Archive for May, 2012

Are Short Sales *&^%$ You Off?

Posted by admin May - 17 - 2012 - Thursday ADD COMMENTS

Frustrated brokerI know I spend way too much time on hold with Lenders. It can be very frustrating. After holding for 30 minutes or more you finally get a representative that has no information for you at all. It all just seems like a big waste of time.

Or even better….you get an approval you have been waiting on for 5 months only to see they have the wrong Buyer!!

Or…after 6 months of nothing you get a request for information and are given a deadline of 24 hours before they close the file.

Or…you get the right Buyer approved only to find out the Buyer closed on another house yesterday!!

All of these things can make the life of a Short Sale Broker very stressful. But you know? These things are really not important in the grand scheme of things. Personally I quit stressing over Short Sales. Life is just too short (no pun intended). I just do the best I can and then let the chips fall where they may.

My sanity is mine. And I’m keeping it.

If you really want to see how insignificant all of this really is……click here. (After you go to the link click on the picture).

Be awed. It’s good for the soul.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved

Want to pick up a few extra customer/clients this year?

Posted by admin May - 17 - 2012 - Thursday ADD COMMENTS

Central Florida Real Estate Broker 407-873-2747Try this….after you have a closing on one of your listings give it about 2 days before you go by and pick up your sign and lock box. You may think my timing on this is a little odd but actually…..it’s just right.

Since I am primarily a listing Broker, my customer, the Seller, is normally moving out of Sate and getting any future business from them is rare. So my goal is to be the “go to guy” for the Buyer that has just purchased one of my listings.

Picking up my sign and lock box, a couple of days after closing, is something I do on purpose. The reason is, I want to knock on the door and introduce myself to the new owners. In fact, Itake a minute and get a picture of then standing next to the “sold” sign in front of their new house. I Email it to them later with the video tour  I have for the property.

Even though they had an agent it is my experience, that in most cases, they never hear from their agent again once the deal is closed. The check is cashed and they are out of there. Foolish? Yes. But true.

So, like the good little Broker that I am, I seize this opportunity to snag a Buyer who more than likely will be my new Seller in a few years.

I’m not pushy. I just introduce myself and see if there is anything I can do for them. I let them know I have been selling Real Estate in the area for 14 years and let them know they can call me if they need any help.

And they do call. They call to get information related to the area and they also call if there are any minor issues with the house. Once they have called….they are mine. I will gladly help them out with anything they need. I become their new REALTOR®.

It’s a small thing to do but it’s great for business. I’m not quite sure why Buyer’s agents don’t keep in touch with their Buyers. But if they won’t….I will. After all, today’s Buyer is tomorrow’s Seller.

Marketing does not have to be complicated. What say you?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved

TOP SHORT SALE STORIES OF THE YEAR

Posted by admin May - 17 - 2012 - Thursday ADD COMMENTS

I love my new partner Wendy. There I said it!!!!

Via Wendy Rulnick “Its Wendy!” Destin Short Sales (Rulnick Realty, Inc.):

It was a hectic year for short sales, but there was some good news, big and little, that brings hope for 2010.  Here are my top short sale stories for the past twelve months, some personal, some national.

Best Destin Short Sale
1.  The first story is a Happy Short Sale Saga.  One of my Destin Florida sellers regained employment, so did not have to sell the home he and his family desperately loved!  I gladly withdrew the property from the market.  Specializing in short sales is often more than closing the sale.

2.  HAP – The Homeowner Assistance Program (HAP) is a government program expanded to help our military members who have orders to relocate from bases such as Eglin Air Force Base and Hurlburt Field.  Many of these servicemen are upside-down in their mortgages, and HAP is supposed to cover 90% of their loss so they can avoid foreclosure.  HAP has not helped many yet and is flooded with applications. The good news is that they are improving their information and refining their system, so hopefully more of our military will be helped in 2010. 

3.  HAFA – The Home Affordable Foreclosure Alternative Program is supposed to get short sale lenders/servicers on board to speed up approvals for homeowners of primary residences.  It offers guidelines and incentives to pre-approve short sales and forgive deficiencies.  We’ll watch carefully in the spring to report on HAFA progress- or not.

4.  Short Sale Training – My first webinar marked the beginning of my business partnership with Bryant Tutas.  I prepared for the webinar with nervous trepidation, but ended up loving doing these classes! Simply put, it was a blast!  Not only did Bryant and I educate others, it helped me grow personally. We have since incorporated as REGrow, LLC.  Expect more good things in 2010. 

