| |
VERY good advice and tools in this article by Rebekah Radice!! Some of the links to free tools - a WIN for your tech bag!! Via Rebekah Radice Colorado Springs FHA Loan 203k, VA Mortgage, Loan Pre-Approval (Benchmark Mortgage, Colorado Springs FHA, VA, Pre-Approval):
We are living in the social media age of instant gratification. Everywhere we turn whether it’s Facebook, Google or our best friends blog; answers to our most pressing questions have never been more readily available. The Internet has become our go-to resource for content, but wading through the social muck can be a challenge. Creating your social media strategy and content cheat sheet can be a life saver.
As a real estate or mortgage professional, being online is now a requirement and no longer a suggestion. However, simply showing up online is not enough. Your social media efforts require that you not only engage an already over stimulated society but increase your bottom line by providing fresh, relevant content.
The problem with many marketers is the theory that you will simply build it and the fans will come. That's just not realistic within the online world. It takes time, commitment and creativity to cultivate a community. Building a content strategy and then creating a content calendar is an excellent way to keep you focused on the needs of your subscribers, fans and followers rather then bouncing day to day without direction.
Social Media Content Strategy
Multi Media
1. What niche or program can you spotlight? Whether it is you on screen or a screencast of your latest PowerPoint, connecting with your audience through video is imperative. A free program to create and share your screencast is Screenr. Just click “record now” and within seconds you are recording anything you can see on your screen. Then choose where you want to share your video instantly. Choose from Twitter, Facebook, LinkedIn and more!
2. Record an interview with a vendor such as an appraiser, inspector or plumber and talk about homebuyer concerns, challenges, tips and quick fixes. The amount of 60-90 second snippets you could create is endless!
3. Create a video where you answer buyer and seller frequently asked questions.
4. Discuss current events and explain what they mean to homebuyers and sellers.
5. Choose locations in your area and pass along fun facts and trivia. Pick a location to video yourself in front of and use it as a “Where’s Waldo” type of trivia question. It should be fun and easy to identify. This should generate a conversation between you and your Facebook fans and Twitter followers.
6. Record testimonials from your clients and post to your blog as well as your email marketing campaigns as a way to boost credibility.
Step-by-Step Guides:
1. Walk buyers through the 10 Mistakes Homebuyers Must Avoid or sellers through the Steps to Selling Your Home in a Down Market. Turn your article into a pdf and offer as an opt-in incentive on your website.
2. Take frequently asked questions and offer an instructional guide
3. Turn the home buying process into a step-by-step instructional. Not only do you allow clients to connect with you online and get a sense of how you will handle their transaction, but it's a great way to keep them informed by sending the video via email throughout the process.
How-to’s and Tip’s
1. Offer insight into the home buying process and your expertise on what a buyer can expect. What common issues do buyers and sellers face throughout the process? What problems/challenges can you offer tips or how-to's on?
2. Explain what the benefits are about:
- Homeownership
- Investment Properties
- 2nd Homes
- Staging Your Home
- Specialty programs such as the FHA 203k
3. Offer Weekly Tips or Tricks via video postcards. A free online tool I have used many times is Movavi. It's easy to use and the price is right!
4. Share slides from a recent presentation on slideshare and then copy and paste into a blog post.
5. Share thoughts, takeaways and your most important clips from conferences, seminars, educational trainings etc. through slideshows, screencasts and slideshare.
Blog & Social Media Content
1. Discuss highlights and share insights from recent industry events you have attended. It's a great opportunity to give clients a behind the scenes look at the industry and offer your feedback on what you learned or felt were the key takeaways.
2. Promote your videos by syndicating to 25 video sites at once through TubeMogul and then track your results through their detailed analytics dashboard.
3. Create weekly webinars related to buyer and seller FAQ, what buyers can expect throughout a typical transaction, how to navigate the home buying process or how to get their loan approved the first time. There are an endless amount of tutorials you could produce!
4. Revive past content by reposting videos, articles and trainings to Facebook, Twitter and Social Bookmarking sites. If you are a Wordpress user, a great way to revive old blog posts is through Tweet Old Post.
5. Ask via your social networks what the needs of your audience are and do this consistently. It’s an easy way to stay topical and on target with the information your fans and followers are hungry for. Then take this information and write a blog Q&A that responds to their questions or concerns.
