his/her home when it first comes on the market. A small overage is one thing, but when that overage hits 10, 15, 20, 30% and beyond, it's like burning dollars in your furnace to stay warm.

What are the unrealized expenses of overpricing a home? I only say unrealized because it seems that sellers are the last ones to realize the costs of overpricing. Let's assume the house is in good condition, ready to show and is in a good location, but it's priced too high. What are the unrealized costs?

• The monthly expenses of maintaining a home that could be used in purchasing a new home. (Electricity, water, heating fuel)
• The other periodic expenses that occur and need to be paid, such as: property taxes, insurance, maintenance costs, etc.
• The expense of keeping the house ready to show. Who wants to keep their house ready to show seven days a week for six months, nine months or a year? You can never really take a day off from living in a museum.
• The expense of having to pick up and leave the house for showings over and over. That may inspire more dinners out, more shopping trips and of course more inconvenience and more expense.
• The expense of giving a neighbor an insight into what not to do when she's ready to sell. She watches your unsuccessful attempt to sell your house and then lists hers for 10% less. It sells immediately. You blame it on your lame Realtor, but the truth is it's your price. 
• The expense of stress on the family. If you have children or pets in your house the above issues also affect them. Kids can't have kids over because they might have to leave at moments notice, dogs and cats end up crated for hours on end and neither can use the house the way they did before it was listed. 

A house that sells quickly is just as likely to sell quickly because it was listed well rather than because it was listed low. When you hire an Realtor to sell your house, make sure your hire one that you have confidence in and then listen to his/her advice and insights into the local market.

A buyer will likely buy another house that is similar if the price is lower. No matter how wonderful your house is, it's in competition with every house on the market. If your house is the most expensive one, it will likely sit longer than similar properties. Think about the unrealized costs of overpricing a home. When you're ready to list your home, give your Cornerstone agent a call for an honest assessment of your home and it's potential for a profitable sale in a reasonable time. 

Check out Beth Atalay's blog: You Are NOT Ready To Sell Your House Yet!! 

January Home Sales Fall as Prices Continue to Rise

The Wisconsin housing statistics are in for this January of 2015. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

~~~~~
Existing home sales fell in January but median prices rose at a healthy pace, according to the most recent statewide housing market analysis by the Wisconsin REALTORS® Association (WRA). Home sales in January 2015 fell by 3.7 percent relative to January 2014, while median prices were up 6.5 percent to $135,000 over the same period.

“January is typically our slowest month for home sales, so it’s important to keep this decline in perspective,” said Dan Kruse, chairman of WRA board of directors. A typical January accounts for just 4.8 percent of annual sales in Wisconsin. “With such a small base of sales, a 3.7 percent difference is only 125 fewer sales this January compared to January 2014,”
~~~~~

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month both Dane & Rock County's home prices increased significantly yet again! Both counties were also an exception to state results and had an increase in the number of homes sold, year over year.

Thinking of purchasing a home before prices or rates rise any further? We'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Rock County Homes 

Dane County Homes.

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our distressed property page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

January 2015
Home Sales: 3,257
Median Home Price: $135,000

January 2014
Home Sales: 3,375
Median Home Price: $126,799

Housing Statistics for Dane County, WI:

January 2015
Home Sales: 336
Median Home Price: $214,750

January 2014
Home Sales: 292
Median Home Price: $205,250

Housing Statistics for Rock County, WI:

January 2015
Home Sales: 110
Median Home Price: $106,950

January 2014
Home Sales: 98
Median Home Price: $98,950

View my report from last month. Wisconsin December 2014 Housing Statistics

Once one business cuts its cost to win the contract for nationwide coverage of BPOs and then reduce the price paid to Real Estate agents, we (as Independent Contractors) suffer from the reduced fee structure.  Surely other firms will quickly pick up on the idea and say hey why pay more when we can get them for less. Then the pricing wars begin and from there its a "Downward Spiral" very similar to a toilet flushing.

As this race to the bottom accelerates, You'll have fewer and fewer alternatives unless of course at some point you want to work for nothing.

At least ponder this idea before you accept the next Low Fee BPO,  Please don't take part in the "Race to the Bottom"

It should go without saying that dealing with probated properties demands a level of sensitivity, beyond the rigors of a traditional sale. 

The executor is not merely feeling the loss of a loved one, but there are other dynamics going on. From my experience, the astute investor or agent that can help the executor navigate through these other issues will be successful. In this sense, you are not an investor or an agent - you are a problem solver and in some cases, a social worker. 

