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How to Come to be a Famous Real Estate Agent

So, you have taken the courses and you have now become a real estate agent. Or, you now are a real estate agent. Now that you are, or now are, a real estate agent, how do you become a well-known real estate agent?

Right before receiving into the specifics of turning into well-known, you want to sit again, kick up your ft and decide on your specialized niche. Your specialized niche will be the springboard from which you start your campaign to become well-known. Is the luxurious market your thing, or maybe currently being a purchaser’ agent is extra your cup-of-tea. You want to decide where your strengths lie and then you’ be capable to improved concentrate your strength and hone your experience.

At the time you have defined your specialized niche, you are prepared to move forward with THE thing that will make you well-known in your specialized niche.

It has been mentioned of late that 80 per cent of house looking begins on the Web. If you are to become a well-known real estate agent, you need to become Web savvy. Most big brokers these days offer a web site for their agents. It would be a superior thought if you sought out schooling to make your web site stand out from the rest.

In addition, obtain an reasonably priced internet area from a single of the on the net vendors like GoDaddy. You can name it some imaginative name that will make people come across you and support them don’t forget it when they want to get in get hold of with you.

Branding is the important to standing out from the rest. You need to have a manufacturer that will make people don’t forget you. You’ want to backlink your branded area name to your web site with your broker to direct people to your listings and information. Also, come across strategies to use your manufacturer to make it some thing that sticks in people heads. Affiliation is a prevalent technique human beings use to keep memory. Associate your experience or name with some thing relevant to real estate that people will don’t forget. You want your manufacturer to stand out from the rest.

Together with delivering a internet tackle for each and every agent, some brokers even offer schooling for their agents to find out how to established up their web sites to make them specific and stand out. You’ want to both show up at schooling or hire a person to build your web site for you.

Both way, you’ want to get your web site up and managing with splashy graphics and backlinks that lead people to useful information. Make absolutely sure you insert a high quality photograph of on your own. Revenue have been shed owing to an novice photograph.

YouTube is a web site where you can publish movies you’ established of useful real estate information. Together with submitting it on your web site, some information you may want to take …

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Best Real Estate Program For Investors?

Realeflow lets you hold keep track of of advanced transactions like brief profits and rehab initiatives. It contains HUD-one spreadsheets and the skill to produce multiple logins for your crew-users, these types of as small business associates and Realtors. You get up to 16 high quality lead era websites (you spend for the domains) and if you decide for the upgraded package deal, you also get personal financial institution sales opportunities, cash buyer sales opportunities, renter sales opportunities, tax lien sales opportunities, fed into your database. Realeflow has some distinctive functions these types of as voice-broadcasting, a built in neighborhood fax selection to ship and acquire faxes, and their mobile internet marketing platform, Moby (for SMS internet marketing broadcasts). A person of the great functions of Realeflow is their Home Launch web site template, which provides you the skill to “start” a assets and provide it rapidly making use of the exact groundbreaking internet marketing methods and psychological triggers initially pioneered by Jeff Walker in his “product start method” .

Freedomsoft has only three lead era websites involved – buyer, seller & personal cash financial institution templates. Within the platform you have entry to all of the varieties and contracts you need to have for your wholesale discounts. You have the solution to upload Point out contracts as very well, which arrives in useful when you are making features on MLS-mentioned attributes or financial institution owned discounts. Freedomsoft however, does incorporate some notable functions that Realeflow does not. The platform also has, a person-simply click internet marketing, MLS sales opportunities, more video clip education in the means tab – (movies and scripts for negotiation, and downloadable audio books – REO Rockstar and Probate Gains). Two of the crucial functions that I like most about Freedomsoft are the give calculator and the skill to fill out contracts instantly from in just the program. This “offerbot” technological innovation, in my viewpoint, is what provides Freedomsoft the edge. It saves a great deal of time by prefilling out most of the give for you. Now, if you’ making dozens of features each and every week (which you really should be), all you would need to have to do is enter the Earnest Money total, The Offer you Amount and the closing date, and freedomsoft requires treatment of the rest. It even has a handwriting font to fill in the signature for you. I hope Realeflow requires note of this characteristic and incorporates it into their next program improve.