6. Explain what a current event or topic means to our audience by either offering a unique perspective or offering the who, what, why and how behind the topic including the impact it will or could have on the industry.
7. Take common RE or mortgage myths and offer facts surrounding common misunderstood topics
8. Promote company news including changes, events, updates, promotions, new hires, etc to allow the community to feel connected to the brand
9. Survey your community through Survey Monkey or a Twtpoll about real estate questions. Top concerns, market myths and common misconceptions within the process and then use this information through an informational video or blog post. Share information in a way that solves a challenge, fulfills a need or offers support.
10. Share pictures as often as possible. If there is an event or conference you attend, post the pictures to your social sites and write a blog about it. You want your audience to become interested and engaged in who you are and where you are at all times.
11. Ask hypothetical questions or tell a story to identify buyer or seller needs and assist them in connecting with who you are and what your role is throughout the process.
One last thought I will offer is the importance of tracking your efforts and consistently evaluating the effectiveness of your message through social monitoring tools such as SocialBro, Hootsuite, Twitter Counter and Crowd Booster.
What would you add to this list?
Creating a Social Media Strategy that Doesn't Suck was written by Rebekah Radice.
I recently upgraded my iPhone to the 4S and love it. I also discovered the voice recognition software in the device, for things like sending text messages, asking for searches, etc. "Siri" is the personal assistant with the new OS - and she does a great job with web searches and even some fun banter with conversations!
I read an article which talked about blogging using this new system. You simply create a new email, dictate the sections, and send.
I thought - why not use this for my text addendum? This morning, I dictated my 1st 2 page addendum. I took each comparable and "TALKED" about it and why I made the adjustments I did, etc. I ended up with a 2 page text addendum which I simply emailed to myself.
I then, copied and pasted it into a Word doc, checked for grammar and spelling, and created my text addendum from there!
What normally would have taken me about 30 minutes to type, I had done in under 5!!
Technology at work once again!
I love Rachel Dollar and the Mortgage Fraud Blog! It is amazing to see the lengths people will go to steal and defraud!
This latest article drives home the point I often hear in appraisal forums and continuing education classes that, "mortgage fraud would be impossible without a complicit, corrupt appraiser". And this is true.
Note the story in this weeks "Perp Walk" newsletter:
He admittedly purchased, along with others, a residential property but failed to disclose to the mortgage lender that US Appraisal had handled the appraisal.
Mortgage Fraud Blog - Appraiser Admits Role in Mortgage Fraud Scheme http://bit.ly/vzt69G
I guess there is no straighter line to mortgage fraud than owning your own appraisal management company! There is a REASON we need checks and balances between big banks and big appraisal management companies.
The state of Florida now allows you to search for appraisal management company licenses, either approved or in the works. It will be interesting to see how many complaints get filed in the 1st year against entities behaving badly.
A recent article indicating that FHFA is taking action against some lending institutions, should get you thinking. Are any of these lenders listed in the article below YOUR clients (present or past)? And if some examinations of the appraisals done in the portfolios should make their way to any you have done, do you have a well documented workfile to withstand an investigation?
Questions that should make us revisit our workfile policies, storage of files, and appraisal practices.
FHFA Sues 17 Banks to Recoup Mortgage Losses
The Federal Housing Finance Agency announced Sept. 2 that it filed suit against 17 of the nation’s largest financial institutions to recoup billions in losses from the sale of soured mortgage-backed securities to Fannie Mae and Freddie Mac.
The complaints, which were filed in federal courts in New York and Connecticut and in state court in New York, alleged violations of federal securities law and common law in the sale of residential private-label mortgage-backed securities to the two government-sponsored enterprises, the FHFA reported. FHFA is conservator of Fannie Mae and Freddie Mac.
The FHFA alleged that portions of the losses that Freddie and Fannie incurred on private-label mortgage-backed securities were attributable to misrepresentation and improper actions by banks, namely that the characteristics and descriptions of the loans were different and riskier than what was contained in the banks’ marketing and sales materials.
