List with me and just pay me whatever you feel like!!!

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

Florida Real Estate BrokerMarianna Wagner started quite the discussion earlier this week with her post, “How to Take Advantage of Struggling Real Estate Agents, as a Seller”. I was going to write a post to address many of the comments about “I’ll show any listing regardless of commission” and “I always put my client’s interest first” but then I realized I had already written that post. So here it is.

************************************************************

Are you being honest with yourself?
First posted 2-24-2008

Here’s a little scenario for you.

“Hi Broker Bryant. We saw your ad in the paper and would like to list our property with you.”

  • Excellent!! I’ll be right over.

So, I head over and give them my little spiel and they want to list with me.

  • OK folks sign here and here and I will get your property up and running on the market.

“But Broker Bryant…..how much do you charge?”

  • Folks, I am bound by the REALTOR® Code of Ethics that states:

When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary”

  • Since your best interest is getting the property sold with the least costs to you I will leave the commission up to you. If I didn’t do this I would be putting my interest and lively hood ahead of yours and would be in violation of our CoE. So just pay me whatever you want.

“Well that sounds great Broker Bryant!! You’re the bomb!!”

  • Yes, I am. Commission does not matter to me at all. I’ll gladly work for free if it is in your best interest. That why I’m a REALTOR®. Make sure and tell your friends too.

“But Broker Bryant….don’t we have to offer the other agent some money to show and sell our property.”

  • Yes I’m afraid you do. Our MLS will not allow a property to go into the system unless we offer the selling broker compensation.

“How much do we need to offer?”

  • Well folks remember the other broker will be a REALTOR® too and is bound by the same CoE that I am:

When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary”

  • So why don’t we just offer them $1. Most REALTORS® don’t look at the commission anyway. They just want to get the best deal for their Buyers. The co-broke doesn’t really matter. In fact, if they don’t show your property we can bring them up on Ethics charges.

“Broker Bryant….we are soooooo glad we called you. You have far exceeded our expectations. No one has ever explained your ethical duties like this before. We’ll be sure to send you lots of referrals!”

  • Thank you folks!! It sounds like my job here is done!!. Before I leave can I borrow a fiver to pay for my gas home? THE END.

Sounds foolish doesn’t it? Well if you feel we have to show every property regardless of the co-broke then this is exactly what you are implying. Or does your incorrect interpretation of the CoE only apply to Buyer Brokers?

If you are telling your Sellers that Buyer Brokers must show their property regardless of the co-broke you are harming them and in fact may be in violation of the CoE. And if you are telling them that Buyer Brokers, who do not show their property, are acting unethical and illegally then you are wrong and may very well find yourself in front of an Ethics Committee.

But, by all means, if you CHOOSE to show all listings, regardless of the co-broke, you are free to do so. Personally, I think you are fooling yourselves. It is your business though. Just know that you do not have to do so. Of course, you do need to have this conversation with your Buyer.

Food for thought?

More posts about Buyer’s Broker Agreements

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

Sell Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

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

10 Things, From Broker Bryant, To Help you in Your Business!

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

Florida Real Estate Broker 407-873-2747Hi folks. Here are 10 things you can do that may help you in your business.

1. Use Google Docs (forms) to capture leads.

2. Set up a Google Calendar for all of your listings and invite your sellers to “share”.  Every time you take an action with their listings enter it on the calendar and the seller will get an email.

3. Set your Sellers up with auto property searches through your MLS. Anytime a property is listed or sold that is similar to theirs they will get an auto update.  

4. Place all of the photos for your listing in a “Picasa Web Album”. Invite the Seller to share this album so they have pictures to send to their friends.

5. Use feedburner to subscribe to your own blog. When your new article comes through your email looking all purdy use it as an E-newsletter and blast it out to your data base. 

6. Write long winded email responses and then use them as blog posts 🙂 

7. Tell all of your competitors that short sales suck. Then list as many short sales as you can.

8. Only work with online buyers that are willing to buy sight unseen. Send all others to C-21.

9. Have a library of email templates so you don’t have to write the same responses over an over again.  

10. Stay away from Twitter!!!

Ok that’s it for now. I just bet a couple of these things will make you more productive. What say you?

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

How cool is that?

Let’s jump right in to my Poinciana Market Report for March 2009.