 

Short Sale Superstars

 

5. www.ShortSaleSuperstars.com  is the community Bryant Tutas and I founded to help short sale agents across the country “Learn, Know and Grow”.  In little over five months, our group is now almost 750 members strong.  Here, short sale professionals jump in to share secrets and information about every and any lender or short sale situation you can imagine.  Here, they are unlocking the knowledge to save more homeowners from foreclosure and do it at the highest levels.  This is a tight community of giving short sale leaders that is open for membership. If you have not yet joined – we welcome you to come with us on this exciting adventure.

As a final note, for 2010, I hope we all find greater solutions to the foreclosure and home ownership crisis that is touching the lives of every one of us.

It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Destin Real Estate Blog

www.ShortSaleSuperstars.com for agents

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Wendy is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. 

FREE Agent Short Sale Training. ***CONTEST***

Posted by admin May - 17 - 2012 - Thursday ADD COMMENTS
http://shortsalesuperstars.com
Hi folks. What better way to bring in the New Year than to have a contest. Wendy and I have been thinking of some ways to give back next year. As you know, both of us have a passion for Short Sales. We LOVE helping folks avoid foreclosure. So we’ve decided to have a contest and give away some goodies!!

Let’s start with the prizes first.

  • First place prize will be the complete Short Sale Agent Training Webinar taught by Wendy and I. This training consist of 5 MP3s with almost 8 hours of training that walks you through a Short Sale Transaction from beginning to end. We’ll also include the Short Sale Listing Package. VALUE: $124.00 
  • Second place prize is The Negotiator Interview. This is an MP3 of Wendy and I interviewing a Short Sale Negotiator from one of the major lenders. “Craig” has been handling short sales for 18 years and spends 90 minutes answering questions from Wendy and I about the Short Sale process and what the lenders are looking for. We’ll also throw in a Short Sale Superstars Tee Shirt VALUE: $60.00 
  • Third place prize is………a set of steak knives VALUE: Not much

The contest:

Write an article answering one of these two questions.

  • What can be done to help make the Short Sale process run smoother?
  • Why do you want to do Short Sales?

Top three articles, as judged by Wendy and I, win. Entries have to be submitted no later than midnight eastern time Thursday January 7th. The winners will be published by Monday the 11th.

“So, Broker Bryant, how do we enter?” Good question.

  • Write your article. The article must be posted on the ShortSaleSuperStars site as a blog post. “tag” it contest.
  • Link to this article in your blog post.
  • Come back here (My ActiveRain blog) and link to your blog post in the comment section of this post.

That’s it!!! If you have any questions you can email me direct at BrokerBryant@gmail.com and I’ll get you squared away.

And if you can’t wait to get your Short Sale Agent Training…..we won’t get mad if you just go ahead and make a purchase!

Available Short Sale Agent Training:

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

Copyright © 2009 REGrow, LLC | All Rights Reserved

Quit whining about Short Sales. YOU are the problem.

Posted by admin May - 17 - 2012 - Thursday ADD COMMENTS

Need preforeclosure assistance? 407-873-2747

Hi folks. I was commenting on an article by Russell Shaw over at AgentGenius earlier and one person actually stated that instead of trying to solve the short sale issue we should be working on speeding up the foreclosure process.

Speed up foreclosures? Sorry but I’m in the business of helping people salvage some of their credit and get out of a bad situation with the least amount of damage. Speeding up the foreclosure process helps nobody.

Short sales fail due to:

  • Lack of knowledge on the part of the agent.
  • Contract prices that are too low.
  • Not qualifying the seller at time of listing.
  • Not setting realistic expectations.
  • Impatience.
Lenders are slow to respond due to:
  • Multiple offers clogging up the system.
  • Fake purchase contracts.
  • Incomplete Short Sale packages.
  • Fraudulent Seller financials.
  • Unnecessary phone calls.
Now folks I do know that the lenders are PART of the problem. But my honest opinion is that incompetent agents are an even bigger issue. I know this because I deal with agents on both sides of the transaction everyday that are truly clueless about the process. These agents are clogging up the system and jeopardizing their customer/clients financial futures.
I heard yesterday, from someone in the know, that the person in charge of training for one of the Major State REALTOR(R) associations has NEVER done a short sale transaction!! How ridiculous is that?
If you are handling Short Sales PLEASE join www.ShortSaleSuperStars.com. Together we can make a difference. You don’t have to fake it. Short Sales are serious businesss and we are here to help in any way we can. OK?

