Realtor Coaching & Training: julie
Million's Of Bank 'Shadow Listings'
Realtors, HREU Coaching students…and future students…..be ready for what is coming next for housing….
1) 7,000,000 bank owned homes will be hitting the markets. (putting that into perspective…there are currently 4,000,000 homes for sale NATIONWIDE!). Best guess, there will be another 3-4,000,000 short sales per year…
2) The ‘First Time Home Buyer Credit’ might not be renewed…
3) It appears that interest rates will rise.
4) FHA lending standards are becoming tougher…
What does all of this mean for you…should you panic….are these changes something to fear?
No WAY! You can be of service to others…you can make a ton of money….once you have the skills that this market demands. YOU CAN DO IT.
Lets look at the facts….
You already know that more than 50% of all home sales in the country will be SHORT SALES and REO’s. If you want to be in business…if you want to make this market about thriving and not just surviving..learn exactly how to become a HREU Certified Short Sale Specialist. 1000’s of fellow Realtors have already earned this designation…isn’t it time for you to do so as well?
Here is a great article from WSJ.com
Last week offered a rude awakening for anyone who assumed the housing bust was over. As existing home sales slumped and home-building stocks sank, Laurie Goodman of Amherst Securities Group came out with a scary pre-Halloween report about the extent of the “shadow” housing inventory—the overhang of likely-to-be-foreclosed homes that have yet to hit the market.
Various pundits have estimated the size of this shadow inventory in the millions. Ms. Goodman put a more specific estimate on it: 7 million homes. That’s well above the 5.1 million annual U.S. sales rate for previously occupied homes, as reported for August.
“We are concerned that, in light of this overhang, the housing market stabilization is temporary, based on seasonal factors, and prices can deteriorate further,” the report concludes.
Of course, there are always some homes destined for foreclosure. But usually the number isn’t enormous. In early 2005, near the peak of the housing bubble, the total was about 1.27 million, Ms. Goodman says.
So how does she get to 7 million now? Ms. Goodman uses data from the Mortgage Bankers Association to estimate there are 55.9 million American homes with mortgage debt. She notes that at the end of the second quarter, an MBA survey found that more than 13% of single-family home mortgages were at least 30 days delinquent or in foreclosure.
Then Ms. Goodman looked at “cure” rates, the percentage of delinquent loans that return to current status. Those cure rates lately have been puny. The report assumes that about 99% of loans that are 90 days or more overdue will result in homes lost to foreclosure. The assumption for those 60 days or more delinquent is that 96% are toast, and for 30 days or more, 72%. All in all, she estimates that 12.4% of the mortgages outstanding as of June 30—representing about 7 million homes—are going to end up changing hands on the courthouse steps.
Realtors, did you read that……7,000,000 homes will become REO Listings. Its NOT too late for you to become a REO listing agent. Watch the FREE Agent REO Secrets video and grab your FREE REO Book.
But what about the Obama administration’s ambitious plans for averting millions of foreclosures through loan modifications? “We don’t think they can help significantly,” the report says. Ms. Goodman believes the vast bulk of loans that get modified will end up in trouble again within a year or so. The basic problem is that so many homeowners owe far more on their homes than they are worth. Trying to catch up on the debt doesn’t make economic sense for many people. (We’ll leave it to others to pronounce on the morality of walking away when you could keep paying. And, no, we aren’t advising anyone to walk away.)
So is the sky falling? Perhaps, but not necessarily. For one thing, even the best analysts can make only a rough estimate of this overhang. For another, we don’t know how fast this inventory will hit the market and whether it can be stretched out over such a long period that it will be easier to absorb. For a variety of reasons, including clogged courts and all those efforts to save homeowners, the timeline for foreclosures is much longer than it used to be. If the economy manages a strong recovery (a very big “if,” of course), housing demand will improve before all these houses go up for sale.
Another possibility is that politicians will come up with yet another bailout for banks and/or borrowers if the foreclosure pain gets too bad. That might result in fewer foreclosures ahead.
In addition, foreclosures aren’t a big problem everywhere. They are largely concentrated in parts of Florida, California, Arizona, Nevada, Michigan and a few other states. Even in Florida, if you live in an appealing neighborhood with good schools and jobs nearby, foreclosure isn’t likely to be a big factor in your home value.
Good point….in the worst hit markets…in the lower end price ranges…its probably safe to say that the prices have hit bottom. But, in the mid to upper ranges…..look out ahead.
That said, consumer confidence probably will remain fragile as long as there are fears of more huge drops in average housing prices, inspiring the kinds of headlines that make most of us feel miserable. Consumer anxiety restrains the entire economy and so is a problem for all of us, though a little caution would have come in handy three or four years ago.
Popularity: 2% [?]
HARRIS REAL ESTATE UNIVERSITY
4th Quarter : BUSINESS PLAN
Rules:
1: Post this completed plan in 3 to 4 public places. Your office door, your refrigerator at home, give a copy to your accountability partner, etc. Tell everyone about your plan.
2: Listen to every HREU Daily Message.
3: Attend all weekly HREU Conference Calls.
4: Read the completed plan 3 times daily.
