We have had four straight months of Record Short Sale closings in Arizona, 62% of all Pending sales are now distressed and the days on market have gone from 157 days, to 130for short sale closings.
Our Lender partners, Wells Fargo, Bank of America and GMAC have all improved dramatically on their Short Sale process, communication and making quicker decisions. We are going through some transition, with all Lenders no longer postponing as many trustee Sales and in turn sending the extended pipeline properties to foreclosure to get them pushed through.
There is ONE more big thing, that needs to happen to really help all of us to push through the Distressed Property challenge that faces Arizona, we need to engage our very BEST Real Estate Practitioner’s, the very best REALTORS in the state, in the process. I can tell you as someone who closes over 1500 transactions a month in our state, it is clear the Lenders that have used our assistance to put the best REALTORS in our state into both their Short Sale and REO programs, have clearly had more closings, with less hassles and in the end the Consumer and the Lender is the big winner!!!!
The key to getting a better result, for the Consumer, the Bank and in turn our Real Estate Market is getting the right Realtor, our stats show this fact clearly, feel free to reach out to me, if you want access into our Distressed Property Division, which highlights our very best Realtor Partners.
Steve de Laveaga
Senior Vice President of Sales and Marketing
Fidelity Natioanl Title Maricopa County
steve.delaveaga@fnf.com
480-214-4500
Monday, October 18, 2010
Monday, October 11, 2010
Make More on the Listings You Don’t Take Than the Ones You Do!
What does that mean? And why is the concept of making money on the listings you don't take even possible?
As discussed in the "Thriving in a Down Market" event we sponsored on October, 5th, it was discussed why doing a seller consultation before taking the listing will actually make you more money than just taking and working as many listings as you can. The reason is Time is money. Here are some suggestions on how to ensure your seller is "ready for business":
1. Talk to you seller to make sure they have all the right paper work together.
2. Make sure the paperwork is complete
3. Make sure the seller has met with an attorney,
4. Qualifying the seller, is there a hardship?
5. Not taking a listing 45-60 days before foreclosure.
6. What type of loan does the seller have?
7. Who is the lender?
8. Are they considering bankruptcy?
9. Is there Mortgage Insurance?
10. Will the seller have any money to contribute to closing?
Jean Clements
Marketing Director Fidelity National Title
jean.clements@fnf.com
As discussed in the "Thriving in a Down Market" event we sponsored on October, 5th, it was discussed why doing a seller consultation before taking the listing will actually make you more money than just taking and working as many listings as you can. The reason is Time is money. Here are some suggestions on how to ensure your seller is "ready for business":
1. Talk to you seller to make sure they have all the right paper work together.
2. Make sure the paperwork is complete
3. Make sure the seller has met with an attorney,
4. Qualifying the seller, is there a hardship?
5. Not taking a listing 45-60 days before foreclosure.
6. What type of loan does the seller have?
7. Who is the lender?
8. Are they considering bankruptcy?
9. Is there Mortgage Insurance?
10. Will the seller have any money to contribute to closing?
Jean Clements
Marketing Director Fidelity National Title
jean.clements@fnf.com
Wednesday, September 22, 2010
Subject Ideas for Social Media and Email Campaigns
Day 0- Set expectations of what what you will be sending and communicating. Call it "Fidelity Finds" for example.
Day 3- Consumption. “Did you check out my point 3?” Make sure they are reading email.
Day 7- New Content- Maybe a video, subtle tone, "Folks found this cool…If you’re interested in…"
Day 10- Consumption- Cause and Effect. Did you see what happened in the industry..when blank happened?
Day 13- Building social proof. Testimonials, wisdom of crowds. Hey I got an email from Joe, Bob and Sue who jumped on this idea. I would love to help you out too. Email me with your burning question.
Day 17- Push social feedback
Day 21- These questions are objection crushers. All the reports say you should not buy or sell now, so should I? Phrase it in question format.
Weekly posts after that.
Michelle Manning
480-518-7005
michelle.manning@fnf.com
www.michellemanningfnt.com
Day 3- Consumption. “Did you check out my point 3?” Make sure they are reading email.
