My Experience, Your peace of mind!

Direct mail advertising for property owners?

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Thu, 27 Sep 2007 14:21:28 -0500

I have been looking for some direction in direct mail or advertisement for marketing for additional property management. If you have some to share, I would appreciate it.

Ken Kirkpatrick JR
REALTOR
www.bestbuyhomeskilleen.com

"Management & Leasing Fees"

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Mon, 18 Jun 2007 16:14:33 -0500

The other day I was explaining in a listing presentation for rental management how the real estate industry has been segmented in to several different professions. So I would like for you to review my statement and give me your feed back. Also this is the short version of the statements made at that meeting.

Each state has its own law and rules that regulate different industry and the standard of practice. As changes in the economy in different locations around the country affect the real estate market place it has also affected the management of properties which is becoming more segmented in its self. Property management has become a specialized business/profession of its own. When I stared out in the real estate business in the '70 we did property management as a necessary courtesy to our home owning clients, when moving away to another military duty stations. As, I myself have witnessed, in my local area, Killeen TX, the home of the Fort Hood Army Insulation, our local economy has changes from that of a single person's army in the early fifties to a married person army beginning in the mid-eighties. Our real estate housing economy has been making changes from one bedrooms housing over the years to families needing three, four and five bedroom housing. We now have an abundance of one bedroom units, ? , (for a long time) and with our large track builders, building and surpassing the need for housing with our economic base of troops in IRAQ, we too are now seeing a very abundant supply of larger units available in our rental market.

So, have, I have set the stage for you:

The Owners Question; Now what do you do in the management of my property that cost so much? As you know, filling our vacancies is getting more expensive every day with gas prices. I began with a simple explanation and discussion, of the segmented market place, of homes sales agent verses leasing agent. As I realized, that we were using a very out dated business model. As I indicated above, we use to provide a property management service to our home owners leaving the area because they could not sell and hope fully someday they would call us and say sell that house. Well not any more, as the market has change, and so has the experienced agent wanting to make a living in property management and rentals business. I gave the owner a choice. We manage the property, and the owner's choice is how does he want me to lease it?

Of course, the owner wanted to save money, Then the question how long does he want to make the payments on the property while it is vacant, as they will be paying for advertising, running the risk of vandalism, or it he would like to fill the vacancy faster with a licensed agent working with the possible tenant, showing the tenant advantages of this property. The owners weren't sold on that expense either.

So I ask them if they wanted me to tell all the prospective tenants to come over and get a key with a photo ID. And run the risk of a.) Thing being stolen, b.) Vandalism, c.) Property being left unlocked, and d.) The added cost of re-keying at the beginning of each new tenancy.

Property owners need to be educated on the need for full time licensed agent to, sell our leasing service and to move in prospective tenants now more than ever before as we are in a specialized real estate property management business. Signing lease is even getting very time consuming.

My Question to You as Property Owner, Do you want me to charge a fee for leasing in addition to your management service fee?

"Management & Leasing Fees"

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Mon, 18 Jun 2007 16:10:00 -0500

"Management & Leasing Fees"
The other day I was explaining in a listing presentation for rental management how the real estate industry has been segmented in to several different professions. So I would like for you to review my statement and give me your feed back. Also this is the short version of the statements made at that meeting.

Each state has its own law and rules that regulate different industry and the standard of practice. As changes in the economy in different locations around the country affect the real estate market place it has also affected the management of properties which is becoming more segmented in its self. Property management has become a specialized business/profession of its own. When I stared out in the real estate business in the '70 we did property management as a necessary courtesy to our home owning clients, when moving away to another military duty stations. As, I myself have witnessed, in my local area, Killeen TX, the home of the Fort Hood Army Insulation, our local economy has changes from that of a single person's army in the early fifties to a married person army beginning in the mid-eighties. Our real estate housing economy has been making changes from one bedrooms housing over the years to families needing three, four and five bedroom housing. We now have an abundance of one bedroom units, ? , (for a long time) and with our large track builders, building and surpassing the need for housing with our economic base of troops in IRAQ, we too are now seeing a very abundant supply of larger units available in our rental market.

So, have, I have set the stage for you:

My Question to You as Property Managers, Do you charge a fee for leasing to owners in addition to your management service fee?

They got the message.

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Sat, 16 Jun 2007 06:51:36 -0500

Got the email this morning and Keller Williams got the message about the search on the website. we wil get our leads in the future. I think that is great, as we know they do consider our feelings.

Real Estate Lingo for the Buyer

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Thu, 07 Jun 2007 09:09:48 -0500

Buying or selling a home does not require a real estate license, but first-timers often find real estate lingo confusing and intimidating. For example, home inspections, home appraisals, and home warranties are all becoming "standard" features of buying a home. But are these services distinct? Are they all necessary? Are they all the buyer's responsibility?

The answer is yes, sometimes. Still confused? The key is to understand each feature before deciding weather it benefits your particular transaction.

Many buyers will not close a deal without a home inspection. Because inspections tells the buyer exactly what he/she is buying, it is often a contingency in the home purchase agreement. The seller and the listing agent work to put a home in it best light; the home inspector shows you the property's true colors. He does not tell you how much the house is worth, but how well it works.

"A home inspection is a visual review of accessible property areas at the time of inspection. Generally, a through inspection includes the, plumbing, heating, electrical appliances, air conditioning, interior walls, exterior walls, and structural components of the roof and foundation."

When choosing a home inspector, look for experience and potential conflicts of interest. A good inspector will have a strong

background in remodeling or

contracting. However, you don't want an inspector examining your new

house for repair work he can do on the side. To avoid a conflict of interest, the top inspection companies will not even provide repair referrals.

