I got a battery yesterday.  It is an Optima Yellow Top.  For people that are outside of the off-road or racing world... big whoop, right? 

But there is a little backstory here. 

I won the battery at an event called Mud4Blood.  It is a blood drive in the Atlanta area off-road community.  LifeSouth does the collection, and it is one of their largest one day collections each year.  Part of the event is a raffle... and I won the battery.  These aren't from the discount rack at the auto parts store up the street... these are almost $200... and they are vibration resitant and can't spill. (blah, blah, cool stuff, blah)... 

Actually... I got a certificate for the battery... and promptly misplaced it in my office.  It was good for 6 months... and the six months expired a week before I found the certificate.  I mailed it off... I wrote a little note explaining what had happened...  A couple of weeks later, I got a battery... yesterday. 

They could have VERY easily denied the FREE battery... the certicate had expired...

This morning, I was wandering through my reading list and I hit upon a blog by Seth Godin.  Embracing Lifetime Value.  In the post, he talks about how companies toss away customers that deliver thousands of dollars in profit over their lifetime for just pennies. 

To get a new customer, many companies will spend hundreds of dollars in marketing.  That customer might be worth thousands of dollars in profit.  And yet, instead of spending $20 to retain the customer... they clam up and send him elsewhere... 

How many times have you dealt with the cell phone company, the cable company or the local auto dealer and had them lock down over nothing?  I dropped a satellite provider.  We were having a hard time with equipment and had been trying to get it upgraded to what they were giving new customers.  It wasn't until we had signed up with a new company that they offered to do just what we had asked for to begin with...  That was five years ago.  How much have they lost in that five years?  

Isn't it easier just to make people happy?

How can we apply this to real estate?  What can WE do to make our customers want to stay with us?  Optima sent me a battery... I didn't buy it, it was free... I won it.  But they had an out and didn't HAVE to honor the certificate.  Instead of a happy customer, they got a fan.  How much might I be worth to them in the future?

A while back, Brad and/or Bobby Carroll made a VERY valid point about online identity... specifically, having a cohesive design theme throughout your sites. 

I've crunched this over for a few months... looking at a few options... and finally started down the path of making several of my sites more complimentary in their design.  Now I haven't built myself to the Mike Mueller level of FaceBook Fan Page design, nor the Dakno level of Posterous themeology, but my blog and my site are now almost seamless in their themes. 

Posterous is presenting a little more of a problem for me.  I am NOT fluent in .css...  I can kind of muddle around, but to me it's like working on the Jeep in the dark.  What I AM able to do is use a few key colors from my other themes so that there is a little cohesion. I'll call Dakno (not an affiliate link) when I'm ready to push that site to the next level...

On FaceBook, I don't have a prayer.  I don't think there is a way to make the site all look like my other sites, but I do know that I can build a landing page that IS keyed off of my other sites.  OK, I can't...  For me that would be working on the Jeep in the dark without a flashlight.  I'll call Mike Mueller (not an affiliate link) when I am ready to tweak out that presence...

The company that I have used for my Joomla (GarageHomesUSA.com) theme for the last few years has just started working WordPress themes.  BOOyah!  So, I have migrated LaneBailey.com over to the theme I have been using on GarageHomesUSA.  After a little tweaking (and some EXCELLENT support from the staff at RocketTheme - affiliate link) I have something I really like.  There are still a few things that I want to tune... but there are ALWAYS a few things I want to tune. 

Finally... my ActiveRain blogs...  On my "outside blog", GwinnettGarageGuy.com, I am working on tweaking it.  There isn't as much control as I'd like... except for the Chameleon theme... which would be a bit dangerous (remember, I'm NOT fluent in .css).  For the "inside blog", it is easier to tune the theme, but there are a LOT of restrictions.  For example, I can't deploy a dark theme or add artwork in the text or sidebars.  And unlike WordPress or Joomla, there aren't pallets loaded with themes sitting around on the virtual loading dock. 

So, for the moment, I guess I'm fairly good.  For the moment.  Fairly. 