*****This report will encompass Poinciana Florida zip codes 34758 and 34759 excluding Solivita, Lake Marion Shores and Cypress Woods. This data was pulled form the Mid-Florida Regional Multiple Listing Service on 3-13-09. 

Check it out. Inventory is DOWN to 812 properties. Thirty days ago there were 932 properties on the market. That’s a decrease of 15%. 

Now here’s the biggie. There were 152 closings in March 2009. That’s the highest amount of resale closings in a month…..EVER! That’s EVER as in “We have NEVER had that many closings in any 30 day period since Poinciana was established in 1973″. 

Folks this is huge. Inventory is down and sales are way up. This is actually right in line with what you hear on the National news. 

But let’s look a little closer. Of the 152 sales last month, 121 were either REOs or Short Sales. That’s 80%. 

Of the 385 closings thus far for 2009, 315 were distressed properties. That’s 82%. 

In December 2008 the average home sale was for $85,023. In March 2009 it was $70,620!! So, even though inventory is way down and sales are at an all time high, values have still declined by 17% in Q1 2009. 

Why is that? Usually declining inventory and increased sales cause prices to go up. Well that would be true except…….80% of the sales are distressed properties. Lenders and pre-foreclosure Sellers are not concerned with maximizing price they are concerned with selling their property quickly. The way to do that is to be the best priced property on the market. 

In order to be the best priced property on the market listing agents keep “leap frogging” their listings ahead of the others. If you price your listing at $50,000 I’m going to price mine at $49,000 and so on and so on. Make sense? 

I did further research today to try and find out when the absolute peak of the market was in Poinciana Florida. I found it. It was May 2006. In May 2006 there were 102 sales in the Poinciana neighborhoods. Of these there were NO distressed sales. The average price was $220,206 or $136.28 per sq ft. 

The average price for March 2009 was $70,620 or $41.24 per sq ft. Folks that’s a decrease of 70% since the peak of the market a little less than 3 years ago. 

What does all of this mean? It means that Poinciana is getting very, very close to hitting the bottom. If you are waiting for this……now is the time to start looking for a place to buy. Now I by no means believe prices will start going way up but I do believe they are going to level out and slowly start increasing. Don’t wait too long to get back into the market. 

So how’s your market?

CENTRAL FLORIDA REAL ESTATE SHORT SALE INFORMATION

POINCIANA FLORIDA REAL ESTATE MARKET REPORTS

MAKE AN OFFER ON ANY  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  

 

"All Things Are Difficult Before They Are Easy"

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

 

OK so my new partner is suckin’ up again!!! She’s good at it too. Check it out………..

 

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

Short Sale Class by Wendy Rulnick and Broker Bryant

 

A few weeks ago my life started to change.   I was asked to step outside my boundaries and outside of my comfort zone.   What happened?  I “met” Bryant Tutas otherwise known as “Broker Bryant” on Activerain.   You may have heard of him- he’s one of the best-known real estate bloggers around.   His writing is insightful, direct, witty and often very funny.   He’s got quite a following.

Anyway, in the past several months I started to notice Broker Bryant’s comments on my blog posts and others.   I noticed we were “simpatico”, of like-mind, on many topics, notably short sales.   We exchanged a few emails, and a couple of months ago, Bryant asked me if I was interested in doing a joint venture. Among other things, he wanted to know if I would do a live webinar with him about short sales.

Well, ignorant me, I did not even know what a webinar was!   I had to look it up. If you don’t know– a webinar is an “online live educational presentation”.   Bryant and I would teach real estate agents about short sales.   That idea scared the heck out of me, but how could I say “no”?   I love short sales!   I love discussing them, analyzing them, doing them and answering questions about them.   I welcome calls from agents in my area or around the country looking for information or direction on short sales.   I love helping the consumer with short sales.   And that is what I do all day.   So does Bryant.

But what would we have to offer that would be different?   There are a lot of “classes” about short sales.   The difference here is that we are both practicing real estate agents who spend 90% of our time listing and selling short sales.   And we do them from beginning to end.   Bryant and I do all our own negotiating, we don’t refer out to a law firm, title agency, assistant or loss mitigation company.   (Not that there is anything wrong with that).   We are the ones on the telephone on hold with the negotiators- every day, getting sales closed.   We think that our practical experience with the day-to-day workings of short sales can benefit others.   We want to share what we’ve learned in a forum to provide concrete knowledge.

