From the monthly archives:

May 2008

Great Question From A Student…..

by Tim Harris on May 29, 2008

Sherry DeJong asked:

“On a short sale, will the bank go after the seller for the retirement account?”

Answer:

Short Answer, almost never.  Retirement accounts are a protected asset class.  At least not until you start withdrawing from those accounts. Once it gets withdrawn, of course, the money you withdraw is ordinary income.  They can’t get at the retirement account. Also, did you know that you can put investment properties into retirement accounts? So, if someones retirement plans includes a few rentals and they are now having to do a short sale its probably smart to move those units into the safe retirement accounts.

Great Question!

Tim

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Where is the opportunity in this market?

Clearly, knowing how to help the millions and millions of homeowners who desperately need the help of  a HREU Certified Short Sale Expert.

Here is the report…

Standard and Poor’s / Case Schiller Housing Prices Index has declined in February, with 17 out of the 20 cities polled posting record low annual declines, according to the latest report by the private institute.

The 20 city composite has posted a 12.7% decline in February, following a 10.7% fall in January. While the 10 city index posted a record low 13.6% decline.

Las Vegas and Miami have posted the largest declines -22.8% and -21.7%, respectively, casually, both cities recorded the largest price increases in the 2004/2005 period with rates peaking above +50% and +30% respectively.

Have you downloaded your Free 7 Part Agent Short Sale Secrets E-Course Yet?…If not, do so NOW. 

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Harris Real Estate University Mission

by Tim Harris on May 27, 2008

[click to continue...]

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NAR Settles DOJ Antitrust Suit…

by Tim Harris on May 27, 2008

Online real estate brokers now have the playing field leveled…

The Justice Department gave online real estate brokers a boost Tuesday by forcing the NAR to open access to the MLS.

The National Association of Realtors could no longer discriminate against Internet-based agents by blocking them from the MLS.

Online agents often charge lower fees and allow consumers and/ or give legal kick backs to buyers. In the previous real estate boom it wasn’t unusual to see a internet broker advertising up to 2% back to the buyer at closing for using their service. On the listing side its common that internet based brokers will list homes for a flat fee vs the traditional commission.

How do they do this and afford to stay in business? Dramatically lower over head. Also, consumers desire to get the reduced sales fees or cash back at closing.

“When there is unfettered competition from brokers with innovative and efficient approaches to the residential real estate market, consumers are likely to receive better services and pay lower commission rates,” said Deborah A. Garza, deputy assistant attorney general for the Justice Department’s antitrust division.

“Today I can say with the clear knowledge — reinforced and underscored by DOJ’s settlement compromise — that the real estate industry is dynamic, entrepreneurial and fiercely competitive,” NAR President Richard F. Gaylord said in a statement. “Thanks to Realtors, consumers can access detailed information about millions of properties for sale across the country.”

The Justice Department and Federal Trade Commission released a report last year that said limits on discount brokers’ access to Web listings of for-sale properties has prevented consumers from receiving the cost savings and other benefits that online competition has brought to other industries.

What does all of this mean to you?

You tell us…what do you think about all of this…how will this effect your business…your market?

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Thats Right…We Are Doing It Again!

by Tim Harris on May 27, 2008

It all happens tomorrow…the F- r- e -e Agent Short Sale Secrets Teleconference.

Again, that’s tomorrow Wednesday 05/28/08 at 12:00pm PST/ 3:00 EST/ 1:00 MT/ 2:00 CENT.

Now, go to this link now for all the call-in info:

http://instantteleseminar.com/?eventid=2930034

You may recall that this event completely filled up a couple weeks ago. If you were shut out of that call this is your opportunity to learn what you missed.

When you attend the call tomorrow we will interview 2 agents who have created
huge businesses from  short sales….you will meet..

John Brady. John was interviewed by Fox News, HGTV, ABC World News and is featured in The New York Post. He will double his sales this year over last from knowing how to create a short sale business.

Dan Grieb. Dan was recently featured in his state’s Realtor Association monthly magazine. He has become one of the top agents in his area because he has created a short sale business.

NOW, click here for the call in info:

http://instantteleseminar.com/?eventid=2930034

On this call you will learn exactly how to:

  •     Avoid the 5 biggest mistakes agents make when doing short sales.
  •     How to easily find and list tons of short sale listings.
  •     How to get the lenders to accept your short sale offers the first time.
  •     5 closely guarded secrets to get your short sales accepted and closed in less than 30 days (and earn full commission)

    This is going to be an amazing event..get ready to take pages of great notes.

