Dancing down the home stretch!!!

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

Yep.....it's me!!!

Ok, folks here we are, the 4th quarter, crunch time. My favorite time of year. Thanksgiving, Christmas and New Year’s Eve. The weather is changing. We even had a cold front in Florida today. The temperature dropped all the way down to 87. Burrrrrr! It was freezing! Ok, maybe not.

Anyway, I hear, from different sources, that this is a slow period for Real Estate. People are gearing up for the Holidays and let’s face it, who wants to move between Thanksgiving and Christmas? Well, if you have been reading my Blog, then you probably know by now, that I don’t subscribe to the status quo. I just don’t like it. To me the 4th quarter is a very important part of my business  year. It’s time for me to get busy and finish the year with a big bang. I have a quota to make and I’m not there yet.

Here’s a short list of some things that may help you in finishing strong for the year. Also, you may pick up some listings, so you can have a good beginning for next year.  

  • Adjust your attitude. Expect to finish strong and you will.
  • Reduce the price on your listings. Let the Sellers know they need to get under contract before the holidays.
  • Increase your marketing.
  • Be available. A lot of Realtors will be taking time off.
  • Stay positive. Don’t read negative news.
  • Get out of the office and into your market area.
  • Remind Buyers and Sellers that there are tax advantages to closing this year.
  • Concentrate on Buyers and Sellers that need to move, job transfers etc.
  • Offer a year end discount.
  • Stay out of the mall!

These things are very basic, but believe me they will work. December is normally my best month for closings.

So, I don’t know about you, but I think I will polish up my signs, load up on contracts and………….. go get me some of that business!

I think I’m stuck in a Short Sale time warp!!!

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

Florida real estate broker 407-873-2747Hi folks. It seems like only yesterday that we started hearing about short sales, foreclosures and financing issues. That’s why I was a little surprised when I fouind this post that I posted in December of ……..2006!!!!! No wonder I’m tired.

Three blind mice, three blind mice……blah blah blah.

Lately, as anyone knows who has been reading my Blog, I have been dealing a lot with short sales and pre-foreclosure listings. Since I am not an attorney and cannot give legal advice, I always recommend to these Sellers, that they seek competent legal counsel. Most do. In addition to this, I give them my opinion, about what a short sale may do to their credit and the possibility of the amount of the “short” being treated as income, for tax purposes, and/or being attached to them as a personal liability. I do this, so they will understand, that being foreclosed on or negotiating a short sale should be a last resort decision and will have dire financial consequences.

Anyway, on Saturday, I was out and about putting up signs and refilling a few brochure tubes before the Holidays and bumped into one of my Sellers who is in a pre-foreclosure situation. She proceeded to tell me how she and her husband were getting ready to go look at some new construction homes and were hoping to put a contract on one. What? You are in foreclosure and think you can go out and buy a new house? According to my Seller, she thought that since we were trying for a short sale, that their credit would not be affected and that they could go ahead and place another property under contract. She figured since the Lender was going to get most of their money back, they would just forgive them for not making payments in five months and let bygones be bygones. I was dumbfounded to say the least. But, OK then, good luck with that.

Also, last week, I was speaking with one of my other Sellers. He lives out of state but has a flip that flopped in Poinciana. He hasn’t made payments in three months and is also in a short sale situation. He had been pulling equity out of his primary residence for about a year to try and sell the property, he owns down here. Last time I had spoken with him he was telling me that he had already pulled $40,000 and only had about $40,000 left in his house. When we were talking last week he was telling me how tight things are and how expensive it is to send his three children to private schools. Then he proceeded to tell me how he was going to pull the rest of his equity out of his house to pay the children’s tuition next year. He’s not worried because he knows his house will increase in value and he should be getting a new job next year. So let me get this right. You have a house in Florida that has decreased in value and is about to be foreclosed on. You have already spent $40,000 of the equity in your residence to try and hold on to this house. And now you have come up with the brilliant idea of pulling the rest of the equity out of your residence to pay for private schooling. Well, good luck with that one too.

Folks, believe it or not, there’s one more. I have another Seller who is going through a bankruptcy. This should be discharged sometime in March. They too have been out looking at new homes. They told me that builders are desperate right now so they shouldn’t have any problem getting into a property because the builders have “in house” financing. Their thinking is that once they sell their property, after the bankruptcy, they won’t have any debt so the lenders will be happy to loan them money to buy a new house. I truly feel like I am in an episode of the Twilight Zone.