5: Have 2 – 3 Accountability Partners who are also participating in the 100 Days To Greatness Plan for 4th Quarter 2009.
My Q4 Plan.
Begin on ____________, and end on _____________.
Working IN my Real Estate Business
In order to get where you want to be, you must first know where you are. What are your current numbers?
My current, Year-To-Date Numbers are the following:
So far, from January 1st to today’s date: _____________, I have produced _____ closed transactions. This equals $____________. I have _____ pending transactions, which equals $____________, for a total amount produced so far this year of $______________.
I now have _____ Active Listings. Usually, it takes me _____ price reductions to get one of my listings sold. I also have _____ active buyers, who are committed to me or my team exclusively, and will buy in the next 60 days or less.
_____ of my Active Listings will sell this year. _____ of my buyers will close this year. That means I can account for $___________ more in income.
In my market, _____% of the active listings sell per month, so if I had _____ listings, and _____% sold monthly, I’d have ___ listings sell per month. Each great listing should produce a minimum of one great buyer, so that would also mean _____ buyer sales per month, minimum. Sign up for 1800homehotline.com to get more buyer calls on your listings!
Now that I know my numbers, I can set some goals for the next 100 days…In the next 100 days, I am committed to the following:
I need to list _______ more properties, so I’ll have _____ Active Listings by this date: _____. That’s about _____ listing(s) taken per week. For that to happen, I will work _____ days per week, for a total of _____ work days in this 100 day period.
On work days, I will make _____ contacts daily, or _____ weekly, setting a minimum of _____ appointments per week. Of those appointments, I will list ___ %.
In order to sell my Listings faster, I am committed to reducing each listing every 2 weeks, or 10 showings, whichever comes first.
In the next 90 days, I will have ______ sales, as a result of my work. _____ will be Listings, and _____ will be Buyers. This will be a total of _____ new escrows. That’s $____________ in new, pending commissions!
In other words, My GOAL IS to produce
$__________ in 90 days!
4th Quarter will be my BEST quarter EVER!!
Why am I doing this??!
When I accomplish the above, I will reward myself by:
1: BIG GOALS:
HREU Suggestions: Pay Off Debt/ Donate Money/ Build Your Savings Account/ Trip to Europe / Shopping Spree / New Car / Family Vacation / Something you’ve always wanted to do, see or have. (Don’t forget enrolling in additional HREU Coaching programs!)
Post Pictures of this BIG GOAL on your desk, or someplace you see it EVERY DAY.
a)
b)
c)
2: MINI GOALS:
HREU Suggestions: Mini, daily or weekly goals work to motivate you daily, if not hourly. Suggestions: Taking your spouse or significant other out for ‘date night’ on Saturday night when you’ve accomplished your weekly goals. Hint: tell them about your goals, so they’ll hold you accountable. Other suggestions: buy a new iPhone after a great month, or a day at the Spa, or a 3-day weekend.
a)
b)
c)
HREU Note about Accountability: Many studies have shown that people are either motivated by pleasure or by pain. The old Carrot or Stick Theory of motivation. At HREU, we suggest you motivate yourself in both ways… How? Write a check for at least $1000.00 made payable to your least favorite competing Realtor. Have some fun with this! Date that check for 01/01/2010. Put that check in an envelope addressed to that agent. Give the envelope and check to an accountability partner, with instructions to mail if you do NOT meet your goal. Ideally, the accountability partner exchanges a similar check with YOU. THAT will keep you on track!
More Working IN my business:
This will help me achieve my 90-days to Greatness GOALS. These are the things I need to do, working ON my business, so that working IN my business becomes easier and more productive…
1: MAINTAIN A SCHEDULE.
My Morning Schedule
6am
7am
8am: Listen to HREU Daily Message
9am
10am
11am
12noon
My Afternoon Schedule
1pm
2pm
3pm
4pm
5pm
6pm
7pm
2: ACCOUNTABILITY.
For a high level of Accountability, choose to do the following:
a) Email Summary of HREU Daily Message to Accountability Partners and to yourself.
b) Send your Daily Accountability form to Accountability Partners.
c) Be accountable to your MasterMind Group.
Minimum Standards of Accountability are as follows:
a) Daily Contacts: _____ per day. EXP/FSBO/PCs/COIs/SS/REO
b) _____ Appointments per week.
c) _____ time spent on scripts per day.
d) _____ time spent role playing per day.
e) _____ time spent doing Relentless Lead Follow Up.
3. IMPLEMENTATIONS. (Working ON my business).
I am committed to implementing in the next 90 days: (circle the 2-3 max)
*signing up for courses at HREU to increase my skills. Check out the affordable coaching programs now.
*implementing lead generation daily.
*Start your own real estate blog…its 100% FREE. Ethical Real Estate Pro.
*Learn how-to make money with social media. Watch the FREE Agent Tech Secrets Video NOW.
*stop fearing and start listing Short Sales. Watch the FREE Agent Short Sale Secrets video and download the FREE Short Sale book!
