Amber's Blog

What do you say to homeowners to identify a short sale listing? THE SCRIPT

Amber Gunn (Open to Close) — Mon, 09 Nov 2009 04:51:55 -0600

Short Sale Process: Script for the Homeowner

How to handle the short sale process of dealing with distressed sellers and setting up short sales in three (3) steps:

1. Pop the Question
2. Gather Information
3. Set Up a Face-to-Face Meeting

Step #1: Pop the Question

Your first questions in the short sale process are what determine what route you'll take with helping the homeowner solve the problem. The first questions should be:

"What would you like to see happen?"
"What if that plan doesn't work?"
"What are you willing to sacrifice to keep your home?"
"On a scale of 1-10 how bad do you want to keep your home?"

The short sale process begins here if they are interested in selling. In most cases, homeowners who want to sell have either made up their minds that the property is no longer wanted and they simply wish to sell, or they have tried some of the more popular means if solving their problem by either attempting to refinance or selling through a real estate agent. If, on the other hand, they want to keep the house, this is a good place to discuss whatever workout options they may have and help them explore those. Share with the homeowner that they have basically eight (8) options to handle the foreclosure. They are:

· Renegotiate the loan

· Reinstate or redeem the loan

· Give a deed in lieu of foreclosure to the lender

· Seek a legal delay

· File for bankruptcy

· Sell the property

• Do nothing

Other "workout programs" (designed to help the homeowner keep the property) are available but cost the homeowner money that they may not have. For example they can renegotiate their loan but that costs money to get the loan current. If they want to hire an attorney and seek a legal delay, that also costs money. If they have the time they can sell the property, but their debt swells with late charges and penalties.

At this point in the short sale process you can be assured you've demonstrated you know more about the foreclosure process than they can ever hope to know. You've positioned yourself as a trusted adviser, and potentially a solution to the problem. Now it's time to offer a creative solution. Advantages to the short sale for the homeowner:

•· Their credit is only damaged for 2 years instead of 7 years with a foreclosure.

•· They are able to stay in their home "rent free" for an extended amount of time, waiting for the short sale process to take place. This could take anywhere from 45 days to more than 12 months. The homeowner is able to stash cash to get back on their feet once all of this is over.

•· The stress of the situation is relieved. With an experienced team backing them up, they no longer have to live everyday worrying about what they will be doing about their home.

Step #2: Information Gathering

After you determine that the homeowner wishes to dispose of the property, it's time to get the necessary information to begin the short sale process. It begins with the simple question: "Will you be willing to sell the property for what you owe?" If the answer is yes, you keep going. If the answer is no, ask these questions in this order:

· How much above what you owe will you sell for? (Don't be worried about unrealistic numbers. Just accept their number and move on. You won't be able to tell if it's in the ballpark until you've gathered more information).

· What will the house appraise for?

· What repairs does the house need?

· How many payments are you behind?

· What's your interest rate?

· How much are your monthly payments?

· Who's your lender?

· How old is it?

· How long have you lived there?

· Have you made any repairs or updates to the house since you moved into it? (If they've lived there a long time then the answer to repairs is going to be yes, even if they stated no).

· Square footage?

· Does it have a garage?

· Does it have a basement?

· Size of the lot?

· Is the house currently vacant? If not, how soon will you be moving?

· Is the insurance up to date or do you have force placed insurance? (Force placed insurance is placed on the property when the homeowner fails to keep it insured. The lender will then put insurance on it and that insurance is typically two to three times higher than if we got it ourselves).

· Is it listed? Can the listing be canceled? How long have you had the listing?

· When is your foreclosure date?

· Why did you call me? What are your needs? What are you looking to do?

Once you get all of this information, then you set an appointment date and time to go see them. Your purpose on that visit will be to convince them of the good sense of giving you their headache and just leaving the mess behind for you to clean up. In other words you'll get them to complete some paperwork including deeding the house to you, giving you written permission to talk to the lender and commencing the short sale procedure.

Step #3: Have a face-to-face meeting

As you know, nothing in real estate is done on a handshake. If this short sale process is going to happen you'll need to get some paperwork signed. That's the purpose of a face-to-face meeting.

It should be self-evident that putting together all this paper work and getting the proper signatures will require the cooperation of the homeowner. So this first meeting is vital in assessing and establishing that cooperative relationship. Having a plan in mind for this meeting is important.

Does text message marketing make your seller happy and get you more leads? ABSOLUTELY!!!

Amber Gunn (Open to Close) — Tue, 27 Oct 2009 05:50:34 -0500

We are living proof that it does. This is a service that we offer to our clients as part of the "list to close" package. Our goal is to make Realtors more efficient and productive!

Features of text message marketing service- BENEFITS TO THE SELLER

•1) They get more exposure to the home because realtor is getting the leads to at least walk through the house. We all Know that the more people that see the house, the faster they will sell the house and the more they will get for it.

•2) They get a Realtor with a leg up on technology, the best. Prospective buyers are actually tracked where they couldn't possibly be with flyers that are grabbed with no phone call to the listing agent. The Realtor can use in conjunction with the flyer by putting text instructions on the flyer if the seller insists on paper fliers as well.

•3) The homeowner and the Realtor can even add the text instructions to their email signature all other personal info to get more hits.

Instant property Information and pictures
sent to Your buyer's cell phone!
**Call capture technology**

The Powerful Little Lead-Boosting Tool I Bet Nobody Has Ever Told You About

What kind of tool am I talking about?

It's a tool that will allow you to never again wonder how to get all the leads you need (and get them in the least expensive way possible)...track every penny spent on advertising...warm up your prospects before you even talk to them...and even allow you to make an immediate profit in less than 30 days.

You might even work less. A lot less. Live a balanced life and have a successful real estate career.

The Secret to Positioning Yourself in the High Income Zone

After working with agents for nearly ten years, I've found that most agents do work hard. They work very hard-in fact, too hard.

But rarely do agents position themselves to be in the 'high-income zone.' Winners stay ahead of their competitors. Listings are competitive. Sellers want to know what you can do to sale their home faster than the other real estate agents. When a new listing tool is available for your seller's property the sellers want it. Staying ahead of your competition is the key to success!

