Agents, Turn On Your GPS

Education & Training with Corcoran Consulting & Coaching

man, mountain, gpsThe past holiday season, at least five people I know got GPS units as gifts.  Either roads are more confusing these days or people are more confused when they get behind the wheel.  In any case, every recipient was delighted.

This winter, real estate agents and potentials buyers as well could use GPS to make it through the pile of new government programs and regulations aimed at helping homeowners and stabilizing the housing market the last few months.  We have housing credits and new Good Faith Estimate (GFE) forms, plus a new policy that puts anti-flipping rules on hold and allows homeowners to quality for FHA financing when they buy homes from short term owners.  Private buyers can see view foreclosed homes 10 days before investors can.

These new rules work together to make it easier for people, especially new first time home buyers, to get into entry level housing.  It's up to real estate agents to know how to navigate the crowded field of new rules.

We have talked the last couple days about keeping our attitude positive and seeing an abundant field of customers.  Our mindset is important, but to maximize our opportunities, we must keep ahead of the knowledge curve so we can navigate the system for our customers.

Comments (2)

Sam Miller
RE/MAX Stars Realty - Howard, OH
Knox County Ohio Real Estate Specialist

Bob - The FHA rule changes were bound to happen because there is no real competition coming from the conventional market.  I agree that agents are going to be needing a GPS to find their way through the upcoming changes and I see more modifications head.

Jan 23, 2010 12:22 AM
Bob Corcoran
Corcoran Consulting & Coaching - Swansea, IL

Absolutely, Sam.the changes were needed. Like all changes, they will sting the first group of potential buyers who thought they had enough saved to buy a house, then discover they need nearly three times as much,

Jan 24, 2010 12:43 AM