As some of you may remember I was a HUGE fan of Range Pricing for many years. When we first opened Tutas Towne Realty 13 years ago Range Pricing was our UVP (Unigue Value Proposition).

I haven’t used Range Pricing since the market changed in late 2006. It made a lot of sense when the market was moving upward. It doesn’t make sense today.

You can see by the comments in this article that many agents didn’t get it and some buyers didn’t like it. But none the less it worked. My properties sold quicker and for more money using this technique. Fortunately for me I worked for the seller and didn’t really care what the agents or buyers thought. I just wanted to sell the property for my seller.

In my market right now properties are selling on average for 102% of the asking price. So it’s really no different than when we used Range Pricing. Back then, 2006 and earlier, my properties were selling for almost 104% of asking price.

In the current market, where banks are pretty much controlling things, the technique being used is pricing low and creating bidding wars. It’s like the old days of Range Pricing. The only difference is there is no top of the “Range” being mentioned. 

Foreclosures and Short Sales are now selling with multiple offers to the highest bidder. What I was doing 15 years ago, that was very controversial then, is now the norm. Funny how that happens. I guess we were just way ahead of our time.

My advice to buyers now is the same as it was then. Make your offer based on the value of the property NOT based on the asking price. The asking price doesn’t mean squat. It could be too low or it could be way high. Have your agent do an analysis on the property and then submit an offer that has a chance of getting accepted.

Buyers who base their offers on asking price instead of the value of the property will end up without a property to buy. This is true in ANY market.

By the way here’s a link to a market analysis I did for one of our buyers. He was well informed and his offer was accepted. What say you?

Have you ever thought about purchasing a holiday home in Central Florida? Florida may be known mostly for it’s beaches but don’t ever forget we have so much more to offer. Hundreds of lakes with some of the best bass fishing in the World. And of course Disney World, Sea World, Wet N Wild and Universal Studios.

Here’s a little peak at my world.

Hi Folks. As we all know, nothing can derail a real estate transaction faster than a home inspection that uncovers “serious inspection issues“.

Recently I had a home inspection done on one of my pending listings. It was an older property and I was a little bit nervous and hoping there wasn’t going to be any major issues to deal with.

Anyway, shortly after the inspection was completed I get the e-mail from the selling agent to let me know we have “serious inspection issues.” She also sent me a copy of the inspection report and the WDO (wood destroying organisms) report. Darn it!!! We have termites!,  wood rot and major AC issues.

Well, being the good little Broker that I am, I pick up the phone and call my “peeps”, Wendal my HVAC guy, Dan the Termite Man and Khan my handyman and wood rot specialist. They all return my call within 5-10 minutes and stop what they are doing to go by the house and check it out. Within one hour, I have writen estimates from all three and time set aside on their schedules to get the repairs taken care of.

OK, now I’m prepared to call my Sellers. So I give them a call, explain the situation, go over the estimates and within 10 minutes I have authorization to move forward with the repairs.

Smartly, I had spent time during the listing presentation discussing inspections and repair issues and my Sellers were prepared. They understood that these were serious issues and would not just go away. So, they agreed to “let’s solve the problem and close the transaction.“

Now, a little over an hour after receiving the inspection report and e-mail from the selling agent, I give her a call. Folks, for some reason she seemed to be surprised that I called back so quickly, not to moan and groan about a problem, but to let her know the problem had been solved, repairs had been approved and scheduled and the signed repair addendum was on the way over from the Sellers. I think this REALTOR(R) will be happy to show and sell my listings in the future.

What could have been a deal breaker was not even a bump in the road. It was just a few calls to the right “peeps” and a well informed Seller. We were back on track.

Folks, it’s all about educating your customers/clients and having people that you have worked with for years who are willing to drop everything and help you out when you need them.

So, have you built and nurtured your business relationships(“peeps”)? Are you in a position to solve problems this quickly? Are your Customers/clients educated and well aware of issues that my arise during the contract period? I hope so. There’s a lot more involved with being a listing Broker…… than marketing.

Broker Bryant’s Tips

1. Educate your Sellers at time of listing
2. Get estimates for repairs so the seller can make an informed decision. It’s rarely as bad as they will imagine.
3. Have “peeps” that you can depend on. Make sure they get paid quickly. 
4. Repairs issues will not just go away. The seller will pay one way or the other. Best to just do them and close the deal.