How do you do that?

By using technology that reaches prospects FIRST-before your competition. Then, once you've reached them, use a little clever psychology to compel those prospects to respond.

In the process two things happen.

First, by reaching the prospect first, you gain a 3 out of 4 advantage over your competition automatically. See, according to a recent NAR survey, 74% of prospects do business with the first agent who contacts them. So it's a clear advantage for you to be the first agent a prospect talks to...agreed?

Then second, it completely eliminates any Do-Not-Call list issues. When a prospect calls you, you can call them back as many times as you like within the next 90 days, regardless of whether they're on the national Do-Not-Call list or not.

So you kill two birds with one stone. It's a powerful one-two punch.

What's the key to delivering that one-two punch?

ANSWER: By shifting all of your marketing to "Instant property information and property pictures" offer. (This is the psychological part.) Instant home information and pictures of property delivered to their cell phone. This is also stored on the cell phone, with your contact information.

Features of text messaging service for listings- BENEFITS TO THE REALTOR

Where else can you invest 10-15 hours and earn $4,000 to $6,000 or more?

A recent study showed the average listing took just over 10 hours of actual time spent with client from point of contact to closing-for buyers it was a little over 15 hours.

Work smarter not harder.

So many real estate agents market for sale by owners and spend THOUSANDS on print advertising. The industry is overwhelmed with competition duplicating efforts. Every minute you spend "prospecting" you could be making three to five times as much money with about 1/100th the stress! Prospecting is the biggest, most painful, least profitable, burn-yourself-out task each of you have done! That's why there are so many real estate casualties. The turn-over rate for new agents in real estate is over 50% per year! Work smarter not harder. No more getting phone calls from your seller asking where their flyers went, who called on their house, and when you're coming out to refill l the boxes! And the Realtor is "going green"!

Stay ahead of your competitors. Chances are if you are reading this your competition is too. Get to the buyers first with instant text messaging. You will get a copy of the cell phone caller id and they will receive a description of the property, pictures and your contact information.

Sell More Homes Faster

Can you imagine how many buyers will want more property information and to see more pictures as they flip through a local real-estate magazine?

•1. Sign up and register your property listings online.

•2. Type in up to 160 characters description of your property.

•3. Upload your pictures ( not all carriers will support pictures)

•4. Add the Text code to your listing sign and on your print advertising too. Now you will receive email notifications of the caller id of each text sent to an interested homebuyer.

Now the buyer may access listings the same way they do on the broker's website or MLS, but now the home buyer is mobile. Buyers can drive neighborhoods and shop for homes from their car or while they stand in front of any home for sale.

Don't forget the value of using text messging service with your print advertisements too.

Buyers send a text message to text messaging service with a property code. Within seconds, the search results are sent to the consumer's cell phone along with the property details including address, price, beds and baths.

Now you can...Convert More Leads with legitimate phone numbers!

Did your husband not answer the phone today while he was at work? Yet he was ALL OVER Facebook...

Amber Gunn (Open to Close) — Thu, 15 Oct 2009 14:16:36 -0500

Keep a Personal Touch Online

Social Networking Tips for Authors

By L. Drew Gerber

Have you ever had someone tell you they were slammed with work, only to find their Facebook page full of frequent frivolous activity?

Or maybe you have been surprised by a rude, off-the-cuff remark on Twitter?

Social networking offers boundless potential for authors and writers to promote their works to a wide audience online. Just remember to avoid some common etiquette pitfalls.

Keeping a personalized touch makes all the difference. Let the Golden Rule govern your behavior online and treat people and situations as you would face to face:

Share - Provide valuable information that people can use. When I am networking online, I offer great content for free, whether it be seminars, newsletters or even articles that I find that would be interesting for the community.

Don't just promote yourself - Engage with people online just as you would if you were building a business relationship in person. If someone comes in and all they want to do is promote, promote, promote, that approach is likely to go nowhere.

Be polite - People have a tendency to say things online they would never say face to face. I have seen instances where people on Twitter have a personal beef or a problem with a person and tweet it out publicly. Don't say anything you would be embarrassed for your loved ones to read.

Don't lower yourself - With electronic communication, whether email or social networking, there is no way to read facial expressions or body language. If there is a question about a person's intentions, give them the benefit of the doubt rather than calling them out for being rude.

Be responsible - Not only for what you say, but for your time and your image. It will hurt your credibility if you tell people how busy you are and they see you taking those "Who am I?" and "5 Favorite" quizzes on Facebook everyday. When you are online you should assume everyone is watching and behave accordingly.

Don't butt in - If you are participating in an online discussion, let other people have a chance to share their ideas and perspectives. Wait your turn and you will get your chance.

Have fun and be creative - Think of ways you can share information about your article, book, writing service or yourself that are fun and make people want to follow you.

These tips work because social networking is all about building community. Just like in the community you live in offline, the people who have credibility online who are those who engage others and provide value for the community.

The Mortgage Forgiveness Debt Relief Act of 2007 includes a provision that allows homeowners to exclude as much as $2,000,000 of forgiven debt on their 1040?

Amber Gunn (Open to Close) — Thu, 08 Oct 2009 07:07:46 -0500

IRS Balm for Short Sales of Homes by Julian Block

Congress continues to make changes in the tax code in response to the housing crisis. A key change helps millions of homesellers who owe more on their mortgages than their dwellings are worth. These sellers have negative equity - a condition known colloquially as being upside down or underwater. Legislation that went on the books at the start of 2007 significantly benefits some upside downers and does absolutely nothing for others.

This is how the break works. Suppose Sela Sellers disposes of her residence in a lender-okayed short sale that erases the unpaid part of her mortgage. Or suppose the lending company forecloses on the dwelling, subsequently sells it and cancels a portion of her debt. Generally, the tax code calls for Sela to report partially or entirely forgiven amounts on her 1040 form. Not any more. The Mortgage Forgiveness Debt Relief Act of 2007 includes a provision that allows homesellers like Sela to exclude as much as $2,000,000 of canceled debt.

