HouseHunt Network

A Blog for Real Estate Agents

Month: March 2012 (Page 1 of 3)

Obama’s Mortgage Plan Divides, But Can it Conquer?

By Jim Droz

President Obama recently introduced a mortgage refinance plan in an attempt to shake things loose in a housing market showing signs of recovery. But as is typical with politics these days, the only thing he shook up was rhetoric and posturing.

California Democratic Congresswoman Zoe Lofgren says some ideas are “quite good,” but “unfortunately a large portion of it would require legislation, and we have seen that the Republicans … are unwilling to pass legislation.”

Countered California Republican Congressman John Campbell: “Like many things that are happening right now, particularly from the president, this is a campaign-oriented proposal and not something that is intended to actually ever become law.”

So can it become law? Should it? Are any of the proposals worth giving a chance, or are the problems too deep, cumbersome and volatile?

According to a White House press release, some of the plan’s key proposals include:

Broad-based refinancing to help responsible borrowers: The plan would provide borrowers who are current on their payments with an opportunity to refinance, cut through the red tape and perhaps save up to $3,000 a year. Sometimes homeowners with good credit and clean payment histories have reported being rejected because their mortgages are underwater.

Homeowner Bill of Rights: This would be a single set of standards to make sure borrowers and lenders play by the same rules, including access to a simple mortgage disclosure form, full disclosure of fees and penalties, guidelines to prevent conflicts of interest and protection for families against inappropriate foreclosure.

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Rise Above the Competition by Standing Out From the Crowd

By Jim Droz

Expecting buyers or sellers to use your services simply because you’re available won’t cut it these days. Real estate agents need to cultivate leads and be creative to attract new business. A little ray of hope and a slight nudge are incredibly powerful tools.

Say you have a buyer and have narrowed his or her neighborhood choices to a manageable size. As a way to drum up transactions, send postcards into the targeted area saying that you have a buyer who wants to purchase in the neighborhood. This could flesh out people with a desire to sell their home but who haven’t tried because of the recent negative news. By approaching these homeowners with a ray of hope – a potential buyer – you can generate listing opportunities with a nudge that builds seller interest.

You can also manufacture business every time you take a new listing. Once you have the listing, determine the neighborhoods where homeowners might view the listing as a good move-up property. Usually this is in neighborhoods priced a level below the value of your new listing. Target these potential buyers with a letter stating that you have an opportunity for the recipient to move up to a more prestigious neighborhood or one that would be a better fit for their lifestyle. The power of suggestion is a great tool and often encourages people to act on an unfulfilled wish.

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Skill Tops Luck When it Comes to Sales

By Jim Droz

You’ve probably heard someone say, “I’d rather be lucky than good.” Hopefully they were gambling at the time and not on a real estate call.

While you can make your own luck by being in the right place at the time, nothing replaces being good at your job. Your client pipeline and income is a direct result of your efforts in the field, so if you focus on attaining your goals by repeatedly putting your tested system to use, that vision is more likely to occur.

Florida agent Will Landay, said his office is getting “slammed” with activity in early 2012, relies on residual loyalty to keep his pipeline stocked. He said the majority of his business comes from

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North Carolina Agent Says HouseHunt System Effective and Easy to Use

By Jim Droz

Meg Russell is sold on HouseHunt because the system sells itself. That literal scenario happened twice in recent weeks for Russell, who has territories in Morrisville and Wake Forest, N.C.

“The beauty of your marketing materials is that using them really does create a relationship with the client,” said Russell, who had two transactions in early 2012 with clients who called her without any personal prompting.

“They were just seeing my stuff that was coming from HouseHunt,” she said. “I didn’t have to do a thing. Because every piece of contact looks like it’s coming from me … it basically puts my relationship with prospects on autopilot so I can work with active clients who are in town and ready to buy.”

Russell personalizes her HouseHunt marketing strategy with an action plan that allows people to get pertinent listings daily and another form of contact – such as an e-mail, newsletter, household tip or recipe – at least once a week.

“By the time they call me, they feel that we already have a relationship; they feel like they know me. I think that’s the secret with HouseHunt. If you’re using the marketing tools correctly and effectively, then you’re able to use your time out in the field with a particular set of clients and, in the meantime, hundreds of other clients are feeling that a relationship is forming, and when they’re ready to call you, they do.” –Meg Russell, HouseHunt agent in North Carolina

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Importance of Prospecting

By Jim Droz

It’s tough to be positive when most headlines – no matter the medium – seem to focus on the negative. That sells newspapers and gets viewers to tune in, but negativity doesn’t sell houses. If you’re like many people, however, you likely dwell on what isn’t happening in your business rather than what could or should be happening.

Times are tough, no doubt about it. The good news, such as low interest rates, is offset by the bad, such as foreclosures and tougher lending standards. The business is out there; you just have to find it, work hard and give the client the best customer service possible.

When it comes to prospecting, visualize yourself attracting clients to your services. Are your lead-generating strategies proactive or reactive? The latter is important because you need to respond to leads quickly and effectively but it’s only half the battle. A proactive strategy combines good communication skills with networking, referrals and utilizing all forms of technology. This puts you in control of your leads – and your career.

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