Archives of real estate blog entries for October 24, 2006

Featured blog posts


What if Starbucks Was Run by a Mortgage Broker? - 08:48 AM
Some things would be different, that’s for sure:
There would be no prices on the menu.The exact same coffee drink sold out of the same location on the same day would be sold at different prices to different people.Employees would be trained and encouraged to maximize the gross profit on every cup of coffee sold by setting the price as high as possible for each customer.Employees would be incentivised to push the coffee that made them the most money, even if they knew the customer was allergic to it, enforcing a strict no refund policy.Coffees advertised as decaf would, in fact, … (49 comments)

NAR - 06:34 PM

Ok has anyone heard about where of if we are getting together at NAR.  There is a room near the International room that might be a good spot to just meet up or perhaps at or near one of the registration areas upstairs just to get started.  Perhaps someone is staying at a hotel with a nice lobby where we could meet.  Just a few suggestions do our leaders have a day and time in mind so we can plan accordingly?  Has anyone heard if a location has been decided? 
… (6 comments)

Top 5 secrets of successful blogs and how yours can be one of them - 11:15 AM
According to Technorati’s February 2006 study, one new weblog is created every second which amounts to about 75,000 new bogs each day. With that much competition, clearly, not every blog will be successful, so what makes one blog climb in the SERPs and gain momentum with readers while others flounder? Let’s dig into the mechanics and marketing of successful blogs and how you can be one of them. Shout out of the day goes to this article on successfully launching a blog at avivadirectory.
For those of you that have been watching the launch of RSS Pieces, you might have noticed that we … (49 comments)

Carnival of ActiveRain - 08:48 PM
The new ActiveRain category updates gave me a little idea.  This post has been sitting in my Writely.com account until Christine Forgione's post today helped me to realize where I want to go with it.  Many of you are familiar with Blog Carnivals.  For those of you who are new to Blog Carnivals read this.ActiveRain is proud to have the only husband and wife winners of the Carnival of Real Estate,  The Lovely Wife and Broker Bryant.  We also have had many Rainers make the top 10 in the weekly carnival.  Matt and Caleb have encouraged our participation in the Carnival … (42 comments)

Transaction Management Platforms - 04:06 PM
It is inevitable that Online Transaction Management Platforms will be pervasive in the Real Estate industry at some point in the relatively near future. I've heard numbers from agents saying that it saves them 30% of their time per transaction. It saves agents, ancillary service providers, and consumers, time. That said, more players are jumping into the game...
Unfortunately, or fortunately, depending upon your point of view, that means more choices, and more research to determine which one best suits you. A comment was made to my last post asking me to help "understand our options better". Would that it were … (19 comments)

Realtor.com Feed Update - John L. Scott - 03:42 PM
This is a follow-up to my post last week about the NWML pulling it's feed to Realtor.com.  I had the opportunity to speak with Lennox Scott, CEO of John L. Scott Real Estate (#7 on Realtor Magazine's Top 100 - Sales Volume), this morning.  While he didn't get into the specifics, he did confirm that the NWMLS is, in fact, pulling it's feed to Realtor.com.  He also mentioned the feed, at best, was never inclusive of Western Washington listings since the area's largest brokerage franchise, Windermere, did not include its listings in the Realtor.com feed.
The results of my 'little' unscientific poll … (17 comments)

This Is A Great Time To Be In The Real Estate Business!!! - 09:28 PM
Today I attended a seminar in Springfield, MA. sponsored by New Century Mortgage Corp. one of the Subprime Venders that we use.  It wasn’t about Subprime Lending, though I could have used the training, but about doing more business.  There were three speakers, all of them very good, and each covered a different aspect of the Mortgage Industry. The name of the seminar is CloseMore.  I don’t plan on covering the whole seminar in this blog, but I do plan on writing 2 to 3 blogs on the points that were covered that caught my attention the most. 
The first speaker … (38 comments)

Question is.... are YOU buying now? - 02:50 PM
If you are like me, you know that now is an excellent time to be buying real estate (at least in MOST areas).
Today, another agent, actually another Active Rainer ;) called me to tell me about a house he has listed.
Now I have been going back & forth about whether I want to buy this year or not. I have been watching the prices for the 'perfect' house I want. Which is a new/newer, 4 bedrooms minimum, in a gulf access neighborhood (although I want to be off water), with a pool & there are a few builders I … (26 comments)