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    Are You Being Taught To Lie?

    by Tim Harris on May 27, 2008

    Every now and then Harris Real Estate University offers Free Coaching Calls……..30 minutes with an HREU coach free, no strings attached.

    But, the other day I was providing a Free Coaching Call for an agent and…MAN, was I in trouble….

    The Realtor on the other end of the phone was clearly very very upset with me. Scratch that…she was PISSED.

    And, I knew why. This wasn’t the first call or email I had received like this one.

    She asked me…”Why are you so negative…why is it that YOU and HREU are saying one thing about the market when all the other GURUs..she mentioned 3-4 of them…are saying another?”

    I asked her what she was hearing from the other real estate educators (I am not fan of being called a GURU but, thats another post all together).

    She told me they were teaching agents to use scripts like:

    “This is a great time to buy….”, “Its a buyers market”, ‘Its a great time to sell”, “The market is at the bottom”…and my favorite….”Better buy now before the prices start going back up again and you are shut out”.

    I have to be 100% honest with you about this….I hate scripts like that because…they are mostly lies.

    So, I asked her….(leaving her real name from this post)…

    “Mary, are YOU buying real estate now….are YOU selling now to take advantage of this supposed ‘Buyers Market’ ?”

    She paused for a bit and then told me in a very clear voice….”NO”

    So, being a coach who thinks in terms of questions I asked her….”Why not…why aren’t YOU buying or selling now…..aren’t YOU afraid of being shut out?”

    “Because I think prices will continue to fall for at least another 2 years and then stay flat for at least 2 years after that….” She then told me.

    ‘Mary’ then went on to tell me how her own home was upside down by over $100k and she couldn’t move if she wanted to.

    By this time ‘Mary’ and I were having a nice, polite conversation. She was calmed down and I could sense that she was starting to see the light….so I asked her…

    “‘Mary’, if YOU believe that now is not the time to be in the market (unless you HAVE-TO) why would you tell others to be?….I mean…don’t you think that is a lie”

    She thought for a bit and then told me that she understood and “YES”..telling others to do something that she personally thought was a bad idea was indeed a lie. She then asked me something that I didn’t really know how to answer….she asked me something that left me a little speechless…

    She asked me…”If the market is clearly is still depreciating and will be doing so for some time to come…if pretty much anyone with a brain can see thats what is going on…why would these other Gurus (there is that word again) tell me to use scripts that are in essence….lies?”

    I didn’t know how to answer her then and 3 days after that phone call….I still don’t.

    So, I am asking for your help. You tell me why you think so many other ‘Gurus’ and ‘Real Estate Experts’ are teaching agents to use scripts that are so clearly wrought in deceit.

    You see, from our perspective thats not only wrong its also a little evil. Why would you as a ‘Guru’ or ‘Expert’ use your virtual stage to spout scripts, techniques that you know to be at best half truths?

    We are like you..we make our living from the real estate industry. We know what you are dealing with day in and day out because we are in this market too. ALL of us have to be focusing on helping people…elevating people…not tearing them down. Not lying.

    You know this already: this is the worst real estate market in history. This is a very negative experience for millions and millions of home owners. People are losing their homes, their wealth and in some cases their lives. Yes, people are literally committing suicide because of this housing crisis. One of our students emailed us an article about the ‘Suicide Prevention Hotlines’ and that the number one cause for someone considering actually killing themselves…..’Losing their home’.

    HREU has almost 10,000 agents involved in a University program every day. From the Free Daily Motivational Coaching Call to being enrolled as a student. Its our purpose to make sure every one of you are 100% prepared for how to help people in this market.

    All of us are in the position to help people at a higher level than ever before. There has never been, never will be a time when so many people are in so much need of agents.

    They are in need of agents who are truly there to help people make the right decisions.

    We need to understand that this is NOT A NUMBERS BUSINESS. This is a people helping business. When you help enough people at the highest level the money always follows…matter of fact the money will chase YOU opposed to you having to chase the money.

    Note: Promise yourself that the next time ANYONE tells you that this is a ‘Numbers Business’ you will run the other way. THAT mindset is partially responsible for what has led us to this real estate meltdown. That mindset is about greed, ego and deceit. Here is a fun thought for you..maybe the reason Realtors are seen as one of the least respected professions is because of the teachings of these gurus..its time for a change. You know this. The real question is…are you willing to accept the need to change with the times?

    We need to learn what it takes to help people with this market. Learn short sales, learn how to price, learn how to work with sellers and buyers who are scared and who must sell.