Sela excludes (sidesteps) taxes only if she satisfies two stipulations. First, the security for her mortgage is her principal residence, meaning the place she ordinarily lives most of the year. Second, she incurs the debt to buy, build or substantially improve her principal residence. There is no relief for Sela's home equity loans or cash-out refinancings, except to the extent that she uses the proceeds to make improvements. Other fine print prohibits relief if her lenders forgive debts on vacation homes and other second homes or rental properties.

Long-standing rules generally require debtors to report all forgiven debts on their 1040 forms, just the same as income from salaries or investments. The Internal Revenue Service taxes forgiven amounts at the rates for ordinary income from sources like salaries. Some forgiven debts sidestep taxes. The law specifies several carefully hedged exceptions. They include bankruptcies and insolvencies.

The exception introduced in 2007 benefits people whose debts are reduced or cancelled in arrangements that are known as loan modifications, foreclosures, deeds in lieu of foreclosure and short sales. This last category is the term for an owner who -- with lender approval -- sells for a net sales price (gross sales price minus legal fees, broker's commission and other costs) that is insufficient to cover all of the outstanding debt.

In tax lingo, the exclusion is for income from the discharge of QPRI, short for qualified principal residence indebtedness. This means mortgages taken out by owners to buy, build, or substantially improve their principal residences. And the residences are the securities for the debts.

There also is an exclusion for debt reduced through mortgage restructuring, as well as for debt used to refinance QPRI. Here, there is relief, but only up to the amount of the old mortgage principal, just before the refinancing.

Another constraint is that the exclusion does not help homeowners who took advantage of the run up in real estate prices to do "cash-out" refinancing, in which they did not use the funds for renovations of their primary residences. Instead, they used the funds to pay off credit card debts, tuition charges, medical expenses, or certain other expenditures.

Published: October 8, 2009

How many REALTORS are using podcasts? Could this be your niche? Could you actually make money?

Amber Gunn (Open to Close) — Fri, 02 Oct 2009 13:40:27 -0500

David Spark is the founder of Spark Media Solutions, specialists in building industry voice through storytelling and socical media.

What follows is a compendium of nine proven money-making techniques for podcasters. All are successful to varying degrees and some podcasters use a combination of methods. This summary provides an explanation of all the techniques, and tips from the podcasters who have pulled them off. For more tips, advice, and to hear the full money making podcast story, make sure to read and listen to each the interviews linked throughout this article.

1. Got audience? We'll get you sponsors

Podcast networks such as Mevio, Podtrac, and Wizzard Media welcome any podcaster that has an audience, because that means they can sell advertising against it. The networks collect shows, categorize them, and sell advertising on a CPM (cost per thousand) or CPA (cost per action) basis. Adam Curry, former MTV VJ, podcasting pioneer, and President of Mevio (interview), is looking for podcast producers that know their audience and can motivate them. Using either their show programming or social media, podcast producers promote show-specific coupon codes for their sponsors. Every time one is used, the podcaster gets paid. Of their network of 15,000 podcasters, Curry said he has three podcasters that will make between $500,000 to $1,000,000 this year.

Kevin Kastner of Alaska HDTV used to be a Mevio customer but left because he was unsatisfied with what he was being offered (he wasn't willing to make a CPA deal) and the opaqueness of the deals. He had no idea how much Mevio was selling his show to advertisers. Curry said he splits all revenue 50/50 with podcasters.

2. Get your own sponsors

Kastner left Mevio (interview) because he believed he and his partner could land their own sponsors and make more money. They did, and in doing so increased revenue 200 to 300 percent, said Kastner. But he admits it has come at a serious cost: his workload has increased more than ten-fold.

Wizzard Media offers a hybrid advertising solution for podcasters that want to make more money by landing their own sponsors, yet still need the crutch of an ad network to fill out any unsold inventory. Royce Hildreth, co-producer of Pregtastic, the podcast by and for pregnant women, uses this Wizzard Media hybrid solution. For podcasters that get their own sponsors, Wizzard Media will insert the ads for a flat fee, explained Rob Walch, Wizzard's VP of Podcaster Relations (interview) and host of the Today in iPhone podcast.

3. Be like public TV, beg for donations

Pregtastic's Hildreth (interview) admits that the hybrid sponsorship alone isn't cutting it, so he's put up a begware button and instructed podcast hosts to say that the show costs a donation. He and his co-producing wife aren't making a lot of money from donations, however. It's usually enough to hire a babysitter for when they have to go to the studio to record another episode.

4. Give some away free, charge for the rest

This technique comes in multiple variations. One of the innovators of this technique is Don McAllister, host of ScreenCastsOnline (interview), a weekly video podcast of "how to" Mac software tutorials. McAllister gives away every other episode and makes viewers pay for the rest ($57 for the first six months) which includes additional bonus content and hi-res videos.

The formula has become his livelihood for the past three years, and it's been copied successfully (with McAllister's blessing) by Israel Hyman host of Izzy Video (interview) and producer of Rolling R's and Paperclipping.

When Hyman and McAllister first produced their podcasts they were completely free. It wasn't until after a few years and some success that they started charging for some of their shows. Ken Ray, host of Mac OS Ken (interview), a daily podcast about Apple news, didn't want to start charging for his free podcasts, so he created another show, "Day 6," which can only be accessed through a paid subscription. Ray said the "Day 6″ show is designed to pay for his daily show.

Apple doesn't allow podcasters to charge for podcasts within iTunes, so if you want to create a paid podcast, you need to use a service such as Premiumcast.com which allows you to create personalized RSS feeds, explained CEO Paul Colligan (interview). Personalized RSS feeds allow for complete control over the podcaster/subscriber relationship, allowing you to serve different content (e.g., PDFs, video, or audio) and time the distribution, plus turn off a feed if someone stops paying.

5. Partial show free, full show paid

One of my favorite podcasts, Never Not Funny, is hosted by a great comedian I knew in Chicago, Jimmy Pardo. The show is 90 minutes long, but only the first 20 minutes is available for free. If you want the rest of the show, you need to become a paid subscriber ($19.99 for a season of 26 episodes in audio, $24.99 for the season in video). Like McAllister, Hyman, and Ray, the Never Not Funny podcast didn't begin with a paid model. Pardo and his co-host and producer Matt Belknap (interview) created 100 shows for free first, and then switched to the partial show free, full show paid model. It's paid off. Belknap estimates that 35 percent of their total listeners are paid subscribers.

