Increase Property Showings By Treating Your Peers With Respect.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

How may I serve you?Hi folks. Earlier this week I re-posted an article titled “Does that 50 cents have to be on the HUD?”. That post contained a comment about another REALTOR(R) giving the code to my lock box to a buyer, so the buyer could do his own final walk through. Maybe I should have reported the REALTOR(R) to his Broker or filed an Ethics complaint. But I didn’t. This post explains why.

First, I list homes for sale in Poinciana Florida. That’s what I do. I rarely work with buyers. Therefore, my business depends on other REALTORS(R) showing and selling my listings. With that in mind, my business plan has always been to “market” my listings to other REALTORS(R) and to give them as much incentive as I can to want to show my listings. My good reputation with REALTORS(R) is how I make my living. My listings get showings, because over the years, REALTORS(R) have learned that they can trust that my properties will be priced right, clean and easy to show. No surprises.

The REALTOR(R), in my previous post, had actually done a pretty good job up to the point of giving out my lock box code. I had a discussion with him about this and it will not happen again. I complemented him on the good job he did in getting the deal closed and hope to have many more deals with him in the future. We got through the situation with no bad feelings. 

Would this had turned out this way if I reported him to his Broker or filed an Ethics complaint against him? No. Absolutely not. He would never had showed my listings again and my future Sellers would suffer because of that.

So, here is a short list of the things I do to ensure that my listings are getting shown. Not only shown, but shown constantly by other REALTORS(R).

My listings are:

1. Priced right, always. I am an expert on pricing.

2. Clean. Very clean.

3. Easy to show. No appointment necessary and always on a lock box.

Realtors can count on me to:1. Answer the phone. If not, return their call quickly. 8-8 seven days a week.

2. Always be professional.

3. Never loose my cool. Ever.

4. Negotiate the deal without voicing my opinion. It’s the Seller’s deal not mine.

5. Assist them in anyway I can to get the deal closed.

6. Take the time to help them if they are new to the business.

7. Discuss issues with them upfront and not in a confrontational manner.

8. Always be honest.

9. Always stay focused on the end result, getting my Seller a check.

10. Thank them for a job well done and let them know I really appreciate them showing and selling my listing.

Now, doesn’t all this sound better than filing an Ethic’s complaint or “telling on them” to their Broker? My Grandmother was the most loving, most generous, most caring and most honest person I have ever known. If I did anything less than this she would look down from heaven and shake her stick at me. I would never want that to happen.

So remember, treat your fellow REALTORS(R) with respect. Help them if necessary. Be patient with “newbies”, we were all one once. What say you?

Central Florida Short Sales FAQ #2

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

What is a hardship and why do I need one? 

Florida Real Estate Broker 407-873-2747

A Short Sale is one of several pre-foreclosure remedies. In order to request a Short Sale, from your Lender, you must have a hardship AND you have to be able to prove it. It has to be a legitimate hardship. 

 

Hardship:

Noun
1. conditions of life that are difficult to endure
2. something that causes suffering
 

A hardship is anything that makes it where you can not afford the payments on your house. A hardship is something drastic that has happened to your financial situation since you borrowed the money. You borrowed the money and you agreed to pay it back. Now you can’t. Notice I said CAN’T….not WON’T. Can’t is a hardship. Won’t is a deadbeat. 

A hardship may be the result of: 

  • Divorce
  • Job loss
  • Reduced income
  • Illness
  • Disability
  • Medical bills
  • Job relocation
  • Military duty
  • Incarceration
  • Failed business 

One of the key documents related to a short sale is the Hardship Letter. Whatever your hardship may be you will need to write a hand written letter telling your lender about it.

We’ll discuss the Hardship Letter next time. 

In the meantime, if you have a property that needs to be sold as a Short Sale just CLICK HERE. I’ll send a Short Sale Listing Package right over.

FAQ #1 What is a Short Sale?

