Central Florida Short Sales FAQ #1

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

What is a Short Sale?

Central Florida Real Estate Broker 407-873-2747A Short Sale is when you need to sell your property but the amount owed exceeds the value of the property AND you are asking the lien holder (lender) to accept less to remove the lien. You are asking your lender to accept a “short” payoff so you can sell and they can avoid the expense of a foreclosure. 

For example: You bought your house in 2005 and paid $250,000 for it. You mortgaged $230,000. You can no longer afford to keep the house because of a legitimate hardship. You MUST sale or you will be foreclosed on. 

The property is now only worth $200,000 (Market Value). Fortunately, you have a qualified Buyer willing to pay Market Value. After the expenses involved with selling the property there will only be $180,000 left over to pay the lender. 

So you either have to bring $50,000 to closing OR ask the lender to accept a “short” of $50,000 ($230,000-$180,000=$50,000). If the lender agrees you have just completed a Short Sale. 

****Next time we will discuss “hardship”. 

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.

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

2008 Market Report for Poinciana Florida.

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

Florida Real Estate Broker 407-873-2747

OK folks, here’s my year end market report for 2008. You read the papers and you watch the news. You hear all of the predictions and how bad things are. It’s very depressing!!! BUT….Real Estate is very very local. This report is very specific to Poinciana Florida. It has nothing to do with real estate in other areas. Some areas are better and some areas are….well….let’s just say some areas are better. If there are any that are worse please let me know. OK here goes………..

(INFO COMPILED FROM THE MID-FLORIDA REGIONAL MLS
SEARCH CRITERIA: ACTIVE 34758,34759 SUBDIVISION POIN) 

2008

MONTH

NUMBER

OF CLOSINGS

AVERAGE

SALES PRICE

MEDIAN

SALES PRICE

2007 MEDIAN

SALES PRICE

JANUARY

20

$141,847

$137,000

$225,000

FEBRUARY

26

$154,094

$152,000

$202,900

MARCH

35

$137,403

$131,230

$196,000

APRIL

31

$122,938

$120,000

$200,450

MAY

50

$131,519

$126,750

$189,500

JUNE

56

$122,597

$117,750

$199,000

JULY

64

$119,091

$119,500

$172,951

AUGUST

55

$106,455

$105,600

$179,250

SEPTEMBER

66

$108,986

$105,000

$188,159

OCTOBER

85

$94,721

$90,000

$187,548

NOVEMBER

77

$91,627

$85,000

$182,450

DECEMBER

107

$85,023

$82,900

$150,750

JAN-DEC

MARKET

TREND

AVERAGE

56 MONTH

MARKET

TREND

INCREASING

DOWN 41%

MARKET

TREND

RAPIDLY

DECLINING

DOWN 40%

MARKET TREND

RAPIDLY DECLINING

24 MONTH CHANGE

DOWN 63%

MARKET TREND

DECLINING

 

 Commentary from Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
 

I broke this analysis down to month by month in order to give you a true picture of what is going on in Poinciana Fl. Yearly averages will not work in a declining market. As you can see, the market in Poinciana is in dire straights. Properties ARE selling. In fact sales are increasing but…… 

There were 672 sales in 2008 compared with 420 in 2007. That’s an increase of 38%. However, 519 of these closings, for 2008, were distressed sales(either bank owned REOs or short sales). That’s 77%!!! 

There are currently 1,051 active listings (single family homes) in the Poinciana neighborhoods. This time last year there were 1,065. Not much movement there. 

The last 4 months we have averaged 87 closings. Using that figure there is currently 12.5 months of inventory on the market. That’s pretty good since last year this time there were 25 months of inventory. Prices are low enough that properties ARE selling. 

I find it incredible that the median price for homes sold in January of 2007 was $225,000 and 24 months later it’s $82,900. That just boggles my mind. What’s even worse is that the median price for houses that are under contract (pending) is $79,900. That means that prices are still declining. 

What can you buy in Poinciana Florida for $79,900 today?

 Cheap florida foreclosures 407-873-2747

 

How about this 2113 sq ft banked owned property with 4 bedrooms and 2.5 baths built in 2006?

 

Cheap florida foreclosure 407-873-2747

 

Or this 2093 sq ft REO with 4 bedrooms and 2 baths built in 2003?

 

 

If these won’t work there are 308 more properties for less than $80,000. 