    Stop listening to anyone who tells you to say or do anything that will not result in doing what you KNOW is right.

    This is your time, if you choose it to be……Its going to require that you re-do your thinking. If you are an agent who has been trained to think of someone as a contact vs a relationship chances are you are now struggling. You don’t have to. Start by asking yourself these 3 simple questions:

    1) Why did you get into real estate? (help people, have more time with your family, have control over your destiny…etc)

    2) Are you afraid to tell sellers and buyers what you know to be the truth because it will cost you a sale? (the fact is that there are zillions of people who have to sell now…you need to learn how to find them)

    3) Last question…if you no longer need the money from real estate sales…someone leaves you $10,000,000 and you no longer have to work for money….what would you do? Would you remain in the real estate business…..or would you quit and do something else? (In other words, are you in this business strictly for the money?)

    Lets get this conversation going…let me know what you think.

    In the meantime, if you haven’t done so yet download your Free 7 Part Agent Short Sale Secrets E-Course now.

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    HREU Students and Future Students….further evidence that the housing markets will be down for some time to come. (Remember, those of you who know how to do short sales..this is good news. )

    If you haven’t enrolled in Agent Short Sale Secrets yet…what the heck are you waiting for? Knowing how to build a short sale business…not just how to do short sales…is THE opportunity in this market.

    Here are the comments from Fannie Mae….

    The chief executive of Fannie Mae said on Tuesday that he expects no real recovery for the U.S. housing market before 2010.

    “We are going to have a period where we move through the trough,” Daniel Mudd, Fannie Mae’s chief executive officer.

    This year “is going to be tough” and next year “will be similar,” Mudd told the Society of American Business Editors and Writers.

    “You will start to see some recovery in (2010),” he said.

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    You Didn’t Forget About This…Did You?

    by Tim Harris on May 22, 2008

    Hello,

    You may of missed the live teleconference event but, you can listen to the replay now.

    You will definitely want to listen to what these 2 top HREU students have to say….. top HREU Short Sale Students……

    Tamara Ludlam. Tamara who was completely new to doing short sales just a few months ago has now become her markets short sale expert. Tamara will talk about her team, her motivation and what is truly motivating her to be a Super Star.

    Eric Reid. Eric’s approach to real estate and why he decided to focus on short sales is something you will not want to miss. He has fully embraced the idea of creating a ’short sale business’ vs just being another agent who claims to ‘ do short sales.’

    Remember, this event is no charge to you.

    Now, for all the call in and webinar info CLICK HERE NOW.

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    Thanks For Thanking Us!

    by Tim Harris on May 16, 2008

    Hi Tim,

    Just wanted to send a note of thanks to you, Julie and Harris Real Estate University for your valued expertise, education, and guidance. My wife & I are looking forward to working and growing our short sale business with you in the coming weeks and months. Perhaps one day, we will be one of your newest success stories and guest speakers… ;-)

    Although we just joined the Harris Short Sale Secrets coaching program this week, I feel that we’ve known ya’ll for a while. We have been receiving your emails and motivational messages for weeks (if not months) as well as “lurking” on your free calls. I have been a licensed Realtor for over 10 years in my market and my wife is celebrating completion of her first year as a Realtor this Summer (she’s been my office assistant for the past 5 years).

    P.S. I peronally know Eric Reid who is one of your other students (he used to be an agent in our Duluth KWR office). He had great things to say about you and your organization.

    Warm regards,

    TED & VICKI SHOOP - Realtors
    The Shoop Realty Team
    Keller Williams Realty Atlanta Partners
    Office: 678-775-2657
    Web site: http://MyGeorgiaHomes.com

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    You Asked For It! (Free)

    by Tim Harris on May 15, 2008

    WOW, One Of Our Best Superstar Interviews Ever.

    You will definitely want to listen to this free replay of todays Superstar Interview.

    REPLAY INFO: CLICK HERE NOW.

    We interviewed 2 of our top Agent Short Sale Secrets Students.

    Nick Roshdieh. Nick is featured in this months Money Magazine and ABC World News. Nick has built a truly impressive short sale business. He has over 50 listings and this month alone he is closing over $5,000,000 in sales from short sales.

    John Brady. John has become a TV star for what he has learned as a student of Agent Short Sale Secrets. Just THIS MONTH he has been on Fox News, Financial Times and is talking with HGTV about being featured in an upcoming show.

    Remember, listening to this replay is no charge to you.

    Now, listen to the replay: CLICK HERE NOW.

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