 

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

Do you really know who you’re talking to?

Posted by admin May - 17 - 2012 - Thursday ADD COMMENTS

Call me 407-873-2747Have you ever had one of your Sellers call you and pretend they were a Buyer? Well I have. I’m not 100% positive, but I am about 98% sure that is was one of my own Sellers checking up on me. I could tell that whoever it was, was disguising their voice, and the questions that were being asked me, about their own house, were very odd. It went something like this: One ringy dingy…….two ringy dingy…………………

“Hello, Tutas Towne Realty, this is the incredibly good looking Broker Bryant how can I help you?” “Yes, I was riding around and noticed the house at 321 Desperate Dr. Can you tell me how much it is?” Now the person who called had disguised their voice so much, that she sounded like a very old lady that had a mouth full of sand. I couldn’t really make out what she was saying so I asked her how I could help her today. She repeated the above statement. I said, “Well, how are you today?” “Oh I’m a little tired.”Me too, hold on a minute and let me pull the file” So I did and came back and told her the price.

The caller then proceeded to ask me why the house was so inexpensive and how come it hadn’t sold yet being that is was priced so low. She also mentioned how the house down the street was the same price but only had 3 bedrooms. She then told me how nice the house was and blah blah blah…….. About half way through her ramblings, her voice slipped back into her normal “man’s voice” for just a second and then back to a different disguised voice. It was really odd. I know it was my Seller.

This particular Seller is in a pre-foreclosure situation. I had just spoken with him the day before and he was telling me how he had just received a loan modification agreement from his Lender and needed to get it back to them by the 26th of December with a check. The only problem was he didn’t have any money and actually asked me to loan it to him. No, that’s not right, he suggested that I “invest” it with him. He would pay me back at the end of the month and then add an additional $500.00 to my commission at closing. I told him, no. I could tell he wasn’t pleased with my response. He had asked me this same question the week before and had received the same answer.

Anyway, I played the game and answered all “her” questions and asked if she would like to make an appointment to see the house. She said she would call me tomorrow after she looked at the house down the street.

Now folks, I could be wrong but I really do think this was my Seller. I think he was checking up on me to make sure I was answering my phone and to see how I talk to folks when they call in. I’ve had this happen in the past so I know it’s possible. So I’m just wondering….have you ever been checked up on by your Seller? Did you past the test?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

Have a Bertha Chistmas!!!

Posted by admin May - 17 - 2012 - Thursday ADD COMMENTS

Twas the nightmare ‘for Christmas, when all through the house

The only creature stirring was wearing a blouse.

Her stockings were hung by the chimney with care

As she hoped that her loved ones wouldn’t notice her hair.

The Rainers were shocked as their eyes turned so red

With visions of Bertha burned in their heads

And TLW suffered with agony of living with me

Sometimes all man and sometimes a she.

Now, Dasher! now, Dancer! now, Prancer and Vixen!

Oh screw it……just watch the video!!!

Disclosure: Before actually clicking on the video please remove any objects from your mouth. While you’re at it, you should probably clear the area around your computer, just to be on the safe side.


Watch Bertha Merry Christmas in Funny Videos | View More Free Videos Online at Veoh.com

Video…Sole Property Of TLW and ROAR! Productions

Hi folks. We are quickly closing in on 2010.  With that in mind I am writing this post to give you a very simple way to achieve your financials goals for next year. First I want you to punch your numbers into this chart. We are looking for how much GFI (Gross Commission Income) you need to meet your financial obligations based on the lifestyle you want to live.

Gross Commission Income Chart

The amount of GCI (Gross Commission Income) needed is $117,500. So how do you get there?

  • Average sales price in your market area X the average commission X your % split=Your ADPT (Average Dollar Per Transaction).
  • GCI divided by ADPT divided by 12=How many transaction you need to close per month.
  • Active Listings in your Market divided by Listings Sold Per Month=How many listings you need per sale X transactions you need to close per month= How many saleable listings you need to maintain.