The complaints also alleged that loans were made to look less risky through inflated appraisals. Mortgage originators, among others, are alleged to have pressured appraisers to furnish inflated loan-to-value ratios that overvalued properties. Inflated appraisals were reported to be especially pervasive when originators packaged mortgages to be sold for securitization, which resulted in lower LTV ratios and therefore appeared less risky
The complaints seek damages, civil penalties and compensatory damages for negligent misrepresentation. The amount the FHFA seeks to recover, however, is not expected to equal the amount the GSEs paid for the MBS.
The suit is similar to one the FHFA filed against UBS Americas on July 27. In that case, the FHFA alleged the bank made false statements about 16 mortgage-backed securities it sold to Fannie and Freddie between 2005 and 2007. FHFA is seeking $900 million in damages in the UBS.
To date, the U.S. has spent $141 billion to shore up Fannie and Freddie, and has recovered about $18 billion from banks since the beginning of 2010, the FHFA reported.
Institutions named in the Sept. 2 complaint and how much the GSEs bought from each:
- 1.
- JPMorgan Chase: $33 billion
- 2.
- Royal Bank of Scotland: $30.4 billion
- 3.
- Countrywide Financial Corp.: $26.6 billion
- 4.
- Merrill Lynch: $24.8 billion
- 5.
- Deutsche Bank: $14.2 billion
- 6.
- Credit Suisse: $14.1 billion
- 7.
- Goldman Sachs: $11.1 billion
- 8.
- Morgan Stanley: $10.5 billion
- 9.
- HSBC: $6.2 billion
- 10.
- Bank of America: $6 billion
- 11.
- Barclays: $4.9 billion
- 12.
- Citigroup: $3.5 billion
- 13.
- Nomura: $2 billion
- 14.
- Société Générale: $1.3 billion
- 15.
- First Horizon: $883 million
- 16.
- Ally Financial: N/A
- 17.
- General Electric Co.: N/A.
Great discussion on this blog about the differences (and expectations) between BPOs and Appraisals.
Someone questioned on this article "who regulates appraisers?"
I DO, as do other appraisers and our state licensing board. When have you ever heard of a Broker or agent losing their license over a faulty, over inflated, or poorly documented BPO?
But there are appraisers who have lost their licenses due to poorly supported, documented and faulty appraisals. We DO have an industry which can be regulated, provided parties are paying attention and are willing to act.
Anyone who has access to the appraisal can have that appraisal reviewed and if found to be seriously flawed, can make a complaint to the state licensing board. I have watched recent Florida board minutes where numerous licences were REVOKED.
When does that happen with BPOs?
This is why appraisals SHOULD be treated with higher regard, better due dilegence, and given greater weight in lending transactions. Via Patty Da Silva, CDPE - Davie REALTOR® - Certified Distressed Property Expert (BROKER of Green Realty Properties® - 954-667-7253):
Today I want to address a question that I have long wondered about and have no good answer for, and that is  why are BPOs ordered by lenders for short sales instead of appraisals?
Let’s think about this, and look at a few examples. When an investor, such as Fannie Mae, "invests" in a mortgage loan, they won’t accept a loan without an appraisal. Similarly, before a lender approves a loan, they don’t order a BPO, they order an appraisal. The most puzzling and irrational example is when the buyer and seller have the same lender...which is common with the larger lenders. I have seen the same lender, in the same transaction, order a BPO on the seller’s side, and then turn around and order an appraisal on the buyer’s side. Of course the BPO is always inflated, and somehow the same property has suddenly lost $50,000 in value in the weeks it took for that lender to approve the short sale. Why do BPOs even exist as the deciding factor on a short sale transaction?? Why can’t appraisals be ordered by all sides? Some can argue because they save time and money, but do they really?
For argument’s sake let’s say it costs $100 to hire a BPO agent to do a BPO, and roughly $400 to hire an appraiser to do a proper appraisal. It costs $100 to hire someone who isn’t necessarily licensed (and definitely not regulated), to spend less than 5 minutes in a house, and to not take into account all the factors an appraiser would. I have heard BPO agents say that they do 500-600 BPOs a month. That’s impossible for ONE person to do! We have all heard that some of these BPO agents hire (unlicensed) people to drive around and take pictures of the outside of the property, and I have actually seen BPO agents recruiting these drive-by photographers on Craigslist.
