The pace of the market has seemingly picked back up the last few months due to the great propoganda for the 1st time homebuyer credit of $8,000. Everyone sees a turn around now in a few months...but that is what the optomist have been saying since the meltdown in Feb of 2007. I try to be a realist....and my first questions is where is the inventory that the banks are holding back on? And my fellow agents..do you know why we're having multiple offers on properties and why it seems we're increasing in value in some areas? THIS IS NOT APPRECIATION. Its a combination of a lack of good inventory with the great tax credit incentive. That's it.
Don't get me wrong...
I think it's good that buyers are back buying and inventory is being cleared..I just can't even begin to think how the banks are going to clear their massive inventories everyone...including the news media and agents have stopped talking about...if they're holding their inventory and having it trickle into the market..that means there is a huge backlog people! I just wonder how they're going to clear well over 4 million properties when the stats show defaults up with the current REO/short sale inventory on hold.
Expanding asset manager seeking COMPETENT AND COACHABLE CALIFORNIA
LICENSED REAL ESTATE AGENTS for BPOS
WHO WE’RE LOOKING FOR:
We are seeking competent agents who:
Have a minimum of 1 year of BPO experience AND you need to be willing
to be re-trained on doing reports the way our companies want them
done. With that said, we are willing to train the right persion, but
they need to be an active licensed Real Estate Agent or Broker in one of the above reference states. We
will be getting between 50-100 per day in the areas this ad appears on
Craigslist. We have a 2 day turn around needed on BPOs. We are agents
with a high volume looking for help with our BPOs. We do not get them
direct. Pay will be $30 a BPO for both report and pictures. DO NOT
ASK FOR MORE, you will not get it from us. We know the industry and
we know what other companies pay. We work with the giants of the
industry and we know that no other company can give you 5-10 BPO a
day. If you sign up for these asset companies you will be lucky to get
to 20 a month with them. PRICE PER BPO IS NOT NEGOTIABLE.
MUST HAVE OWN MLS ACCESS.
FREQUENTLY ASKED QUESTIONS:
1. I don’t have a license, can I do this? NO. Please do not respond to
this ad if you are not licensed. We will not save a position for you
until you get licensed. This is an opportunity right now and you need
to have your license in hand and be ready to work.
2. Will I get the amount of work I want immediately? NO. There is a
ramp up period and you should be able to cover your expenses. NO
advances will be given. If you are hurting for money, this may not be
the best opportunity for you. If you ask for an advance, we will stop
giving you work. Also, these forms are not familiar to people in the
beginning and a couple BPOs could take you all day in the beginning.
3. I don’t work, how many BPOs could I do in a day? It depends on how
proficient you are on the computer. How fast you type, and if you can
multitask. We have been doing this for years and if you get great at
this, you can get the time down to 20-30 minutes a report. 5 BPOs a
day ($150) x 20 days a month = $3,000/month. 10 BPOs a day ($300) x 20
days a month = $6,000/month.
4. I’ve done BPOs before, why do I need to be re-trained? WE WORK WITH
THE GOLD STANDARD and most strict BPO company in the industry. No one
does them better and they have the strictest guidelines. Other asset
companies do not have a Quality control department, WE DO. You cannot
just slap 6 comps together and call it a report. It will be returned
to you and you will not get paid for sub-standard work. Company name
will not be disclosed until we agree to work with you, so don’t ask.
5. When will I get paid for the BPOs I do? It will take as long as 45
days to get paid. Why? We wait until the company pays us, then we in
return cut you a check for the work you did. If you have done BPOs
before and dealt with asset companies you know sometimes you wait over
4 months to get paid. Here is how the pay works: Let’s say you start
between the 1st and the 14th of November, you will get your first
check for the pay period from the 1st-14th on January 1st and then you
will get a check every two weeks thereafter as long as you have done
work in the 2 week pay period. If you start on the 15th-31st of
November, your first check would be January 15th. The first check
takes longer. We pay on the 1st and the 15th.
6. Can I get more than 10 a day? If you prove you can handle 10 a day,
and show good, consistent work, then we are willing to assess your
work and give you more.
7. What if I turn in late reports? You will not receive any more work.
We are on a rating system with the companies we work with. If you turn
in a late report, our rating goes down and we will receive less work.
If you cannot make deadlines, do not apply. If you are not willing to
go sleepless nights to make deadlines on work you promised to
complete, please do not apply.
8. I am licensed, but I’ve never done BPOs. I believe I may be a good
fit for your training. If we agree to train you, it does not mean we
will work with you. It means we’re willing to see how quickly you can
pick up the principles we teach.
I am reposting this for a friend, please email him directly at oren@placeforhomes.com Please do not email me. Thanks.
...I ask this to people everyday and they usually respond with something like, "what are you talking about Felix? I don't get cash back!" Well...what do you do with your cash back from shopping online? If you don't, would you like to for FREE? Yes, I said for FREE...absolutely for FREE. Just go to http://www.greenbackstreet.com/felixhung to sign up. Now, with the economy the way it is, don't you think your clients would feel this is added value for them if you knew about helpful websites like this?