Folks, this about sums it up. 2009 is going to be quite the ride. Foreclosures are going to increase and values are going to continue to decline. Unless you absolutely need to sell you property DON”T!!! If you must sell….call me. 

If you are a buyer, you need to be buying. Prices are awesome and rates are low. If you are waiting on the bottom you may very well miss it. The only way we will know we have hit bottom is when it is in our rear view mirror. 

So there you have it…. Broker Bryant’s year end market report for Poinciana Florida. I showed you mine will you show me yours? 

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   

Negotiating Multiple Offers. A Tutorial.

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

call Me 407-873-2747Hi Folks, If your market is saturated with REOs, as mine is, you may be incountering multiple offers quite frequently. This article, I wrote a couple of years ago. may help you deal with them.

Negotiating multiple offers. 

I don’t know about you but I love things in multiple. Multiple zeros on my bank balance, multiple listings, multiple closings and of course, multiple offers. Multiple offers, are one of my favorite things. It really places my Seller in the driver’s seat when it comes to negotiating and normally means we will be able to get a higher price for the house.

What I don’t like, is a common misconception, from Realtors, that I have to disclose multiple offers to them. Or, that I have to disclose the existence of any offers to them, whether received or not. Sometimes they expect this before they even show the property. I have even been accused of being “unethical” for not disclosing an offer. So first, let me make something perfectly clear, offers, whether one, or multiple, are nobody’s business but my Seller’s and mine. How we choose to handle the negotiations or disclosure is 100% my Seller’s choice.

Standard of Practice 1-15 

  • REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Where disclosure is authorized, REALTORS® shall also disclose whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker.(Adopted 1/03, Amended 1/06)) 

Standard of Practice 3-6 

  • REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation. (Adopted 5/86, Amended 1/04) 

Accepted offer, means, a pending contract. Florida law is quiet on this issue, as it should be. Negotiations are not dictated by State laws. And I’m sure you State’s laws are quiet on this as well.

So how do we handle multiple offers? Well, I am sure there are many ways, but here are a few examples of the way I do it and that seem to be quite common in my area. I will be curious to hear how they are handled in your area. 

  • Notify all Realtors/Buyers of multiple offers and request “highest and best” by a certain day and time. This technique is used quite a bit in my area, especially on bank owned properties. It is a pretty good way to weed out the lookers and concentrate on the serious buyers. Works best when you have numerous offers. Once they have submitted “highest and best”, the Seller can pick one that is acceptable, choose one or more to continue negotiating with or set another day and time and ask for “highest and best” again. Repeat until there is an acceptable offer. I’ve been the Buyer, on several foreclosures, where this technique was used and frankly, I ended up paying more than I wanted for the property. It turns into a competition and I hate losing. So this method definitely works.

 

  • Don’t disclose the existence of other offers, pick one and try to negotiate it. If you can’t, pick another one and do the same. The problem with this technique is it may take a few days to negotiate on one contract and while you are doing this the other one may withdraw their offer. Not one of my favorites but can work if you are already negotiating when the second offer comes in. 

 

  • Don’t disclose and negotiate all offers at the same time. I actually have done this many times. The key though is to make sure the Seller does not sign the counters. If they do, and the Buyer accepts it and signs, then you have an accepted offer and the game is over. This can be a good technique if all the offers are pretty close in price and all the Buyers are equally qualified. Then it is just a matter of who responds the fastest(motivation). You don’t disclose, because then they would all respond quickly. You want their motivation to be, that they are anxious to purchase, not that they are anxious to beat out the others. 

 

  • Disclose the existence of other offers and the amount of the offers. Play them against each other. Let them know they are competing and if you want this property you will have to beat the offer, or offers, I have on the table. Continue until only one is left. Hopefully it will be way over list price by this time. I used this technique during the boom time, so many times I can’t count them. Very successful way to negotiate. 

It is very important, that however you want to negotiate multiple offers, it is the Seller’s choice, not yours. Do not disclose multiple offers to another Realtor with out the permission of the Seller. After all, it is his deal not yours. So there you have it. I hope this helps. I am by no means an expert on this but I really do love multiple offers. 

So next time a Realtor ask you this, “Do you have any offers on this property” try this “I’m sorry, that’s confidential information but as we speak, this property is still actively on the market.” Does this help? 

Are you a Florida REALTOR(R) looking for a change? Check it out. http://TTRealtyNet.com

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

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

My Buyer only wants one house. Why make 14 offers?

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

Yes...it's BB!!!Making offers on Multiple properties. Do your Buyers do it? Mine do. And here’s why.