I recently designed a probate site for an agent that made it a selling point that she can secure the home of a probated property to keep out "self entitled" heirs from removing items and valuables from the probated property. She is doing well working probates because she is willing to enter into this frank, heart-to-heart conversation that doesn't couch words. The reality is, when someone passes, there will be family members that sweep in to claim belongings that they may or may not have an equitable right to. It becomes in many cases a free for all. The agent's call to action was to lock up the probated property like Fort Knox. 

In another case, an investor makes it a salient part of their probate marketing campaign to stress that they can remove belongings in a dignified manner, liquidating non-real property assets to generate cash for the estate OR donate items to charity, giving the family a sizable tax write off. 

I can go on about stories, but the quintessential point is that when working probate, you are less a real estate professional, and more social work. Oftentimes being a referee between heir in-fighting, 

When subscribing to a list of probate filings, some clients love us. Some of them hate us. It all boils down to the results. And among the successful agents and investors that are getting more inventory, there is one common denominator, I have found: They have a mindset of solving problems, and not just listing the house or buying the house. Their fundamental value proposition when working probate is to restore normalcy in a thorny process that often wedges family members against each other. As if listing the home - or buying the home - is almost an afterthought. 

It's really capsulized in the entrepreneurs creed, a plaque hanging on my wall that says in essence, "We are only compensated to the extent that we add value to other people". 

In other words, when working probates, listing or buying the real estate is the end goal, but what precedes it is building empathy and trust and creating harmony. The rest will follow. 

My job is to craft this message that resonates with executors tasked with the honor and burden of settling their loved one's estate. If you'd like to  have a website dedicated to probate, get in touch. 

When marketing to probates, the "go to" person you want to contact is the executor, also known as the Personal Representative, among other terms. This is the person that has been given the authority by the Court to wind down the early affairs of the deceased, and is tasked with liquidating the real property attached to the estate. 

Although most people are mailing the executor, some real estate agents and investors are intent on calling them. What to say once you get them on the phone? One idea is to build momentum by getting a series of yes's. I'll explain. 

It's long been a practice of phone sales to ask questions that only lend itself to a yes. By building a series of "yes", "yes", "yes", the sales person asks for the sale and the prospect, having been in a mental pattern of saying yes throughout the call, is more pre-disposed to say yes to the close. Is this reminiscent of the boiler room tactics of the 80's? Maybe a little, but it still works. 

When calling executors in an effort to list or buy their home, one game plan is to simply ask them to verify truths contained in the probate case file. They know this information to be factual, and so they are hard pressed to say no. So for example: 

You: "Good evening, Mr. Smith. I understand that you have been appointed the Personal Representative for the estate of Sally Smith, is this correct?"

Executor: "Yes, that is correct". 

You: "I also understand that the estate has a property located at 123 Main Street?"

Executor: "Yea, that's the property".

You: "Great. I'm curious if I can come by for about 15 minutes on Wednesday to view the property to see if we can make an all cash offer on the property...."

The quintessential point is to not ask the executor for any information, but to merely confirm what you already know. 

It's worth noting that typically, the executor phone number is included roughly 20-30% of the time in the court records. To get more phone numbers, there are other "phone append" services that can take your list and populate phone numbers. You can also do this on your own through services like White Pages. 

If you prefer to take less of a direct approach and want to mail the executor, here's a pdf with sample letter templates. Need a website that communicates with executors? Get some ideas by viewing some sample probate websites. 

First, a little background is in order.

With an aging boomer population, there will be trillions of dollars transfer from one generation to the next in the coming years and these probate properties are unlisted, unpublished and unknown.

While every agent and investor should seriously consider adding portfolios to their portfolio, this process is often shrouded in mystery when it need not be. Probate is simply the court-supervised process that ensures that the estate's taxes, expenses and creditors are paid and the remaining proceeds are distributed to the heirs, in accordance to the wishes of the deceased. Sure, there's some nuances and paperwork, but it's not that arcane of a process. 

Once real estate professionals want to enter the probate arena, the question often is "how do I market to them?" As a starting point, consider putting up a website tailored exclusively to probate. A typical agent's site is busy, with myriad links to different audiences. There may be a section to buying a home, selling a home, moving tips, etc, etc. By having a site dedicated to probate, you can speak directly to the needs and desires of families that are going through this difficult process. The goal of such a site is to: 

1) Educate executors on the probate process and offer insights into what their responsibilities are, what they can expect in terms of the probate timeline, and what their options are.