Now let’s juxtapose the BPO agent against the appraiser. An appraiser is a qualified professional who goes through serious training, and then is supervised for two years before being able to work on their own. Plus the appraiser’s sole objective is to appraise the property; they don’t do it in hopes of getting REO listings from the banks. Appraisers are qualified to appraise, take the time to take all factors into consideration, and generally speaking, give fair market values. They are regulated and are subject to consequences if they don’t do their job right.
Don’t get me wrong, I know that there are bad appraisers and great BPO agents, but that’s not the norm. We are in a serious mess and its being exacerbated for what? Lenders think that they are saving time and $300 per property, but in reality, thousands of hours are wasted disputing BPO values and getting nowhere. It takes time to dispute a bad BPO value on a file, months to resolve the issue with the lender… months that the property sits on the lender’s books, the sellers and buyers are left in limbo, while values continue to drop.
Can’t we put an end to this insanity? Please! Lenders/Investors are losing thousands and thousands of dollars on short sales and foreclosures, yet they are worried over a $400 appraisal? Am I the only one who is confused about this lack of common sense?
Lender and Investors: PLEASE…JUST ORDER AN APPRAISAL AND HELP US HELP YOU!
Help lots of people and have a great day!
Patty Da Silva, CDPE©, RESS®, AHWD®, e-PRO®, GREEN, CFS, TRC, RSPS
BROKER - REALTOR® Serving South Florida ::: 954-667-SALE - Green Realty Properties®
Visit www.PattyDaSilva.com & www.GreenRealty.net for SouthEast Florida's best properties.
 
Copyright © 2008 - 2011 By Patty Da Silva, CDPE©. All Rights Reserved.
Legal Stuff: This article (Contents) reflects the opinion of the author and it is not to be considered legal advice. The author is not an attorney or a CPA. If you are in need of legal or tax advice, it is recommended that you to contact a trusted professional advisor.
I read an interesting blog article today ( http://bit.ly/mMlEUq) which talked about the impact of the Dodd-Frank act.
One paragraph which stood out to me was :
There is an implied pressure on any provider (in any industry) whenever that field is dominated by so few players. Witness the LSI's and CoreLogic's Valuation Services of the world choosing to maintain their pricing model to appraisers in the face of Dodd-Frank's bright line. They operate on the 'law of large numbers'. The amount of money they can make in the time it takes any regulatory agency to find them at fault will vastly exceed any potential fine they may incur. One could argue that HVCC was created to protect appraisers from bank pressure when, in my opinion, it was a vehicle to enhance capture rate for lenders and seed control over the appraisal process - a goal of large lenders for decades.
Case in point, CoreLogic's "standard' single family appraisal fee is $200 to the appraiser. A "moderately complex" assignment gets a whopping $25 more! But what is "moderately complex"? Something over 4,000 sf, a mansion on a 3 acre lake front parcel?
It should not be the case that some appraisers have adopted the "you'll get what you pay for" view on new assignments. But I DO understand the frustrations! In a time where many appraisers were hoping to put an end to the constant battle for regular fees, the tide only swept back out underneath their feet again!
I remember back in 2004 during the housing BOOM - there was a huge need for appraisers. There was an abundance of new loans, and not enough appraisers to do them. So supply and demand created scenarios where appraisers were booked up 2 weeks out, and fees climbed to around $450 for a single family home.
My real question is this. Do the management companies and lenders show the actual fee to the homeowner? Does the homeowner still get charged $450 for an appraisal and how would they feel if they knew the man or woman who spent an hour at their home was only getting $200? Or maybe the appraiser, fed up with all the tensions, didn't even measure the home, snapped a few photos, zipped in and out in 10 minutes because they felt, "the lender is getting what they are paying for".
I have heard many of the latter from homeowners who told me "the last guy was only here for 10 minutes!!" while I explain that I plan to measure the home's interior and exterior, do a full floor plan, photograph, interview them for updates, etc. In the end, the homeowner's express to me that now THEY feel they are getting what THEY are paying for.
It's an ugly climate out there. The tensions and negative attitudes are only growing. Appraisers are electing to retire rather than put up with the new requirements, low fees, and increased pressure for fee and turn time. And few are entering the profession.
Perhaps in a few years, we will see another upswing of need for appraisals and then very few appraisers left standing to provide the services. Who will determine what is 'customary and reasonable' then?