6. Build your own media network of programming and sell advertising against it

Launching a radio or television network has enormous overhead. A podcast network doesn't. Personal Life Media is an online network of blogs and podcasts that address personal life issues such as career, love, health, and finance, explained CEO Susan Bratton (interview). Unlike podcast networks such as Mevio and Wizzard Media which are just collecting a mishmash of programming, Personal Life Media behaves like a radio network that controls its programming and its overall brand. With her lineup of forty programs, Bratton can sell advertising packages by specific category that get from 100,000 to 250,000 downloads per month.

Unlike Bratton's Personal Life Media, ESPN didn't have to start from scratch when creating its podcast network, ESPN Podcenter; they already had a brand and a radio station. When they first began podcasting five years ago, they repurposed some radio content for the web, but soon learned that it was more effective to create original podcast programming. Now with a lineup of more than 100 podcasts, ESPN sells integrated sponsor packages across multiple media that can include advertiser images that appear on the show's icon within iTunes' podcast directory, said Marc Horine, VP of Digital Media at ESPN (interview).

7. Build your brand to sell your services

Marketing and digital technology coach John Jantsch is the host of the "Duct Tape Marketing" podcast (interview) which is also the name of his book and his consultancy. In his early days of podcasting, when he was a complete unknown, Jantsch would request interviews from well known social media types like Guy Kawasaki and Seth Godin. Having them on his podcast raised his profile. Since, his consulting business has increased 500 percent and is now landing him six-figure sponsorships repeatedly, said Jantsch.

Mike Auzenne, co-host of the Manager Tools podcast (interview), doesn't charge for his podcast or take any sponsorship money. He just focuses on delivering great advice and actionable tips to be a better manager. The four-year podcast trust building exercise is working. All of Manager Tools' clients come from hearing him on the podcast first, and as a result business has increased ten-fold, said Auzenne.

8. Sell an iPhone app along with your podcast

Elsie Escobar is the host of the podcast Elsie's Yoga Class Live and Unplugged (interview) which is simply an audio recording of her yoga classes. Though the podcast is distributed completely for free, she's just starting to make money with a $3.99 iPhone application. The application, developed by Wizzard Media and available to any podcaster on a revenue share basis, lets Escobar and anyone else offer value add content for their podcast. Escobar uses it to add PDFs of routine sequences and quick access to 70 of her past yoga classes. It's an ideal platform to be on since Wizzard Media's podcast metrics show that 85 percent of people download podcasts through iTunes. Combine that with the 50 million iPhones and iPod Touches sold and you've got yourself a strong podcasting platform, said Wizzard Media's Rob Walch.

9. Integrate sponsorship with the show's editorial

Digital audio book seller Audible is a regular sponsor of many different podcasts. It is natural for them to advertise on podcasts, since their product is usually consumed in the same place: iPods. It was even more appropriate for them to advertise via sponsored editorial placements on Slate's Culture Gabfest, a group discussion podcast of the week's arts and entertainment happenings, explained Andy Bowers (interview), Slate's podcast and video producer. The Culture Gabfest's hosts were already consumers of Audible's product and were eager to recommend books or take recommendations from listeners. Book recommendations fit in naturally with the show's editorial and it also has increased engagement as they continue to track their success through a show-specific promotion code.

This is just a brief summary of all the different ways one can make money from podcasting. For "how to" tips and expert advice on how to make these techniques actually work, make sure you read and listen to the interviews, linked all throughout this article.

I've moved some "BIG ROCKS" today! FOCUS on a max on 1-2 major tasks to get done each day!

Amber Gunn (Open to Close) — Wed, 30 Sep 2009 14:42:06 -0500

I'm the first one to tell you that I consistently on a daily basis get sidetracked and lose focus of the 1-2 MAJOR things I need to get done in a day.

So, for me to actually accomplish major task items are HUGE! According to Timothy Ferriss, author of "The 4 Hour Work Week", we should only have 1-2 items on our to do list each day. I clearly know this, but I still struggle with implementation. Yesterday, I spent the first 1/2 of the day filling out excessive paperwork to become a certified MCE instructor and provider. Grueling... but done! I also wrote an entire business plan for an idea that came to me during a time of struggle. And, yes, it is going to change how real estate professionals do business!

Today's blog was not about points or content. It was about being real and authentic. And trust me, if I can do this, you can!

Implement a MAXIMUM of 2 items on your to do list each day, and see what happens! You actually get it done, and you don't feel guilty about all of the other things you HAVEN'T done! :)

Being your own boss is good for your health!

Amber Gunn (Open to Close) — Thu, 17 Sep 2009 08:44:23 -0500

Measuring Well-Being

In a study of how occupation affects happiness, business owners came out on top.

Occupation	Overall well-being
Business Owner	72.5
Professional	71.5
Manager/Executive	70.9
Farming/Forestry	67.8
Sales	67.6
Clerical	66.1
Construction	65.0
Installation	64.4
Service	64.0
Transportation	62.6
Manufacturing	62.1

Source: Gallup-Healthways Well-Being Index

Note: Scores are based on respondents' answers to six categories of questions about work and life quality.

Staying in Control

Other patterns among the self-employed help explain their psychological well-being. Entrepreneurs tend by nature to be optimistic, evidenced in their willingness to strike out on their own, psychologists say. Laura Street, of Pleasanton, Calif., isn't making a profit in the handmade-jewelry business, Ampersand Designs, which she co-founded last year. But to her, the glass is half full: She says sales are rising, she expects to turn a profit soon, and she loves her work.

"Yes, the economy is bad. But we aren't coming into a workplace wondering, 'Are we going to get fired today?' " she says. "If you control your destiny, the well-being is something that just comes naturally."

The freedom business owners have to control their schedules enables them to adhere more closely to their personal priorities, says Amy Neftzger, an organizational psychologist for Healthways. They have the flexibility to "make it to a child's play, or spend time with family," she says.