Now it has to be explained that Realeflow has lots of functions that give it a competitive edge for brief sale traders and rehabbers. As I stated prior to, the platform will help you fill out the HUD-one and lets you to established deadlines & reminders for different tasks that need to have to be completed during the brief sale negotiation system. Realeflow retains you arranged and reminds you to gather the suitable documents needed from the seller. If you are rehabbing attributes or need …

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Buying a Second Home in the Florida Keys – Don’t Rent Your Vacation Home, Buy It!

With Florida Keys real estate prices down to 2003 levels, there are lots of opportunities to buy a second home at a great price in this paradise of islands. The Florida Keys has long been a big draw for people who visit often enough to see the advantages of owning their own vacation home instead of paying rental fees every year – not to mention costly hotel rates.

A Monroe County ordinance restricting short term rentals makes it tough to find properties that can be rented for less than one month, but in incorporated communities such as Key Colony Beach, there are plenty of properties with short term rental licenses. Buying a home like this may allow you to rent your home when you’re not using it.

Here are two listings in Key Colony Beach that already have rental histories.

A half duplex on open water (MLS#541138) is offered at $745,000. This two bedroom, two bath stilt home faces east on Bonefish Bay and offers the boating enthusiast a deep draft, 30 foot finger dock that can accommodate a boat up to 50 feet. The home comes fully furnished and has tiled floors, central AC/heat, accordion storm shutters, washer dryer a fish cleaning table and outside shower.

Another KCB half duplex (MLS#546837) listed at $399,000 offers a lovely deck on a wide 100 foot canal, thirty feet of canal front with a cement bulkhead and a wood step down dock. There is even a designer (D’Asign Source) cement fish cleaning station. The property is nicely landscaped and fenced, and outdoor furnishings include a gas grill and patio set. The cozy two bedroom, two bath home has central air with heat, tile and carpeted floors and a fully equipped kitchen including dishwasher. All rooms are furnished; it’s move in ready with a rental history and future rentals in place.

Key Colony Beach offers all the delights of the middle Florida Keys — excellent boating, fishing and diving, plus the amenities of a beach club. The neighboring island of Marathon offers a golf course, restaurants and night life and an international airport.

Find some tips on buying a second home from MSN Money. Details on the homes described above in the resource box below.…

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Law of Attraction For Real Estate – Attracting Your Ideal Real Estate Agent

When homeowners decide to put their home on the market, the first thing that usually comes to mind is: “How do we find the right real estate agent?”

The truth is, finding the perfect person to sell your home is crucial to getting your home sold quickly and for top dollar. But how can you find just the right agent?

There is an easy five-step formula, using Law of Attraction, to attract your ideal real estate agent, and it is as easy as KABAM! Yes, that is right, K-A-B-A-M.

Using Law of Attraction and the KABAM Five Step Formula

K-Know what you want. Sounds easy enough, right? But take a few minutes to jot down what you really want. I have started the list for you and suggest you customize it for your exact needs.

1. I want an agent who knows my neighborhood.

2. I want an experienced agent.

3. I want an agent who is skilled at pricing homes for sale.

4. I want an agent who has a list of approved buyers for my area.

A-Ask for what you want. It is that simple. Be sure to spread the word when asking-email your family and friends for recommendations, tell the grocery clerk what you are looking for, be public about what you are looking to attract.

“I want to hire the best real estate agent. One that matches exactly what I am looking for.”

B-Believe you are receiving it. Know that your ideal real estate agent is on his or her way. Start cleaning out your closet, sorting the garage, packing up boxes, and making room for the new homeowner.

A-Act on inspiration. If it feels right, do it. That means if someone refers an agent to you and you like the person, do some due diligence and when you are satisfied, make a commitment to that agent.

M-Manifest your desire. This really is a simple process. If you follow the first four steps, the “M” in KABAM! comes easily.

So the next time you ask yourself, “How do I find the right real estate agent to sell my house?” remember the one word answer. KABAM!

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New Jersey Penalties and Consequences For Failure to Comply With Apartment Registration Requirements

In today’s article, we will discuss the importance of two separate documents required for landlords of residential real estate.

Certificates of Occupancy

The first document is the Certificate of Occupancy. The vast majority of municipalities in the State of New Jersey require that the landlord obtain a new Certificate of Occupancy each time a new tenant moves in. Inspections that accompany the application for a certificate of occupancy vary by municipality. All towns will check the smoke detectors, and if there is gas heating, there will also be a check of the carbon monoxide detector. Some towns will also conduct much more thorough examinations in an attempt to increase the quality of housing throughout the town. It should be noted that it is no longer permissible for a municipality to require a new certificate of occupancy inspection when a family expands by natural means (e.g.; the birth of a new child).

While most landlords are vaguely familiar with the fines which the municipality may impose upon them for failing to obtain a certificate of occupancy, few are familiar with the far more severe consequences which can result from such failure. Where certificates of occupancy are required, a home rented without a certificate of occupancy constitutes an illegal contract. Hence, in the matter of Khoudary v. Salem Board of Social Services, 260 N.J.S. 79 (App. Div. 1992), the Court determined that a landlord who rents without a certificate of occupancy is without authority to file a suit for rents.

In essence, what the Khoudary Court said was that it would not help the landlord enforce an illegal contract. In the event that the tenant vacates the premises owing rents, either for prior months or months that may become due under the unexpired lease, the landlord may not file an action to collect the rents, and furthermore, may not apply any of the tenant’s security deposit toward these rents. The landlord can still bring an action or withhold security for tort damages, such as destruction of the apartment. It remains uncertain whether a Court should allow a tenant to file an action for return of all rents previously paid under the illegal contract; however, most Courts will rule that the tenant should pay for the quantum meruit benefit of the use of the apartment.

For nearly a decade, Courts interpreted the ruling in Khoudary to mean that failure to obtain a Certificate of Occupancy was a bar to eviction. However, this issue has been since clarified. In the matter of McQueen v. Brown and Cook, 342 NJS 120 (App. Div. 2001), the Court ruled that while failure to obtain a certificate of occupancy rendered the contract illegal, the landlord still maintained the right to evict the tenant. Essentially, the Court’s decision holds that a tenant should not be able to benefit from the illegal contract, and furthermore, it is clear that leaving the tenant in the illegal rental would be contrary to public policy.

Landlord Registration Statement

While failure to obtain a …

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Realty Vs Real Estate Vs Real Property

Realty and personal property terms have often been confused as to what they exactly mean. Here we will clear that right up for you. We will look at the terms personal property, realty, land, real estate, and lastly real property.

Let’s begin with personal property. Personal property also known as chattel is everything that is not real property. Example couches, TVs things of this nature. Emblements pronounced (M-blee-ments) are things like crops, apples, oranges, and berries. Emblements are also personal property. So when you go to sell your house, flip, or wholesale deal, you sell or transfer ownership by a bill of sale with personal property.

Realty.

Realty is the broad definition for land, real estate, and real property.

Land

Land is everything mother nature gave to us like whats below the ground, above the ground and the airspace. Also called subsurface (underground), surface (the dirt) and airspace. So when you buy land that’s what you get, keep in mind our government owns a lot of our air space.

Real Estate

Real estate is defined as land plus its man made improvements added to it. You know things like fences, houses, and driveways. So when you buy real estate this is what you can expect to be getting.

Real property

Real property is land, real estate, and what’s call the bundle of rights. The bundle of rights consist of five rights, the right to possess, control, enjoy, exclude, and lastly dispose. So basically you can possess, take control, enjoy, exclude others, and then dispose of your real property as you wish as long as you do not break state and federal laws.

Lastly there are two other types of property we should mention.

Fixture

Fixture is personal property which has been attached realty and by that now is considered real property. So you would ask yourself upon selling to determine value “did you attach it to make it permanent?” The exceptions to this rule are the garage door opener and door key, these are not considered fixtures.

Trade Fixtures

Trade fixtures are those fixtures installed by say a commercial tenant or can be the property of the commercial tenant.

I hope this clears up some misconceptions about personal property, realty, land and real estate and now fixtures and trade fixtures!…

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Prospecting For Clients in Commercial Real Estate

In commercial real estate it is essential that you know and prospect the right people and lots of them. These people will be landlords, tenants, property investors, sellers, and buyers. The most successful real estate agents and brokers will consistently contact and know several hundred of these people. They will contact every person in their database at least once every 90 days, and commonly much more frequently so that the ‘bridge of trust and relevance’ is established. To do this you should be very organised at record keeping and collation; take personal ownership of the prospecting task.

At the fundamental level, the commercial and investment property industry is just about people with property challenges and problems. You should be the solution that they seek, and your solution should be better than your competition agents and brokers. So what solutions do you bring to the prospect? Do not say that:

  • You know your market
  • You have done the deals
  • You are the best around
  • You have the best team
  • You are the best communicator
  • You are the best agent
  • You drive the best car!
  • You have been in the market for 100 years!

All of this generic ‘rubbish’ is frequently ‘dumped’ on a prospect by ordinary agents in just about every property sales or leasing presentation. Be better than this by bringing real evidence, strategy, and knowledge to the table. Stand tall on what you know and what you can do. Show it! Be part of your own solution for the client so that no other agent can ‘fill the gap’ for the client.

Do not offer tempting and standard low level solutions to your prospects such as discounted commissions, and free advertising, as this will do little to give you quality clients. Quality clients know that a good property promotion and solution for a commercial property, costs money and takes considerable strategy. Demand the commitment from your prospects to be part of the property solution that you have designed.

Today we are blessed with technology (databases, and email) when it comes to maintaining contact with our prospects. It is the personal contact that is more important to build your business than anything else and will remain so. Personal branding is a key element of creating market share and the long term opportunity for you. People need to know you individually, and that vision should give them confidence that you can solve their property challenge in a timely and cost effective way. Build your personal brand each and every day without fail by lifting the telephone and creating appointments. Business cards and lots of them are the best way to leave your mark after every meeting; forget the glossy brochures and concentrate on marketing yourself.

So what are the rules for getting the first appointment up and going for the targeted people that you want to meet and build a relationship with? It all comes down to this:

  • Deal with your fears and weaknesses early. On a daily basis it is
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The Dinosaur in the Deal – Are Real Estate Agents a Thing of the Past?

Are real estate agents a thing of the past?

According to statistics from the National Association of Realtors, they might be. The number of real estate agents has dropped over 26% in less than 5 years.

And I’d trust those numbers. Over the last two decades, the NAR has spent over $90 million in political contributions. Let’s just say they’re certainly invested in their own industry.

It’s common sense that the number of agents would have dropped. After all, a lot of professions have cut jobs since the recession. But across all sectors, you’d have to dig pretty deep to find a loss of 26%. In fact, only construction workers-a notorious casualty of the housing bust-can keep real estate agents company in terms of percentage of jobs lost.

Still, if I had to choose between being a construction worker and a real estate agent right now, I might choose to get out my hard hat. Once the economy turns around, people will begin building and buying homes again, if on a more modest scale. The age of the easily mortgaged McMansion is over, but construction workers will certainly be needed again, and their industry will recover. It has to-we haven’t yet found a way to outsource home building or build supercomputers that can do it for us. And thank goodness for that.

Real estate agents, on the other hand, are facing an entirely different dilemma. The business model that has employed them for so long is expiring. Real estate agents used to give people access to listings that no one knew about. They provided a crucial link to the city or neighborhood or community where a family wanted to move. They could find you a home that met all your specifications. If you needed to sell a home, they could handle everything for you, and put it on the market in style.

But now that you can find dozens of websites with video tutorials on how to stage your home, and now that Trulia has become everyone’s favorite iPhone app, the real estate game has changed forever.

Everything that a real estate agent can do, the average consumer can now do from the cost-saving convenience of his or her own home. 90% of home buyers find their home on the Internet, and there’s no stopping the Internet when it comes to industry change. Middlemen have been disappearing all over the place. We use ATMs to make deposits, do our taxes with cheap software, rent videos from Netflix. And I can’t think of the last time I called a travel agent-can you?

There’s a quiet revolution going on in real estate. Buyers and sellers are seeing that they can deal directly with each other, and most importantly, save money. Who would you rather go to Hawaii when you sell your house-you or your agent? I don’t like to make assumptions, but I think I know the answer to that one.

The only surprise is that the real estate agent has lasted …

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Why Most Real Estate Prospecting Letters Fail

Have you paid attention to the real estate prospecting letters you get in the mail?

Most of those real estate letters begin by breaking the #1 rule in copywriting: It isn’t about you.