Two Sellers, with serious financial issues, who actually have no clue that this will affect their ability to purchase another home and another digging their hole even deeper, based on future appreciation, even though they are in the process of losing a house for that exact same reason.

Are folks really that blind? Is their reality clouded by denial? Does financial responsibility mean nothing anymore?

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  

Beware of the Bank’s Non-Disclosures!!!!

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

Florida Foreclosures 407-873-2747

Hi folks. Lately I have been selling quite a few REOs (banked owned) property. As you know if you deal in these properties the sellers (banks) always offer them for sell in “As Is” condition. No biggie since most of my Buyers are experienced Investors.

“As Is” in Florida means As Is with right to inspect. This means the Buyer normally has 7-10 days to have the property inspected after a contract has been accepted and signed by all parties. If during this inspection the Buyer finds structural or mechanical issues that they weren’t made aware of during negotiations the Buyer can cancel the contract and get their deposit back.

In Florida, a Seller is obligated by law to disclose to a potential Buyer any material defects that the Buyer cannot readily see that affect the value of the property. Banks, no matter what they think, are NOT exempt from this disclosure.

Recently I have been negotiating for a Buyer to purchase a REO property. The property is only 2 years old and has never been lived in. After several counters the Bank has finally accepted our price BUT they want to close in 2 days (impossible) and they will not let the Buyer inspect the property. Can you say RED FLAG!!!!

Anyway, here is the Email I sent to the listing agent:

Hi XXXXX,   I have just left a message  for the buyer. I’m pretty certain he can close the first week in March but I have asked him for a definitive date. The corporate name on the contract is correct.

We will not purchase the property without an inspection period. So the lender just needs to get over that ridiculous request. That property has been sitting vacant for too long and it is very possible that central heat and air are frozen. Also the lighting in the kitchen is all coming out of the ceiling. The buyer is willing to accept “as is” assuming there are no major structural/mechanical issues uncovered during the inspection period.

The seller’s unwillingness to let us have the property inspected tells me they are aware of an issue and are hiding it. They either want to sell or they don’t. No inspection is a deal killer for almost all buyers. Anyway as soon as I hear back from my buyer I will let you know his response. Thanks for your efforts.
*****************************************************************************

Within minutes I received this:

FYI  This homes has a skylight that leaked (flooded from the skylight in the kitchen. It effected all the walls, floors inside area in kitchen, laundry room, living and dinning room area.  The mold has accumulated & there was a terrible blackening of the molding & area around the skylight & fixtures and it began to smell.  I had Solivita do the entire kitchen, ceiling,walls, floors etc to fix it & do the right job. The electrical outlets, wires etc were all replaced & fixed.

As of right now that home has been put back correctly & no charge to the bank or to the owner.  I worked very hard to get this home redone.  You know how builders can be. Since the home was never occupied nobody was aware of its condition.
******************************************************************************

Folks, that email was sent to the current agent from the previous agent!!!

The lesson here is to NEVER accept a contract where the Seller will not allow an inspection. It is obvious to me that this Seller was fully aware of these issues. As most banks do, they feel they are exempt from laws that were put in place to protect the public.

It would have been very easy for me to persuade the Buyer to go through with this transaction. It’s a brand new house……what could possibly be wrong? Well how about extensive BLACK MOLD!!!

Watch yourself out there…..the Banks may very well be jeopardizing your lively hood. What say you?

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

My job sucks!

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

What a tuff week!!!

Hi folks. Well…..I made it through another week. Here are some funny things that happened this week.

1. One of my Sellers gave me fake pay check stubs that his boss “created” so he could show a lower income to his Lender and qualify for a Short Sale.  

2. We made an offer on a REO, sight unseen, only to find out the pictures in the MLS were of the wrong house.

3. Had a Buyer interested in a $32,000 REO property that was offering a co-broke of 2% MINUS a $250 transaction fee. For anyone math challenged that’s $390.

4. Chase can’t locate one of my Short Sale packages. It has 275 pages!

5. I got all excited about a $550,000 listing only to find out it’s now worth $150,000.

6. Just listed a $90,000 Short sale that has annual taxes of over $7,000! The tax payment will be higher than the mortgage. Think it’ll sell?  