CENTRAL FLORIDA REAL ESTATE SHORT SALE INFORMATION

POINCIANA FLORIDA REAL ESTATE MARKET REPORTS

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

MAKE AN OFFER ON ANY OF MY FLORIDA PROPERTY LISTINGS HERE

MORE INFO FROM BROKER BRYANT… THE SOURCE FOR POINCIANA REAL ESTATE

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved 

Desperation Creates Depreciation!!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Call me 407-873-2747Once I had a Seller. This poor guy had his house on the market for 7 months with another Realtor and only had 3 showings during that period. Well, fortunately for him, he listed his property with me when his listing expired. As usual I gave him the talk about leaving the house for showings. It really is simple, REALTOR(R) knocks on the door, Seller opens and says “hi” and then takes the dog for a walk around the block. What could be easier.

Anyway, I phoned him on a Monday afternoon to let him know he had his first showing coming by in about an hour. “Hi, Mr. Desperate, this is Broker Bryant. A REALTOR(R) is bringing some Buyers by in about an hour. Don’t forget, cut on all the lights and when they show up, take the dog for a walk around the block. By the time you get back, they will be done.”

He says, full of excitement, “Wow, Broker Bryant, I can’t believe you have people looking at my house already. I’ll be ready” So all is well.

I call Mr. Desperate the following day to make sure the REALTOR(R) showed up and he says, “Oh yes! They really seemed to like the house. WHILE I WAS SHOWING THEM AROUND they were asking questions about the utility bills and schools. They were here about 45 minutes.” Ok, now being the good little Realtor that I am, I chose to ignore his comment about showing them around and said, “Great, sounds like it was a good showing. I will contact their REALTOR(R) and see what they thought of the house.”

I call the Realtor, “Hi, SellmyListing, just checking to see how the showing went yesterday at my listing at 4321 Depreciation Ave.”

He started laughing! I’m not kidding, he was laughing. Then he said, “Broker Bryant, what is wrong with that Seller? He would not leave us alone. He followed us from room to room and would not be quiet. I finally gave up and just let him give the Buyers the tour. We had to see every inch of his house and listen to him tell us how we will never find another house as nice as his and blah blah blah.”

In shock, I asked “Well that sounds like fun. Did the Buyers like the house?”

His response was, “Broker Bryant, my Buyers were scared of this man, they actually did like the house but told me they would never buy a house from this guy. They said he was too desperate and there must be something wrong with the house, or neighborhood, that is making him act that way. If he had not been there, we would be writing you an offer on the house.”

Ok, SellmyListing, I really am sorry that happened to you and your Buyers. My Sellers know they are supposed to leave. Listen if you want to bring them back or any other Buyers through, I will make sure Mr. Desperate leaves. I am going to call him right now to reiterate this with him. Again, I really appreciate you showing my listing and sorry that happened.”

SellmyListing responded, “Don’t worry Broker Bryant, I know it’s not your fault, I have sold several of your listings in the past and know that you’re a true professional, in fact, you are the best Broker I have ever worked with.” Ok, Ok maybe he didn’t say EXACTLY that. But is was close. Maybe.

Anyway, I called Mr. Desperate back and gave him the news. He seemed to be a little shocked that he blew a possible deal out of the water but did, hopefully, learn his lesson. I made him promise to not do that again or I am coming over, getting my sign and going home. “No, no Broker Bryant, I promise to listen to you from now on.”

“No problem, Mr. Desperate, you are paying me a lot of money to get your home sold, so I am always going to be honest with you whether you like it or not. Deal?”

“Yes, I’m sorry, Broker Bryant.”

So the moral of the story is: Desperation creates depreciation! What say you?

****First published in August of 2006.

CENTRAL FLORIDA REAL ESTATE SHORT SALE INFORMATION

POINCIANA FLORIDA REAL ESTATE MARKET REPORTS

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

MAKE AN OFFER ON ANY OF MY FLORIDA PROPERTY LISTINGS HERE

MORE INFO FROM BROKER BRYANT… THE SOURCE FOR CENTRAL FLORIDA REAL ESTATE

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

 

Does "Short Sale" have to be disclosed?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

call me 407-873-2747“There is no state or federal law that requires a seller to provide any disclosure forms for a short sale.” This is from one of the attorneys for out Florida Association of Realtors.