In the Central Florida market right now REOs (bank owned properties) make up a HUGE percentage of the saleable inventory of homes. Most sell very quickly, for higher than listing price and with multiple offers. 

This can be very frustrating for Buyers and their agents. It seems like every time you make an offer on a REO property it is either pending or a bidding war is going on. So what do you do?

What I do is have my Buyers make offers on numerous properties at the same time. We don’t even look at them. If a good property comes on the market I send an offer for my Buyer to sign and then we forward it right on to the REO agent. We want to get into the game.

Last week I presented 14 offers for one Buyer alone!!! My Buyer’s intent of course was to only purchase one property. Luckily we received acceptances on 2 of the 14. My Buyer was so excited he changed his mind and decided to buy both!! You just have to love it when that happens.

It happened to me this week too. So….submitting multiple offers turns out to be a very good thing. The Buyers are not only getting the property they want but they also getting a second one as a bonus!!

Now listing agents are probably not thrilled about this as we end up withdrawing a lot of offers. I had a conversation with one of the REO agents last week who asked me if the Buyer had seen the property. My answer was “no”. He seemed to be a little perturbed and actually said I couldn’t do that. Said I was “playing dirty”.

Now folks…..I don’t think I have ever seen a law that stated a Buyer needed to see a property in order to make an offer on it. Have you?

We look at the property between the time the offer is verbally accepted and the time the bank sends us over the final addendums. As you know, if you sell a lot of REOs, this could be a day or 2 weeks. Whatever it is it’s plenty of time to pop over and check out the property.

I’ve been primarily a Listing Broker my entire career. I think I’m getting pretty good at this Buyer stuff though.  Am I playing dirty or am I just doing the best I can for my Buyers? What say you?

Are you a Florida REALTOR(R) looking for a change? Check it out. http://TTRealtyNet.com

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

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

The Negotiator Interview……Saturday the 29th at 11am Eastern

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

THE NEGOTIATOR INTERVIEW

Saturday August 29th….(Now available on MP3) Wendy and I will be interviewing a Short Sale Negotiator from one of the major lenders. He’s been doing this for 18 years and is a wealth of information. He has agreed to spend 90 minutes answering our questions.

Wendy and I have been negotiating with him for a couple of weeks now and have finally came to terms on his fee and the terms for the interview. He has to remain anonymous as it could jeopardize his job if they knew he was giving this interview.

It’s feels kind of like “The Insider”!

We can assure you that the Interview is going to be awesome. Wendy and I spoke with him for about an hour recently and were blown away at the stuff we learned in such a short period of time. This knowledge WILL make you money.

The time is Saturday 29 August at 11:00am Eastern. The place is your computer as the interview is being done as a Webinar. The cost is…….

$27

The Interview is being recorded and will be available on MP3 just in case you can’t make it “live”.

Folks…… this may be the best $27 you have spent in a long time.

If you want to join us……….

Order The Negotiator Interview

Also, join www.ShortSaleSuperStars.com It’s FREE!!!

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

Have professional courtesy but don’t cross the line.

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

How professional is this?Hi folks. Let’s talk a little bit about professional courtesy. I hear this term quite a bit on AR and in my business. Usually, it goes something like this:

  • The listing agent should have told me he had other offers on the property, as a professional courtesy”.
  • “Even though my buyer’s offer was a low ball the listing broker should have gotten back to me before the offer expired, as a professional courtesy.”

You get my point. Anyway, let me see if I can shed some light on this professional courtesy “thingie”. First, I want to say, that anyone who has ever worked a deal with me will tell you that I am very professional in all that I do. I treat my peers with respect. I am always willing to help “newbies” in anyway I can and if I say I’m going to do something, I do it.

But, and it’s a big but, sometimes what you are expecting me to do, as a “professional courtesy”, is completely against what my customer/client is telling me to do or not do. Last time I checked, I work for my customer/clients NOT my peers.

My job, as a listing broker, is to look out for my Sellers and do everything I can to get their property sold in a reasonable amount of time and for a reasonable price. Sometimes, that may require my Seller and I to “sit on” your Buyer’s offer. We may even choose to ignore it completely. We can do that. We may even use your offer to negotiate a better deal with another Buyer. We can do that too.

And you know what? I don’t have to tell you I’m doing it. There is nothing unprofessional about that. Your Buyer is NOT my concern. What may seem like my lack of action or response, from your perspective, may very well be a negotiating strategy from my Seller’s perspective. Don’t jump to conclusions about my professionalism or lack of.