While an inspection looks at

"the nuts and bolts" of a home, an

appraisal estimates the home's overall market value. This analogy may be helpful: "If your new house were a car, the appraiser would give you its 'blue book' value. But unlike a home inspector, the appraiser will not 'crank it up' to see how it runs."

Is an appraisal necessary if your home is already inspected? Most financial institutions will not issue a mortgage without one. It ensures the buyer (and the Lender) the agreed price of the home falls within fair market value.

To prevent conflicts of interest, and appraiser should not be an employee of a real estate company or a bank. However, most buyers hire an appraiser recommended by their lender or realtor.

There is no such thing as a perfect home, which is why many real estate and home inspection companies now offer a home warranty option. It cannot guarantee buyers a dream house, but it does ensure the next best thing: peace of mind.

A home warranty usually covers the appliances, heating/cooling and plumbing components of a home. "The structure, or the house itself, is not covered. A warranty also cannot address long-term problems that may arise, such as settling or undermining of the foundation."

Many buyers mistake a home warranty as insurance against needing a home inspection. "They couldn't be more wrong! Most home warranties do not cover pre-existing conditions a thorough home inspection would otherwise have caught.

Home inspections, appraisals and warranties are not "necessary" to buying a house, but they are to buyers who seek the right house at the right price.

Buyers Agent Website?

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Thu, 31 May 2007 09:05:47 -0500

Does anyone have a good buyer agent website or is everyone marketing to the masses?
If you seen agood Buyer Agent website please send us a link.

Ken Kirkpatrick
www.KilleenFortHoodArea.com

Welcome New Team Leader

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Sun, 20 May 2007 07:44:41 -0500

We have a new HOT NEW ASSET in the HOT, Market Center in Killeen TX. That's right we have a new Team Leader, would you please help me Welcome Mr. Don Jacksonto the HOT Market Center as our new Team Leader. He has started the transition very well and with a BANG! You may know of our present Team Leader Kim Galvin she has been Great with the launch of this Market Cent and now she returns to Waco TX to manage her OP's Team and maybe more as I just heard that that market center has just resigned we lost him and I wish him the very best luck, haven't heard witch market center his going to? He did a great job with the launch with the Waco and the Killeen-Temple=HOT centers.

Send a personal email and congratulate him in his new position and I know he is a motivator.

Send a personal email and congratulate him in his new position and I know he is a motivator. He should be more active in AR.

Please encourage him. Contact Don Jackson

O' By the way if you send his a referral ask for me. http://www.askforken.com/

Ken Kirkpatrick
http://www.bestbuyhomeskilleen.com/

Building a List!

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Thu, 03 May 2007 06:43:08 -0500

Hi everyone,

I thought it would be nice to start a list of For Sale By Owner resources.

Where do you find your FSBO? Add to the List, Websites, Newspapers, lets exchange information on where to get the FSBO First.

Here is a new one for me. 1. www.killeen.craigslist.org/

Ten Signs It's Time to Sell Your Home

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Mon, 19 Mar 2007 08:34:12 -0500

Ten Signs It's Time to Sell Your Home

•1. The kids have all graduated from college. You and your husband finally have time to yourselves...then they move back home!

•2. You have three spare rooms in a four bedroom house.

•3. You have to shuffle your cars each morning to leave for work.

•4. You spend more time driving to work than you do with your family.

•5. You spend more money each month for storage than you do for your mortgage.

•6. Your neighbor found a loophole in the homeowner's association rules and is raising donkeys.

•7. You keep hearing faint voices telling you to "get out" and they're getting louder.

•8. Grandpa Jed just struck oil while hunting in your back yard.

•9. The dog's house doubles as a guest room.

•10. You have to take a number to use the bathroom.

Ten Steps to Selling Your Home For-Sale-By-Owner

Ken Kirkpatrick (Kirkpatrick, Sale & Rental Management) — Wed, 28 Feb 2007 07:05:44 -0600

1. Define your goals, wants, needs and expectations. A good place to begin is by exploring your short and long term goals in life and how selling your home fits in.

2. Determine the best price for what's going on in the market right now. Assess the current state of the market and what comparable homes are actually selling for by reviewing a Comparative Market Analysis (CMA) on your home. That way, you can objectively determine its fair market value and price it right.

3. Prepare your property so that it is in top-selling condition. Most of us don't keep our homes in top-selling condition. Think about your home from a buyer's point of view. Repair, replace or remove items in your home so that it makes a GREAT first impression.

4. Implement time-proven, research-based marketing strategies. Market your home to as many people as possible using for sale signs, flyer boxes, open houses, feedback tracking and web listings.

5. Show your property. Ensure that your home is always in top-selling condition. When you leave for work, make sure that your home remains in top-selling condition. You know what they say about first impressions!

6. Receive an offer. When a buyer decides to buy your home, an offer will be presented. Consult with legal counsel.

7. Negotiate to sell. Most offers require some level of negotiation. Decide your parameters and be prepared to negotiate towards a win-win situation.

8. Have your home appraised and inspected. Once you have accepted an offer, work with the buyer or buyer's agent to coordinate an appraisal, inspections and a survey (if required). If the buyer requires that certain repairs be made on your home, negotiate or make them to move successfully from contract to closing.

9. Prepare for closing. A few days before closing (also known as settlement), contact the title company and the buyer or buyer's agent to ensure that all the necessary forms and documents have been prepared. Consult with legal counsel.

10. Close! At the closing meeting, ownership of your property is legally transferred to the buyer.