I wonder how he reconciles that statement with this:

A Seller of a residential property, whether a bank or an individual and regardless of whether the seller occupied the property, is obligated under Florida law to disclose to a buyer all known facts that materially affect the value of the property which are not readily observable and are not known to the buyer. The disclosure obligation can be fulfilled via either a verbal or written disclosure.

Now I know for a fact that a  property’s value is affected negatively if a “short sale” is required in order to be sold.  And this is certainly NOT observable.

So what gives?

Short Sale Basics

Buyers Making Multiple Offers. What the……………………?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Big headHi folks. This post is a follow up to my recent post My Buyer only wants one house. Why make 14 offers? If you haven’t read that one….I’ll give you a brief synopsis. It’s about making offers on multiple properties even though my Buyers intent is to only purchase one of them.

I’m writing this post for clarity. I want to clarify what I’m doing and I need clarity on a few of the comments that were left.

First, a few people mentioned that they MUST have an escrow deposit in hand prior to submitting a purchase offer. If this is a law……….show it to me. I don’t believe it.

Secondly, I had two agents from Georgia comment about what their purchase contracts state about disclosure.

One said:
 
“In GA we actually have something in our contracts specifically for this. A checkbox in which the buyer must disclose whether this is their only offer or if they have others in the hopper simultaneously.”
 
The other wrote this:

“Actually, here in GA the Purchase Offer has a box to check for the buyer to either have or not have the right to enter into a contract on another property.”

One’s talking about offers the other is talking about contracts. Which is it? I would be SHOCKED if there were a State law in any State that stated a Buyer had to disclose if they were making offers on more than one property. If there is……show it to me. I don’t believe it.

OK….I’m not trying to be a dick….I just want clarity. These things are important. Sometimes things we think are illegal or unethical are not. If I’m wrong….. I want to be corrected. It’s how I learn.

Now let me clarify a couple of things.

  • I only use this tactic on REO properties.
  • I only use this tactic when working with experienced Investors with cash.
  • My Buyers do not back out of contracts. They do however withdraw offers.
  • There is no chance in heck of a Bank signing off on an offer without coming back with a stack of addendums.
  • Offers are presented with escrow deposit being deposited within 24 hours of acceptance.
  • My Buyers are making very strong, over list price, cash offers with the intent of purchasing the property.
  • If the offer is accepted in a timely fashion my Buyers will go under contract.

I think that’s it. Maybe when Wendy and I get finished with “Short Sale Basics” we’ll jump over to “Dealing With Buyers in a REO Market”. What do you think?

Short Sale Basics

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

Why do we work Short Sales?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

is this a short sale?

  • Working Short Sales is certainly not a glamorous job.
  • Short Sales don’t pay very well (at least in my area).
  • Short Sales are hard work.
  • Short Sales can be very frustrating.
  • Short Sales take a long time to get approved and closed.

Would I still work Short Sales if I had it to do all over again? Absolutely!!!! And here are a few reasons why……….

My husband and I currently live just outside of Manchester, New Hampshire.  We owned a house in Haines City, FL that we’d been trying to sell for over two years, but to no avail.  After having it listed with three different agents with not so much as a single offer, our next option was foreclosure which would have devastated our credit!   While doing a search online, I stumbled upon Bryant’s website which talked about alternatives to foreclosure, one of which was The Short Sale.   Bryant Tutas saved us from having to go into foreclosure!  He worked very hard for me and my husband and got the bank to accept the short sale!  Less than 4 months later, from start to finish, we closed!!!  Bryant was a God send to us and we would highly recommend him to anyone who wants to sell their home! – Lara and Dan

Bryant,  I want to thank you for all the help you provided in a professional manner. The short sell went well considering all the negotiations you had to do with First Horizon and Etrade. The end result saved us money and I hope some of our credit rating. I would not hesitate to recommend you to anyone interested in purchasing a home or doing a short sell.

Best Regards to you in the future,
David and Sara

When we first met Bryant we were at the point of total despair and we were seriously contemplating walking away from our home, but Bryant calmed our fears and explained to us the option to do a short sale, which is a better avenue than going into forecloseure. Just a short two months later Bryant got the bank to accept an offer. Our house was sold and most importantly we saved our credit. My wife and I now have a second chance to make it right this time. Thanks Bryant for all your hard work and dedication to us.