The math based on the numbers in my example would be:

  • $125,000 X .0275 = $3,437 X .70 = $2,406 (ADPT)
  • $117,500 (GCI) / $2,406 (ADPT) = 49 / 12 = 4 (need to close per month)
  • 600 (Active Listings) / 100 (Sold per month) = 6 X 4 = 24 (Saleable Listings)

Based on this example you would need to maintain 24 listings at all times and would need to list 4 a month. Throw in some Buyer deals and you could have a fairly decent year.

The point of this exercise is to show you how to lay out your financial map so you can make sure you are meeting your obligations with ease.

A final tip:

There are only three ways to increase your GCI.

  • Increase the number of units you sell.
  • Increase the sale price of the units you sell.
  • Increase the fees that you charge.

Does this help?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

No Short Sale for you!!

Posted by admin May - 17 - 2012 - Thursday ADD COMMENTS

www.CentralFloridaShortSales.com

Hi folks. Just when I think I have this Short Sale stuff figured out I run across another issue that has the potential to really place my sellers, the buyers and the agents in a difficult quandary.

Yesterday I received a phone message from Chase in relation to a Short Sale we closed on almost two weeks ago. It went something like this “Hi this is Sarah from Chase calling on LN# 11324567. I am preparing the post closing package to send off to the Investor and noticed that I need the last 2 months bank statements from the Borrower. Please fax these over to me by the end of business today or I will return the check and close the file. Thank You.

YIKES!!! This call came in at 1:00 in the afternoon while I was out of the office. So needless to say I had to scramble to reach the Seller and luckily she was able to get the statements to me in time. I was lucky because my Seller was in the hospital but just happened to have her relative in town who was able to run around and get this taken care of.

The Buyer has already spent about $10,000 rehabbing since he closed on the property two weeks ago.

The frustrating part is that Chase had issued the approval and approved the final HUD for closing.

This has happened to me 3 times over the last few months. You know….I can understand the Lender requesting additional information after closing to complete a closing file but this threatening to return the check and close the file is really starting to piss me off. AND….they only give you a few hours to solve the problem after it took them 7 months to approve the deal.

So….I wonder what would happen if they did return the check and closed the file? The deal has already been closed so I’m pretty sure they can’t undo that. Could they? Could they refuse to remove the lien even though all closing conditions were met? What do you think?

 

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

 

How about a burger? Mine's better.

***FOR REASONS BEYOND MY CONTROL THE COMMENT THREAD ON THIS POST WAS SHUT DOWN BY ACTIVERAIN DUE TO TOO MANY COMMENTS. They are working on the issue. My apologies for our conversation being yanked in the middle of talking.

Hi folks. Debe Maxwell wrote a post yesterday titled “I won’t swim in your toilet if you don’t pee in my pool. Her post, in a nutshell, is about a REALTOR® actively soliciting one of her active listings.

If you haven’t read her post please take a minute to do so. I’ll wait. La lala la lala….OK are you back? As you can see from the comments on Debe’s post “Slimy Sammy” got himself into a whole bunch of doodoo by breaking our REALTOR® Code of Ethics.

There are several CoE violations but the main one is SOP16-4 “REALTORS® shall not solicit a listing that is currently listed exclusively with another Broker”

My personal opinion about this particular Standard of Practice is that it was written to protect REALTORS® NOT the public. I feel it prohibits competitive business practices and in fact causes the consumer harm. Here’s why.

How many times have you seen a listing in the MLS that has most of the information either missing or incorrect? Or has one picture? Or is grossly overpriced?

What if the seller could be made aware of this? What if as a REALTOR® I could knock on the front door of your listing and say “Hi Mr. Seller, I was looking at properties in the MLS this morning and noticed that your current listing was full of wrong information. Were you aware of this? Let me show you how it could be better.” 

Notice I didn’t say anything disparaging about their agent? I didn’t say anything false or misleading about the other agent’s business. All I did was point out the facts.

Do you think if we were free to solicit each other‘s business that maybe just maybe REALTORS® would be forced to up their game? Do you think this would give the consumer more protection? I do.

I call it competitive business. Why do you think McDonalds is across the street from Burger King. Publix across from Winn Dixie? It’s to give the consumer choices. These businesses are forced to compete. And the winner is the consumer.

As a listing Broker I have no problem at all if you want to contact my sellers and solicit their business. I am 100% confident in my ability to earn and keep my customer/clients’ business. Are you?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved