Jennifer's Blog

Saw these great videos yesterday at a seminar that explains social networking and blogs.  Wanted to share them since I got such a kick out of them.

Hope you enjoy them as much as I did.

Here is some advice for new agents.  It came from 4 agents that have only been in the business for 3-4 yrs, but have become very successful.

Most effective things to do in your business:

• Know your inventory - Caravan even if you don't have any clients 
• Develop a Sphere of Influence - Give your cards to a couple of people to pass out for you
• Make sure to prospect - cold calls, warm calls, door knocking, expired listings (Not everyone is comfortable doing this)
• Be active
• Send cards or newsletters out
• Track where your business is coming from
• Don't make a client or prospective client feel like another number on your list
• Set goals - be specific and visualize 

How not to waste time:

• Prioritize each day - block a time to make phone calls, return emails, prospect, caravan, etc.
• Set a schedule and stick to it the best you can
• Always plan the night before for the next day
• Stay away from negative people - find the good in everything 

Things that they would do differently if they were starting over:

• Don't be shy about being a real estate agent
• Work their sphere
• Do a business plan
• Qualify clients better
  • Buyers
    • Send them to a lender
    • Take them around 3 times and if they still are not ready then don't spend as much time with them
  • Seller 
    • Find out how strong their motivation is

Advice on prospecting:

• Do open houses
• Find creative ways to add value to other people
• Check flex in the morning and at night - be on top of what's new

The biggest thing to remember is NEVER GIVE UP!

Today a guest speaker, Robert Brand, talked about some disclosure questions at our weekly company meeting.

I found it very informative. 

He first brought up REO sales.  Banks are not exempt from disclosures but exempt from TDS, NHD, and Mello-Roos.  They have to disclose if there are any known material facts, earthquakes, meth lab, smoke detectors, fraud and deceit. 

Listing agents should provide the bank with REO advisories (some banks will try to say they are exempt or may not know what they are suppose to supply).  Confirm in writing that you gave them the advisories. Do the AVID, home inspection, home warranty.

Selling agents should request full disclosures, confirm in writing, and do the AVID, home inspection, and home warranty.

He also addressed some questions that are frequently asked:

What if there is an error on the other agents disclosure form?

• Ask yourself this: is it an error in style or error in fact?
  • If it is an error in style then you do nothing.
  • If it is an error in fact then you document the error and correct the problem.

A sellers cover-up?

• Ask yourself was it done for maintenance or fraud?
  • If it was done for maintenance then you do not need to disclose it.  ex. you walk into a house and you notice come very small minor cracks on the wall.  the next time you are in the house you notice something different.  You ask the client and they say they painted all the walls.  As long as they are doing maintenance to the house for the sell then it does not need to be disclosed.
  • If it is fraud then you need to say something.  Ex. What if there is a huge crack on the patio and when you go to the house for the second time there is now Astroturf covering the patio.  This is fraud.  The person who buys the house will most likely pull up the Astroturf and then will discover the huge crack.

Do you have to disclose pet burials?

• Does not make a difference if you disclose it or not. 

One last thing. To help you stay out of court make notes of all your conversations and save all emails.  Many times after we show a house to a client we stand outside and have a conversation with the client.  As soon as you get back to your office make notes of your conversation or email the client in regards to your conversation.  Everyone remembers a conversation differently and if you have back up of it then you will be one step ahead of the client.