EXCELLENT article on the need for personal branding! I have multiple brands for multiple businesses. The $7-8 per year for each domain is WELL worth it! Even if you have your own site with your MLS - why give someone such a long URL to reach you?
www.MyMLSSystemPage.com/MyPersonal_Site is too long! Why not use your own www.YourName.com and direct the domain there? No hosting, no extra work? But a lot more professional look for sure!
Clever ideas can come to mind - for instance my http://FreedomBy2.com points to an already made affiliate site - an alternate business I am building - but why give out such a LONG URL when GoDaddy.com and others make it so cheap and affordable?
www.TheBestDamnRealtorOnThePlanet.com is a long name..but catchy at least!! I bet that one will be taken soon - as of right now, I think it is available!!! Via Mimi Foster - Realtor Colorado Springs (EPIC Real Estate Group Real Estate Colorado Springs):
If you have constructive comments for this post, whether you agree with me or not, feel free to post them. If it is a personal attack, I will delete it. If you want me to know that you think I'm a moron because I think it is unprofessional to have an AOL email account for your business, then send me an email. This post was advice on showing you how easy it is to look more professional. The really nice thing about advice is that you can take it or leave it. (And for those of you who love your Gmail and want to keep it, see Comment #172 to find out how to use a professional name AND your Gmail.)
A large number of my friends are Realtors, mortgage lenders, stagers, inspectors, people IN the business of real estate. I am constantly amazed at how unprofessional they appear when they send me an email and their email address is johndoe@comcast.net or marysmith@gmail.com or even bestrealtor@yahoo.com. My first thought is "WHY?" My second thought is always "Do you know how incredibly simple it is to get your own name or company name or exclusive name and have an email account to go along with it?" NO? Let me tell you how easy it is. You are a business professional - present yourself as one!
I got twelve emails today from fellow real estate professionals that had a non-specific email address. Let me tell you how easy it is to get one:
- Go to www.GoDaddy.com
- Our example will be GoDaddy, but there is also www.networksolutions.com and www.hostgator.com and many other sites available to purchase domain names
- If you do not already have an account, set one up. It's FREE
 - Where the space is to the left of (the very attractive) Danica Patrick, type in YOUR NAME, or your COMPANY NAME, or your AREA, or your NICHE, or your NICKNAME, or whatever else you want to be known as. Heck, try SEVERAL names and see what's available
- There is a site called www.RetailMeNot.com where you can go and get a coupon and only pay around $7.99 (type in GoDaddy in the upper right corner search feature), but whether you do that or not, then
- Pick the best name, or pick several names, and PAY $11.99 each and BUY IT NOW. DON'T WAIT, GET IT (or them). You are entitled to one free email account for each name.
- You can forward these to your regular email account. If you don't know how to do that, GoDaddy has a FREE 24/7 phone line to answer your questions and help you set things up. They are VERY friendly.
- Start letting other people know that YOU take your business seriously enough to get a domain - with an email account - and that this is not just your part-time job.
WORD TO THE WISE: On your way to the checkout, you are going to be UPSOLD - meaning they are going to try to sell you a lot of things you don't need! Don't do it! You just need the domain name. You don't need all the bells and whistles that they are going to try to sell you on your way to them getting your credit card number. Just get whatever domains you want to purchase, for one year or two or however many (there is no discount in purchasing multiple years), and just keep clicking "Continue to Checkout" until you get there.
So suck it up, play like this is your profession, and change your email address to Mimi@DowntownMimi.com or Mimi@MimiFoster.com or Mimi@RealtyCoSprings.com (well, you can't have those, but you know what I mean :) ) I'm sure there are lots of people around here who will help you if you get stuck. I know the basics, but I'm sure we can come up with some answers! Good luck!!!
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
      
Selling homes throughout Colorado Springs, Old Colorado City, Manitou Springs and surrounding areas with a Specialty in Victorian and Vintage Homes in
Downtown Colorado Springs
A recent report from the Florida Realtors site today, reported Orlando as one of the top 11 ‘combacks’ for 2011!!