Enough about that.   I am still nervous.   We’ve never done this before- although Bryant has appeared on other webinars.   So forgive us in advance if we goof up a little, or pause or stutter (especially me).   What you will get, I promise, if you sign up for our webinar- is practical, usable, comprehensive information on short sales. 
The first session of our five-part series is Saturday, June 27 at 11:00 a.m. Eastern.   Join us.

Short Sale Basics

It’s Wendy!

Wendy Rulnick, Broker Rulnick Realty, Inc.

itswendy@rulnickrealty.com

A Loan Modification May Cost You 50 Points on Your FICO Score!!!

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

Florida real estate broker

 

Hi folks. I just read this and had to share……

“Unfortunately, the “Big Three” credit bureaus – Equifax, Experian and TransUnion – have issued new guidelines that allow lenders to report new mortgage loan modifications as “partial payment status,” a designation that could lower an individual’s credit score by more than 50 points.”

It’s my opinion that being penalized for doing a loan modifcation is just BS to the nth degree! It’s like why bother? Why not just go ahead and do the short sale and move on with your life?

What will they think of next?

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***

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

 

 

Short Sale Approval letters

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

Tutas Towne Realty, Inc

Hi folks. Ever wondered what your Short Sale Approval will look like? Wonder know more. I have embedded several Short Sale approvals that I recently received for my sellers. These will give you an idea of what to expect when you sell your Central Florida Short Sale.

I have included:

  • Wells Fargo Short sale Approval
  • Green Tree Short Sale Approval
  • HomEq Short Sale Approval
  • ASC Short Sale Approval
  • 1st Horizon Short Sale Approval
  • PNC Bank Short Sale Approval

I have also included a sample Promissory Note. Folks, if you need help avoiding foreclosure in Central Florida then give me a call. I CAN help. OK?

Short Sale Approvals

Florida Property search

Available Short Sale Agent Training:

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

 

7 months after submission we have Short Sale approval from Chase!!

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

 

Yep….7 months ago I submitted a complete Short Sale Package to Chase on April 27 2009. After many months of frustration I received another Chase Short Sale Approval yesterday. We are closing on 11 December.

You know sometimes I am left just scratching my head. This one should have been a no brainer. The Sellers are both retired and disabled. They were able to purchase this home in late 2005 using a $100,000 cash settlement they received from a wrongful death suit for their son. Their son had always wanted to live in Florida so they took the $100,000 and put it down on a house that was selling for $183,000.

Of course what they couldn’t have predicted was that their daughter who was supposed to move in with them and help with the mortgage payment decided after living in Florida for 2 months that she didn’t like it. So she moved, Mom and Dad were now stuck with a house they couldn’t afford.

When I first met them they were very depressed and couldn’t wait for a buyer to come along and pay them $150,000 so they could move back home. Their mortgage balance at the time was about $90,000 and they didn’t understand that their property was worth far less. How could they be upside down on their mortgage already?

These folks had done everything “right”. They bought a house that was priced OK and put 60% down. Who would have ever though that within 24 months their equity was gone. And this wasn’t just paper equity that we hear about so often. It was $100,000 CASH!

I sure wish I would have met them before they placed all the money they had into a property. Telling people of this age they have lost everything is by far the worse part of my job.

Eventually I was able to get them to understand that all of their equity was gone. They needed to pack up and move back to NY to be with friends and family. So that’s what they did. Almost 80 years old and having to start over while living with their daughter. My job is so sad some days.

And to make it worse. They told me the only reason they were even doing the short sale was so I could get paid because I was so honest with them. WOW!!! Incredible strength in the face of adversity. It’s almost over Alline….I promise.

Location:

  • Kissimmee Poinciana Florida

Liens:

  • 1st mortgage with Chase for $100,000. They agreed to accept $35,000 (35% or what’s owed)

Challenges:

  • The biggest one was getting Chase to understand that these folks were disabled living on Social security and did not have bank accounts and did file tax returns.
  • Keeping the same Buyer on board for 7 months.

And there you have it. Another successful Short Sale approval from Tutas Towne Realty. 

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

 

Welcome to ActiveRain. Good luck and enjoy the journey.