*signing up for the 1800homehotline.com
system
*listening to the free Friday interviews that I’ve missed, at Superstar Interviews.com
*hiring a buyers agent
*creating / polishing / upgrading your Pre Listing Package
*replacing a team member
*learning how to list REO properties. Watch the FREE Agent REO Secrets video and download the FREE How-To List REOs book.
*reading the HREU blog daily at www.TimAndJulieHarris.com
*upgrading your Listing Presentation
*upgrading / starting to use a Buyer Presentation
*mailing to your COI/PC list consistently
*mailing JL/JS cards
*developing a FSBO campaign of cards & calls
*developing an EXP campaign of cards & calls
*not just collecting but USING scripts!
*actually developing/following a Lead Follow Up System
*creating and using buyer questionnaire
*creating and using listing pre-qualification questionnaire
*hiring an assistant
*signing up for a free coaching call at Free Coaching Calls for Agents.
4. AFFIRMATION.
Read this Affirmation 5 times daily:
“I believe that I will have this money in my possession. My belief is so strong that I now can see the money before my eyes. I am holding it in my hands. I know it exists and it is awaiting transfer to me in return for my services rendered with full honesty and all possible skill and diligence. A plan exists which will transfer to sum of $________________to me by _______________and my receptive mind will see that plan and cause me to follow it.”
(Napoleon Hill)
5. ACCOUNTABILITY PARTNERS
Name Phone Number Email Address
1
2
3
x__________________________________________
Your Signature date
X__________________________________________
Coach date
X__________________________________________
Office Manager date
X__________________________________________
Spouse/Signifcant Other date
X__________________________________________
Accountability Partner date
Popularity: 7% [?]
If you missed this weeks Friday Superstar Interview…do yourself a favor and listen to it now.
LISTEN TO SUPERSTAR INTERVIEW NOW.
Today’s Superstar was Robert Jackson from Wachovia bank. We discussed what the revolutionary short sale system that Wachovia as created that results in their average time from contract to close to be around 30 days. (Yes, 30 days…you read that correctly.) Here are a few of the dozens of comments we had as a result of today’s Superstar Interview:
Carol LeClair-Aurora, CO
Great interview, thank you very much!
LISTEN TO SUPERSTAR INTERVIEW NOW.
Rolanda Amos-Nashville
Great attitude toward this … What about properties in the TN area
LISTEN TO SUPERSTAR INTERVIEW NOW.
Marcia M-
This is great – I wanat to relisten
LISTEN TO SUPERSTAR INTERVIEW NOW.
Popularity: 3% [?]
Free Teleconference (or Webinar)
FREE Loan Mod Secrets Teleconference (or Webinar) REPLAY:
Here is all the information you need to listen now:
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://instantTeleseminar.com/?eventid=6921714
Here are just a few of the topics for this call….
1) How to mod your own loan. Learn now exactly how to lower your own house payment saving yourself potentially hundreds per month and thousands per year!
2) Next, you will learn how you can make money from loan mods. Possibly the best people-helping and money-making opportunity in real estate today. Learn how to legally and ethically mod loans for a profit.
3) You will learn what you must NOT do…don’t make these 5 critical mistakes.
4) 6 Ways you can make money now doing Loan Mods.
Listen to the call replay and let us know what you think!
Tim and Julie
Popularity: 1% [?]
Free HREU Webinar.
Hello,
Listen now to the Agent Short Sale Secrets call REPLAY.
Do what ever it takes to listen to this audio replay….. Its THAT important!
Here is the info you need to listen now to this *F-R-E-E* call:
CLICK HERE TO LISTEN NOW…
http://instantTeleseminar.com/?eventid=6806109
This is was a great call….get ready to take pages of great notes.
Speak with you soon!
Tim and Julie
Popularity: 1% [?]
Free Teleconference (or Webinar)
The problem that many fellow Realtor face is not knowing how to work with buyers when:
1) There are so many homes for sale….
2) Its harder for buyers to get financed…
3) Everyone is looking for a ‘deal’
Listen Now:
FREE MAKING MONEY NOW WITH BUYERS TELECONFERENCE.
Here are the 7 Secrets you will learn when you listen to this call:
1) How to get your buyers financed!
2) What is a real home buyer vs. a casual looker.(there is a HUGE difference)
3) What is PRE-APPROVAL vs PRE-QUALIFIED.
4) The New Rules for buyers….what is a AAA home buyer.
5) Learn how-to have your own buyer presentation…(you have a listing presentation…why not a buyer presentation?)
6) 20 Proven buyer lead generators.
7) How to clear out the negative mind set cob webs and learn to LOVE buyers.
Here is that link to listen to the call:
FREE MAKING MONEY NOW WITH BUYERS TELECONFERENCE.
Let us know what you think!
Tim and Julie
Popularity: 2% [?]
Quick reminder for you..
Friday at HREU is all about the FREE Superstar Interviews.
Join us tomorrow where the topic will be the 7 Secrets to making money with buyers in THIS Market.
Here is the info you need:
EVENT: Super Star Interview
DATE & TIME: Friday, March 27th at 12:00pm Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://instantTeleseminar.com/?eventid=6737250
Speak with you soon!
Tim and Julie
Popularity: 1% [?]
