Realtors worry the changes will lead to a dilution of the Realtor brand

Now that the dust has settled after the National Association of Realtors board of directors approved changes to the operating agreement for its official website, realtor.com, many Realtors worry the changes will lead to a dilution of the Realtor brand and the standards of professionalism, including accuracy, that go along with it.

As of Monday morning, an overwhelming 50 of 62 respondents to an informal poll on the “Raise the Bar” Facebook group page said they felt “betrayed by NAR. Like a knife in the back”

due to the trade group’s decision to allow realtor.com operator Move Inc. to obtain listings from entities that are not Realtor-owned and controlled, and from brokers who are not Realtors, including rentals and new-home listings.

Inman News also received more than 100 emails and comments on inman.com, Facebook and Twitter from readers sharing their views of the changes. While some hailed the move for potentially boosting realtor.com’s ability to compete with rivals Zillow and Trulia, the overwhelming majority blasted the board’s decision.

           Screen shot from “Raise the Bar” Facebook page

“I’m disgusted with our ‘leadership.’ Real estate transactions involve the largest financial transaction most individuals will make in their lifetimes. Realtors uphold ethical standards and provide professional (vs. amateur) assistance. We’ve enjoyed some privileges as members. Now, our BIGGEST privilege has been stripped from us,” commented Evergreen, Colo., Realtor Jeri Groves.

“With no distinction between anyone with an ‘armchair quarterback’ opinion and professional Realtors, we’ve just denigrated our brand — one that already has a reputation little better than used car salespeople in the eyes of the public. This is SHAMEFUL! Move.com wins, and every Realtor loses. The entire NAR leadership should be recalled. Let’s start a petition!!!!”

Keller Williams agent Matty Green commented, “This is crazy! We pay dues to NAR for the privileges of membership, including having our listings on realtor.com. Realtor.com in turn charges us for the privilege to have our name and phone number (instead of the broker’s) show up on the listing in order to have a ‘competitive edge’ over nonpaying agents.
“Now there is nothing to stop realtor.com from charging us more so that we can compete with non-Realtors advertising on the same site. Maybe NAR should have negotiated free preferred listing status on realtor.com for all NAR members in this deal. My guess is realtor.com makes too much money off of us and they wouldn’t have agreed to it. That’s why this happened behind closed doors and without our input.”

Marty Sorrentino of Re/Max Innovations in Wantagh, N.Y., said he couldn’t grasp the concept of having non-Realtors post their listings on realtor.com. “Realtors have to adhere to strict guidelines and policies (including a strict code of conduct and mandatory ethics courses every four years) all designed to protect the public. Now realtor.com is going to allow builders and other non-Realtor persons to have access to ‘our’ site,” he said.

Marvin Shelley of Fayetteville, Ark.-based The Shelley Group commented, “If I quit paying NAR, can I then just post my listings on realtor.com for free? Is that what I read?”

Inman News reader Kathy Evans said consumers would suffer from the move rather than benefit. “Yes, they will have more listings at their fingertips, but they will not be serviced by Realtors. NAR directors have let us down,” she said.

Another reader echoed many in worrying about one of realtor.com’s most distinguishing features and the focus of its recent marketing campaign: the accuracy of its listing information.

“This is a sad day for Realtors. We need to remove ALL our listings from realtor.com and take back our data. Realtor.com, while no longer the most browsed source … was definitely the best rated and most valued source of listings because it represented a higher degree of reliability and integrity of the data,” he said.

“Now, NAR is allowing others to input data that we can’t verify. So, now we have a product that our name is attached to, yet we have no control over it. I’m sad to have my name associated with realtor.com.”

Others expressed concern that the move would make realtor.com no better than the third-party sites it rivals.

“The changes on realtor.com will create great competition only if listings are updated frequently. Listings on Trulia and Zillow will show active after been sold a year ago. So daily updates of listings on the site will make a big difference,” said Tennyson Jusu of Solid Source Realty.

Dale Pearson at Carolyn Pearson Real Estate in Overland Park, Kan., said NAR’s leaders “just don’t get it.”

“In today’s world it’s not about who is No. 1 online. This is not a zero-sum game. Our buyers and sellers are smart. Like you and me, they search multiple sites for information. To think they can gain a monopoly (to charge us more fees) — a site with info that nobody else has — is ridiculous and old school,” he said.

“Now, we’ve become ‘the same’ with the competition. This is actually to their benefit — not NAR’s. Sameness is boring. We’re in a reactive mode, not proactive, and have become a follower, not a leader.”

Commenting on Inman News’ Facebook page, Kathy Frieze, a real estate agent with Re/Max Integrity in Corvallis, Ore., said, “Realtor.com is not succeeding because the site is not consumer-friendly and its management is living in the age of the dinosaurs. Allowing rentals and non-MLS listings will not change their underlying problems. NAR needs to break loose from Move and align themselves with (a) more progressive model.”

Deborah Madey, a broker at Peninsula Realty Group, said she didn’t see how the vote benefits Realtors. “How will this impact members and their businesses? I’m not convinced that there is no benefit. I am curious to understand it. I am extremely bothered that the impact to members is not a point of discussion. If (realtor.com) is king or not is irrelevant unless it brings value to members,” she said.

Madey said NAR and realtor.com have not communicated the value of the data integrity and rules Realtors live by when updating listings. “Our data is more accurate because of self-policing forces. It’s updated more frequently. Unavailable properties and bad data must be removed. That benefit may go by the wayside,” she said.

NAR should use realtor.com to communicate the value of Realtors, not just to display listings from multiple sources, Madey said. “Why does the public think there is no difference between a Realtor and a licensee. I think that (realtor.com) should be about (Realtor) listings, about what NAR does for the public (i.e., all the lobbying that is done to protect property rights, etc.). I think that (realtor.com) should be a public-facing site that helps consumers learn about everything real estate from Realtors and NAR,” she said. “I think it’s time that our branding move up on the priority list. We don’t do it very well, and never have. And, we’re still dismissing it,” she added.

Sam DeBord, managing broker and team leader at Coldwell Banker Danforth, agreed with Madey but said the call for better branding had to be mixed with the realities of online traffic trends.

“Realtor.com is a marketplace. Realtor is a professional brand. We need to draw maximum consumer traffic to realtor.com where we can push the brand. If that means getting ‘all listings’ (which consumers demand) and then explaining the difference, so be it. Branding harder in a shrinking market is not good strategy,” he said.

Beth Braznell, a NAR director who attended last week’s special meeting, said the board’s vote was not about protecting the Realtor brand. “There is no Realtor brand in the consumer’s mind. The decision … was exclusively about competing with Zillow from the standpoint of keeping Zillow from doing to us what Expedia did to travel agents and to protect the investment NAR has made in (realtor.com),” she said.

In response to concerns from some Realtors, NAR spokeswoman Stephanie Singer said the revised agreement will reinforce the Realtor brand. “Realtors want realtor.com to have the resources and flexibility it needs to give consumers what they want while ensuring that today’s buyers and sellers can continue to rely on Realtors for the most accurate, credible market information,” she said.

Changes to realtor.com will include features that emphasize to consumers the value Realtors bring to consumers, both when buying and selling a home and in protecting the American dream of homeownership.”

While not part of the approved amendments, NAR and Move said last week realtor.com will reinforce the value of using a Realtor when buying, selling or investing in real estate, and will give consumers tools to differentiate between Realtors and non-Realtors.

Move Chief Strategy Officer Errol Samuelson said realtor.com would “call out” when a listing belongs to a Realtor and highlight any certifications or designations that Realtor has. In addition, the site will have targeted messages on search result pages and listing pages highlighting Realtors’ advocacy work on behalf of local homeowners, he said.

Move declined to provide further details about the plans being considered to differentiate Realtors until they are formally launched “for competitive reasons.” Move’s Form 8-K detailing changes to the operating agreement for investors does not mention specific plans to boost the Realtor brand.

In a Q-and-A article about the realtor.com changes, NAR said the Realtor brand will continue to be pre-eminent on the site, not just in the domain name but in every aspect of the site, its mobile apps and its public relations.

“When the changes are implemented, the site will continue to clearly distinguish Realtor-represented listings and will use language that more prominently emphasizes the difference between Realtors and non-Realtors,” said Bob Goldberg, president and CEO of NAR subsidiary Realtors Information Network Inc., or RIN.

NAR pointed out that 1999 NAR President Sharon Millett, who had witnessed realtor.com’s inception, had been at the meeting and said now was the time to compete “head-to-head” and give consumers the accurate, comprehensive site they want.

“There was a time when restricting the site to only Realtor listings was appropriate,” she said, “but that time has passed.” The article noted member dues do not go to the operation of realtor.com, and NAR does not collect revenue when members purchase realtor.com products and services. The article also said many directors had expressed concern about non-Realtors getting leads from realtor.com, and said members of the RIN board would be “addressing the issue.” 

Move CEO Steve Berkowitz sought to allay Realtors’ concerns about maintaining realtor.com’s accuracy. “Comprehensiveness does not come at the cost of accuracy. What our goal in this process and in everything we’re trying to do is to allow the consumer to not only see a comprehensive set of data but also identify the difference between the data that has been delivered with authority (by) Realtors,” he told Inman News.

“We don’t take the ‘what’s for sale’ listings from just anybody,” he added.

Listing information will be sourced from “authoritative sources,” Berkowitz said. For-sale homes data will continue to be sourced primarily from brokers and multiple listing services, Realtor-affiliated or not, he said, and new-homes data will come from BDX, a consortium of top homebuilders that also powers New Home Source, of which Move owns 51 percent. Consumers will not be allowed to upload listings.

“The focus on accuracy is absolutely core to everything that we do. (Sourcing from MLSs is) almost a guarantee of accuracy because listings are required by their MLSs to be accurate,” Berkowitz said.

“We believe the MLSs are the best source of information about homes for sale and that’s why we’ve spent 14 years building those relationships. The MLSs are very important to the process,” he added.

He said the changes would actually bring more accuracy to the site by identifying the source of a listing and designating when it has been provided by a Realtor.

“The definition of data accuracy is not only that the data is accurate but that the consumer knows where the data comes from,” Berkowitz said.

Identifying Realtor-represented listings as such amid those from other sources will actually strengthen the Realtor brand, he said.

“It’s best to have a home listed with a Realtor and buy a home with a Realtor but not every home is listed with a Realtor and it’s important to know that to have your Realtor ask the questions they need to ask,” he said.

Realtor.com will inform consumers that the best professional to work with is a Realtor, Berkowitz said. This will include outlining the advantages of working with a Realtor, the Realtor code of ethics, and what Realtors do to support homeownership.

“Our job as a business is to build the brand and to build the consumers’ relationship with that brand, and that’s a foundation built on trust, which is built around education, awareness and accuracy,” he said.

“If we walk out of this with one thing we’re going to accomplish, it’s we’ve built the trust in the Realtor brand,” he added.

Move said it was still evaluating its content sources “within the realtor.com accuracy proposition” and would include criteria regarding how often a source updates its content. The site will continue to show the last time a listing was updated.

While 90 percent of realtor.com’s listings are currently updated every 15 minutes, Berkowitz said he was unsure whether Move would require sources of new homes and rental listings to update that often.

“I know we have the single most accurate source of new-homes data. We already have the spec homes where builders built it and put it in the MLS — this (change) is about new-home communities where the inventory is about how many lots are available,” he said.

Currently, Move is getting its rental information from MLSs and apartment builders directly, but is evaluating how to bring in additional content.

“We’re not getting into the ‘free for all’ marketplace (for rentals),” he said. “As we look at it and continue to expand it, we have lots and lots of authoritative sources out there for rentals,” he added.

While accuracy matters to both those looking for rentals and for-sale homes, the stakes are higher with for-sale homes because of the price tag involved, Berkowitz said.

Andrea V. Brambila

Associate Editor

Video- Consider these tips on presentation

Before you recored your next video, consider these tips on presentation. Your videos will be viewed by thousands, and you want to be the individual they hire. People want to see your passion, expertise and authenticity. 

1: Organize and be very clear in conveying what you would like to say. Jot down the purpose of your video on an index card so that you will get the clarity needed. Decide on the main points and present your audience with a road map. Whatever points you may have, just tell them. People usually like numbers and it also gives a reference point which will help to keep both of you on same page. You have to ask yourself, “How shall I make it easier so that viewer can understand?” If you are organized and stay focused it becomes easier for them to understand what you say. 

2: Keep the sentences short. When you are writing the script, you can check whether a sentence is said in one go or not. If you take a full deep breath prior to the beginning of the next sentence, you voice becomes richer and clear. By taking a deep breath intentionally, you can give the viewers a short time to understand what you have said. There are filler words like ah ans um which many people use these words unintentionally to join the entire speech together. You should think of each sentence as a complete thought which will lessen these irritating words, people will stay focused on the message you want to convey. 

3: While saying your name, ensure that the pitch is low towards the end. If it goes up it will sound as if it is a question and people may question you. Observe famous TV personalities while they utter their name, you can feel that it goes down towards the end. 

4: Eliminate gestures which are distracting. Repetitive gestures that are done unintentionally distract attention from the message you want to convey. If you use facial expressions, it will increase the liveliness. If your facial expressions and gestures align with the words you speak, it will add to the impact and helps to build trust. Establish a soft eye contact with the camera.

5: Use descriptive words when giving a testimonial or telling a short story. Think about how to make it more alive and visual. For example one story might start like, “A woman entered into the clinic to seek an appointment…” Now consider “A clearly overworked and frustrated woman stepped into my clinic with a determination to get relief…” Remove words which cause boredom and include those words which add to the interest of the listener.

6: You should wear bright colors. Cameras usually find it difficult to respond to colors like white, black or red. You can wear pastels or blue. Have you received compliments related to a color you wore? Think about wearing that color. Color certainly makes a difference. You should avoid pinstripe, checkered and loud patterns. The background should be in accordance with the message.

7: Relax your body, loosen up your muscles. Think about how you feel passionate about your service or product. What purpose does it serve? To whom do you want to offer your services and who is the right client? Talk to them with conviction. Be enthusiastic from your heart and it will reach the person who is watching the video.

Please comment and let me know how you’ve used video successfully in your business, and if you want to get started with video, feel free to contact me at (561) 444-8860 ChristineMatus.com

Using Social Media For Lead Generation [INFOGRAPHIC]

When it comes to lead generation, social media can be a very effective tool for businesses.

According to this infographic, the current crop of top social networks – from Facebook to Twitter, LinkedIn, Google+ and Pinterest – can help a business gather leads and attract more customers when utilized right.

It appears that Facebook, the world’s largest social network, is still king of the social media world when it comes to lead generation.

According to the infographic by Wishpond, 77 percent of business-to-consumer marketers say that they have acquired a customer through Facebook. Furthermore, at 26 percent, Facebook is the leading source of referred social media traffic to websites. Next to Facebook is Twitter with a relatively dismal 3.6 percent.

Furthermore, the number of marketers who say Facebook is “critical” or “important” has increased 83 percent in just 2 years. More and more marketers are realizing the benefit and power of social media as a lead generation and promotion tool.

As for other sites, the infographic says that 34 percent of marketers have generated leads using Twitter and 20 percent have closed deals using the microblogging site. Not bad, if one asks us here at Social Barrel as any addition to lead generation is good for a business provided the effort is worth it.



Nonetheless, the infographic says to not underestimate LinkedIn. According to Wishpond, LinkedIn is 277 percent more effective at generating leads than Facebook or Twitter.

When it comes to marketers dealing with business-to-business transactions, 77 percent say that they have acquired a customer through the business-centric social network.

Compare B2B customer acquisition rates for company blogs (60 percent), Facebook (43 percent), and Twitter (40 percent) and one understands why LinkedIn is a favorite among B2B marketers. Nonetheless, there are more B2B marketers that do not use LinkedIn for their efforts as the infographic notes that only 47 percent of B2B marketers are using LinkedIn. Compare this to 90 percent using Facebook.

Just how effective is social media then for generating leads. The infographic notes that 59 percent marketers say that SEO has the biggest impact on lead generation goals while 21 percent say it is social media and 20 percent say it is PPC.

Furthermore, 84 percent of B2B companies are using some form of social media marketing and best-in-class companies generate over 3 times their share of all leads from social media compared to average performing companies.

As for lead conversion, the infographic notes that social media produces almost double the marketing leads of trade shows, telemarketing, direct mail or PPC and that social media lead coinversiton rates are 13 percent higher than average lead conversion rates.

To drive the point, Wishpond says that 77 percent of buyers they have surveyed say they are more likely to buy from a company whose CEO uses social media.

Learn more including examples of companies using social media to drive lead generation in theWishpond infographic below.

Authored by:Aaron Elliott

ChristineMatus.com

561-444-8860

5 Inexcusable Social Media Sins

Social media is a great way to connect with people, but it can also turn some people off. Here are five inexcusable social media sins to avoid.

1. It's Been Weeks Since You Posted
Not responding to messages, including tweets and posts, is probably the most frustrating aspect of social media. If you have a lot of fans or followers, it's probably not easy to respond to every message on time, but if you just ignore messages it isn't sending a good vibe.

It's also not cool to just stop posting on your blog -- or even worse, close your account altogether. At least give your followers or friends a warning that you may not respond to messages for a few days or that you may not blog anymore.

2. You Share Everything You Do
Knowing what to share publicly and what to share privately among close friends is another pit fall many social media users encounter. And it usually doesn't resonate until something really personal becomes visible to everyone. Try to use private messages or email to send pictures or videos that might cause embarrassment or limit those that can view these posts. Check the privacy options for the social media site you use to avoid this problem.

Be wary of sharing things that have no substance. Sure, it's great that you just paid your CenturyLink Internet bill or you had a great night with a friend. Why not send the message to your friend instead of to everyone on your network?

3. You Use Every Social Network Invented
Creating an account on every social media site on the net just because you can, doesn't mean it's a good idea. Try to keep your social networks on two or three sites at the most. Any more than this becomes unnecessary.

If you are promoting articles, or allowing your readers to share blog posts with their friends, adding social media buttons to your site helps. It gets annoying when every possible sharing tool is available on the sidebar or at the end of the article. Try to limit the buttons to those that are popular or use a widget that neatly arranges the buttons on each post.

4. Your Profile Pictures Are Ambiguous
The profile picture is a picture of you, not of you and your friend, a couples picture, group picture, pictures of your baby or child, or pets. Scenery is cool, though. So, to summarize, post a picture of you and keep other pics in your account. And don't use a profile picture that is more than five years old.

5. You Post Links That Are Misleading
No one wants to open a link that leads to content that upsets their sensibilities. It's even worse when pranksters send a link under a false description that ends up disgusting or scaring you. So try to limit the number of times you do this. If you have an obsession with sending these types of links, stop using social media and seek therapy. 

These five social media sins can cost you fans, friends, followers, and subscribers. Be more aware of what you post and how it might affect others.

Authored by:Philip Cohen

ChrsitineMatus.com

561-444-8860

Build a better social media marketing positioning.. Know your fans

If you are trying to build a better social media marketing positioning, making your engagement with your fans and followers is essential in order to promote a better stance in promoting your brand or business in the social media sites. Your ability to deal with your social media fans will depend upon your understanding regarding their behavior and learning how to deal with them in a professional manner. Some of your fans may be loyal, grateful and encouraging while others may become very highly critical and annoying. Regardless of what kind of behavior they may have, you need to learn how to interact with them in a way that will help promote or protect your business or brand better. Here are the 7 kinds of social media fans and how to interact with them more effectively.

1. The Perk Seeking Fan
This kind of social media fan is always in search for the best deals available for grabs. He will always be in search for lots of perks that will be highly beneficial for his money. This is a deal go- getter kind of fan that will always make purchases based on the best deal offers that they can find online. In order to attract this kind of social media fan, you need to offer great promotion deals, discount coupons and other freebies more often to keep his loyalty.

2. The Silent Fan
This kind of fan is the silent type who may be following your business or brand but is not an active customer. Most of the time, they follow you because some of their friends do but does not perform productive action that will benefit your business but does not cause any harm on your site as well. In order to make a silent social media fan an active one, you can improve your website content by introducing interesting videos, content and images that will likely engage them to be an active fan instead of being a passive one.

3. The Casual Fan
This is a social media fan type who was engaged in your business in the past and continues to connect with your brand mainly because of past purchases. They continue to boost your social media visibility by continuing to like your business and gives good recommendation to their friends. In order to make him level up from a casual liker to an active fan, your challenge would be to offer more creative and fresh products and services that he may want to avail of and to further recommend them to his circle of friends.

4. The complainer
This is a type of a social media user, not actually a fan, who likes to rant and complain. While he is not necessarily a fan or an active customer, you can interact with them professionally by not ranting back but politely answer issues concerning about your products and services. Perhaps an explanation will pacify them and might convince them to patronize your brand. Do not attempt to answer issues not related to your products in order to avoid unnecessary and irrelevant matters beyond your concern.

5. The cheerer
This kind of a social media fan is someone who likes to promote, cheer and recommend your brand to their friends. Since this fan is active in promoting your products and services, you can make use of their help in recommending your business in the social media network by offering worthwhile offers that will entice them to promote the same to the social media network. This kind of a fan will help drive your community growth and increases the awareness of your brand within the social media community.

6. The unhappy customer
This is a fan who openly shares their bad experiences in their social media. The negative things that an unhappy fan will share in the social media community can damage your reputation therefore you need to act immediately to contain the damage. Continuously monitor your social media page and act upon the negative comments about your business and respond to it professionally with clarification to clear some issues. Your quick response is essential in order to reduce the extent of the bad publicity about your products and services.

7. The loyalist
This is a very loyal social media fan that gives support to your business all the way. They like to recommend your products and services to the public whether offline or online and give your business constructive criticisms and praise. They are always ready to defend your business against its detractors. In order to keep your loyal fans, give recognition for their loyalty by offering them gifts of appreciation for their positive comments and support for your marketing efforts. Your loyalist fans are assets to your business and you need to consistently recognize them and reward them for their loyalty.

Authored by: Stacy Carter
Stacy Carter is a tech writer about mobile applications, spy software and other tech news via online exposures.

ChristineMatus.com

561-444-8860

This is AMAZING! Great visual from Google itself of how search really works.

 http://www.google.com/intl/en/insidesearch/howsearchworks/thestory/

What I've Learned from the Short Sales Experts

Today I met with The McClintock Group Palm Beach's most sucessful Short Sale real estate agents to learn more about the short sale process and how and why they are so sucessful in closing almost every transaction. Here's what I've learned from The McClintock Group today.

“There’s nothing better than being able to give a seller a new chapter in life,” says Joel McClintock, of The McClintock Group, Keller Williams Realty in Palm Beach FL. Talking about the the many years his team has spent honing their short-sales expertise. “The recommendation letters we have from people . . . you can’t explain the gratitude people feel.”

Whether short sales are a small segment of your business or critical to your survival, you need to know how the process is evolving so that you can beat the high failure rate that continues to plague short-sale offers.

“Lenders have hired more staff, developed more structured escalation policies, and in a few notable cases adopted technology platforms, all intended to improve the quality of their work on short-sale files,” says Joel McClintock “

To the sellers and buyers you serve, being able to masterfully close short sales will make you a hero, a genius, and a saint all rolled into one—a hero for the fearless persistence you show when you hear no (or nothing) from the lender; a genius for being able to understand and explain the changing short-sale guidelines; and a saint for being willing to proceed against the odds.

A Wellington resident found himself on the brink of foreclosure a few years ago after the value of his luxury Home plummeted. He talked with four salespeople before finding Joel McClintock, “Joel took the time to explain the whole process,” writes the Wellington home owner. “He was the only one who said the sale might not go through. He was very up-front about expectations.”

Three months later, the home owner had sold his luxury home in a short sale. “I avoided foreclosure, and my credit looks great,” he writes. He has since bought another home.

A part time Boynton Beach family was on the other side of a short sale. They live in the United States just six months of each year. For several years, they rented from a friend. Another salesperson offered nothing but discouragement. “She kept saying, ‘Don’t buy a short sale. You have to negotiate with the bank, it’s a long wait, and you won’t get it because 30 percent of them don’t go through,’ ” writes the family. When they found a short sale listed by Joel McClintock, we fired the other salesperson. The prospect of dual agency didn’t alarm him: “I’m a shrewd businessman.” he writes.

Three times, the family threatened to pull the plug rather than bring more money to the transaction. As a result, “I found out the bottom-of-the-barrel price the bank would take,” But that price was still higher than the family was willing to pay, so Joel McClitock convinced the seller to put $3,000 into the deal. “It was an emotional roller coaster, but it was pretty amazing because we got the seller to kick money into the pot, we got the bank to drop its price, and he got me to raise my maximum amount,” they write. “The other salesperson couldn’t have come close to this.”

One Destination, Many RoadsWhen you embark on a short sale, the biggest obstacle you’ll face is the lack of a clear, consistent, dependable path. “In Forrest Gump vernacular, short sales are like a box of chocolates,” Apart from the basics—submitting a hardship package and waiting for the bank’s answer—“you have to approach each sale individually and, at the same time, stay on top of a constantly changing landscape,” The McClintock's say.

That starts with an understanding of the federal guidelines that have been created for loan servicers, the entities that collect mortgage payments from home owners and attempt to work out distressed loans through modifications, short sales, deeds-in-lieu of foreclosure, or, if all else fails, foreclosure.

Borrowers who fall within federal guidelines may be able to accomplish a short sale using the Home Affordable Foreclosure Alternatives program. But the HAFA guidelines vary depending on whether the loan is held by Fannie Mae, Freddie Mac, or a private entity, so it’s important to know who owns the loan. Even if they don’t qualify for HAFA, borrowers may still be able to do a short sale—but factors such as the documents required in the hardship package, qualifying criteria, and speed at which a negotiator is assigned will vary. Learning the variations takes time.

After a sale, “I always ask the processor or negotiator, ‘Is there anything we could have done differently?’ ” In this way, we get to know each bank’s particular hang-ups, such as wanting every page of the short-sale package numbered.

As 25-year veteran of the business, “There are still too many lost faxes and inexplicable valuation problems,” Joel McClitock agrees. “There’s also too much ad hoc policy making by inexperienced lender representatives—and too much waiting on hold.”

The McClintock's avoid faxing altogether. “I use certified mail,” Joel McClintock says. “If a document is lost, we can say, ‘You received it at 10:38 a.m.,’ and then it’s mysteriously found. Even if it costs us $20, time is important.”

To curb problems, many servicers are turning to technology platforms that allow you and the servicer to collaborate throughout the short-sale process. The biggest, Equator, was first released as REOTrans in 2003, the platform was expanded about two years ago to handle short sales. It’s used by several major servicers, including Bank of America and Wells Fargo. In general, platforms such as Equator have been lauded for bringing more accountability to the process. But for some practitioners, particularly those with established systems, the change can be daunting. Picking up the phone to communicate an update and making a note in your file won’t suffice. All updates must be recorded in the system.

You’ll have problems if you don’t use the system properly, Michele McClitock says. “Also, beware of a subtle shift some lenders are making from a document-driven to a data-driven process in which you’re expected to do data entry,” Joel says. “It’s one thing to upload a financial statement form that has been completed by the seller and quite a different thing to enter the data on an online form. There’s a risk of introducing an error that could cause a problem in an otherwise approvable short sale.”

If technology is gaining importance, it still plays second fiddle to experience. “It’s a mistake to assume that the lender will place the short sale in the right program, properly apply program guidelines, or understand state-specific regulations,” says Joel McClintock. If you want to achieve the best possible outcome for the owner—a sale with no deficiency judgment—“fair or unfair, you need to be the smartest one in the room,”.

We set clients’ expectations at the outset. “We tell the seller and the buyer’s agent up front that we're going to come down hard on them because we need those documents signed and back the same day,” 

If you’re working with buyers, you need to assess their readiness. “Not all buyers have the temperament for a short sale,” Joel McClintock says. “Those who require a dependable closing schedule or lack flexibility probably aren’t the best candidates.” You also need to learn as much as you can about the listing and listing agent. Ask: How many short sales have you done? Have you had any hardships? Has an appraisal been done yet? Which lenders are involved?

JD McClintock finds about 10 properties in his buyers’ range, then does a phone interview with each agent. But just asking the questions isn’t useful unless you know why you’re asking, he says. Experience with different lenders will tell you, for example, whether the process will extend beyond your buyers’ time frame or the holder of a second lien will stand in the way of the sale.

Banks Are People, Too
Knowledge gives you bargaining power. “Agents will come in with a $300,000 offer. They’ll be dealing with the lowest-level bank employee, and the BPO will come in at $320,000,” says Joel McClintock. “They have worked on this for months, but they’ll walk away and say, ‘We tried our hardest.’ They don’t know there’s another way to go.”

That other way is to escalate. Joel McClitock has established relationships up the chain of command, enabling his team to cut 30 days off the typical four to seven months it takes to close a short sale, he says.

“There’s an art and science to escalation—when to do it, how to do it,” says Joel McClitock.

“Many real estate agents don’t want to do short sales because they don’t think they can get it done,” JD McClitock says. “Counter back to the banks! You can always provide comparables to support your value. If you’re weak, they’ll run right over you. And ask the seller to contribute. These second mortgages take huge hits; they can’t give you a dime. You have to have a backbone.”

It’s time-intensive work. “At any given time, we are negotiating 50 short sales,” Joel McClitock says. “There are many nights we're in the office going through every file, so we're ready if there’s a request. You have to be organized and know where each file is in the process.”

Deals can turn suddenly. “In one case, we had a cash buyer and bank approval,” Joel McClintock says. “Two days before closing, the bank said it was countering the offer by $15,000.” JD MCClintock jumped in his car and captured photos of comparables to show why the lower offer should stand. “Finally we got it done,” the McClintocks say in harmony. “The negotiators said, ‘You physically took the transaction in hand. Ninety percent of agents wouldn’t do that.’ ”

Joel recently worked with a transferee whose house was $150,000 underwater. His parents had cosigned the loan, and he didn’t want to hurt their credit. “Because he was current, the bank denied him,” says Joel, who reached out to a senior vice president and succeeded in changing the decision.

The point to remember in such a situation is that the bank is not the enemy, Michele McClintock says. “Bank employees" can be inept, but so can agents. They’re human and they’re overwhelmed. You’ll send them paper. They’ll lose it. You’ll send it again. That’s just the way it goes.”

How HAFA Has Helped
In 2009, the U.S. Treasury Department unleashed a torrent of new acronyms for servicers, all under the umbrella of Making Home Affordable. MHA provides guidelines and incentives to lenders to encourage mortgage modifications and to facilitate short sales or deeds-in-lieu of foreclosure in the event a modification isn’t possible or doesn’t work. Lenders start by qualifying borrowers through the Home Affordable Mortgage Program. Those who are eligible for HAMP (based on the size of their mortgage and their financial situation) but don’t qualify for a modification may be considered for the government’s Home Affordable Foreclosure Alternatives program. HAFA offers:
Guidelines for completing short sales and deeds-in-lieu of foreclosure.
Incentives for servicers and investors.
Moving expenses for sellers.

As we ended out conversation they mention that inexperienced short sale agents are welcome to send them referrals. "It's about doing the right thing for people, not a commission" say Michele McClintock. 
The McClintock Group be reached at 561-331-2444 info@TheMcClintockgroup.com

Avoid These Common Seller Mistakes

Now that home price have been rising, and buyers are getting off the sidelines (particularly as interest rates creep up), you may be more inclined to list your home — finally! Just make sure you do it the right way:

Price home to sell
A recent poll shows that 75 percent of homeowners think their agent’s listing price is too low! If you’re trying to cash in on the momentum that’s been building, and you think that a higher price is the answer, think again. It could ultimately slow down the deal! It’s better to price the home in line with comps and generate initial interest and attention. Then, if the market takes it higher in the form of multiple offers, great! But if you overprice it to begin with, you’re setting yourself up for disappointment, as you’ll likely get less than fair market value.

Think: Web appeal
Don’t make the mistake of glamming up your home before the open house. Rather, do it right before you post your listing online, as that’s where 90 percent of buyers start their search — on the Web! — and if they don’t like what they initially see, it’s onto the next house, no questions asked.

Professional photos sell!
The bottom line is that low-quality photos make bad first impressions. Use only high-quality, high-resolution photos to showcase your house. And more and more people are searching for homes via mobile devices, so make sure your photos look good on a smart phone. In June, 270 million homes were viewed on Zillow Mobile — that’s 104 homes per second. 

Choose the right agent
When it comes to selling your home — probably the most expensive thing you own — some sellers will hire a friend, a relative who does real estate part time or the agent who is asking for the lowest commission rate. Don’t be foolish. It’s really important that you go with someone who really cares about the transaction, knows how to attract qualified buyers, is a skilled negotiator and understands the complexities of contracts and paperwork. To find the best agent ask me, I'll only tell about the best!

Consider early offers
Once a property is marketed, it typically gets attention right away — in the first few weeks! Eager buyers, weary of looking at the same old listings, will likely pounce, and perhaps even make an offer right away if your house meets their criteria. Don’t be spooked by early bids, hold out for better offers or second guess yourself, wondering if you should have asked for more. So long as the early offer comes in near the asking price, your property was priced correctly. Entertain the offer — even if comes as a total shock/surprise — and take it seriously. More often than not, that first offer turns out to the best one.

561-444-8860

Hey Agents, Here’s Why You Should Put The Phone Down

Real estate can easily turn into a 24/7 business. Amidst buyer and seller frenzy, how can real estate agents maintain work/life balance?

Easy. Just don’t answer your phone.

Phone driving you crazy? Maybe you should stop answering it, real estate agents.

Now before your hackles and eyebrows rise, realize that we’re simply talking about setting phone limits. You don’t want to turn into “that agent” who never answers the phone or returns emails.

But you do need to stop:
Answering your phone every time it rings
Replying to every text, email and social media alert immediately
Panicking every time you misplace your phone

…and here’s why:
You need to be at your best with every call.
Nobody wants a burned out, frustrated agent on the other end of the line who can only say ‘I can’t talk right now.’

Imagine talking to your client. On the other end of the line, you hear three background conversations, horns honking, a television blaring and a toddler screaming.

This is not a productive conversation.

There’s nothing worse for a professional relationship than failure to give proper attention. If your clients feel they’re getting one-quarter of your attention with every call, you’re doing something wrong.

If you’re in the middle of something, don’t answer your phone. Check your voicemail as soon as possible, and reply when your full attention is at the ready. And remember the power (and convenience) of text messages! Send a quick text if an urgent reply is needed and appropriate.

When in doubt, regroup. One focused, quiet call is better than ten hectic, disjointed conversations.

Clients will appreciate your sense of family.
Let clients know this up front. They admire honesty and work ethic. They know that you work extremely hard for them during the non-family hours.

Your clients have a family life, too. And unless they’re totally selfish, they’ll understand and appreciate your need for scheduled family time.

And if they’re totally selfish, you may not want them as clients, anyway.

You HAVE to set boundaries.
No one gets to the point when they can turn it off. One must manage clients’ expectations. Set limits (working hours) and stick to it. If anyone doesn’t respect you professionalism, you don’t need them as a client.

You can’t assume that clients have reasonable expectations when it comes to your working hours. Your habits tell your clients what to expect. If you routinely answer the phone at 3 a.m., your clients will continue to call at 3 a.m.
So don’t answer the phone at 3 a.m.

Start any professional relationship with clearly defined phone-answering protocol. Explain how and when clients can best reach you.