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

Margaret Rome had posted yesterday about not being average and how “averages” in Real Estate are basically meaningless. She also mentioned the old “rule of thumb” of 80/20 and how this is actually more like 93/7. I have to say I agree 100% with her comments. Just to prove her point, I have a real life example, taken from ActiveRain. This blew me away by the way. I have been fortunate enough to have 22 people sign up under me in the last 10 days.

One of them, Joe Sampson, joined 3 days ago, when there were approximately 6,900 hundred members of ActiveRain. Just by completing a full profile and adding a photo he is now number 711 in the system. 711!!!! That’s in the top 11% just by completing a profile. No posts. No comments.

Now I don’t know about you, but I find that incredible. That means that almost 90% of our members have not even done a complete profile page. 90%. So I guess the 93/7 rule is alive and well on ActiveRain.

So to all you new members, don’t be intimidated by the amount of members. It is very easy to rise near the top. Complete your profile, add a photo, start blogging and commenting and join the 7% that will be successful on this network. Good luck and enjoy the journey.

Am I missing something here? Inquiring minds want to know!

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

Since joining ActiveRain back in July, I have learned more about Google rankings, SEO, duplicate content, back links, SERPS, Meta tags, key words and so many other things I just didn't have a clue about before. Thanks Mary McKnight. From what I understand, with my limited knowledge of these things, all of these "thingies" are to help drive traffic to my web site. And by doing this I will get increased exposure and more business, which means, more money in my pocket. But you know, in my case, it just doesn't matter. You see, my web site, http://www.poincianaproperties.com was never intended to be a business generator. Even though I have utilized a lot of these "thingies" and my web site has great ranking with the search engines, it just doesn't matter to me. Why? Because I don't work with Buyers.

Maybe I'm missing something, but it seems to me that the Internet is more of a Buyer generator than a Seller magnet. I have never had a Seller contact me from the Internet wanting me to sell their property. Oops! Actually I guess that is not an accurate statement, I have indeed received and sold about 8-10 Sellers from HomeGain.com over the years. But those are very few and far between and were not from my own web site.

I do however use my web site to direct Buyers to if they want more information on a property and to send my Sellers to, so they can see how their listings are displayed. But the fact of the matter is, that if a Buyer contacts me I refer them to another Realtor and about 95% of my sales are through the MLS. So why do I spend time learning all these things? Well, I'm not sure. I never have any problem getting listings. Sellers seem to search me out to do business with me. I guess I'm very fortunate in that respect. My expired and withdrawn listings program and my farm area advertising seems to work well.

So what am I missing? Is there something I should be doing to attract Sellers to my site? Should I even worry about it? You know what they say, "If it's not broken, don't fix it". Should I leave well enough alone and just continue what I'm doing?

So here's my question. Are you getting Seller business from your web site or is it all Buyer business? Inquiring minds want to know.

Rebates! Rebates! Get ’em while they’re hot!!

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

Ok, so today I have had an awakening. Over the last couple of weeks I have been negotiating, successfully, with a couple of REALTORS® from one of the "Buyer Rebate" companies in my area, and I have to say, I have been impressed. Both REALTORS® have been on the ball and have done an excellent job of communicating and getting the deals pending. This has given me a new found attitude towards "discounters".

The first thing I liked was that all communications have been done via E-mail. To me, this is a big plus. It saves time, all contracts are more legible, as opposed to faxing everything, and no phone tag. Secondly, the offers they presented were complete, in that they had done their homework, with getting the Buyers pre-approved and the initial offers were very close to listing price, not much negotiating required. The thing that really made the offers appealing was the fact, that the Buyers, in both cases, were using the "rebate" to apply towards their closing costs. This meant that they were only asking my Sellers for minimal contributions instead of the normal 6%.

All in all, I have been very impressed. Now if I can just get the "full service" REALTORS® to be as efficient, I will be a happy camper. The first deal I had negotiated with this company closed in 10 days. The one I negotiated yesterday is trying to close in 21 days. So, maybe, their "reduced" commissions have caused them to be more efficient and have put pressure on them to only work with qualified Buyers. Maybe, just maybe, they are on to something here. Maybe some "full service" REALTORS® need to step it up a notch and quit throwing deals up against the wall and hoping they stick.

Maybe, just maybe, I'll offer some discounts and some rebates. Or, maybe NOT!!

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.