Golfing With the Mayor

Many also have community ties that feed a sense of well-being. James Barnard, chief financial officer of his family's business, Barnard Manufacturing in St. Johns, Mich., didn't have a great summer. He and his cousin Gary Barnard, president of the heavy-equipment parts maker, stopped drawing paychecks to help the company through a steep sales drop. They agonized over a decision to lay off dozens of workers, and Gary sat nearly alone in the plant for several weeks, answering phones.

But their company has a good image in the community, and "it's a big deal to us to keep that going," James says. He takes part in civic groups and enjoys golfing with the mayor and police chief. Pressed to describe the rewards of running a family business, he says, "It's pride. Definitely pride."

Wall Street Journal, Email sue.shellenbarger@wsj.com

We just hired the ex-Operations Manager of the Distressed Property Institute (CDPE - certified distressed property expert)!

Amber Gunn (Open to Close) — Sat, 12 Sep 2009 11:36:53 -0500

Gayla Allen

Short Sale Negotiator

Gayla comes to Open to Close with the best training available with her experience as the Operations Manager for and certification through the Distressed Property Institute (CDPE Designation - Certified Distressed Property Expert) which is sponsored by Keller Williams, REMAX, and many others. This designation is recognized my many REALTOR® state boards and is moving towards an international program. She infuses an entrepreneurial spirit into our daily operations and creates an environment focused on forming lasting relationships, supporting uncompromised customer service, and providing unsurpassed support to agents who are diligently helping homeowners through the Short Sale process. Outside of work, she is a "foodie" and wine enthusiast. Gayla and her husband are now empty nesters, enjoying their life together after raising six children. She also has three grandchildren and two ornery cats.

www.myopentoclose.com

Short Sale Realtors, would you like a GUARANTEED 6% commission???

Amber Gunn (Open to Close) — Thu, 10 Sep 2009 02:54:45 -0500

See if the loan your are working on is Fannie Mae. If so, you are guaranteed that 6% commission!

http://loanlookup.fanniemae.com/loanlookup/

Independent Contractor or Employee??? Similarities Between Keller Williams & Open to Close

Amber Gunn (Open to Close) — Thu, 03 Sep 2009 11:37:49 -0500

Coordinators with Open to Close and MOST Realtors are 1009 independent contractors. I have been a long time confused individual when it came to this subject. I have a lot of HR connections pretty high up at different companies across the U.S., and they all tell me something different.

So, I completely changed my schedule this past Tuesday to attend a once a year class with the Small Business Administration here in Austin, TX to set the story straight!

To differentiate between the employee and the independent contractor, there is NO Employee Handbook to be given and NO New Hire Paperwork to be filled out. There is NO staff, and there is NO payroll! So, what is there???

Payroll for an independent contractor does NOT exist as they are "paid by the project. Employers can request that they track their hours but contractors should be paid for successful completion of a project; if the project is NOT satisfactory to the employer, employer could have a NON-PERFORMANCE issue with the contractor and refuse to pay them or not pay them fully based on their written agreement."
Instead of employee handbook, there are "Policies and Procedures" manuals and compensation agreements to ensure everyone knows what actions must be taken to get paid and actually how much and how often they get paid along with a W9, no I9 or W4.
In addition, contractors may work for more than one employer at a time, but employers are also legally able to enact a non-compete/non-disclosure for a specific industry or specific location. At that point, the contractor could work for two employers, but they would have to be in two completely different industries and/or locations as specified by the non-compete/non-disclosure.
You, as an employer, can require your independent contractors to come in to the office at certain times if it is part of the requirement to get the job done. In the Open to Close scenario, one of our offices is located in the #1 producing Keller Williams office right here in Austin, TX! As part of the agreement, the agents in that office that hire us must have at least one day a week where the coordinator is at the office, so the agent can have face-to-face contact with the OTC coordinator, should they so desire. So, with that being said, we are able to legally enforce that our coordinators are present the same day each week at the same time because it is part of getting the job done.
Benefits aren't typical with independent contractors, but employers can offer them to their contractors. In fact, statistically companies with under 20 EMPLOYEES are NOT paying benefits at all!

The more I thought about it, the more I thought about how I could relate it to Keller Williams when I explained this to my staff. Keller Williams is KNOWN for their training and systems and stringent paperwork/guidelines. It's branding, and it creates uniformity. It's like McDonald's; you always know what you are going to get because of the systems.

With Keller Williams, there is a minimal amount of training you HAVE to go through to be affiliated. There is a very defined way that you are able to design your signs and business cards. There are specific colors and specific verbiage that must be used. Scripts and systems are huge!!! And the paperwork needed to process your commission is the most stringent and detailed of pretty much any brokerage I know of! And if an agent (who is a 1099 independent contractor) does not comply with the Keller Williams procedures, they will NOT get paid their commission and/or would be asked to dissolve their affiliation with Keller Williams. And look where that has gotten them! They are the fastest growing real estate company in the world! Go KW!

So, hopefully, this dispels some of the confusion around this touchy subject. I'd love any and all questions! Knowledge is power, and clarity is key.

-Amber Gunn, Open to Close

We Just Don't Process Short Sales - Part 2

Amber Gunn (Open to Close) — Sat, 29 Aug 2009 22:17:29 -0500

Well....48 hours later we didn't have one offer we had multiple offers. We had helped the realtor price the property to get attention and the outcome was exactly what we had hoped for. Meanwhile the seller of the property was out of a job. She finally had a second interview lined up and the day before the interview, she broke her wrist and couldn't make it. She was able to reschedule the interview and land the job. Two weeks after she started working for the company....She broke both of her arms in an accident. This person was in the process of a short sale, trying to put her new life together & the next roiund of hurdles just pounded down on her.

The staff of Open To Close does not limit their skills to processing short sales....they go grocery shopping, prepare meals, help wash hair and.....make friends for life. This is one situation - but there are many. We realize that there is a story behind why these people have to sell their biggest investment in a short sale. We are here to get the job done smoothly and professionally...but also realizing that there is a real person behind the hardship letter, the bank authorization and "the deal".

We aren't a company that just get's the job done...we involve ourselves with the people we work with, whom we work for - we care... plus we get the job done. If you are looking for a group of people who care and give 110% with every person that we work for or with....Then call us at 512-417-6027 - Open To Close....