That’s it. What say you?

Real Estate Market Report for Kissimmee Poinciana Florida for 2009

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

OK so that chart was fun. I wanted to give a picture of the market in Kissimmee-Poinciana Florida from 2007 to the end of 2009. Check out the depreciation. Property values are down 67% during this 36 month period.

But the good news is values only fell 7% for 2009 and it looks like property values have not only started to level off but may be slowly increasing. 

Here’s another little goody for you. In 2007 there were only 420 sales. 2008 this number increased to 627. In 2009 Poinciana Florida broke an all time record with the most resale property sales in their HISTORY with 1,596!!! That’s awesome!!

Of those 1,596 sales 1,303 of them were either a Foreclosure (1,083) or Short Sale (220). That means that 82% of the property sales in Poinciana Florida for 2009 were distressed properties.

Currently there are 507 properties on the market in the neighborhoods of Poinciana. 102 are foreclosures. 291 are Short sales. 114 are regular listings.

Inventory is real low. It is getting very difficult to find a property in Kissimmee-Poinciana Florida.

Folks if you want to buy in Poinciana now is the time. Do not sit on the side lines any longer or you will be out of luck. If you find a property you like be prepared to make an offer of asking price or more.

If you need to sell…well chances are you will need to do a Short sale. If that’s the case…give me a call. If you are waiting for your homes value to go back to 2006 values…..it ain’t going to happen for many, many years, if EVER, so just get that thought out of your head.

OK that’s it for me. Any questions?

Here’s a secret about expired listings. Expired listings are  almost ALWAYS over priced. That’s why they are expired.

E$pired listings are without a doubt my favorite type of lead. These Sellers have already decided to sell and they’ve already decided to use a broker. 

The only hurdle left is to get the price right. That being the case it’s important to establish quickly if this is possible or not.

A CMA (Comparable Market Analysis) for a property that has expired should be short, sweet and to the point. No need to go overboard. A good technique is to arrive at a “range” of where you know the property will sell.

The idea is to make sure the seller is willing and able to make the proper price adjustment BEFORE you spend a ton of time arriving at a more precise price.

Why? Well…. the property was overpriced. This means either the seller was unrealistic about price or they were given bad advice by an inexperienced agent. The first seller will be more difficult than the second.

An example would be an expired listing that was priced at $500,000 that’s worth $325,000. All you really need to know is that the property should sell in the $300,000 to $350,000 range.

If you give the seller this price range you will know almost immediately, by their reaction, if you have a chance of getting the property priced right or if you just need to walk. If  you feel the seller is receptive to pricing right then get serious and do a full blown analysis.

Good listers can establish this stuff during a phone call. No need to set an appointment unless we know for a fact we can get the price right. I know my time is valuable. Is yours?

Do you need a new Broker?

Want to find out more? www.TTRealtyNet.com

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

We now have 1,300+ members of www.ShortSaleSuperStars.com  who are ready to help you master Short Sales. And if that’s not enough…….

Need Training?

If you need short sale training to feel comfortable pulling off the deal, you’re not alone. The number of foreclosures happening across the United States is unprecedented, and it’s not often that short sales are mentioned outside of this kind of economic environment.

It’s time for you to get the expertise you need, because short sales are becoming extremely common. You don’t want to be caught feeling unsure when a client asks for one.

That’s why we offer you three different training solutions, each of them custom-made for agents just like you. These training sessions take you from complete confusion to calm confidence in no time flat – and you’ll be able to turn that new knowledge into perfect closures immediately. 