Day 7- New Content- Maybe a video, subtle tone, "Folks found this cool…If you’re interested in…"
Day 10- Consumption- Cause and Effect. Did you see what happened in the industry..when blank happened?
Day 13- Building social proof. Testimonials, wisdom of crowds. Hey I got an email from Joe, Bob and Sue who jumped on this idea. I would love to help you out too. Email me with your burning question.
Day 17- Push social feedback
Day 21- These questions are objection crushers. All the reports say you should not buy or sell now, so should I? Phrase it in question format.
Weekly posts after that.
Michelle Manning
480-518-7005
michelle.manning@fnf.com
www.michellemanningfnt.com
Monday, September 13, 2010
Tips for Homeowners Facing Foreclosure
1. How do I find out if I qualify for a loan modification? go to www.makinghomeaffordable.gove. Follow the instructions to pre-qualify for a loan modification, which will take you to your lender's website where you can complete the necessary forms.
2. What are my options if Loan Modification does not work? Contact your lender from your mortgage statement and ask them to explain your options.
3. Research, Research, Research. Any major life decision needs to be taken seriously. Do your homework, talk to referrals and talk to several experts.
4.Avoid programs that are questionable. If something sounds too good to be true, it probably is.
5. Contact a skilled tax preparer to look into the tax consequences of a short sale versus foreclosure. Everyone's scenario is different, so make sure to talk to a tax specialist that knows the laws and is best equipped to assess your situation.
6. If you are seriously considering bankruptcy la, the requirements have tightened in recent years and consulting an attorney that knows bankruptcy law is important for you to consult.
7.Once you have followed these steps, you may find that selling your home in a short sale, where your lender approves a sale of your home for less than the debt, is your best alternative for you and your family.
8. Finding the right agent, with the necessary short sale skill sets, training and most importantly the right moral compass is the key to the success of the short sale.
9. Think of this as a marathon. You need good training to get to the finish line. Take care of yourself, eat well, sleep, pace yourself so you don't lose energy.
10. Don't let time run out! Reach out for help before it is too late! The earlier you get into the process before you miss payments that you seek help, the easier the decision making process will be for you.
A special thanks to Gayle Henderson! For her 10 Short Sale Tips and for her partnership.
Gayle Henderson, CDPE
RE/MAX Excalibur Realty
8510 E. Shea Blvd, Suite 100
Scottsdale, AZ 85260
Business: 602.850.4335
Fax: 480.355.3505
Toll Free: 1.888.233.0682
Office: 480-355-3500
E-Mail: gayle@azmovingplan.com
www.azmovingplan.com
2. What are my options if Loan Modification does not work? Contact your lender from your mortgage statement and ask them to explain your options.
3. Research, Research, Research. Any major life decision needs to be taken seriously. Do your homework, talk to referrals and talk to several experts.
4.Avoid programs that are questionable. If something sounds too good to be true, it probably is.
5. Contact a skilled tax preparer to look into the tax consequences of a short sale versus foreclosure. Everyone's scenario is different, so make sure to talk to a tax specialist that knows the laws and is best equipped to assess your situation.
6. If you are seriously considering bankruptcy la, the requirements have tightened in recent years and consulting an attorney that knows bankruptcy law is important for you to consult.
7.Once you have followed these steps, you may find that selling your home in a short sale, where your lender approves a sale of your home for less than the debt, is your best alternative for you and your family.
8. Finding the right agent, with the necessary short sale skill sets, training and most importantly the right moral compass is the key to the success of the short sale.
9. Think of this as a marathon. You need good training to get to the finish line. Take care of yourself, eat well, sleep, pace yourself so you don't lose energy.
10. Don't let time run out! Reach out for help before it is too late! The earlier you get into the process before you miss payments that you seek help, the easier the decision making process will be for you.
A special thanks to Gayle Henderson! For her 10 Short Sale Tips and for her partnership.
Gayle Henderson, CDPE
RE/MAX Excalibur Realty
8510 E. Shea Blvd, Suite 100
Scottsdale, AZ 85260
Business: 602.850.4335
Fax: 480.355.3505
Toll Free: 1.888.233.0682
Office: 480-355-3500
E-Mail: gayle@azmovingplan.com
www.azmovingplan.com
Monday, June 21, 2010
Wednesday, May 26, 2010
Short Sale Marketing Tips!