Don't you just love Top Producer? Exporting your contacts...

Amber Gunn (Open to Close) — Wed, 26 Aug 2009 09:22:51 -0500

We have agents that insist on it because it's the only thing they know. We use a CRM tool that actually WORKS with Outlook, and there is NO additional fee! Yea!

Anyway, she wanted to grab her contacts out of Top Producer, so I thought I'd share some love with the rest of you out there. Happy selling!

28.12. Top Producer 7i Instructions

Following are unofficial instructions for exporting contacts from Top Producer® 7i into your Relationship Manager Relationships database.

Note: If you are an assistant or are part of a team or partnership account and the Export Data action link is unavailable through your Top Producer program, the account owner has not granted you export permissions. Contact the account owner for export rights.

Part I - Export your contacts from Top Producer 7i:

1. From the Top Producer main menu, select Setup, then choose Data transfer/conversion.

2. Click Export data. The Export contacts page will then be displayed.

3. Option 1 - Export All Contacts - use this option to export all of your contact records.

Option 2 - Search for Contacts to Export - use this option to search for and select specific records
for export.

4. Click Next to proceed.

5. If you selected Export All Contacts in Step 3, skip to Step 9.

If you selected Search for Contacts to Export in Step 3, from the Search contacts for export page:

a) Choose either Quick Search or Advanced Search to specify the types of records you want
to export.

b) Click Display All from the control menu to retrieve all records.

c) The Contact Search Results for Export page is displayed with the results of your search.

6. Option 1 - Use the Select All link to select all records.

    Option 2 - Hold down the [Ctrl] key on your keyboard and click on specific, individual records to
                      select them for export.

7. Click the Search Results Total button in the bottom right corner to display the number of records
    selected. Verify that this is the correct number of records you want to export.

8. Click Next to proceed.

9. From the Export Contacts to a File page, select either:

Option 1 - Export All Columns - exports all TOP PRODUCER 7i database columns.

    Option 2 - Export Selected Columns - allows you to select the columns and the order in which you
                      want to export. If using this option, be sure to choose all name, address, telephone
                      number, email address, business name/address, URL and birth date information.

Double-click to select the columns you want to export from the Columns Available for Export matrix (or select the respective columns and use the right arrow icon to advance) to move them into the Columns Selected for Export matrix. Columns will be exported in the order selected (no particular order is needed for import into the Relationship Manager system as long as column headings are included in the upload file). Use the Move up/Move down links to change the order of columns selected if you so desire.

Option 3 - If you chose Search for Contacts to Export (Option 2, Step 3), only contact name,
address and main contact number will be exported.

10. Click Start Export. A Save Exported File As dialogue box will be displayed.

11. In the Save In field, browse for a convenient location (i.e., your Desktop or a folder on your
computer) to save the export file. Remember the location to which you are saving the file
-- you will need to access it later in the process.

12. In the File Name field, create a logical name for the .csv export file.

13. Click Save. An Exporting Records to File dialog box will appear. The process may take a few
minutes.

14. When the Export Complete dialog box appears, click OK.

Part II: Import Contacts Into Relationship Manager Relationships Database:

Login to your Relationship tools
Select Relationships from the menu options on the left side of your screen
Select Import Contacts from the bulleted dropdown menu

4. In the Step 1 section, from the Source of Contacts dropdown menu, select Excel File
or Top Producer 7i

     5. In the Step 3 section, click the Browse button to browse for and open your .csv file

     6. In Step 4, click the Import button to begin the import process

     7. Map your columns appropriately by using the dropdown arrows for each field to match the
          fields to import TO (System Fields) with the appropriate fields from your original data
          (Imported Fields)

     8. Click Proceed when you have finished mapping your data

     9. CAREFULLY review the data displayed to ensure you have correctly mapped your fields
          (i.e. the First Names are in the correct field, the Last Names are in the correct field, etc.). If
          fields were mapped incorrectly, click the Change Column Mappings button at the bottom of
          the page to re-map your columns without starting over. If data is not uniformly displaying
          in the appropriate column, your database may need some personal attention BEFORE you
          import it.

     10. Optional: Select a designated group to associate your contacts with. You may also mass
           subscribe your contacts to eNewsletters at this point.

     11. If everything looks good, click the Accept Import button. Our system will look for duplicate
           records within your data and will also compare it against records that may already exist in
           your database. If duplicates are detected, each instance will be separately displayed and
           you may choose to either

Not import the new record,

Overwrite the existing record (UPDATE it), or

Add the new data as a completely separate (duplicate) record.

Note on Data Imports:

If you encounter difficulty importing your data, you can email your database in .XLS, .CSV, .DBF or .TXT format ONLY to help@propertysource.com and we will upload it for you if possible, or analyze it to identify possible issues preventing your data from being uploaded.

Note Buying for Dummies

Amber Gunn (Open to Close) — Sat, 22 Aug 2009 10:18:16 -0500

Basically, when someone has gone months without paying their mortgage, the note is considered "non-performing" by the bank. There is no money coming in. At this point, it is better for a myriad of reasons for the bank to sell this debt off at pennies on the dollar than to keep the liability on their books.

So, for instance, it's a 100k note, and the lender is Wells Fargo. The homeowner, Joe Seller, hasn't paid their mortgage in 3 months, and the bank is "losing" money. John the Bank, INC. goes to Wells and says she will buy the note for 60k. So, John the Bank, INC. buys the debt for 60k, and now Joe Seller is responsible for paying the agreed mortgage to John the Bank, INC. Now, at this point, John the Bank, INC. can decide to short sale the property, do a loan mod for Joe if he wants to stay in the house, or do a died in lieu of foreclosure where Joe gives John the Bank, INC. the property outright and hopefully gets a little cash from John the Bank, INC. for moving costs. But Joe Seller gets to walk away from the property. The day that John the Bank, INC. becomes the bank, anything that is negotiated between her and the seller does NOT get reported on CREDIT. This is happening with a private lender, and the homeowner can escape MORE negative effects that could hurt them if their bank was still a traditional lender like Wells Fargo.

That's just an overview.