2) Build empathy with those families by having a "heart to heart" conversation. 

3) Establish yourself as an authority in the probate process and convince them to list the home with you or, if you are an investor, convince them to sell the home to you. 

To view some sample probates I've designed for other agents and investors, check out a few examples here. 

It's been said that there are "riches in niches", and you can gain a distinct competitive advantage by establishing yourself as a probate expert that can liquidate real property in the estate. 

It is rapidly becoming apparent that the auto accept industry is killing the REO business forcing companies to do everything possible to combat them. The latest announcement by RReview that they will be moving away from broadcast orders says it all. I cant understand why agents feel they need to take every single order the only real winners are small BPO companies that love the way there orders are taken quickly ( at low fees to most of the time)

Finding that Elusive Starter Home

The past few years have brought several changes in the real estate industry. The housing bust of 2006-08 led many people to either sell or walk away from their home. As the market is continuing to rebound, many investors have scooped up homes at affordable prices and are offering them as rental properties. In addition, other investors have bought homes at discounted prices with the sole intention of selling them at near-full value for a profit. So the question remains; how does a first time homebuyer find an affordable starter home?

Consider a Different Location

Too many times a young person or couple will buy a home in hopes of expanding their family. That leads to choosing a home that is convenient to good schools, nearby shopping and plenty of entertainment activities. However, for people that may be a few years away from starting a family, the location should be different. Buying a home within the city limits, for example, where the owners can be extremely close to work, could be a better fit.

Consider an Older Property

Younger people often get caught up in the dream of buying a new home and settling in with the smell of fresh paint and recently rolled carpet. However, new homes usually have a much higher price than older homes.

While it is true that an older home may either need a bit of repair before purchase or more maintenance compared to a newer home, the savings in purchase price can often offset the repairs and maintenance expense. In addition, young ambitious people may be able to tackle some, or all, of the maintenance and repairs on their own which can save them more money in the long run.

Tone Down Expectations

A starter home is simply a way for most people to get experience with the entire home buying process. This means that potential buyers should look at the home as a learning experience. Most individuals can get by with far fewer amenities than what they are accustomed to. Or, instead of giving up nice amenities, it is possible to buy a much smaller home and save up for a bigger home in the future.

Have Financing in Order

Since there seems to be a bit of competition for starter homes it is wise to have the financing in place before looking for a home. Putting an offer on a home with a firm pre-approval letter from a local mortgage lender will make the whole process smoother and give you a better chance of getting your offer accepted.

It may take some time, but with a little patience and realistic expectations a qualified borrower can find that starter home that will set them on the path to achieving their financial dreams.

↓↓Start your home search today!↓↓

[Janesville Area]

http://www.JanesvilleRealtor.com

[Madison Area]

http://www.MadisonWIForSale.com

I know some day soon our days as BPO specialist will end, this could be the start of our demise.  This article refers to appraisers however the software in use today will soon make us all pretty much obsolete.    Any comments?

Does the mortgage industry still need Appraisal Management Companies?

Not with Fannie Mae's Collateral Underwriter

We have all heard by now of Deep Vein Thrombosis, a debilitating condition caused by sitting still in one position for hours on end, often in a plane on a long-haul flight and in a tight and cramped position. But just like air passengers, who are often cruelly crammed in to tight spaces by airlines getting as many of us travellers as possible into one plane (to maximize its own profits), long haul drivers are suffering similar fates. These include truck drivers, salesmen and real estate agents.

Real estate agents are often forced to drive from the office to the home that is up for sale (to show potential clients around) and back again several times a day. And the practice is playing havoc to those who suffer from DVT (Deep Vein Thrombosis).

The news that drivers face the same medical issues as airline passengers has alarmed those working in the real estate industry. In fact, doctors have confirmed that it doesn’t matter where you are sitting – be it on a train, on a plane or in a car – a blood clot could occur if the person has been stuck in the same position for hours on end.

One French cardiologist has termed the condition as “economy class syndrome” in reference to the confined space in which passengers are forced to endure long haul flights. But think about your long car journey and you will soon realize that long term driving is punishing your legs in much the same way as a cramped passenger aboard an economy airline.

DVT may occur when the legs are restricted in one tight position for long periods of time. The blood clots in the part of the leg below the knee. Some hours later, after the clots have formed, they will journey around the body after fragmentation. It gets worse as these fragments are liable to form in the lungs, head or even the brain – sometimes with fatal results.