Because those agents think the letters are about them, they begin the very first sentence with the word “I” or “We.”

As a result, a huge percentage of people begin reading the letter with a thought or feeling of “Why should I care about you?” or maybe “Yeah, so what? Who are you to me?”

The truth is, your prospects don’t give a hoot about you. They want to hear about themselves. The only reason they’ll read your letter is to see what benefit it holds for them.

You could say “My doctor says I’ll be dead by Tuesday unless you list your house with me,” and it wouldn’t budge them a bit. They’d think “Sorry, that’s not my problem.”

That’s a little extreme. But you get what I mean.

So there’s the first big mistake. And most of the time, from there it doesn’t get any better.

Those letters might go on to say how many listings an agent has or how many dollars worth of real estate he or she has sold. It might even mention their “alphabet soup” designations – which don’t mean a thing to most homeowners.

It’s all just more of the “me, me, me” message that doesn’t interest prospects in the least.

So what can you do instead?

You can write about their concerns and worries. You can show them that you recognize their problems, and then explain what you’ll do to help solve those problems.

Your approach will naturally be different if you’re writing to a “cold” group of homeowners in a specific neighborhood as opposed to say, a group of people with expired listings or a list of homeowners who have received a notice of default.

When you know what specific problems those homeowners have, it’s easier to show how you’ll solve them.

But even if you’re writing to a mixed farming area and don’t know what problems they need to solve, you can appeal to their curiosity and interest.

For instance, you can offer information about what’s been happening in that neighborhood. You can let them know how many homes are for sale or have sold in the past month or so. You can share average prices. You can tell them if prices are up or down from last month, or last quarter. And then you can offer to put them on your list for periodic updates.

Almost as an afterthought, you can let them know that you’d be happy to prepare a market analysis if they’re considering selling their home.

Today, successful marketing is all about giving something before you ask for anything. You have knowledge and advice. Give them freely.

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10 Most Expensive Tax Mistakes That Cost Real Estate Agents Thousands

Are you satisfied with the amount of taxes you pay? Are you confident that you’re taking advantage of every available tax break? But most of all, is your tax preparer giving you proactive advice to save on your taxes?

The bad news is that you probably do pay too much tax and you’re probably not taking advantage of every tax break. And most preparers do a poor job of actually saving their clients money.

The good news is that you don’t have to feel that way. You just need a better plan. This article reveals some of the biggest tax mistakes that business owners make. Then, it gives brief solutions to actually solve these problems. Please note that this article is designed to be an informational tool only. Before you implement any of these strategies, you should consult a tax professional for more specific guidelines and requirements.

#1: FAILING TO PLAN

The first mistake is the biggest mistake of all. It is failing to plan. It doesn’t matter how good your tax preparer is with your stack of receipts on April 15. If you didn’t know that you could write off your kid’s braces as a business expense, it’s too late to do anything when your taxes are prepared the following year.

Tax coaching is about giving you a plan for minimizing your taxes. What should you do? When should you do it? How should you do it?

And tax coaching offers two more powerful advantages. First, it’s the key to your financial defenses. As a real estate agent, you have two ways to put more cash in your pocket. Financial offense is increasing your income. Financial defense is reducing your expenses. For most agents, taxes are their biggest expense. So it makes sense to focus your financial defense where you spend the most.

And second, tax coaching guarantees results. You can spend all sorts of time, effort and money promoting your business. But that can’t guarantee results. Or you can set up a medical expense reimbursement plan, deduct your daughter’s braces, and guarantee tax savings.

#2: MISUNDERSTANDING AUDIT ODDS

The second big mistake is nearly as important as the first, and that’s fearing, rather than respecting the IRS.

What does the kind of tax planning we’re talking about do to your odds of being audited? The truth is, most experts say it pays to be aggressive. That’s because overall audit odds are so low that most legitimate deductions aren’t likely to wave “red flags.”

Audit rates are actually as low as they’ve ever been for 2008 – the overall audit rate was just one in every 99 returns. Roughly half of those audits targeted the Earned Income Tax Credit for low-income working families. The IRS primarily targets small businesses, especially sole proprietorships, and cash industries like pizza parlors and coin-operated laundromats with opportunities to hide income and skim profits.