Open to Close will SIMPLIFY your life by doing this for you! Call us for details! 512.417.6027

We Just Don't Process Short Sales - Part 1

Amber Gunn (Open to Close) — Mon, 17 Aug 2009 23:30:28 -0500

A few months ago, I received a call from a local realtor. He wanted to talk about a short sale that he was trying to decide if he should take on. He thought we were one of those companies who buys the house at a really great cost and then sells it and makes a large spread. When he found out that we didn't do that.... he was polite and was getting ready to say, "thanks, but no thanks." He let us know that this house was going to hit the auction steps in a few days and that he just needed to find an investor and fast.

We were able to talk him into a meeting. We promised him that if he took our advice and priced the home the way we told him to....he would have multiple offers within 48 hours....and if not, we would help him find an investor.

He gave us a chance....with a very worried expression on his face. I assisted him with how to price the upscale condo - and he was really very nervous....his voice crackling... I could tell he was wondering if I really was from this planet and if I knew even the slightest about the real estate market. I remember him just looking at me and he said that he was giving us 48 hours to create a miracle...

....Learn what happened next in Part 2

Lets Get Realistic

Amber Gunn (Open to Close) — Fri, 07 Aug 2009 23:54:27 -0500

If you are interested in doing a loan modification on your mortgage, one of the first things you have to do is run your numbers. The lender is going to want to see what monies are coming in and what monies are going out.

If what is going out is more than what is coming in.... Think again- before you consider trying to do a loan modification.

I had a gentleman contact me and his monthly expenses were in the negative by over $1000 each month. He thought that a loan modification was the answer. I asked him if he realistically thought I could lower his mortgage payment by a thousand dollars a month. He thought that was ridiculous and said...."Well I was hoping to shave off about $400 a month." That sound's all fine and dandy.....but my question is "What is that $400 really going to do?" The gentleman still was in the negative by over $600 each month. How do I negotiate with a lender that can easily see how much of a risk this person is?

My advise is to contact Open To Close. We are loss mitigation specialists. When in this situation... and believe me many are -- you need to step out of the box and really look at where you are and where you need to go. Get help -- because you are not alone. Close to two million people's homes were put in some sort of foreclosure status just in the last six months.

Check out our website at www.myopentoclose.com or call us at 512-417-6027

The Seller Walks Away

Amber Gunn (Open to Close) — Fri, 31 Jul 2009 23:55:09 -0500

Just a note out there for anyone considering a short sale.

I had a possible client contact me this week to process a short sale for him. He had an amazing story. His business had hit some really rocky ground and he was forced into a chapter seven bankruptcy. The trustee handling his case had to liquidate all of his assets....including his home. He was so upside down on his home - after almost a year on the market - The trustee gave him his house back. The trustee could not liquidate his home....as there were just no takers for it at the price he owed.

He came to us wanting to short sale it. He has three liens on the property. He was hoping we could negotiate the second and third lenders down to almost nothing. He also wanted us to negotiate the first lender down. His goal was to sell the house - giving minimal amounts to the three lenders - and then making a profit on it for himself.

Take note, if you are considering a short sale, it is illegal for the seller to walk away with any money from the sale of the house. You are in essence, giving it back to the lender ... thus, "All offers must be approved by lender." The lender has to approve the proposed buyer....because in all actuality - the lender is actually the seller.

So, if you are considering a short sale or a loan modification on your property, Give us a call at 512-417-6027 for more information and some possible solutions for your property. Please check us out at www.myopentoclose.com

What Is All The Fuss

Amber Gunn (Open to Close) — Fri, 24 Jul 2009 08:36:06 -0500

Just wanted to put a note out there about an idea that is spreading through Austin, Texas like crazy!!!

I am not sure if many of you have heard about the new business opportunity. It is called Ijango. Ijango is basically a web portal that is comparable to multi-leveling Google. It is an amazing concept. We can all get paid to surf the web and make money off of everyone that we know that searches the web.

I thought I would bring this idea to active rain. For more information on this idea please go to www.Ijangocheerleaders.com.

Part III A Growing Family In Less Than A Steady Economy

Amber Gunn (Open to Close) — Sat, 18 Jul 2009 12:49:32 -0500

Working out of state made it almost impossible for this devoted husband and father to try and find a solution for these rental properties. He found an investment company who was willing to put cash offers on all three of his properties. We were contacted to help him with the processing of these short sales. The client worked diligently to send me over the needed paperwork. While doing so, the attorney's office-hired by the lender- started sending him letters for foreclosure hearings. We were able to get all three offers to a negotiator and we are awaiting the negotiation process. Because the rental homes are now in short sale status, all hearings or sale dates are postponed and it has allowed the family to enjoy their new twin girls that were born last week.

I will update everyone when this account moves further and I know that it will be a happy ever after for this family. That is what makes my job worth doing every day. If you have a client who has a situation like this or are in this situation yourself, please know that there are options out there. My team would be happy to give you some educated information to help you or your client make some choices that may help their family have a new beginning.

Open To Close has a 93% success rate with it's short sale processing and loan modifications. Feel free to contact us for more information.

Part II - A Growing Family in a Less Than Steady Economy

Amber Gunn (Open to Close) — Wed, 15 Jul 2009 12:42:06 -0500

As I stated in my last entry....you learn about the clients you are trying to help....as a short sale brings you in their life for months.

The family invested in three rental properties. The husband and bread winner of the family was layed off from a job that is quite unique and re-employment is not the easiest thing to come by in his field. Two of the three rental companies became vacant....and there was no silver lining i view. To make it a more complete picture.... This family has two children under the age of four and his wife.... was expecting twins. Their lives have been rocked to the core. He is now facing foreclosure on his three properties, his credit is unrepairable at present and he needs to financially and emotionally support his ever growing family. After months of searching, he has found employment....but it takes him out of state three weeks out of every month. Trying to find a solution with his rental properties is overwhelming for him...

What does he do next..... Stay tuned for Part III of A Growing Family in a Less Than Steady Economy.

One Growing Family In A Less Than Steady Economy

Amber Gunn (Open to Close) — Thu, 09 Jul 2009 13:35:30 -0500

I love helping people and I think that is why I am such an asset to my company. This sounds like I am a stuffed shirt and that statement could not be further from the truth.