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http://www.freeshipping.org/ - Don't hit the "buy" button until you've searched this site for free shipping codes. You can set up e-mail alerts to be notified when your favorite stores offer same.
My heart goes out to you for fighting the fight. I have been in this industry for 5 1/2 years and I have attained great success: 5 times - Multi-Million Dollar Club, 4 times - NVAR Top Producer ($6mil+) with a list of clients that would do anything for me! I have been blessed with success in real estate, but I grow tired of where the industry has gone the last two years...I am not speaking of the market conditions, but of the negativity, the unprofessionalism, and the lack of respect for fellow agents. There are issues with almost every deal these days with all the short sales and foreclosures out there. Enough is just enough when you feel like you feel drained after each week and each month in this industry.
Recently, I stumbled upon a network marketing company called Eiro Research and it is my solution to 80+ hour weeks and putting my clients needs above those of myself or the people I love. I hate pushing friends aside for the pursuit of success through real estate. I hate not being able to slow down to enjoy life or the success I've earned!
If you can relate, let me tell you how I plan on spending my time. Real Estate agent seems to fit very naturally into network marketing IF it has the right formula for success: 1. Professional Company 2. Great Product you can truly stand behind 3. Education and Mentorship program for Success 4. Great Compensation and 5. Timing and Positioning
If this is the right time for you to consider doing something different, please contact me. I am part of a very successful team of Eiro Research and Bo Short, renowned speaker and author, is one of my mentors. We are the fastest growing team (as I am writing this) and my promise is to present this to you with professionalism and respect and to truly let you decide if this is the right opportunity for you.
Before I post this in the referral section, I wanted to contact and talk to 2 or 3 agents about representing a client I have moving from Ft Bragg to the DC area. I'm looking for someone that share the same vision as me and who is relentless in getting the job done. It would be a plus if you were a By Referral Only agent...and if you have worked with military before.
If you're up for it, I'd like to hear your listing presentation over the phone. Being prior service military, I would like to know that Robert and his family will be taken care of. I hope you all don't see this as asking for too much! You will probably get a lot of military referrals from this client if you do well.
Thanks!
Felix Hung, Realtor RE/MAX Distinctive NVAR TOP PRODUCER 2005/2006 NVAR Multi-Million Dollar Club 2004/2005/2006 (703) 304-3560 Cell (703) 241-2131 Office (703) 241-2123 Fax felixhung@remax.net <mailto:felixhung@remax.net> Search the MLS at: www.homesdatabase.com/felixhung
Former Combat Engineer in the US Army* Volunteer Wrestling Coach: Marshall HS, Falls Church VA
A referral. The best compliment we can receive right? So how do we get our clients to give us the name and number of their trusted friends, family and colleagues? I'll share what I do if you'll share what you do..and maybe together we'll come up with a nice list of things to do with all our clients to grow those referral seeds.
We ask for the referrals upfront. On my team, I have all my team members know that we ask for referrals at our initial consultation with our clients. We do this to set the tone and not to pressure them. We say to make a list of people who they know of who are [fill in the blank] and have that list ready. We expect that if we give them service beyond their expectations that they would trust us enough to share that list with us.
We tell our clients what we're doing for them. This is something I really took from my real estate coach and the By Referral Only system, but it is very powerful: we never say, "no problem." When we say that, we undervalue the service or activity we did for that client. We tell them exactly what we did for them, how we did it to make it work, why we did it, and how they benefit from it.
We are honest. We don't "BUY" listings. I tell people the blunt honest truth, and if they can handle it, they usually pick me. If they don't want to believe what I say, they search for that agent who has the same point of view as they do. It's sad to see these homes expire 6 months later then sell for a lot less than my suggested price =(
We do exactly what we say we're going to do. I have been told by sooooo many clients that their past agents didn't do this. They were late, they'd cancel, reschedule and they never did what they said they were going to do.
I give small gifts at settlement.
I call them after closing to see how they like their new home (7 days, and then 30 days).
I have an assistant follow up with all appointment to get feedback from them.
I mail them their HUD-1's in January for tax season.
I remember their kid's names and write down their bdays if I can...
I'll add more later, just wanted to get started on this topic!
I found out some great information last night and I wanted to share it with you!
I'm giving my friend Lily Nguyen a plug here. I just found out she helps people find office space in Tysons Corner. These are phenomial rates for office space and we get paid QUICK. The commission for realtor's & broker's is 10%. For the 3rd contract with a term of 6 months or more realtor's/broker's will receive a $500 AMEX gift certificate & for the 6th contract another $500 AMEX bonus plus tickets to a Wizards game.
So what are the rates?
$700-$1500 a unit. I'm considering renting additional office space there. =) I was also told you could do adjoining units if you needed more space. Short term leases available and month-to-month. If you need a couple thousand extra this month and you know some small businesses that want to make a huge presence in Tysons Corner, have them call my friend Lily Nguyen at 571-332-1699.