     Sincerely, Vanessa and Garry

It’s a tough job but someone has to do it!!! Do yo have what it takes?

Available Short Sale Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

***The content of this blog is solely my opinion***

SHORT SALE AGENT TRAINING

Florida REALTORS(R) needed!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Realtor opportunities

  • Are you an experienced REALTOR(R) looking for change?
  • Are you tired of going to the office?
  • Are you wanting to step into the exciting new world of WEB.2 technology?
  • Are you looking for a way to generate leads and substantial income while working from your home office?
  • Are you looking for a Broker who’s available to answer your questions and help you become the best that you can be?
  • Are you looking for individual coaching and training designed to fit your personal needs?
  • Are you wanting a compensation plan that makes YOU money?

If you answered YES to any of these questions then Tutas Towne Realty, Inc may be the place for you.

IF INTERESTED CLICK HERE

***Hiring home based REALTORS(R) through out Florida. Monthly fee or split. Experience required.

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

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

Kissimmee Florida Short Sale. You’ll like this one. Only $95,000

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Short Sale for sale in Poinciana Florida. 4 bedrooms 2.5 baths with over 2200 sq ft of living area on a huge double lot (.91 acre). Ceramic tile roof, Atrium, screened and covered rear porch, garden off the master suite, lots of cabinets in the garage, gated entry, security system and much more. Located 1 mile from SoliVita and 2 Championship golf courses. An incredible price of $95,000

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

Please don’t call me after 8pm

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Time management. This is a very important part of being a successful Realtor. Or, in being successful at anything, for that matter. We all have 24 hours a day. That's it, 24 hours. 24 hours to do business, spend time with our families, exercise, relax, eat and sleep. Now for me, I like to spend most of this time on the last two, eating and sleeping. Well, not really, even though I do love to eat and I cherish my down time, whether it's spent relaxing, reading, blogging on AR, playing with "The Lovely Wife" or sleeping. So how do I manage "down time" while still handling my business. Especially since I'm a solo Realtor.

First, I am very organized. I wake up everyday knowing exactly what I have to do that day and exactly how much time it will take to accomplish these things. I don't like surprises. I try not to change my schedule unless absolutely necessary. And most importantly, if it's on today's list, then it gets done today. I don't roll things over to the next day. At the end of the day, I start a new list, for the following day. All of this is kept on a legal pad that goes with me everywhere. It has my appointments for the day, phone calls that need to be made, signs that need to be delivered, task to do and so forth.

The biggest time saver for me is choosing not to work with Buyers. I don't have the time, desire or patience to do this. I have a network of Realtors, in my area, who I refer Buyers to. Being the Broker, my referral fee is just about what I would make if I had a Buyer's agent working for me, so what the heck. It also helps to build good relationships with my fellow Realtors and I don't have to spend my time supervising an employee. By doing this I am free to concentrate on getting listings, communicating with my Sellers, negotiating deals and following up on closings. These are the things I enjoy doing so why not do them exclusively?

Here's a list of a few other things that help me, with saving time. Hopefully, these will help you in your business.

  • One appointment listings. Do a short seller prequalification, on the phone, prior to your appointment and go over prepared, loaded with info and ready to list and put your sign in the yard. Before you leave, take all photos, measurements and give the Sellers their copies of the paperwork. In and out in 90 minutes. On to the next one.
  • Answer the phone. This is a major time saver. No calls to return. Answer the phone and your done.
  • Respond to E-mails as you read them. Read it, reply, your done.
  • Call your Sellers daily. This way they don't call you when you are busy. I do this while driving to and from appointments.
  • After a closing, close the file. I add the Buyers to my data base, send out thank you cards, go to quantum mail.com and send out my just sold mailers, order the Lowe's Rewards for the Buyer, send over the press release for the newspaper and deposit my check. Same day as closing, the file is in archives. Next!
  • Normal paper ads and monthly mailers are ordered for the year in January. The only thing left to do is pay the bills.
  • Group appointments and errands together. If you have to leave the office make it worth your while.
  • If you have to call a customer with negative news. Do it immediately. Don't worry about it. Don't stress over it. Don't try to figure out how to break the news. Your customers are adults, pick up the phone and make the call. Get it off your plate and together you and your customer can work on a solution. A stressed out Realtor is no good.
  • And my favorite all time, time saver. Don't take an overpriced listing or work with an unqualified and unmotivated Buyer. The ultimate time waster and stress maker.