This five-part Short Sale Agent Training webinar with short sale professionals Bryant and Wendy takes you through 8 full hours of short sale training, walking you through each step of a short sale so you know exactly what to expect and how to deal with problems that may arise. Click the button above to order $97

Bryant and Wendy interview a short sale negotiator from one of the major lenders to get you the insider secrets that make your short sale a huge success. If you want to come out ahead in a negotiation, ask the negotiator – and we did just that, so we could give you that insider info. $27

First short sale? Use this handy Short Sale Listing Package, and you won’t leave anything out next time. Everything from the short sale submission letter to a listing checklist, as well as anything else you‘ll need, all in one tidy package so you don’t have to stress. Just check it off, and close the deal. $27

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

Copyright © 2010 REGrow, LLC | All Rights Reserved

…..and then complain about it! Today I want to talk briefly about co-brokes and the “ole’ 50/50 rule”. In my area it is quite common for short sale listings to have verbiage in the MLS remarks stating that what ever commission is received will be split 50/50 with the selling agent. Then of course they offer a ridiculously high co-broke so the uneducated Buyers agent believes he will get that x% co-broke when most of us know the short sale lender will rarely allow more than y%.

I don’t handle my listings that way. I offer z% percent as a co-broke and I guarantee it. No matter how much the lender allows me to get paid I honor the co-broker offer. I do this because I completely disagree with changing co-brokes after the Buyers agent has already shown and negotiated a deal on my listing. In my opinion it’s playing dirty pool.

BUT….I’m also not an idiot. I offer a co-broke that is in line with my market conditions but one that still leaves me a little bit of room for play. This means that if the lender allows y% I end up making more money than the selling agent. If the lender reduces the commission I make less than the selling agent. It all works out in the end and I feel it’s a fair way of doing business. There are no surprises for the selling agent. They get what’s offered in the MLS with no exceptions.

Today I had a selling agent upset at me because they saw I was making more than them on the HUD statement. He wanted to know why? I explained my company policy to him but he just didn’t get it and started going off about the 50/50 rule. Finally I just had to tell him that what I get paid is really none of his business. He hung up on me.

So I sent him this email:

Dear agent,

I want to clarify the co-broke on my short sale listings. It is always z% Even if the bank comes back and reduces the commission to h% or j% I still l pay z% to the selling agent. Your commission is guaranteed.

In fact I am the only broker that I know of in this area that does not reduce the co-broke when the lender reduces the commission on a short sale. It was z% when you showed the property and it’s still z%.

My commission agreement is between me and my seller. I’m sure if I were getting less than you there would be no issue. On this particular short sale the lender allowed me to get y% so I made out better. That is not always the case.

There is no such thing as 50/50 rule. That is a figment of your imagination.

Thank you for your hard work with getting this transaction closed. I hope we can do more in the future. End of email.

Is this really that difficult to understand? What say you?

Do you need a new Broker?

Want to find out more? www.TTRealtyNet.com

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

No problem. We’re here to give you everything you need to become a Short Sale Superstar.

Foreclosures are rampant across the U.S. More and more banks and homeowners are turning to short sales as a mutually beneficial solution. The problem? Short sales seem to be what everyone needs – but you never had to do many short sales before.

That’s where we come in. We’ve been working in short sales for years, even before the economy tanked, and we know the strategies that work best to make the banks, the lenders, and most of all your clients come out on top.

Share our knowledge and make sure you have all the tools you need to become an expert in short sales – so you can reap all the rewards of getting your clients just what they need.

What’s standing between you and Short Sale Superstardom? Nothing but the click of a button.

Join our Short Sale Superstars network to get the benefit of a worldwide community of short sale experts, or get in on our 8-hour ultimate seminar in Short Sale Agent Training. From know-nothing to seasoned expert in just 8 hours – there’s no faster route to expertise in short sales.

Get started right now, and say goodbye to that feeling of uncertainty when someone mentions a short sale.

Say hello to the confident feeling of a great close and a happy client.

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

Copyright © 2010 REGrow, LLC | All Rights Reserved

I really don’t have anything to say after watching that video except for OUCH!!! Here are a few links to some stuff you may like.

Have you submitted a Short Sale through the Equator system yet?

Bank of America brought up on charges

Twitter? Facebook? Google Buzz?

Speed painting is very cool

Short Sales Suck and I Ain’t Doin’ Them!!

“He who has overcome his fears will truly be free.” Aristotle

Does this sound familiar? You’ve never had to deal with a short sale in your life – until about a year ago, when foreclosures became so common it was rare that you had a seller without one. You’re not even sure you have a real grasp on what a short sale is, much less how to go through the process. And no one seems to be able to tell you how to do it quickly, with no stress.

Well, except us.