A recent study of 160 patients who had suffered from DVT showed that 39 of them had acquired the condition after travelling for a period of more than four hours. 28 of the 39 had actually travelled by car. ..Thats almost 70%.

Doctors have advised that if you have a long-haul journey to make, it may be better to fly rather than drive, as this would involve less time sitting in one cramped position.

Also, don’t overlook the importance and success of compression socks. They certainly aren’t the most attractive accessory but definitely the most important if you fit the description of a potential DVT candidate.

Be sure to speak to your doctor for more information on the potential of DVT.

PamsVAS - Real Estate REO and BPO Virtual Assistant Services

Is the new Fannie Mae Appraisal Program helping or hurting? What are the basics of the program? Well, the real estate giant is planning to offer mortgage lenders access to proprietary home valuation databases, so that they can use it to assess the “accuracy and risks posed by the reports submitted by appraisers.”

So this system will look closely at the work performed by the appraiser and flag any possible errors. This means the lender can ask for an appraisal to be looked at again, which could in turn lead the lender into reconsidering whether or not to go ahead with the loan.

This new step – to be added from January 26 – will mean the price a home is sold or bought at being determined more thoroughly and will undoubtedly add more time to the closing process and may ramp up the cost of the appraisal fees for doing all that extra work.

So why is this happening now? Well, Fannie Mae wants lenders to make more informed decisions when approving a loan to a home buyer for the mortgage. At present, a buyer will scour the internet and real estate listings and look for their dream home in the area of their choice. Then a buyer finds a home, makes an offer, agrees on a final price and then starts the home buying process.

The price is at the very high end of their budget but that doesn’t matter because this home is in the area they have always wanted to move into, It has a number of A-listed schools nearby, great shopping malls and restaurants at their doorstep and a place where the crime rates are very low – so it’s got to be well worth it! Right?

But from January 26, the lender will submit the appraisal report to the new Fannie Mae Program and they will come back with “lower risks comps” that could value the home at a higher rate. The lender could then ask the appraisal team to look at the loan again and reconsider, adding time and money to the buying process.

The fear of many real estate agents is that if appraisers become concerned they are constantly being told its assessments are inaccurate, they will automatically be more conservative in their assessments, resulting in lower house prices and stalling the housing market growth considerably.

Only time will show the affects of the New Fannie Mae Appraisal Program. Let us know if you see any drastic changes in your transactions and listings.

PamsVAS - Real Estate Virtual Assistant REO and BPO Services

Part  1 of a series 

Let’s be honest, how many of us can say that when handed a Real Estate manual, we jump for joy at the thought of having to actually read it –much less understand and retain what we’ve read? “Fifty pages on how to properly complete a real estate BPO . . I’ll just wing it.” Chances are we either end up skimming over the literature while thinking of all the other things we could be doing or we “shelf it” it and scram to find it when a situation arises. If you want to increase the size your wallet, then you need to increase your attention span –and that’s just the ugly truth! So, without further a due, let’s move on to the promised resolve. I am confident I can hold your attention; after all, it is Pam’s Way!

“How can I get more BPOs?” Oh Boy, have I not been asked this question countless times! While I do have 25 years of Real Estate experience under my belt, my answer has remained the same from the get-go. Adhere to the companies guidelines -literally to the “Tee”. Yes, it’s really that simple. The guidelines are there for a reason; they spell out what each company wants and expects from you. “But Pam, why are they only assigning me rural BPOs? ‘The properties are so far apart that the fee barely covers my expenses.’ ” Well you see, the competition between agents for BPOs is pretty cutthroat. Those who adhere to the company’s standards and guidelines are, in essence, giving the companies what they want; in turn, those agents get what they want. As for the slackers . . well, they get what the “model agents” don’t want.

Mastering the Art of Taking Clear & Usable BPO Photos

It always amazes me when I stumble upon botched BPO photos. You would think that with today’s technology as well as with the growing popularity of social media, one would be capable of delivering “clear and usable” photos. Still, a fair amount of agents submit less than satisfactory photos. So, what deems a photo satisfactory? Well, let’s take a look.

So, you’re browsing through the MLS search results…trying to find those perfect comps, when you stumble across a listing whose photo features the picture taker’s driver’s side wing mirror. Would you pause and question the use of the photo or would you continue on without even noticing? If you were a reviewer of a BPO whose subject photo featured the picture taker’s rear view mirror, hood, dirty windshield etc . . Would you think, “Wow, this person has really gone above and beyond our expectations! They are definitely someone I should delegate more orders to!”? Feel free to use the following photos as a reference.