7. Six weeks into my only transaction, that’s not a Short Sale, the Mortgage Broker called to say she just found a student loan and we…………flucker!

8.  The average sales price in my market has dropped from $220,000 to $65,000 in the last 24 months. OK so this one’s not too funny.

Tomorrow, I’m going fishin!!!

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

 

Short Sale Training Webinar….and a BIG announcement!!

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

Short Sale webinarHi folks. OK so it’s Friday again. Do you know what that means? It means…….time for me to sell product again!!! I’m sorry BUT I have to do it. TLW needs new shoes AND…..there are agents out there that really need help with their Short Sales.

I bet there are agents reading this post right now that want to do Short Sales but feel they are too much work. Or feel they won’t get paid for their efforts. Well if that agent is you….don’t fear. Wendy Rulnick and I have designed our Short Sale Basics Webinar series just for you.

Short Sale Basics is a five part Webinar that walks you through a Short Sale Transaction from beginning to end. The best thing is that it’s taught by two Real Estate Brokers that handle Short Sales all day long.

Wendy and I both handle our Short Sales ourselves from beginning to end. No outsourcing.

Short Sale Basics Session 3 is being taught tomorrow at 11am Eastern time. Tomorrow’s session will teach you about:

  1. Pricing the Short Sale
  2. Short Sale Price Reduction Strategy
  3. Marketing the Short Sale
  4. Qualifying the Short Sale Buyer
  5. Negotiating the Short Sale Purchase Contract

I know what you’re are thinking “WOW!! Broker Bryant.. that’s a ton of information.” Well…yes it is. Not sure how Wendy and I are going to cover all of this in 90 minutes but we will. And if you can’t keep up……it’s being recorded!! That’s right…we have all sessions available in MP3 format. You can load them on your iPod and listen on your own time.

YOU DO NOT HAVE TO ATTEND LIVE!!

But if you want to…..the cost for tomorrow’s session is $57.00.

OR…you can purchase the entire course for only…..

 

$197.00


$97 is only good for two more weeks. Beginning August 1st the price is $197.00. That’s right…$197.00 once the course is recorded.

Now here’s the big announcement. I didn’t tell Wendy I was mentioning this today but what the heck. I feel like ShortSaleSuperStarsspilling the beans. Wendy and I are launching www.ShortSaleSuperStars.com on August 1st. This is going to be the one place to go for all things Short Sale. ShortSaleSuperstars.com will be a site for all of us who do Short Sales to help each other and support each other.

You’ll be able to find forms, documents, lender tips, phone numbers, top secret email addys, training materials and much much more. ShortSaleSuperstars.com will be an interactive business network for people that take Short Sales serious. Our goal is help each other become better so as a group we can make a difference.

People need smart agents. They need agents that can help them through these difficult times. So if you want to make a difference and…..you want to get paid for doing so….come join us. The membership fee is only $27 per month FREE!! It will be the best money you have spent in a long time. Short Sales can be very time consuming and aggravating but …..you do NOT have to go it alone.

If you are interested just cllick over to www.ShortSaleSuperStars.com and click on the subscribe button at the top. Become a part of this exciting new venture!!

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

Together We Can Make a Difference

Are you protecting the public or pampering agents?

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

Here’s why I ask. My real estate practices are very aggressive. Without a doubt I have pissed a few agents off over the years. 

Some agents have called my buisness practices unethical, illegal, unprofessional, moronic, deceitful, bait and switch, confrontational, self indulging and blah, blah, blah…..I could go on but you get my point.

By the way, did you know accusing a REALTOR® of using unethical or illegal practices when they aren’t is in itself a violation of our CoE (Code of Ethics)? Don’t believe me? Go check it out. SoP (Standard of Practice) 15-2.

The reality is that I am just looking out for “my peeps”. I’m doing what it takes to get the job done. I’m doing what they have hired me to do. I work for Sellers and Buyers. I do NOT work for other agents.

If agents get pissed off because they don’t agree with what I’m doing then frankly that’s their issue ….not mine. My business practices are and always have been legal and ethical. I wouldn’t handle my business any other way. Would you, yours?

Have you ever held back from taking a listing or working with a buyer because you didn’t want to upset another agent? Even though you knew they were doing a bad job and you could do better. Pampering.

Have you ever divulged information about your customer/client or their deal because the other agent was your friend? Or they worked in the same office? Pampering.