Don't Miss Fidelity's Big Mouth Blog from the CDPE National Convention!
http://www.fidelitybigmouth.blogspot.com/
http://www.fidelitybigmouth.blogspot.com/
Friday, May 7, 2010
Short Sale Success Forum - “Best Practices & Marketing” with Guest Speaker Brett Tanner, Keller Williams Lifestyle Realty, was in fact a huge success!
It was standing room only as realtors from all corners of the valley came to the Home Design + Idea Center in North Scottsdale. The strong turn-out of 150 realtors indicates the need for education, information and interest in short sales and its longevity in real estate. As well, there isn’t another single realtor in the state doing business on the level of Brett Tanner and The Brett Tanner Team. They’ve taken over 300 short sale listings, as of this writing he has over 160 open listings and has closed over 150.
Brett Tanner discussed in detail how to structure your short sale business by breaking down infrastructure, marketing, goals and selling tactics into scalable “chunks”.
“If you want 10 or fewer listings next month, here’s what to do …”, “10-20 listings, here’s what to do …” His detail on what to spend, what to say, mailing and marketing was organized and structured and PLANNED.
Additionally, his insight on infrastructure and the specialization of each person on his team, “laser focused roles … a buyer’s agent on my team will never take a listing…”
Brett recommended that the best way to blow up your short sale business is by door knocking. It’s the most economic and results driven marketing tactic if you’re starting or a singular agent. Brett broke it down; his results averaged a minimum goal of targeting 40 doors to get a new listing. (Taking into consideration how many people you’ll actually get to speak with etc.)
Brett’s philosophy today hasn’t changed from when he first started with just him and one other agent. Every month he picks a number, A GOAL. He now manages a team of 20 and needs 4-5 buyers agents because they literally cannot keep up with the leads. A Goal. A real number. Write it down – which he made everyone do. Brett recalled setting a goal of 10 new listing not long ago and it seemed unfathomable – his team took down 41 listings in March. They’re doing something right.
Throughout his presentation he continually emphasized the importance of partnerships and his closing remarks summarized how his success is contributable to his partners (Academy Mortgage, Fidelity National Title and Vineyard Property Preservation). “A loan, rehab and title/escrow are part of almost 100% of transactions, work with people who do more than just that, work with partners that help you grow your business.”
Written by Bernadette Espinosa, Fidelity National Title, www.BernadetteEspinosaFNT.com or bernadette.espinosa@fnf.com
Brett Tanner discussed in detail how to structure your short sale business by breaking down infrastructure, marketing, goals and selling tactics into scalable “chunks”.
“If you want 10 or fewer listings next month, here’s what to do …”, “10-20 listings, here’s what to do …” His detail on what to spend, what to say, mailing and marketing was organized and structured and PLANNED.
Additionally, his insight on infrastructure and the specialization of each person on his team, “laser focused roles … a buyer’s agent on my team will never take a listing…”
Brett recommended that the best way to blow up your short sale business is by door knocking. It’s the most economic and results driven marketing tactic if you’re starting or a singular agent. Brett broke it down; his results averaged a minimum goal of targeting 40 doors to get a new listing. (Taking into consideration how many people you’ll actually get to speak with etc.)
Brett’s philosophy today hasn’t changed from when he first started with just him and one other agent. Every month he picks a number, A GOAL. He now manages a team of 20 and needs 4-5 buyers agents because they literally cannot keep up with the leads. A Goal. A real number. Write it down – which he made everyone do. Brett recalled setting a goal of 10 new listing not long ago and it seemed unfathomable – his team took down 41 listings in March. They’re doing something right.
Throughout his presentation he continually emphasized the importance of partnerships and his closing remarks summarized how his success is contributable to his partners (Academy Mortgage, Fidelity National Title and Vineyard Property Preservation). “A loan, rehab and title/escrow are part of almost 100% of transactions, work with people who do more than just that, work with partners that help you grow your business.”
Written by Bernadette Espinosa, Fidelity National Title, www.BernadetteEspinosaFNT.com or bernadette.espinosa@fnf.com
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