I completely agree that we should all work together and that we do not have to work in a disrespectful manner. We should be professionals in all we do. If you want to be a professional then please remember who you are working for and who is paying you. Your “professional courtesy” could very well jeopardize your customer/client’s position. How professional is that? What say you?

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

Want to see my Butt…….on?

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

Hi there. As some of you may have noticed I have this new little button at the bottom of my blog articles.

 

The BIO for Bryant Tutas

Go ahead and cllcik on it…..I’ll wait. OK are you back? What did you think?

I starting using this for two reasons.

  • First, I really felt I needed a disclosure on my blog. I write a lot of stuff about my business practices and short sales and wanted to make sure that folks know that everything I write is MY OPINION.
  • Secondly, I wanted to get “My Stuff” out there. My footers were starting to get too long and I did not like the way they looked. And even though they were too long they still didn’t have all the information that I wanted to get out there. So now I have a new button.

 

The BIO for Bryant Tutas

I liked it so much I also wanted to put it in my email signature. But I had a problem. Gmail does not allow HTML or links in your signatures. Not sure why….but they don’t. So……I did some research and found www.WiseStamp.com WiseStamp is an incredibale FireFox Extension that allows you to create numerous email signatures that will automatically pop up in your email. It’s FREE and it’s AWESOME!!!

Check out my new Gmail signature:

Sincerely,

Bryant Tutas
Tutas Towne Realty, Inc
407-873-2747
CLICK FOR MY BIO

You can add as many Social Network Icons as you like. Just click on the ones you want and add the link. It couldnt be any easier.
There you have it. Hope you like it. Do you?

 

The BIO for Bryant Tutas

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

 

News flash….."The Lovely Wife" is cooking tonight!!

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

I have a dilemma today. It seems I am about to run out of "For Sale" riders for my beautiful, shiny, night glow, Tutas Towne Realty signs. I guess that's a good problem to have. To me, signs in the ground mean money in the bank. And lately I have been making lot's of "deposits." It's been a long time since I had over 20 listings. Not there yet, but will be next week. It's been so busy the last couple of years I couldn't keep inventory. Place a home on the market on Monday and have multiple offers by Wednesday. Now that was fun!

Now that it takes a little longer for me to sell a house, inventory is up and sign riders are running low. So what do you do? I know, the obvious answer is buy more "For Sale" sign riders. I'm not sure why but to me that sounds too pessimistic. I think, what I would really like to do, is place some properties "pending". Now that sounds more like it. Place them "pending" and switch the rider from "For Sale" to "Sold". I like that. Frees up some sign riders and puts that "deposit" a little closer to my bank account.

Now maybe my thinking on this is a little strange. But hey, it usually is. In fact "The Lovely Wife" would say, my thinking is more than a little strange, on most occasions. But she does agree with me on the sign riders. Creating challenges like this, in my head, is what keeps me motivated. And for some reason I know that later this week, when I am down to my last rider, I can expect to place several of these properties "Sold". Problem solved. Life is funny like that. You usually get what you are expecting. I am expecting to get some deals this week and I will. I love it when that happens.

So what are you expecting next week? Are you expecting good things? Or are you expecting bad things? Are you expecting to sell some houses? Or are you expecting to be rejected? Do you go to your listing presentations with the agreement already completed except for the price? Or are you just going to feel out the situation and make another appointment?

Expectations. I truly love that word. Expectations. Real Estate is all about expectations. So the decision is yours. What will you expect next week? I hope you decide to expect good things. I can tell you from experience, that if you do, good things will happen.

I'm expecting "The Lovely Wife" to make me an excellent four course dinner tonight. Ok, so maybe it doesn't work all the time!

For goodness sakes! Pull your pants up!

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

I wrote a post on Buyer Broker’s Agreements the other day and lo and behold, the consumer showed up. Here are the comments from a Buyer left on my post. So this is just a reminder to be careful what you say and write. Unless it is a “Members Only” post the consumer can and will find it and read it. So don’t get caught with your pants down. Also, I thought his comments from a consumers perspective were excellent and sad. So read away. His comments are not edited in any way.

"******I read your post concerning BBA's and I am in total agreement; and I'm a BUYER, not an agent. However, allow me to share why I find myself forced to consider carefully the terms and length of the agreement. I am a buyer who recently sold his house and am looking for a house to enjoy my retirement and will pay cash. You'd think agents would recognize the opportunity, but that's not been my experience on multiple occasions. I had all the conversations, submitted my financials as a show of good faith that I do, in fact, have the cash, and thought I found an agent who would actually get up off his butt and work. Nothing was further from the truth……search was limited to emailing MLS listings……no response to an questions and requests for add'l information…..nadda….zilch. After a while I "fired" him and moved on. I contacted another agent and went through the same scenerio……only this one did less. You guessed it; "fired" her as well.

 I thought I'd change my approach and contacted an exclusive buyer's agent. His services include driving around and use of the MLS. Oh, he would consider knocking on the door of a FSBO if I insisted and, get this, would *possibly* help me sell my house if I chose to do so down the road…..*IF* I turned out to be a quality person of considerable character; otherwise, I, as he put it "Wouldn't get his help at all"! I sent him a polite email declining his services but he keeps emailing me saying he, as he put it in the last one, "Can do everything but walk on water". Now, before anyone asked what rock I found these people under, let me assure you each one has the "alphabet letters" after their name because I thought that would indicate professional service……wrong.

If it were not for the fact these experiences are in more than one state and more than one city, I'd say I just had a run of bad luck or I'm a poor judge of competency.

So, buyer's agreements are great, IF you, as the agent, actually fulfill your end of the deal. Please make sure you do and don't waste a qualified buyer's time and money.

From this point forward, any buyer's agent has to prove themselves FIRST before whipping out an agreement. In the meantime I'm going to milk as much information as possible from all the agents who "talk the talk" and then see what I come up with and who will represent me. You, as agents, have to watch out for your best interests; please allow me the same courtesy. Appreciate the opportunity to share my experience"********

So folks, watch what you write, whether it’s your post, or comments you are leaving. And for goodness sakes! Pull your pants up!

"Broker Bryant, please don’t fire me!"

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

I hear stories all the time about Sellers that are trying to get out of listing agreements and are trying to cut their Realtors out of the deal to save the commission. I have such a hard time relating to these things. I have never, in 12 years, had a Seller of mine do things behind my back. It just doesn't happen. Why? Well first, I think it boils down to being in constant communication with my Sellers. They know what I am doing for them every day and I know what they are doing everyday. My Sellers even call me if they have to run out to the store or if anything in their normal schedule changes. They want to make sure I can reach them at a moments notice. After all, we are a team and we need to be on the same page. Coordinating our schedules is a part of that. It keeps us connected.

Secondly, it's about trust. My Sellers trust me and I trust them. We have an understanding. A few years back, when TLW used to work with me, my Seller's loyalty used to drive her crazy. TLW did her best to take my calls and try to answer the Seller's questions, which she was quite capable of doing, but my Sellers would have none of that. They had to talk to me. No matter how simple their question was, they had to speak with me. There was no way to get around this. TLW could spend 30 minutes with them on the phone explaining everything and giving them updates and their final words would be, "Have Broker Bryant call us". Finally we just gave up and had all calls forwarded to my cell phone. That was six years ago and it has been that way ever since. It actually makes my job a lot easier since I rarely have calls to return. I just answer the phone.

Now, for those of you that read my posts, you know that I take 45 day listings. Well, this Thursday I have 10 of my listings that are expiring. No big deal. I called most of them today and have already extended them for another 45 days. I never lose listings, so extending them is really just a technicality. However, I did have an interesting experience today. One of my Sellers actually called me apologizing that I have not been able to sell his house and pleaded with me to extend his listing. I kid you not! He even said that he would lower the price by $10,000 if I would extend his listing. Now folks I must say this has never happened to me. It was pretty funny. I had to assure him that I had no intention of not renewing his listing and that I sell every listing I take. Don't know how long it will take, and don't know how much he will get, but I will sell his house. This seemed to put him at ease. So we extended the listing and we lowered the Range by $10,000.

So folks, I guess the point of this post is to show how important it is to have constant communication with your Sellers. By doing this you will build an unbreakable bond of trust. You won't ever have to worry about what your Sellers are up to or whether or not you are going to lose the listing. Sellers will stick with you until you get the job done. Now if you can team this with aggressive and proper pricing, your business will soar. Sellers will hunt you down to do business with you. Why? Because they trust you. Not from what you have done but from what they have heard. Word of mouth advertising is the best you can get and its free! So make constant communication your number one goal for 2007.

"Broker Bryant, please don't fire me!"

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.