#3: TOO MUCH SELF-EMPLOYMENT TAX

If you’re like most business owners, you pay as much in self-employment tax as you …

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Mortgage Loan Origination Software – 10 Functions of Mortgage Banking

Regardless of a mortgage lending organizations’ size, mortgage loan software, data security solutions and automation tools and services should be able to assist with mortgage loan automation requirements. In today’s chaotic mortgage lending environment origination and document security systems need to be easily configured to emphasize a company’s special needs and increase efficiencies across all aspects of the loan origination process, allowing lenders to increase quality and productivity.

Technology-driven automation is the key to succeeding in the increasingly complex, deeply scrutinized mortgage industry. Web-based (Software-as-a-Service), Enterprise mortgage software that supports the ten primary functions in mortgage banking will provide lenders with the necessary competitive advantages to succeed in today’s mortgage industry.

Ten Primary Functions in Mortgage Banking

  1. Mortgage Web site design, implementation, and hosting to provide product, service, loan status, and company information to mortgage customers and business partners
  2. Online loan applications for gathering information from borrowers and business partners that issue loan terms, disclosures, and underwriting conditions
  3. Loan origination software for managing loan data, borrower data, property data, general status reporting, and calculations
  4. Interface systems to send and receive data from real estate service providers, such as credit reports, flood determinations, automated underwriting, fraud detection, and closing documents
  5. Internal automated underwriting system that is simple enough for originators and sophisticated enough for underwriting portfolio loan products
  6. Document generation for applications, upfront disclosures, business processes, and closing documents
  7. Integrated imaging that is used from loan origination to investor delivery and for file archiving
  8. Interest rate and fee generation along with program qualification guidelines
  9. Secondary marketing data tools to track loan revenue and investor relationships, including warehouse line management and interim servicing to complete the back-office system
  10. Reporting such as loan delivery, year-end fee reporting, and HMDA reporting for loan application disposition

Web-Based, enterprise mortgage software that supports the ten primary functions of mortgage banking simplifies compliance, maximizes operational efficiencies, and increases profitability.…

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How to Get Rich Buying Real Estate From Your Parents With No Money Down and No Credit

You can get rich from the equity appreciation of real estate by buying property from your parents using traditional or creative financing that may or may not require a down payment or credit. Whether you are a first-time home buyer or an experienced investor, you can buy any type of property from your parents from a home you live in with them to an investment property you rent out to tenants. The following lists some reasons why you may find it faster, easier and financially more lucrative to buy from your parents than anyone else.

You Don’t Have to Buy an Entire Property

When you buy from your parents, you can purchase any percentage you want like 10%, 50% or 75%. If you pay less-than-full price, you will have lower mortgage payments and buying a house is more affordable. Regardless of what percentage you own, you still get the benefits of home ownership such as equity appreciation, mortgage interest deductions, property tax deductions and capital gains tax exclusions.

You Can Share the Responsibility with Your Parents

When you buy a partial interest in a property, you and your parents share the responsibility of owning it including the mortgages you each carry, the property taxes, homeowners insurance or homeowners association dues, and maintenance. Because you have more than one person responsible for a property, you can rely on each other for financial strength in the event of hardship.

You Can Elevate Your Status From Renter to Owner

Are you already living at home rent-free or paying rent? Is so, why not buy into your parents’ house, since you already live there, and get an equity stake in their property? Then, you are no longer living with your parents but living in your house that you own with your parents. If your parents have more than one property, you can buy into one of their secondary or investment properties and live on your own.

You Don’t Have to Get a Loan From a Bank

When you buy from your parents, you don’t have to qualify for a loan from a traditional lender such as a bank which has income, asset and credit requirements because your parents can act as a bank and give you seller financing for your purchases.

You Can Create Your Own Home Loan

When your parents act as a bank, you can get favorable loan terms by structuring your own payment schedule with a manageable loan amount, lower-than-market interest rate and repayment term of your choice.

You Don’t Need a Down Payment

Unlike getting financing from a bank which has down payment requirements, you can buy from your parents with no money down.

You May Get Property Tax Benefits

Depending on the state you live in, your property taxes may not be reassessed at current values when you buy from your parents or grandparents because of a parent-child and grandparent to grandchild property tax reassessment exclusion. This is a huge benefit when parents and grandparents have had ownership for …

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