Recap:
BPO Photos should NOT feature the following:
• Your limbs and/or extremities
• Any part of your vehicle
• Mirror Reflections
• Front yard BBQs
• A moonlit subject property
• Subject property in motion
• The mail service/carriers
• Pets/Animals
• Family pictures
• Billy’s “not-so-secret” magazine collection
• Timmy’s nasty addiction
(You get the idea)

Remember, this is your profession; not Instagram, where you gain likes for uploading photos worthy of “#photobomb”.  Get yourself together. If you want to receive more BPOs, then give the companies a reason to assign you more.

I know . . time is money. You may think 1 botched batch of photos out of 5 isn’t all that bad. After all, you managed to make it to all five properties in one day; you’ve even made it home in enough time to complete data entry and submit the orders before dinner! Either you’ll luck out and they’ll let the photos slide or they’ll make you collect new photos. Regardless of the outcome, submitting botched BPO photos will definitely cost you money in the long run -so take your time!

The agents who invest their time into providing quality service are the agents who receive the highest amount of BPOs; leaving those who compromise on quality in turn for getting the job done quickly, their leftovers. Apart from receiving a higher volume of BPOs, the model agents are also more likely to win the listings. I mean, come on, if you can’t take a picture properly (even after having been provided instructions), then one can only imagine what your completed transaction documents would look like.

So, I conclude the first part of my planned series with the following words of wisdom…

“Practice doesn’t make perfect. Practice makes permanent. Perfect practice makes perfect. So, every time you repeat an action, right or wrong, you will find it easier to repeat that same action, right or wrong. Develop a passion for obtaining your goals. If you do, you will never cease to grow.”

When one is truly passionate about something, it increases ones chance of success. Passion is what pushes one to give more than 100% of oneself, instead of simply putting forth the bare minimum.

Check out our full Blog HERE

Don’t forget to add us to your Social Media pages for more good reads!

Housing Market Ends Strong in 2014

The Wisconsin housing statistics are in for this December of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

~~~~~
The housing market ended 2014 on a strong note with both existing home sales and median prices higher in December, according to the most recent analysis of the state’s housing market by the Wisconsin REALTORS® Association (WRA). Home sales in December rose by 2.1 percent compared to December 2013, and median prices rose 4.3 percent to $145,000 over that same time frame. For the year, home sales in 2014 were slightly below a very strong 2013 market, down just 1.5 percent; but prices were higher in 2014, up 3.1 percent to an annual statewide median of $148,000.

“Despite a slow start due to harsh winter weather early in the year, 2014 rebounded nicely and ended with an excellent December and a very good final quarter of the year,” said Dan Kruse, chairman of WRA board of directors. Kruse noted the fourth quarter of 2014 was the strongest since 2005.
~~~~~

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month both Dane & Rock County's home prices increased significantly. On a year over year basis, Dane County's total number of homes sold was up while Rock County home sales slipped.

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Real Estate Listings in Janesville, WI 

Real Estate Listings in Madison, WI.

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our distressed property page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

December 2014
Home Sales: 4,778
Median Home Price: $145,000

December 2013
Home Sales: 4,663
Median Home Price: $139,000

Housing Statistics for Dane County, WI:

December 2014
Home Sales: 466
Median Home Price: $220,170

December 2013
Home Sales: 442
Median Home Price: $202,250

Housing Statistics for Rock County, WI:

December 2014
Home Sales: 131
Median Home Price: $116,250

December 2013
Home Sales: 147
Median Home Price: $110,000

View my report from last month. Wisconsin November 2014 Housing Statistics

Get ready for major changes, this isn't your grand parents Real Estate market anymore!

______________________________________________________________________________________

View the video online

A giant 3-D printer can literally build houses. We’re seeing this in China, and in the United Kingdom. You can get a 3-D house for just 5 thousand dollars!

Continuing Education Classes start as low as $29.95 for 3 hours of continuing education credit. Some classes we offer are BPO Simplified, and REO Simplified. If you need CE credit for your license, why not get it through us? To learn more, visit REOPro's Continuing Education tab and follow the directions.

Visit REOPro Default Professionals at: http://reopro.ning.com/?xg_source=msg_mes_network

Posted by: James A.Browning, Course developer and creator for BPO and REO Simplified.