Below are a few of my business practices (old and current) that other agents may believe to be unethical or illegal: (If you want to have some fun go read the posts and the comments on then in).

I will not change the way I handle my business just because it may upset some agents. More than likely most of the agents I have done deals with are no longer in the business anyway.

The failure rate amongst REALTORS® is somewhere between 70% and 90% during their first 2 years in business. I may never do a deal with them again. I will however get referrals from my customer/clients for years to come.

Now folks, having said all of this I do want to work WITH other agents. I whole heartedly believe in helping my peers in their business. I will bend over backwards to assist them if asked. BUT…it will not be at the expense of my customer/clients.

Let’s remember who we work for and who is paying us. That’s where our loyalties need to be.

I’m a protector of the public NOT a pamperer of agents. Which one are you?

***The video is for those few people who didn’t appreciate our last video of me tearing up a counter offer. Maybe this technique will be more appealing to you. As always the video is the property of ROAR! Productions. Get off it.

Available Short Sale 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

The Buyer CMA. Do you use it?

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

Realtor training 407-873-2747

Hi folks. Lenn Harley wrote a post today titled “Looking at Real Estate Teams and Team Specialists”. If you haven’t read it please take a moment to do so. In her article Lenn wrote…

“The assumption is that training for property valuation is for listing agents for CMAs and not for buyers agents.  IMO, one of the most valuable skills any real estate practitioner can have is that of accurate property valuation.”

I have to say I agree with that statement. As most of you know I have been primarily a listing agent for many years. Over the last 18 months or so I have had to revamp my business and now find myself working with more and more Buyers.

I find that one of the advantages I have is that I know how to value property. My market is saturated with foreclosures and Short Sales. Because of this, the listing price means nothing. The listing price is normally quite a bit lower than what the property will eventually sale for.

The purpose of a low listing price is to create a bidding war. I completely understand this strategy and have no problem at all working within the rules of this “game”.

My Buyers are counseled to make offers based on the value of the property not the list price. This is very important for Buyers and their agents to understand when working in this kind of a market.

How many of you have had Buyers that insist on offering below listing price on every property  they look at? How many of you counsel then to do this? Is the extent of your counsel telling Buyers to offer 90% of list price? Be honest. When was the last time you prepared a full blown CMA (Comparable Market Analysis) for a Buyer?

Do you even know how to prepare a market analysis? From some of the offers I see coming in on my listings my opinion is that..no..you don’t. Your Buyers are missing out on properties because they are hung up on the listing price. Your job is to make sure this is not a stumbling block for them. The best way to do that is to make sure you are giving your Buyers a CMA.

This Buyer CMA can be for a specific property or it can be based on the style and type of property they are looking for. Does that make sense?

Here’s a CMA I prepared last week for a Buyer. We ended up getting his offer accepted even though there were about a dozen offers on the property. Check it out. Any questions?

CMA 816 Halifax Dr Kissimmee FL 34758

 

 

Florida Property search

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

 

 

Have a Bertha Chistmas!!!

Posted by admin December - 31 - 1969 - Wednesday 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

Get out of the box………your next commission may be out there!

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

I’ve read a couple of posts lately on verbal offers. Instead of rejecting them why not try this? Ok, a Realtor calls me up with a verbal offer from his Buyer on one of my listings. It goes something like this:

“Hi Broker Bryant I have an offer for your listing. My Buyer is only in town for a few hours so is making a verbal offer so we don’t waste our time.”

“Oh, I’m sorry my Seller will not negotiate verbally. It’s in my listing agreement, all offers to purchase must be in writing and presented with a prequalification letter prior to negotiating. So why don’t you swing by your office write up the offer and send it over to me. If your Buyer is serious, then maybe we can get a deal negotiated because my Sellers do want to sell.”

“My Buyer is serious but we really don’t have time to go through all that.”

This is where I jump out of my box.

Ok, now my goal, is to get offers on my listings, so my Sellers can have the opportunity to negotiate and hopefully be able to sell their house. After all, it is their house and it is not my place to blow a Buyer out of the water just because his Realtor is incompetent. So, telling this Realtor to forget it, is not an option. If the Buyer is truly interested, I could be harming my Sellers, by not at least hearing what the offer is. So this is what you can do. Pull out a blank purchase offer. Then ask the Realtor the following questions.

