Getting a client ready to stage their home is a lot of work. First you have to help them see the advantage of staging their home. Then you have to help them plan to stage their home.

In order to help a client see the advantage of staging their home, the Realtor® needs to have a plan themselves. Create a notebook that has before and after pictures in it of homes that you have staged or have seen staged. Having something visual always gets the creative juices flowing. Beside the pictures you can also have the price that the seller was able to sell the home. This can be a major influence for the seller to be on board for the staging.

The planning part will come naturally after they have seen the possibilities of staging. Take the seller from room to room with a notebook in hand. Make a list of all the rooms, itemized the furniture and accessories in the room. Then start minimizing what is in each area. Less is more now days. And when there is less clutter the buyer sees the house for what is it and what it can become.

Now let’s get to the nitty gritty of staging. The effort that you the Realtor® express to your seller will pay big dividends at the time of the sell. Your seller will have to get down and get dirty sometimes but they will thank you in the end.

So let’s look at your steps of staging.

More…

As all Realtors® know listing a property and getting it noticed has seen different venues of advertising. Long ago it was the newspaper and still is a viable way of listing properties. Then came the real estate magazines with eye appealing photos and very efficient captions. The next step was the internet with the many MLS sites that represent cities in different areas of the USA. We have now gone to the next step which is text messaging and the use of the IPod.

In the Realtor Online, Mike Antoniack does a great job is breaking down all the possibilities that a Realtor® has at their fingertips for keeping the prospective buyer up to date on properties that they are interested at possibly purchasing. More…

Tonight was the conference call with Ralph Roberts about how important Virtual Assistants are to the Real Estate World.  Ralph may not have been there in person but he was well represented by Lois, his right hand woman, and Kandra, his invisible right hand woman.  These two woman did a superb job of showing how important we Virtual Assistants are in bringing our business knowledge along side Real Estate Agents.  We have skill sets and knowledge that the majority of us bring to the table from the corporate world.

Real Estate Agents are trying to do it all and really what is the purpose in doing that?  Why not concentrate on meeting your clients and let us, your Virtual Professional, take on the email organizing, updating your calendar, responding to inquires and put them on lead management for you, send out closing gifts to clients and even remember that important birthday.

 Virtual Professionals are in the business in helping the Real Estate Agent build their business.

Virtual Professionals can work on details while you, the Real Estate Agent, work on the BIG PICTURE.

If you are a Real Estate Agent and want to increase your client base, profit and time to do what ever you want…….YOU need a Real Estate Virtual Assistant. 

Melissa Dougherty
Patriot Professionals
Melissa@PatriotProfessionals.com
www.PatriotProfessionals.com

Being born Scotch-Irish and marrying in to an Irish family, St. Patrick’s Day is really a great day of celebration. I love the parades, the food and wearing the GREEN! So for those of you who are not part of the largest ethnic group in the USA, just pretend you are and enjoy the day. Try a few Irish recipes of cabbage, potatoes and beef. AND wear the GREEN.

If you are a Realtor® take this time to put the Green into your wardrobe and your showings. You can give each person on St. Patrick’s Day a green clover pin or green beads, just to make the day festive for you and your home buyers.

Believe me, when you take advantage of holidays that are celebrated through out the year and carry it over into your Real Estate Business, YOU will be remembered. You will be remembered as a jovial person and probably the most thoughtful person for making others feel happy just celebrating!

So to all Realtor® and Real Estate Virtual Assistants you support them, and Irish Blessing;

May you be blessed with
warmth in your home,
love in your heart,
peace in your soul
and joy in your life.

Patriot Professionals
Melissa Dougherty
www.PatriotProfessionals.com
Melissa@PatriotProfessionals.com

Yesterday it was announced that a major sub-prime lender, New Century, is no longer going to be on the stock market ticker tape. That has the bond market and stock market scratching their heads as to where and what now. How does that effect the home buying industry? Well, in an article in the research market of Realtor® Magazine Online, this very thing was covered. Very interesting reading and information. It seems this is going to be a very good year. BUT each Realtor® must take each of their own areas into consideration as to rates, how homes are selling and new industry coming into your realm. More…

In the series “Real Estate Agents:  The Primary Source of Information on Home Purchase”, we have discussed Residential, Employment and Credit Histories.  We also looked at how Assets play into your clients’ ability to achieving a mortgage.  Now, in this last part we are going to look at some miscellaneous items that your home buyer may need to have on hand or know about.  This information will make you appear like a well rounded Realtor®  And in anyone’s book that is definitely a plus. 

• Holding Title to Real Estate

A husband and wife can both hold title to real estate.  But on some particular loans only one or the other may be on the title.  Title and Deed are two different animals.  On the Deed both husband and wife MUST be on the deed and attend the closing.  Of course, in extenuating circumstance, “Power of Attorney” may have to be obtained if one person of the couple can not attend the closing. 

     Individuals can hold title to real estate and well as Non-Occupant      Co-Borrowers.  This situation is when the co-borrower, who is funding the monies for the purchase of the home, does not live in the home purchased.  The borrower is the resident.  This is not as an unusual situation as you may think. 

     Also Aliens who have a Green Card or Work Visa can obtain a mortgage.  There are other requirements,  so these individuals would need to talk to a lender specifically about their situation. 