That's it. Broker Bryant's crash course on time management. I'm a small time Realtor (by choice) but by utilizing these time saving techniques, I am able to limit my work to about 5 to 6 hours a day and still accomplish 40-60 closings a year, working by myself and from my home. So I know it can be done.

So, get a grip on your time, enjoy your business and enjoy your life. And please don't call me after 8pm……. because I will be playing with "The Lovely Wife" and the phone will be cut of.

My Sellers are not grapes!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Ok, so I spent the day showing properties. This, I have to say, is one of the things I hate most in life. I avoid it all costs. Realtors have made tons of money off of Buyers that I hand over to them. But today was special. I was with Sellers, of mine, who are needing to downsize and I wanted to give them an idea of what they can buy for less than $100,000. So not only did I spend all day showing listings but I was showing manufactured homes. This is something I have never done. The whole purpose of this little adventure was to be able to reduce their current home by another $10,000 to expedite a sale. They really, really need to downsize.

My Sellers are close to 70 and are no longer able to maintain their property. All of their money is wrapped up in their home and it is slowly disappearing. My sellers are being crushed by a rising mortgage balance and a depreciating market value. I know what you want to say, "Broker Bryant, how come their mortgage balance is going up? Aren’t they making payments?” Well, technically, no. In reality, yes.

Several years ago, these Sellers were sold on the idea of a Reverse Mortgage. At the time, it seemed like a great idea. No more payments and you can live in your house until you die. Here in lies the problem. No one can predict the future. Life has a way of going where it wants to and we are just in it for the ride. How were they to know that their health would fail and they could no longer maintain their 1750 sq ft home? How could they predict property taxes and insurance rates skyrocketing and property values taking a plunge? Could they have foreseen their interest rate going from 1.5% to 6.47% in the first 6 months? Life is funny like that, it goes where it wants to go.

So here is their current situation. They are on a fixed income. Property taxes and insurance payments are now equal to the PITI payment they used to make on their mortgage, that had a balance of $69,000. Since they do not make payments and the principle balance and interest only “payment” goes up every month, their current mortgage balance, after 3 years, is $101,000 and climbing by about $600 to $650 per month. This payment will continue to increase every month until they die or sell. Their house, that was worth $250,000 last year, is now worth about $230,000 and decreasing rapidly. So where does this leave them? Being crushed between a rising mortgage balance and a decreasing house value.

Now I will be the first to admit that I am ignorant when it comes to Reverse Mortgages. Over the last month I have been reading up on them and trying to become more knowledgeable. I have several Sellers right now that either have one or are thinking about getting one. Are Reverse Mortgages a good thing? I just don’t know. Are they for everybody? Definitely not. Should homeowners have counseling before getting one? Absolutely. Should we, as Realtors, recommend them or give advice on them? I don’t think so.

From what I have learned about Reverse Mortgages, they can either be a blessing or a curse. Extreme caution is recommended.

For my Sellers, it has been a curse. It was a short term solution to a long term problem. If counseled properly, it would have been in their best interest, to of sold their house a couple of years back and downsized. Now they are forced to sell. If not, they will be crushed financially.

Unfortunately, in order for this to work, we are now looking at manufactured housing. Hopefully, I can get their home sold and they can pay cash for their next house and have much lower taxes and insurance. We did look at some fairly nice places today and they have "got their heads around" what must be done, to secure a future, they can afford. I am so pleased that I am able to help them. This is why I do what I do.

Nice folks, in their 70s, should not have to worry about being crushed. I hate showing properties! But I hate my Sellers being crushed even more. My Sellers are not grapes!

About us

I am a licensed real estate Broker in the state of Florida. My opinions on real estate have been formed from my experiences and 15 years of working in the business. My opinions are in line with Florida Real Estate laws and the REALTOR(R) Code of Ethics. Your State’s laws may differ. So do your own homework before implementing any of my business practices into your business.