We need a truly dynamic team player to execute truly remarkable settlements in the Carroll County and Frederick County areas of Maryland. Title experience would be nice, but really we need someone who can and will network, is not afraid to ask for business, and who is committed to providing the ultimate settlement experience for buyers, sellers, real estate agents and loan officers.
For more information and to apply, please clink this link.
Friday, May 8, 2009
Thursday, May 7, 2009
Notes from Terry Watson's Speaking Engagement in Falls Church, VA Today
[Note: Today's blog entry has been submitted remotely from Derek's Blackberry. I apologize for any typos and grammar issues!]
I have now seen Terry Watson speak on 3 different occasions, While nothing can replace seeing him live, I always come away with some notes and takeaways. I thought this would make for a great blog entry. If you want information on Terry, go to www.TerryWatson.com.
- Many agents leave themselves vulnerable. Example: Don't have 90% of your biz with one relo company. Ask yourself, "Where am I vulnerable?"
- Don't be the Polaroid, be the Kodak digital. Reinvent yourself.
- Cost-Benefit analyze EVERYTHING!
- Airlines have trimmed costs. Run your business like them. Cut costs wherever you can!
- Top Things to do NOW: Get a YouTube, Twitter, LinkedIn account. Reduce your debt. Market green. Tell, don't show. Use humor. CASE: Copy And Steal Everything!
- Use REALTOR.org Right Tools Right Now and ProQuest.
- Use media (articles, blog posts) to reinforce your points to buyers/sellers.
- Kill the urge to quit.
- Trademark your slogan.
- Every day, improve something just a little. Think Hyundai.
- Use video and photo extensively. No head shots, but full body shots doing stuff.
- Media's job is to shock and scare. Understand that.
- Read the book "Nuts" about Southwest airlines. It's OK to have a sense of humor.
- Show your customers where the money is going! Be transparent.
This is just a snapshot of what Terry brought to the table today. My notes could never fully capture his energy, passion and humor, but hopefully there is a nugget or two in this post that is helpful!
I have now seen Terry Watson speak on 3 different occasions, While nothing can replace seeing him live, I always come away with some notes and takeaways. I thought this would make for a great blog entry. If you want information on Terry, go to www.TerryWatson.com.
- Many agents leave themselves vulnerable. Example: Don't have 90% of your biz with one relo company. Ask yourself, "Where am I vulnerable?"
- Don't be the Polaroid, be the Kodak digital. Reinvent yourself.
- Cost-Benefit analyze EVERYTHING!
- Airlines have trimmed costs. Run your business like them. Cut costs wherever you can!
- Top Things to do NOW: Get a YouTube, Twitter, LinkedIn account. Reduce your debt. Market green. Tell, don't show. Use humor. CASE: Copy And Steal Everything!
- Use REALTOR.org Right Tools Right Now and ProQuest.
- Use media (articles, blog posts) to reinforce your points to buyers/sellers.
- Kill the urge to quit.
- Trademark your slogan.
- Every day, improve something just a little. Think Hyundai.
- Use video and photo extensively. No head shots, but full body shots doing stuff.
- Media's job is to shock and scare. Understand that.
- Read the book "Nuts" about Southwest airlines. It's OK to have a sense of humor.
- Show your customers where the money is going! Be transparent.
This is just a snapshot of what Terry brought to the table today. My notes could never fully capture his energy, passion and humor, but hopefully there is a nugget or two in this post that is helpful!
Wednesday, May 6, 2009
21 Day Blogging Challenge (VIDEO)
Check out the video below on our participation in the Real Estate Bar Camp Philadelphia "21 Days to Improve Your Blogging Habits" challenge:
For more information on Real Estate Bar Camp Philadelpia, as well as the 21 Day Challenge, check out this link --> http://rebarcamp.com/philadelphia
Tuesday, May 5, 2009
Short Sale "Arm's Length Transaction" Requirements
It should be obvious to many that a buyer of a short sale property cannot be related to the seller. A prerequisite of a short sale transaction is that the market dictates the price, and the lender is escaping further loss by reducing the principal balance rather than foreclose (and bear foreclosure and carrying costs). If, however the buyer is a relative of the seller, we cannot assume the sales price is "market." The fear is that the seller is really just escaping indebtedness while continuing to enjoy possession (if not defacto ownership) of the property.
But what about a real estate agent's relationship with the seller? We are finding that many (if not all) lenders also prohibit the payment of a commission to the listing agent who is related to the seller. Why? The principles are the same as described above. In short, the fear is that a related listing agent will just take his commission and give it to the seller. Remember that in a short sale a seller should walk away with nothing (or perhaps even bring in money). If the potential exists for a seller to earn some money from the sale, the short sale would not likely be approved.
As a real estate agent or broker, what do you do with this information?
If you (or one of your agents) are going to represent a relative seller in a short sale transaction, do not expect a commission. Be up front with the lender, and provide all agreements, disclosures and addendums with the short sale package, including the disclosure of any relationships between the parties. Ask - up front - what the lender's requirements are for a short sale. Spending a little time in the beginning of the process can save headache and miscommunication further down the line.
But what about a real estate agent's relationship with the seller? We are finding that many (if not all) lenders also prohibit the payment of a commission to the listing agent who is related to the seller. Why? The principles are the same as described above. In short, the fear is that a related listing agent will just take his commission and give it to the seller. Remember that in a short sale a seller should walk away with nothing (or perhaps even bring in money). If the potential exists for a seller to earn some money from the sale, the short sale would not likely be approved.
As a real estate agent or broker, what do you do with this information?
If you (or one of your agents) are going to represent a relative seller in a short sale transaction, do not expect a commission. Be up front with the lender, and provide all agreements, disclosures and addendums with the short sale package, including the disclosure of any relationships between the parties. Ask - up front - what the lender's requirements are for a short sale. Spending a little time in the beginning of the process can save headache and miscommunication further down the line.
Email Restored (Final Update)
Email has been restored, and no messages have been lost. Thank you for your patience.
Email Update
We have learned that while some people do have access to email, many more are still down. I will continue to update every hour.
If you need to send a package, documents, or a communication to us, feel free to use MASettlement@gmail.com while our IT team gets our servers back online. Our leadership team will be monitoring this email address while we continue to get the email servers restored.
Thank you for your patience.
If you need to send a package, documents, or a communication to us, feel free to use MASettlement@gmail.com while our IT team gets our servers back online. Our leadership team will be monitoring this email address while we continue to get the email servers restored.
Thank you for your patience.
Email is currently down
Our Exchange (email) server is currently down. I will keep everyone posted on our progress getting email restored, but during the interim please call your TSR or settlement coordinator for any immediate needs. I will update every hour until service is restored.
Thank you for your patience.
Thank you for your patience.
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