What Do You Want Your Target Market to Remember - 12:07 AM
YOUR NAME!
Select a graphic artist to create a memorable signature/brand because it becomes your logo. It is recommended that you do not have a separate logo and slogan, They should be one it both and used together at all times on stationeries, signature lines, websites, marketing materials, etc.
When using your brand, do not confuse the recipients by combing your brand with the company's brand. If you do, how do you expect your target market to sort out your information. Create a signature and promote your overall marketing strategy.
When the public receives a copy of your marketing piece, you want them to … (16 comments)

Realtor.com………from day one……..Part II,..the problems begin. - 08:05 AM
 
In our previous episode RealSelect became HomeStore, floated a successful Initial Public Offering (IPO) of stock, and made a lot of money for their Realtor partners (NAR) from the stock sale.
Now all HomeStore had to do was start making money for the shareholders.
Unfortunately, even to right now, that has been much easier said than done.
HomeStore’s business plan called for them to sell lots of ‘enhancements’ and other things to Realtors such as websites, e mail addresses, virtual tours, banner ads, and more,listings and also to sell banner ads along with other advertising and partnership ventures with lenders, moving companies, and a host of others.
Miscalculation number … (9 comments)

My client wants $126,000 back at closing! - 05:40 AM
We had an offer on a listing we have in Miami. It`s a 2bed,2ba Condo facing the intracoastal and the ocean. We have it listed for $360,000. The offer arrived and I thought I needed to have my eyes checked. It was for $486,000. I`m having a hard time even attempting to figure out what`s going on, so I decide to call the agent! Before i call I write down a few items that are missing from this offer. 1- Escrow deposit is for $6000, it includes the Title Company,but no escrow letter of copy of the check.2- No P/Q letter or … (36 comments)

Perfect Practice Predicts Perfect Performance - 02:37 AM
It's been almost 17 years since I heard that alliterative diddy from a Merill Lynch Sales Manager.  The point he was trying to make to this group of hungry, young brokers was that it wasn't enough to have "a gift for gab" to be successful in the highly competitive business of securities brokerage.  It also wasn't enough to "just do it" until you did it better.
He was talking about a technique called the deliberative practice model.  I read a great article today, written by Geoffrey Colvin,  that was published in Fortune Magazine a few days ago. My old friend's alliterative diddy … (11 comments)

Never judge a book by it's cover! - 09:46 PM
Most of us all have been guilty of this at some point in our careers.  Judging people by the car they drive or the way they dress, or whatever.  I have always judged potential clients on there serious factor first, then the respect factor second.  With the vast amount of internet leads out there, we all know you have to size-up your prospects based on a number of things.  You cannot assume that every contact is going to purchase a home and spend days with each.  Once that screening process is done, the contact is made.  After that I am Big … (40 comments)

Somebody is reading.... - 03:21 PM
I had a call yesterday from a woman that had read my blog on handling low offers. I didn't think much about it at the time, but I just noticed that it was a members only post...
Kristin said that if her agent had done what I (and you!) had talked about that her situation would have ended up a lot better. He didn't set the stage when they started, she didn't know what to expect. Kristin feels that she would have handled things differently with some guidance. Isn't that an important part of our job? I mean, we've done this more … (36 comments)


Blog posts


Realtor.com Feed Update - John L. Scott - 03:42 PM
This is a follow-up to my post last week about the NWML pulling it's feed to Realtor.com.  I had the opportunity to speak with Lennox Scott, CEO of John L. Scott Real Estate (#7 on Realtor Magazine's Top 100 - Sales Volume), this morning.  While he didn't get into the specifics, he did confirm that the NWMLS is, in fact, pulling it's feed to Realtor.com.  He also mentioned the feed, at best, was never inclusive of Western Washington listings since the area's largest brokerage franchise, Windermere, did not include its listings in the Realtor.com feed.
The results of my 'little' unscientific poll … (17 comments)

Active Rain Contest - 06:03 PM
I'm sure quite a few of the members will be attending Halloween parties this weekend. We haven't had a contest in a while (speaking of which, any word on when the graphic contest winner will be announced?).  So I was thinking, what if we had a costume contest?  Members send in pics of themselves in costume.  The best (and worse) could be posted in an AR blog post and the winners picked by Matt, Caleb & co.
What you do you all think? -Charles
… (69 comments)

Home for sale in Cumming, GA - 09:28 AM
5309 Davenport Manor, Cumming GA 30041 ($479,000)
-James
Georgia Commercial Real Estate Agent
… (0 comments)

Home for sale in Woodstock, GA - 09:30 AM
526 Brookeshyre Court, Woodstock GA 30188 (459,900)
-James
Atlanta Commercial Real Estate
… (0 comments)