• Paying Down Debts

In some cases, your home buyer will be able to pay down debts at closing.  The money at the closing will be in the hands of the lawyer and they will cut checks to be sent to he debts that need to be paid off. 

• Purchase Issues

Also at closing there may be Special Purchase Agreement Issues, such as: 

• Maximum Seller contribution = 3%
• Allowances - Carpet, Paint, Adding a fence, etc.

          These items should probably be taken care of outside of the closing. 

• Certified Funds Required For Closing

Let your home buyer know that they will need to bring to closing certified funds.  Certified funds are usually a cashier’s check from the home buyers banking institution.  The buyer can find out what this amount is the day of closing from the closing lawyer’s office. 

Now we have just covered the tip of the iceberg.  But for you as a Realtor®, this information can be very soothing and eye opening for your home buyer.  For you to have this information will help to add to your Real Estate Portfolio and make you look more like an expert in the Real Estate field.

In the February 26,2007 issue of Realtor® Magazine Online this article appeared: 

Affluent Buyers Want Privacy 

As the article progresses, it talks about new money, not inherited money and how it is influencing the purchase of real estate.  The article also talks about what these affluent clients require from their real estate professionals; 

ConfidentialityAffluent Clients Want to Be Discreet

…“Other necessary skills for real estate professionals working with luxury consumers, according to Coldwell Banker’s survey:

• Customized service, 69 percent
• Ability to work well with executive assistants, CPAs, and attorneys, 44 percent
• Inside scoop on the market, 36 percent
• Ability to provide emotional support, 17 percent
• Personal rapport with clients, 11 percent

Aren’t these “necessary skills” that YOUR home buyer wants from YOU?  How careful are you about your clients’ information over diner?  What is being said in the office or over the phone?Treat your customer and their personal information, no matter what the purchase price of the home, just like you want YOUR information treated.  All it takes in one slip!  One unguarded moment of information talked about and YOUR reputation as a Top Producer could be marred for a long time.So treat your home buyers’ information as your own.  You will build confidence, not only in your home buyers but in those that do business with you on a daily basis.Always be above reproach!

Ok, we have covered  Residential, Employment and Credit Histories.  Isn’t it nice to have some information that will help your home buyers with their questions?  How do you think you will look in their eyes?  What kind of confidence do you think you have built with your buyers on their journey to purchasing real estate from YOU?  I would say you have a long term relationship because you have made an effort to give them some answers that they can walk away with as they are searching for a lender. 

Now let’s move on to the next issue.  Assets.  What are they?  How do we get them?  How do we use them? More…

We have looked at Residential History and Employment/Income History.  The next installment is one of the most asked about and worried about when purchasing a home…..Credit History.  So without further delay let’s just jump right in and tackle it.  Once again some of this is very simple and straight forward but some of the information can be very helpful between you and your home buyer.

• What is a Credit Score?
  A credit score is a quick “snap shot” of any one’s personal credit risk.  This “snap shot” is for any given time.  Your credit score is also accumulative from the time you started using you purchasing power to the present.  It gives the lenders a very fast and objective measurement of what your credit risk is.
•  What is a Good Credit Score to have?
   A good score depends on the criteria of the credit product that you are looking to use.  A lender can advise you on what “range” that you would need.  But as for the scoring organizations, here are their numbers:
            Equifax 300-850
            Transunion 150-934
            Experian 330-830 
• How can I Raise My Credit Score?
  Paying your bills on time might seem easy but it is very important at raising your score over time.  Keep your balances low on your credit cards that have revolving credit.  Don’t apply for or open new credit accounts.  Only do this if you absolutely need to.  And on the other side don’t close unused credit cards.  It’s a funny thing.  By closing an unused credit card you have just eliminated some of your history.  So just leave well enough alone.
• What does a Credit Score Consider?
  Look at the graph below.  Credit is looked at what type, new accounts, length of credit history and the balances that are owed.

• What does a Credit Score Ignore?
  A credit score does not see race, color, religion, national origin, sex or marital status.  It also doesn’t see your age.  Thank goodness!!  Also your salary, occupation, title, employer, date employed or employment history never enters into your score.
  Where you live does not enter into your credit score.  The interest rates that are charged on your credit accounts have no bearing on your credit score.  If you have child support or rental agreements they are not seen.
  When you purchase a car or open an account your credit is only looked at.  This is only seen as proofing your credit.
• How can One make sure that Credit Scores be Accurate?      Order a copy from a credit agency authorized to provide credit reports to consumers.  One free credit report per year is allowed.  You can go to www.myFICO.com for more information.  Also you can contact each Credit Report Agencies directly:

                Equifax:  800-685-1111 or www.equifax.com 
              Experian:  888-397-3742 or www.experian.com 
           TransUnion:  800-888-4213 or www.transunion.com 

• In A Nutshell, What’s Important To Remember      About Credit?   
  1. Mortgage Loans Today Are Evaluated On a Case By Case Basis As a Package
  2. Higher Scores May Be Required For Particular Loan Programs
  3. Credit Reporting Errors Do Occur, and Take Time To Repair
  4. No Credit / No Credit Scores?
  5. Some Loan Programs Allow Alternate Credit Sources (Insurance Payments, Utility Payments, Phone Payments, Personal Loans Made to Uncle Phil)
  6. Get Some Credit!!

    Next time we will be looking Assets. 

    What DO you have that counts?