I also heard the ads on the radio, sponsored by the Orlando Realtor’s association – about how NOW is a great time to buy
I would have to agree with them too! Judging from the recent absorption rates in Orlando, it seems like trends may be turning! There is still some uncertainty with the “shadow inventory” we hear about – but depending on if that is a trickle or a DUMP into the market – we may see a bottom on the market this year! (FINALLY!)
Although my workload is still not seeing much by way of refinance or purchases (except REO purchases) – but then again, some of the ‘cheaper/faster’ appraisers out there may be interpreting “Customary and Reasonable” fees in a wholly lower fashion than I do!
Good luck Orlando!
All one can say is…..WOW.
Now, after you pick your jaw off the floor – GET EMPOWERED! If you are facing foreclosure…..FIGHT!
This is a great bit of advice for appraisers these days too! Especially in light of the newly enacted Dodd Frank "C&R" fee issues! I have witnessed (and sadly participated in) some of the 'viral bashing' here.
It is very easy to complain about the negatives. It is much more difficult to isolate the solution and focus on the needed change. While we need to ring the bell to wake up some of the appraisers in this country - we also need to more loudly sound the charge to move our profession farther up the mountain! To raise our own standards of quality, customer service, and attitudes. While not losing sight of the fight - we can certainly begin to realize the very power within our own hands!
What are the SOLUTIONS to customary and reasonable fees in our markets?
Via Debe Maxwell - Search Charlotte Homes for Sale - Charlotte NC Neighborhoods (Savvy + Company Real Estate):
Social Media Suicide - DON'T DO IT! Protect Your Reputation at ALL Costs
 I don't know what it is about this time of year but, I do believe that we're all just a bit testy from being confined to indoor spaces. We're ever so ready to get out into the spring weather that's just not quite here yet...almost but, not quite! During this 'closed-in' season, I've seen friends, acquaintances and fellow business owners who are typically gracious, informative and hospitable, either writing inappropriate commentary or joining in on a virtual 'bashing.'
The news is full of social media negativity and numerous social media participants have lost jobs, been asked to leave schools and been banned from professional associations because of this type of behavior. They feel that as Americans, our freedom of speech will protect them. These social media participants don't realize when they're commenting negatively that they're truly hurting their own businesses and their personal reputations as well.
Here are a few thoughts gleaned from recent conversation and experience pertaining to protecting our reputations:
- If you don't like or agree with something that you read, just move on. Think of it as holding your TV remote--if you scan past a program that does not interest you, don't you just click the remote and move on to something that does strike your fancy? Do the same with your reading.
- Remember what our grandparents said, "If you don't have anything good to say, don't say anything at all!" Now, I know that a healthy debate is just that...healthy. However, berating others and putting them down is not debating them. Rather that form of 'debate' is unhealthy and truly looks poorly on the one who is making the negative comments, NOT the one with whom you're disagreeing.
- If you love a good debate, remember to stick to the facts of the topic--nothing more. Calling someone an 'idiot' just because they don't agree with you is not debating, it's name-calling and can be viewed as libel, which is a criminal offense. So, if you know you can't debate without name-calling, then hit that channel-changing button and move on!
- When prompted by one cyber-bully to attack another, don't do it! Don't be sucked into the negative energy that could also destroy your own reputation or business. It's simply not worth it...again, move on to the next article/post/comment where ever you're reading takes you.
-
As REALTORS®, we are also bound by our Code of Ethics, RESPA / Fair Housing guidelines. Many of the statutes not only apply to our clients but, to one another. Keep these in mind when making commentary online. I recently learned that there are people out there who are PAID to find these comments and report them to the appropriate Boards, Commissions or federal offices. It's just not worth losing our licenses over making a comment that we feel makes us look good (which only works that way to ones self, not the general public) or to make simply someone else look bad.
We have enough negativity in our business these days; a common link in the make-up of those who remain in our business is their positive attitudes. Stay that course; don't stray from it. You don't EVER want to risk social media suicide!
|
|
Richard D Ferris Florida State Certified (FHA) Appraiser
Clermont,
FL
More about me…
AmcAppraisalsinc.com
Address: 10535 Summit Lakes Ln, Clermont, FL, 34711
Office Phone: (877) 789-5249
Cell Phone: (347) 669-4266
Email Me
Appraisal related topics, market reports, and valuation issues
 Listings
Links
Archives
|
;)
;)
;)