Example: “My phone is on from 7 a.m. to 8 p.m. every day. If you need something outside of those hours, please leave me a message or send me a text and I’ll reply as soon as possible.”

Most clients are reasonable and understand boundaries. You just have to explain what those boundaries are.

You need to recharge.
It will make you more focused, less cranky and more effective. Its a good business decision. You don’t expect to talk to your other professional service careers 24/7. Aligning expectations is a primary skill.

There’s a reason we live in homes and not in cubicles.

You charge your phone every night. Don’t forget to do the same for your life and your relationships. Everyone needs to rest and recharge including real estate agents.

You only live once. Do it right.
Nothing is more important than your family. Enjoy your family while they’re here.

Personal relationships are strengthened and weakened in tiny, seemingly unimportant moments:
Over a family meal
During a backyard wiffle ball tournament
On a bike ride with a close friend

Don’t skim those moments from your life to focus more on business. There are always exceptions, of course, but don’t let those exceptions become the rule.

Let this blog post be your jolt. Enjoy your family and friends. The satisfaction and joy that result from good personal relationships will seep into every aspect of your life, including your business.

So do yourself, your loved ones and your business a favor: Don’t answer that phone.

Want even more time? Hire a Professional Transaction Coordinator, such as myself and free yourself. You'll be glad you did.

That's What Real Estate on Higher Level is All About.

561-444-8860

10 Bath and Kitchen Trends to Watch This Year

Shades of gray, quartz finishes, and energy efficiency are all growing in popularity in kitchens and baths this year, according to a National Kitchen & Bath Association survey of 2013 design trends.

NKBA reports that home owners this year are spending, on average, $47,308 on making over their kitchens, and $18,538 in bathrooms.

Here are the top 10 trends emerging from this year’s report for kitchens and bathrooms:

1. Gray color schemes

2. Quartz finishes for counter surfaces

3. Transitional styles — a blend of traditional and contemporary

4. White painted cabinetry in the kitchen

5. Glass blacksplashes

6. LED lighting

7. Touch-activated faucets

8. Satin-nickel finishes in kitchens

9. Ceramic or porcelain tile flooring

10. Undermount sinks in bathrooms

By Melissa Dittmann Tracey, REALTOR(R) Magazine

Buyers Say They Want This in their Home’s Kitchen….

Buyers Say They Want This in their Home’s Kitchen….

Your Clients are Tech Savvy... Are you? Consumers are 73% more likely to list their home with an agent that uses video.

Video may not be new technology, but the propensity for consumers to watch, learn from and shop by watching videos is a relatively recent trend. More importantly it's a trend you have to understand and exploit in your real estate marketing plan. eMarketer and Exact Target did a recent study that shows large audiences across social, mobile and video destinations.

So you know where they're spending their time online... 

but how do you reach them?

Your current real estate marketing plan probably has the basics covered — your website, LinkedIn, and of course for your listings sites like Realtor.com, Trulia, Zillow and social media sites like Facebook. But if you really want to be forward looking, differentiate yourself from the pack, and reach buyers and sellers where they live, you should get out the video camera and get on YouTube. 1 billion people visit YouTube each month worldwide, resulting in 1 billion daily views on mobile devices!

Consumers are 73% more likely to list their home 

with an agent that uses video.*

Why? Because buyers know instinctively what YouTube announced at the 2013 Consumer Electronics Show: in the near future, 90% of all web visitors will be watching video. Folks are using every possible type of medium to learn about prospective listings and agents, including blogs, photos and videos. Not surprisingly, they want you to use every tool in your digital toolkit to market to them and to promote their listings.

We see three main types of videos in the real estate landscape:

Videos that feature listings. These are the videos you're more than likely doing already. Video of homes you're listing and/or neighborhoods you specialize in. No longer innovative, this approach is really required for any realtor.

Video tours that build brand whether it's for your agency or for you.

Videos that educate realtors. A quick YouTube search will bring you a wealth of videos from industry pundits so that you can benefit from the knowledge and skills of your colleagues around the globe. Sites like BiggerPocekts and Active Rain also provide a wealth of knowledge from agents who are in the trenches everyday.

*Source: National Association of Realtors (NAR) via InMan News.

3 tips for a successful property seller closing- Christine Matus PA, Palm Beach Transaction Coordinator

1. Check the Property Appraiser’s website (PAPA) before taking the listing. Carefully review the deed and make sure that the individuals named on the deed are those who are signing the listing paperwork. Don't rely on who is listed as the owner. Open and read the deed.

2. Prepare all your required disclosures when you take the listing and attach them to the MLS. It’s a great time saver when these forms are included with the offer. Make sure to note the disclosures are attached in the broker remarks.

3. Calendar events and important dates on the day of acceptance. Track your important events and dates in your transaction. Add the date of contingency removal, the date disclosures are due to the buyer, the date of acceptance, deposits due and all other important dates. Be mindful of the calendar so that your client is always protected throughout the transaction.

Or you can make it easy and hire a professional transaction coordinator  (Closing Coordinator) such as myself, and not worry about any of it. I have you covered!

561-444-8860

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If your going to do it. Do it right!

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Real Estate on A Higher Level

Why Hire Christine Matus PA

Christine Matus

Christine Matus