Home for sale in Cumming, GA - 09:32 AM
3210 Warbler Way, Cumming GA 30041 ($314,900)
-James
Cumming, GA Real Estate
… (0 comments)

Our dress code - 09:59 AM
I've heard many stories about back in the old days how certain real estate companies required thier male agents to wear puke yellow jackets with dress slacks and a tie and female agents long dresses with heels.
My how things have changed!
Just surfing the network and looking at the various pictures of my fellow AR members I can see that we all shop at different department stores for our business attire. It seems that most of you mortgage folks still wear a suit and tie /formal wear to your job while the real estate folks have become far more casual.
-Does the way we dress … (2 comments)

The Scoop on Pricing a Listing. - 02:21 PM
So many times when I speak to people, whether they are possible clients or people I meet when I'm out and about there's a misconception that a Realtor sets the price of a home when it's listed. 
In reality, it goes back to the market and that "supply and demand" rule.  Most everyone knows, when there's a large demand for something and not much product, the prices will raise but when there's a lot of product and a limited demand, the prices will go down.
I'm not writing this to get into a lengthy discussion about the economy or the stock market, … (1 comments)

Short Sale Option - 03:50 PM
In the Indianapolis area as well as many other areas, there's quite a few foreclosures these days.  Foreclosure usually happens when a homeowner can't afford to make the monthly mortgage payments any longer.  Some of the reasons for this are:  divorce, lay-off or job loss, illness, over-extending credit/mortgage, new construction home with 100% financing & property tax adjustments, adjustable ARM mortgages, interest only mortgages and unplanned expenses that get you behind.
I just wonder how many homeowners that are faced with this situation know about the "Short Sale" option?  What it is in a nut shell is the bank allows the homeowner to sell the property for … (0 comments)

Almost There - 06:30 PM
 
Setting goals is one part of a business plan and being goal oriented is important as you focus on the completion of a project.  I set a goal to reach 100,000 points on Active Rain and will soon be there.  The reward is to take a week off and let someone else reach the top.  So heads up for those of you close your time is coming!
… (5 comments)

NAR - 06:34 PM

Ok has anyone heard about where of if we are getting together at NAR.  There is a room near the International room that might be a good spot to just meet up or perhaps at or near one of the registration areas upstairs just to get started.  Perhaps someone is staying at a hotel with a nice lobby where we could meet.  Just a few suggestions do our leaders have a day and time in mind so we can plan accordingly?  Has anyone heard if a location has been decided? 
… (6 comments)

Patience is a Virtue - 06:43 PM
 
Two contracts, both great terms, both presented to seller.  One calls with concerns and why won't the seller do this too or change this now.  So the seller accepts the offer from the non complainer.  Easier to work with and focused on getting the deal done.  Win Win what a day, and we extended one other contract that could have been a goner. 
Some days are just worth it!
… (4 comments)

How to make your public open house a success - 02:50 PM
Dear Consumer/Real Estate Professional,
 
While I was co-hosting a condo Sunday public open house with one of my realtors that I have known for 20 years, I realized I should write/blog about “How to make your public open house a success”.  Consumers want their home sold as fast as possible along with a price tag close to the listing price.  Realtors who still do have public open houses should definitely take a look at the following to see if they agree with me.
 
As a home loan consultant/loan officer/mortgage broker who was previously in the corporate marketing world and … (7 comments)

Somebody is reading.... - 03:21 PM
I had a call yesterday from a woman that had read my blog on handling low offers. I didn't think much about it at the time, but I just noticed that it was a members only post...
Kristin said that if her agent had done what I (and you!) had talked about that her situation would have ended up a lot better. He didn't set the stage when they started, she didn't know what to expect. Kristin feels that she would have handled things differently with some guidance. Isn't that an important part of our job? I mean, we've done this more … (36 comments)

You want to learn on Active Rain? - 05:57 PM
Does it bother you that there are a lot of off topic posts, people goofing around, just having fun?
Aside from not reading those posts... you could learn a lot from them and the posters... try participating... 
The "The Lovely Wife" just had a massive blog on nicknames and she started it all with some well placed notes letting people know that they were mentioned in her post. I've also received those same type of notes from Maureen McCabe, Elaine Reese, Gena Riede and some others. I also have received an awesome cow thank you card from Karen Villa Schweinfurth and William J. Archambault (Investment Guru … (35 comments)