***All of the links are different... some of them are pretty cool.  The others are mine.***

Ken has knocked a few posts out of the park recently.  This is another.  The 203K may be a great option to make that house that is "almost" into a house that "is"...  Ken and I have worked together and can get the job done for YOU...

I've talked about it, as have many others... 

Social Media Plan...

But is it even possible?

During this morning's Social Media Breakfast - Atlanta, one of our members was talking about social media planning... and something occured to me.  Just moments before, we were talking about how social media tools had changed dramatically in just the last few months.  So...

How can we make a plan for a rapidly changing landscape?

Can a surfer make a plan for the wave?  Or does the wave unfold and he reads it and responds? 

It would seem obvious that while a surf has an idea of what he wants to accomplish, and generally how he wants to accomplish it, planning the steps can be a trap.  The wave will probably break one way... but may break another.  The wave may offer a tube opportunity, or it might close up and trap you.  Or you might just sit on a board all afternoon waiting for a good opportunity... 

But, you can't sit on the beach and decide how it is going to go... and you can't even paddle into the wave knowing exactly what you are going to do...  You have to rely on guts and experience.  And you have to be ready to change everything you are doing at any moment. 

I think that is a WHOLE lot more like Social Media than planning a marketing campaign...

Settle for an idea...

Maybe a destination...

Perhaps even the board...

But know that the scape you are looking at from the beach won't be the one there when you are sitting in the water.  And the waves that pass you by won't be like the one you try to ride... and it will change every inch of the way to shore. 

FaceBook changed everything > Twitter changed everything > Posterous changed everything > ???

A few days ago I wrote about how the purchase offering process is having issues… issues that are especially apparent on Bank-Owned Properties (we call them REOs).

Banks are often requiring that ALL offers be accompanied by pre-qualification letters from specific approved lenders (perhaps even from their own loan department).  In other cases, the brokers representing the properties are interjecting this “requirement” on their own.

This morning, local (and nationally syndicated) radio talk show host, Clark Howard mentioned one of the reasons that these things chap my hide.  The specific reason he doesn’t like them is that the “credit pulls” for the pre-qualifications can actually damage the credit of the offeror (buyer).  It isn’t one or two credit pulls that will likely be a problem (unless one is marginal to begin with)… but rather repeated pulls after multiple attempts to buy properties.

I have worked with buyers that offered on 7 or 8 properties prior to having an offer accepted. There is a tremendous amount of competition for these properties in some instances.  A buyer might get lucky and get a house right out of the gate… or they might have to go through multiple offers on properties and several pre-qualifications before getting an offer accepted.

There is also the fact that the buyer has to deal with the inconvenience of going through pre-qualification over and over. My buyers have already been pre-approved by their own chosen lender, so the pre-qualification is unnecessary.

And there is yet another issue here…  The reason for the requirement is that it gives the specified lender an opportunity to get the loan business.  That would be good, except that on more than one occasion, the specified lender has been nothing but a delay; in some cases unable to follow through on promised rates, and in other cases not being able to match the timelines of the seller that their own lender could meet… resulting in the loss of earnest money (we ended up finding a better house and saving WAY more than the lost earnest money).

I’d love to see this practice stopped…  The problem is that consumers can’t control it.  The properties are good deals, and if someone passes on the deal because they don’t want to have their credit penalized, there will be a line behind them willing to take the risk.

from LaneBailey.com

One of the things I find useful after a great day of tech training is to take a day to concentrate on implementation. 

#VREBC...  COOL!

Hundreds of "tech forward" real estate professionals around the country took time out of their schedule to attend one or more of DOZENS of webinars for Virtual rebarcamp.  But it doesn't matter if the event is an rebarcamp, REtechSouth, RainCamp or something else... the idea is the same. 

Learning is cool... but IMPLEMENTATION is KEY!

Taking a decmpression day is a good idea.  When I am done, I have hundreds of ideas and notes and possibilities swimming around in my head.  Without a techstaff and a grant, there is no way to do everything.  So having a little while to step away from it all allows me to boil it down to what REALLY needs to be done. 