  • Ok, what's the Buyers name?
  • How much does he want to offer?
  • How much deposit is he offering?
  • How much is he putting down?
  • When can he close?

Now that’s 5 simple questions (in a couple of minutes) and while I’m asking them I have written the answers in the appropriate blanks on the purchase contract. Next I say:

“Listen, I have already completed a purchase offer for your buyer and I am faxing it over to your office. Now if your Buyer is truly serious then swing by, have him sign the offer and fax it back over to me, with the pre-qualification letter and I will present it to my Seller. Is that easy enough for you?”

I know, I know, Broker Bryant why are you doing this Realtor’s job? Why are you wasting your time with this nonsense?

To answer the first question, my Sellers have hired me to sell their property and they are paying me handsomely for doing this. So this may not be my responsibility but it is definitely my job.

To answer the second question, why not? I never discount any offers with at least trying to negotiate. You just never know. I have had many “low ball” offers turn into pending contracts. My job is to present the offer to my Sellers and let them decide how to proceed. Also, I repeat my earlier statement, “I will not hold a Buyer responsible for his Realtor’s incompetence.” The Realtor is not the one buying the house. I am sure Realtors lose many deals by not understanding this.

So next time before you blow off the other Realtor and possibly lose a good Buyer, pull out that contract and fill in the blanks. Who knows?….Get out of the box…….your next commission may be out there!

Come one, come all to the greatest show on earth!

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

Ok, I guess I am on a roll this week when it comes to dealing with clueless Realtors. Not that this is anything new, it just seems that I have had a whole bunch of them this week. So, I’ve been thinking. Why is it that so many Realtors are clueless? They’ve all been through very intense (joke) Florida licensing requirements and passed a very difficult (more joking) 100 question multiple choice test. They’ve also jumped through all the bureaucracy at the Board of Realtors (wrote a check) and have had numerous training sessions with their Broker on how to complete purchase contracts, sales techniques, customer service and so forth (now I’m cracking myself up!).

So what is it that’s wrong? What’s missing? Could it be that the lure of big bucks and large commission splits is blinding Realtors and keeping them from seeing the importance of proper training? Should they be asking about training instead of money? I mean let’s face it, if you are not properly trained there will be no commissions to split. This business has always been difficult and in this changing market it is even more so. It would make much more sense to take 50% of something than 100% of nothing. But hey, the almighty dollar and the dream of getting it is a very alluring carrot. Dangle it and they will come.

I’m sure all of you have received solicitations from the new kid in town promising all the business you can handle for only a $295.00 transaction fee. Come one, come all get rich today!! It’s like a side show barker.

Or maybe it’s the popular Real Estate business model where the entire plan is to rent desk space. Got a license? Come on in. You can use our name for the low, low fee of $1,200 per month. We are world wide and you can’t help but to succeed. Step right up and sign on the dotted line and bring your friends. The more the merrier. We have more Realtors than anybody. Don’t pay now, pay later! And pay and pay and pay and pay and pay.

They forget to tell you that 6 months later you will be broke, beaten and spit out. But that’s OK they have a line of people waiting to rent your desk.

Now I am a firm believer in Real Estate companies having the freedom to work whatever business plan they choose. Freedom of choice is what makes this country the greatest country on the planet. However, in my opinion, these high split, low training companies are not for the novice Realtor. For a new Realtor training is everything. No training, no money. It’s as simple as that.

My biggest pet peeve is this: The consumer when hiring a Realtor should be able to assume, at a minimum, that their Realtor, is knowledgeable, professional, ethical, competent and able to guide them on what may be the single largest financial transaction of their lives. To be anything less than this, should be a crime.

What can we do about it? I just don’t know. It’s going to be very hard to tighten up Sate laws. People have the right to pursue a career. It’s hard to regulate incompetence. How about our Realtor associations? Could they require training? Could new Realtors be required to attend several weeks worth of contract law and ethics classes prior to becoming a Realtor? I think so. I truly think this would help. It would certainly be better than the current system of just writing a check. We are Realtors. We do not need laws to change to be able to step up to the plate and train our members. Let’s make being a Realtor really mean something to the consumer. The consumer should not have to assume anything. They should be able to know for a fact that their Realtor has at least the minimum requirements to perform their duties.

So step right up folks. Let’s get it right. Let’s turn our side show into the main attraction! Come one, come all to the greatest show on earth!

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.