Everett, Washington (The Other Washington) - 11:21 AM
Everett, WA, 25 miles North of Seattle, originally an old mill town, is now an "All American City" with over 97,500 residents. Everett has sister city relationships with Sovetskaya Gavan, Russia; Iwakumi, Japan; and Kligo, Ireland.
Everett is the sixth largest city in the State of Washington and is home to the County Seat Government, Snohomish County.
Everett is surrounded to the West by the saltwater shoreline of Port Gardner Bay and Possession Sound with the Olympic Mountains crowning the picture. To the Northeast and East are the shores of the Snohomish River, the majestic Cascade mountain Range, Mt. Baker to the North … (11 comments)

Blog Titles: Making them Effective - 05:00 PM
In the world of SEO titles are one of the first item read by a search engine (SE) and human readers. Titles need to describe the blog, be short & sweet and should encompass the key words and phrases that are most important.
There are many so many blog on the internet these days, 75,000 new blogs added per day (Mary's calculation), and categorizing blogs and their topics is becoming a difficult task for SEs, blog aggregators and webmasters. We can all see the development of the categorization features added to ActiveRain blogs to help facilitate this whole process. So here is what … (12 comments)

Realtor.com………from day one……..Part II,..the problems begin. - 08:05 AM
 
In our previous episode RealSelect became HomeStore, floated a successful Initial Public Offering (IPO) of stock, and made a lot of money for their Realtor partners (NAR) from the stock sale.
Now all HomeStore had to do was start making money for the shareholders.
Unfortunately, even to right now, that has been much easier said than done.
HomeStore’s business plan called for them to sell lots of ‘enhancements’ and other things to Realtors such as websites, e mail addresses, virtual tours, banner ads, and more,listings and also to sell banner ads along with other advertising and partnership ventures with lenders, moving companies, and a host of others.
Miscalculation number … (9 comments)

Are you ClickDumb if you don't "ClickSmart"??? - 01:30 PM
I just had an interesting sales solicitation call from an outfit called ClickSMart, who for a mere $495 a month will put you at the top of the most searched for keyword terms in your along with 19 of your closest Realtor competito....................er, friends. ;-)
To see the ClickSmart deal in action search Google for a common search term like "Dallas Realtor". It seems they have a little competition in Dallas for the very top spot but they're number two.
For no additional cost you can also become a Clicksmart Certified Expert.
" In order to ensure that you are dealing with the highest … (7 comments)

VICTORIA HIGHLANDS IN FT LAUDERDALE FLORIDA LISTING - 08:52 AM
LOCATION, LOCATION, LOCATION. THIS EAST SIDE ESTATE HOME LOCATED MINUTES FROM BOAT DOCKS & BEACH.  ADORNED W/ OVERSIZED CERAMIC TILE FLOORS, WOOD BURNING FIREPLACE, LARGE FAMILY & LIVING RMS, EUROPEAN TOILETS & BIDET, SPACIOUS OPEN FLOORPLAN & MORE!  MOTHER-IN-LAW SUITES/APTS HAVE SEPERATEENTRANCES. THE 1 BDRM RENTS FOR $2K/MO IN SEASON & THE EFFICIENCY RENTS @ $1K/MO. THE MAIN HOME MAY RENT FOR $3K/MO AS WELL.  GREAT INCOME POTENTIAL. FIFTH BDRM IS BEING USED AS 2ND LIVING ROOM. THE DETACHED 10X20 BLDG CAN BE USED AS A 6TH BDRM/OFFICE. TOTAL OF 5 BED ROOMS 5 1/2 BATHS FOR JUST $ 699,000
… (0 comments)

JACARANDA LAKES ENCLAVE HOME FOR SALE ON PLANTATION, FLORIDA - 09:02 AM
REMODELED SPACIOUS 4 BED/2.5 BATH ESTATE IN GATED ENCLAVE SUBD. OF JACARANDA LAKES. FEATURES OVERSIZED LOT, HURRICANE SHUTTERS, OPEN FLOOR-PLAN, VAULTED CEILINGS, NEW UPGRADED KITCHEN W/ GRANITE COUNTERTOPS & CUSTUM WOOD CABINETS W/ UPGRADES, NEW APPLIANCES, OVERSIZED CERAMIC TILE & LAMINATE WOOD FLOORS. ADDT'L FEATURES INCLUDE NEW ROOF, NEW DIAMOND BRITE POOL, GRANITE WET BAR & WIDE OPEN AREAS FOR ENTERTAINING. LOCATED NEAR 4 MALLS, HIGHWAYS & LOTS OF RESTAURANTS. 599,000
… (0 comments)

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