Last night I didn't look at my notes.  I didn't make any radical changes.  I did a few things, but none of them were a direct result of #vrebc.  But today is a little different...  Today will be an implementation day.  I will be making at least 6 important changes to my primary websites.  I'll also be looking at about a dozen websites to see what I can take away from them... 

And there are still several sessions from #vrebc that I didn't get to see...  I might try to see if those are available yet.  I know that at least one of those will be causing major changes in my web presence (Posterous). 

So, here is the drill:

• Get ready to learn... have the notebook, netbook, paper and pen... whatever...
• Learn, take notes...
• Meet new friends...
• Step away from it for at least a few hours, but not more than a couple of days (I like one day)...
• Sit down and concentrate on implementing the cool techniques and technologies...
• Look at ways to make the implementations better...

• Get ready to learn...

And so the process begins again. 

Remember...

Learning is great, but if you don't implement the cool stuff that you learn, you wasted your time learning it.

I have found the weakness in Thunderbird and Lightning (Thunderbird's calendar component).  It is something that Outlook does exceedingly well...

A Calendar with recurring tasks...

It seems so simple.  Being used to Outlook, I took the simplicity of making recurring task items for granted.  In fact, much of my online activity is driven by the simple lists of recurring tasks...

• Active Rain posts
• LaneBailey.com posts
• LaneBailey.info posts
• GarageHomesUSA.com posts
• LilburnDwellings.com posts
• FaceBook Fan Page updates
• Social Media Breakfast Atlanta meetings
• Club Meetings
• ... you are getting the idea...

Especially for items that I only do every few days, I count on the task lists to stay on top of everything. 

Not enough to dissuade me...

Since moving to Thunderbird, I have been able to "upgrade" to IMAP mail sync instead of POP.  The primary advantage of IMAP is that when I recieve mail on my phone and read it, it is flagged as read on my computer.  Another benefit is that email is delived immediately, not on a schedule (every 10 minutes, or whatever the user sets...).  The email client stays connected to the email server. 

There are also custom tags I can apply to my mail... and a lot of other little things.  I'm still thinking that I want to stay with Thunderbird, BUT...

Does anyone know of a free "To DO List"?

I'm looking for something that supports recurring tasks.  I want to set some up to recur each weekday.  Others need to happen every 4 or 6  or 10 days.  Others recur monthly or on the "first Saturday of the month" or similar... 

Ideas?

We are pleased and excited to announce the roll-out of a new program for buyers...  Job Loss Insurance. 

This is a cool program to take a little bit of apprehension out of buying a home.  In effect, it is an insurance policy that protects the buyer in case of job loss.  The policy will make up to 6 payments during the first year of ownership if you lose your job involuntarily (two periods up to 3 months each).  It is available with coverages up to $2000/mo. 

In addition to the year of job loss/mortgage payment protection, the policy also offers two years of other benefits, including foreclosure mitigation. 

This program is offered exclusively through Lane Bailey of Diamond Dwellings Realty and Ken Cook of AmericaHomeKey, Inc. mortgage to qualified buyers as well as on selected properties represented by Lane. 

For further program details, contact Lane or Ken. 

Now may be the right time to buy. 

• Prices are excellent.  Many areas in the Atlanta market have seen declines from last year, but have stabilized in recent months. 
  
• Interest rates are still near lows we haven't seen in decades, and structurally can't go much lower... and with the increased federal government borrowing, are almost certain to rise.  
• Inventory levels are down from last year, but still pretty high... this means that selection is generous.
• There are tax credit programs for many first time home buyers AND move up buyers.
  

So, with great prices, lots of choices, excellent terms and even tax credits for buyers, this is a great time to buy, and with this new job loss protection, may be a great time for YOU to buy. 

Lane and Ken can't offer this program at no cost to buyers for long.  The tax credits from the federal government are set to expire in just a few months.  And here in the Atlanta area, the best bargains seem to be between November and January.  Don't delay. 

from LaneBailey.com

It doesn't matter whether you agree or disagree...  You'll probably be mad about this, so go ahead and get fired up. 