Being a short sale processor is not what one could call a low stress job. The hours of negotiating, the piles of paperwork that you continuously send to the lender.....for the lender to say that it was never received ~ and to top it all off... not knowing the outcome of the deal for months on end and trying to get the agents, seller and proposed buyers to hold tight through the roller coaster of a ride. But on the other side of the scale is the help that you bring to each family. On one side you are helping a family make a fresh start and on the other side....you are helping a buyer get into a property....that in most cases is a home that they wouldn't be able to afford if it was not a short sale.

In this job, you are attached to these people for many months. You learn about their lives and why they are in the situation that they find themselves in. I would like to tell you about a family that I am currently helping. I will update this blog....as the progress develops. I have a family that own's three investment properties. They were, or thought to be, financially secure and they made an investment in their lives by purchasing these rental properties. All was going well....when the economy took away their financial security in one brutal swipe.

Learn more in part 2 of One Growing Family In A Less Than Steady Economy

Part II - More On Loan Modifications

Amber Gunn (Open to Close) — Fri, 03 Jul 2009 20:11:38 -0500

My last blog entailed information about a family who worked like crazy to keep their mortgage up to date....so much so, that they spent every penny that they had and due to the economy - they still have been unable to get back on their feet. What this means for them and many others who find themselves in this situation... The threat of losing their home is still very real!! The only thing that the family was able to do was postpone the process and in doing so....they have not a dime to fall back on.

Loan Modification's of today can really help. I want to get the word out to all homeowners who can relate to what I am saying. Stop and get educated.... Don't dip into your very precious savings to try to stay afloat. Contact Open To Close for an educated look at what we can do for you. If some of your goals and expectations are:

•1. Principal Balance Reduction to reflect the market value

•2. Interest rate reduction (permanent or an interim period)

•3. Arrears brought to the end of the loan

•4. Actual deletion of delinquent payments, fee's and/or attorney cost's

Please contact us for an educated experience that could really benefit your home and family. Open To Close - can not and will not guarantee all or any of the above possibilities as each situation is different. However, we will honestly look at each situation on an individual basis and let you know realistically how we can help you. For more information contact 512-417-6027 to learn more.

Would My Lender Really Consider A Loan Modification On My Home

Amber Gunn (Open to Close) — Tue, 30 Jun 2009 10:07:05 -0500

I heard from prospective clients this week on the possibilities of saving their home with a loan modification. The husband had lost his job to a plant closure almost two years ago. He has tried to pick up side jobs until he finds something permanent, but has become very frustrated. For the past six months they have been struggling and their mortgage payments have become late. They found a friend who knew about our company and they called.

So many people are afraid to make the call.... This family has been very brave and have wanted to do all they could independently. With what result? If they had called our company almost two years ago....We could have saved them a lot more money!!! Tell your clients not to wait!!!

In the above mentioned situation, we may be able to lower the clients mortgage payment by $300 per month. We may also be able to put the arrears of this loan at the end of the mortgage....Not to mention many other possibilities. With that being said, If the client called two years ago - they could have saved $7,200.

The family in question's savings is now totally wiped out and they feel like they have reached ground zero. If you know anyone in this situation....Don't let them get to this point!! We can help now - No ones savings or emergency fund should be wiped clean!!!

More on this subject.... In my next blog .... Stay tuned

Short Sale Point of Contact

Amber Gunn (Open to Close) — Wed, 24 Jun 2009 14:30:20 -0500

I have just taken over four short sales from a major competitor. I have contacted the homeowners at the request of the investor I am working with. The homeowners notified me that they have been in the short sale process with this company for at least three months. They assumed they had been forgotten and they were. Why? These homeowners are in the process of losing one of their most precious possessions....their home! When speaking with these homeowners this week they confided that it was the first time they had heard from anyone other than the investor. The "big name" short sale company forgot the value of communication. Not once did they contact the homeowner involved and let them know what was going on, what the next steps were.....absolutely nothing. Open To Close guarantee's weekly contact with the investor, all real estate agents involved and the homeowner. We stay the main point of contact for all involved. Please contact us today at www.myopentoclose.com to view all of the services that we provide....with all services - communication is not only included....It is guaranteed!!!

Can I Do A Short Sale If?

Amber Gunn (Open to Close) — Mon, 22 Jun 2009 17:27:56 -0500

Many homeowners, realtor's and investors wonder the exact same thing.

A short sale situation can be the answer to many who do not think that they would qualify for this type of transaction.

A property owner contacted me today with a common problem. He owned a home in which he lived and also owned a rental property. Both properties are now upside down in equity and he can not rent the home to cover the ever growing mortgage payment. His credit has fallen and so was the value of his home..now he can't seem to get refinanced. His worry of having two homes....made him wonder if he could try to sell his rental in a short sale to hopefully save the home in which he lived with his family.

As long as a person is past due...even by as little as one month and has a hard ship that does not allow the borrower to make the payment....they can qualify for a short sale. For more information please contact us at www.myopentoclose.com

Educate Your Clients On Short Sales

Amber Gunn (Open to Close) — Tue, 16 Jun 2009 18:53:38 -0500

When showing a short sale property, please educate your buyers. If your buyer puts an offer in on a short sale property they need to know the time frame in which it will take for the lender to approve the offer. This could take anywhere from two weeks to two months....sometimes even longer!!

Too many offers fall apart because the buyer has no clue to the amount of time these options take. You, as the realtor, need to educate them of the pro's and con's. The pro being.... Your buyer is going to get one heck of a deal....the con is obviously the time frame. If they don't have the ability to wait....and have to withdrawal from the deal....they will be upset at the entire process and possibly upset that they were not properly notified of the situation.

Having a short sale processing company allows the process to be streamlined and also helps not only educate everyone involved in the process but facilitates all parties. The realtors can assist more clients and leave the detail work to the short sale specialists. The seller and buyer's benefit from a team of specialists who make sure that a full short sale packet is received by the lender and that communication becomes the key to a successful transaction for all. Contact us today for more information and visit our website at www.myopentoclose.com