Short sales have become the norm. They’re often treacherous, and they can be extremely painful for buyers, sellers, and agents alike.

But they don’t have to be. We’ve spent years figuring out how to make short sales less painful all around. You need to know how to handle a short sale, and we’re more than happy to share everything we’ve learned the hard way – so that you can learn the easy way.

This training series walks you through an entire short sale, from the very moment you realize you need one to the final signature on the deal. We’ve included every single trick, technique, and time-saver in our book to make short sales easy on you and on your seller.

You’ll have all the time in the world to learn at your leisure, too, with audio files, Q&A sessions, worksheets, and sample documents. Learn how you want, when you want, the way you want.

Ready to get rid of short sale stress and get yourself into short sale superstardom?

What Do You Get?

· Two experts in the short sale industry walk you through an entire short sale from start to finish

· 8 hours of easy-to-follow instructions along with insider tips and secrets for an extra edge

· All the forms, approval letters, and sample documents you need for your next short sale

· mP3 audio files of all seminars so you can listen at your leisure or refresh your knowledge later

· Q&A for as long as you need to get all your questions answered

We’re here to help you. We’ve been dealing with short sales for several years, and we know it can be rough on homeowners and agents alike. We want to make sure this process is as easy for you as possible, and that starts with getting you the education and short sale training you need to make the right deal.

The best part? It’s only $97. You’ll get to listen in as two short sale industry experts walk you through the process of making a short sale happen, and then get the extra support you need, when you need it, by having direct access to Wendy and Bryant via www.ShortSaleSuperStars.com (By the way…..the site membership is FREE!)

That’s 8 hours of training for one low price– and a real bargain at less than $10 an hour for the best consulting on short sales available in the market.

What Do We Talk About?

If you’re wondering exactly what we cover in each of the short sale training sessions, here’s a quick layout of what we’ll talk about and the specific strategies you’ll learn:

Session One: Short Sale Basics

· What is a short sale?

· How do short sales affect the seller?

· Why would the lender consider a short sale?

· What’s my role as an agent in a short sale?

Session Two: Taking the Listing

· How to qualify the seller

· Questions to be sure to ask (they’re not what you think)

· Documents you’ll need to make a solid short sale

· Disclosures and addenda you MUST have on the listing contract

Session Three: Placing the Property on the Market

· Proper pricing for a short sale

· Our price reduction strategy

· How to market your property for the best leverage

· How to qualify the right buyer for the sale

· How to negotiate the contract that puts you ahead

Session Four: Preparing the Package

· How to check the HUD1

· How to prepare and submit the package properly

Session Five: Presenting the Short Sale

· Making your case to the lender

· The secrets to following up the right way

· How to negotiate the final payoff

Start to finish, the perfect short sale. You’ll receive audio files of the course so you can listen to them as many times as it takes for you to feel comfortable that you can pull off a short sale as perfect as ours.

We know you can – all it takes is a little training, and the help of a few seasoned experts.

Becoming a short sale superstar is just that easy.

Who Are These Experts?

We’re Wendy Rulnick and Bryant Tutas, and we have 35 years combined experience in real estate and short sales.

Wendy is the award-winning Broker/Owner of Rulnick Realty, and she’s been selling real estate for 20 years. She’s been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine as a short sale
specialist.

Bryant is the Broker/Owner of Tutas Towne Realty, and he’s been in the real estate business for 15 years. Some of his happiest clients are sellers who have been through the short sale process with him and are grateful for how painless he made it for them.

We know firsthand just how rough the short sale process can be on sellers, and we’ve been working for years to fine-tune a process that’s easier on them – and on us.

Now we’re making it easier on you. We’re just that kind of people.

What If I Don’t Like It?

Then you get your money back. It’s just that simple. We know we have the knowledge that helps you become a short sale superstar, but if you don’t feel the same for any reason, then we’re happy to refund your money. We want everyone who takes this course to feel they got their money’s worth.

After we refund your money, we’ll ask you how we can improve for others. We’re that devoted to making sure this is the best training course on short sales out there.

Ready to become a short sale superstar?

SHORT SALE AGENT TRAINING

ONLY $97

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

Copyright © 2010 REGrow, LLC | All Rights Reserved