Oh my goodness!
When will we every get it? To my Realtor friends - change your strategy in 2009. Learn the basics and then the fundamentals of Real Estate finance, unless you only plan on doing business with both cash buyers in 2009.
Long gone are the days of PRICE being the only benchmark for Real Estate Sales. Negotiating the TERMs of a real estate transaction is paramount to the forward success in Real Estate sales and marketing. Terms means using interest rate buydowns (temporary or permanent), discount points, closing costs as a primary means to negotiation rather that focusing on already stressed sales price.
Find that locally owned mortgage banker/broker in your community that has resume, history and knowledge. Your "Inside the office loan officer" only serves to pay your broker's rent. As an independent professional REALTOR, make independent decision on who can help you learn to be a better Real Estate agent and teach you financing.
Use a Lender based upon knowledge and experience rather than donuts and kickbacks, you'll sell more homes and gain alignment with the heartbeat of our industry.
Have a great 2009.
Rick Parker
www.directorsmortgage.com
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