Here's the info she gave me:
Founded in 2000 Executive Office Suites operates a full service office business center in the heart of McLean. Strategically situated on the "Hill" in Tysons Corner Executive Office Suites offers an alternative to the high rates offered by many traditional executive office centers and national brands. Above all, our space sets a new standard by offering up-scale work environments - without the high costs typically associated with executive office centers.
Our services include state-of-the-art office space, ideal for start-ups, multi-city organizations, and small users. We can provide your company with fully furnished office space, ready for immediate use, with flexibility for growth to meet the demands of your business. We also offer business identity services for companies who would like a business presence with the most prestigious address, but do not require permanent office space. These services include phone and mail services, and usage of our conference facilities.
Executive Office Suites has been created to answer the special needs of the service-oriented new economy. We offer highly flexible solutions to businesses of all types. Our high occupancy and low turnover are a demonstration of our commitment to customer service and satisfaction.
Services INCLUDED: Professional front desk Private furnished offices with a prestigious address Office support team to provide clerical and administrative assistance Spacious conference and meeting rooms equipped with state-of-the-art audio visual tools to facilitate multimedia presentations and teleconferencing Personalized telephone answering with automated call distribution, screening, paging, call patching and voice mail Mail handling, courier service and shipping Desktop Publishing Office equipment and services including copier, fax, printer, and internet stations Broadband Internet access using T1 facility Health Club with complete cardio equipment, weight equalized indoor/outdoor pools Long and short term agreements Kitchen Services
Technical amenities INCLUDED: Technical Assistance LAN Connectivity LAN Cabling Dedicated T-1 or DSL E-mail Accounts Domain Name Registration Web Page Design Web Page Edits and Updates Telephone Equipment Fax or Data Line Phone/Fax Installation Additional Voice Mailbox Video Conferencing Out Paging Call Patching
Please call her if you have any questions. Just figured I'll let you all know what I learned last night.
I post everywhere...never know where your next buyer is going to come from. Tina, if you have more to add, lets copy and paste each other's blogs to keep a current "master list going." Hope this helps you guys! I've picked up buyers from craigslist, zillow, and trulia last year and I'm sure the extra time I put here helps too. We're all going to have a great '08.
I also use zillow, trulia, craigslist, Lycos Real Estate, and Google Base.
I also place my listings on Realbird.com. It then submits them to google, craigslist, facebook, etc. Also...I do backpage.com. I'm sure you're already using those, but I thought I'd share just in case. I am always looking for free advertising!
In 2007, I lost 8 buyers to renting. I analyzed their situation and for most who were staying in our area for only a 2 year job assignmet or who was looking to capture huge real estate gains as we did through 2005; I told them my honest opinion and suggest that they rent. As I have mentioned in my other posts, I don't see us having huge appreciation gains for a while and for most in our area, tax benefits of homeownership alone does not justify buying then having to deal with a sale.
I will also let you know that if they insist on buying, against my advice...I will still help them. I think telling them my opinion and having them okay with it allows me to have a clear conscience. Who can relate? =) The good part is, some of those buyers turned renters will be back in the market in 2008 for a home. It's going to be a great 2008!
Felix Hung, Realtor
RE/MAX Distinctive
NVAR TOP PRODUCER 2005, 2006
NVAR Multi-Million Dollar Producer 2004, 2005, 2006
RE/MAX 100% Club 2005, 2006
Volunteer Wrestling Coach, GC Marshall HS, Falls Church VA
So you want to sell in this crazy unstable market and you're not sure if it's better to wait the market out or sell now. Let me give you some insight on some different strategies you can implement NOW and take control of your real estate portfolios.
"Regular Sale"
Sell it as you regularly would...you may have to bring cash to closing/settlement/close of escrow.
"Short Sale"
Have you over leveraged yourself? Is your ARM about to adjust? A short sale is when you sell your property for less than you owe, shorting the lender. This process gets more difficult if you have two loans, or if you have PMI.
"1031 Exchange"
Did you know that the 1031 Starker Exchange is not only for Gains but you can also Defer Losses? Yes, that's right. You can do on of the two strategies above and then defer the LOSS. Please consult a 1031 Attorney or 3rd Party Intermediary for more information. If you'd like me to connect you with one, please let me know.
"Lease/Option"
This is when you find a tenant-buyer for your property, you usually will find credit impaired people, and your job is to help them fix their credit issues so they can buy your home. Using this strategies usually yields you more rental income as long as it is a fair sales price in the end. If you google "lease option" you will find a wealth of knowledge. Please know I am also here if you have questions on how to implement this.
"Subject to"
Using this advanced investing technique is more difficult. You have another investor take over your property subject to the existing mortgages. For more information, you can contact Jason Hanson, a real estate coach who teaches investing at www.primocoach.com.
These are just overviews on these various strategies, if you live in VA and would like a private consultation, I can be contacted at 703-304-3560.
Felix Hung, Realtor, RE/MAX Distinctive, 2507 N Harrison St, Arlington VA 22207
NVAR TOP PRODUCER 2005, 2006
NVAR Multi-Million Dollar Club 2004, 2005, 2006
RE/MAX 100% Club
Former Combat Engineer US Army
Volunteer Wrestling Coach, G C Marshall HS, Falls Church VA
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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