The vast majority of real estate agents are honest, ethical and hard-working.  But there are some that don't hit all of those points... either by choice or by circumstance.  And those people need to be rooted out.  Their behavior needs to be corrected or they need to find another line of work. 

One very easy way that incompetent or unethical agents show themselves in in the presentation of offers. 

§ 10-6A-5. Duties and responsibilities of broker engaged by seller
    (a) A broker engaged by a seller shall:
        (2) Promote the interests of the seller by:
           (B) Timely presenting all offers to and from the seller, even when the property is subject to a contract of sale;

I added the bold, and this is a passage from the Georgia Code defining Real Estate Brokerage.  Please note what this DOESN'T say.  It doesn't say:

• Present offers after we think sufficient time has passed to hope that there will be other offers.
• Present offers after we make sure that we don't have a buyer of our own to present.
• Present offers after making sure that the buyer jumps through a pantload of hoops first.
• Present the offer we like. 
  

If there is a shortcoming to the rules, they aren't specific.  Any lawyer and most brokers will know that there isn't a definition to "timely"...  It is left to the court to decide during a lawsuit.  And the lawsuit is tough because we don't know when the offer is presented to the seller. 

Heck, in many cases we don't know IF the offer was presented to the seller. 

There needs to be a mechanism...

Every offer should get two written acknowledgements. 

• Acknowledgement of receipt by the seller's agent, showing when it was recieved and when it was forwarded.
• Acknowledgement of receipt by the seller, showing disposition if it isn't accepted.  

These reciepts should be emailed (or faxed for those in the "fax age") immediately upon acknowledgement, and sending the receipt should be the noted time.  This would prevent the selling agent from fudging the times or dates "by mistake". 

Part of the reason for this is that institutional sellers are notorious for ignoring the deadlines on offers.  And their agents have become just as notorious.  Those are also especially prone to ILLEGALLY refuse to present offers without requiring buyers to complete extra steps. 

Sellers can require that a buyer pass certain tests, such as pre-qualifying with a specific lender (although they cannot be forced to use that lender), but for the purposes of the offer, any agent or broker refusing to present the offer is breaking the law.  The same goes for "lender packages" and other superfluous paperwork or requirements. 

I have told seller clients flat out that I am bound by law to present every offer.  They obviously don't have to accept any offer... but they are going to see it.  And despite having sellers on other continents or vacationing, the longest it took me to get a client an offer was one and a half business days.  (He was 75, didn't use email, and had moved to Italy.  I had to send the offer to the local US Consulate for him to pick up.)  I had an answer within 3 business days...  Sorry, but dealing with a "monster mega bank" shouldn't be harder... they have a department. 

And this whole business of requiring buyers to complete pre-qualifications is out of hand.  With the large number of REOs that are getting multiple offers, a buyer might have to get pre-qualified several times before getting an offer accepted.  All of these credit pulls aren't great for the buyer...  Not to mention that his personal information is with not just one, but maybe five or six different lenders. 

The bottom line is that WE (real estate professionals) need to clean house or lawmakers are going to do it for us.  And since they don't know or understand the business, there will be a LOAD of unintended consequences.

The First Time Home Buyer Tax Credit isn't just for First Time Home Buyers anymore. 

Previously the credit only applied to purchasers that hadn't owned a home during the previous 36 months, and that restriction still applies for crediting the full $8000.  Here is a little bit about the old credit. 

The new credit was expanded:

• It is still 10% of the purchase price, up to $8000 for first time buyer and up to $6500 for move-up buyers.
• The income limits have been raised from $75,000 up to $125,000 for singles or $225,000 for couples.
• The deadline is now April 30th, 2010 to be under contract, with closing to be completed by June 30th.
• Purchase price must be under $800,000. 

That might seem like a long time, but lending guildelines have become a bit more snug, and even with the additional five months, short sales aren't certain to be completed on time.  And in the Atlanta area, spring is usually prime buying time, so there will be more competition for good entry level homes. 

from LaneBailey.com