Time is Money. We’ve all heard this before but the fact is, “Time really does equate to money and we waste too much of it.”

Disorganization, undisciplined technology, too many devices requiring repetitive updates, spam, tweets and emails from those that “Can’t Do” telling you “How To” make millions; it all adds up to hundreds of lost hours and thousands of dollars wasted per year.

If you’re still working hard to be successful in real estate despite the recession, you have no doubt embraced the critical importance of having a strong on-line presence. We have smart phones, iPads, Laptops and bluetooth devises that allow us to respond to external customers (clients) and our internal customers (escrow, office staff etc.) within seconds, e-keys, personal and professional websites and of course the dreaded “blog”.

Granted, on occasion, I do find some useful tidbits of information in blogs, most of the time, they consist of recycled, rehashed, regurgitated and plagiarized material resulting in a complete waste of time (and money). All of the “masters of the universe” out there marketing themselves as internet marketing geniuses have warned us about not maintaining a high visibility through blogging. Unfortunately, most of us just don’t have that much to say that is considered interesting to others, this results in the internet and Realtor® sites being flooded with garbage just so we can see our names pop up on Google searches. If it’s not new and it’s not generating money for you why write about it? And please learn to use spell check!

Another pet peeve of mine is websites like Trulia and Zillow. Most real estate agents fail to recognize these sites are not so much lead generators as much as they are profit centers for the website owners. These sites contain outdated data and incorrect information, often misleading buyers to invalid assumptions. Questions from so called “buyers and sellers” appear in our inbox regularly, inspiring agents to provide an instant response so they can “impress the potential client”. Much to our dismay, some of these questions are months, and in some cases, years old! Newer and or desperate agents, or just those with hours of time on their hands respond to these in an attempt to “win the prize” of the new client. But, if you are like 99% of agents, this exercise has been to no avail.

Linked-In is a fabulous tool to network with colleagues. But, many agents think this is an effective way to market individual properties. Unfortunately, all they are doing is flooding the in boxes of their competitors, not potential buyers! Did they forget that we already have access to the MLS?

Often I have heard disparaging remarks about real estate agents as a whole. As a broker I find them to be insulting. I know the educational background of my team and myself. We comprise an informed, well trained and proficient group. When interviewing agents who are interested in working with us we ask some basic questions regarding proficiency and knowledge base. Roughly two thirds can’t answer basic questions about fiduciary requirements because they have never had basic competency training. They cannot name closing techniques or explain Public Reports etc., yet when we check, most of these people have blogs and are self-professed experts on Trulia, Zillow and Active Rain.

My point is this; as an industry we need to get back to basics. We need recurring in-house sales training in addition to DRE required continuing education, we (agents) need to stop wasting time marketing to each other and start marketing to Buyers. You need a plan to stay ahead of your competition. Learn how to spot a client’s buying signals and learn how to “close” the buyer and get the deal signed.  Hour for hour, you will fare far better by reaching out to the public in person rather than sitting in front of your computer for 5-8 hours a day.

Sitting at your computer day after day isn’t really working and it’s not going to produce the desired results! It may feel like work, but, it really isn’t!

Yes, I said it! It needed to be said!

And most importantly, stop reading my blog and go sell a house! I warmly accept that no one cares what I have to say!

www.guyfoxwell.com                            

The comments contained herein are the opinion of the author and not necessarily those of Real Estate Resource Services.

Please take a minute to participate in our informal survey: How many of your “closed sales” have been a “direct result “of marketing through social networks such as Facebook, Linked-In or others? Send me an email at guy@rers.org and let us know how many sales and what sites are working best for you.

My buyers always get confused and excited at the same time when getting close to closing escrow. There is a lot going on at this time and it can be hard to understand it all, so when you are close to closing please refer back to my Blog and these frequently asked questions.

What is a HUD 1, and why is my lender always saying they need this HUD1 before they can order Docs???  The HUD 1 is the document that summarizes all the costs from the lender to generate the loan, this includes what your closing costs will be and will show any credits or contributions from the Seller, if any, and Escrow costs. This is the final document that needs to be signed off (approved) by the Seller and delivered back to Escrow before the docs can be ordered by the lender!

What happens and what does it mean when my lender tells me they have ordered Docs?  This means that they have requested your final loan documents and are waiting for all the loan documentation to be compiled and emailed to them from their internal loan document department. When the documents arrive they will typically be reviewed by the loan officer or processor and escrow to verify that everything is correct. Once Escrow has received the Lender Documents, they typically require 24-48 hours to review the documentation and prepare all of the additional documentation required internally by the Escrow.  Escrow will then call you to schedule an appointment for you to come in to their office and sign all of the required paperwork.  Feel free to call Escrow to get your appointment scheduled so they know you are in a rush to sign! They may not schedule you at the time you call, but they will have you on top of the list to call and schedule you in the time-frames you have provided them when they are ready!  Typically, loan documents are signed at the Escrow office, however sometimes a signing may be scheduled at your lender’s office or another location of your choosing – when this occurs the services of a mobile notary are required and there is typically an additional expense for their services.  

What happens after I sign my loan documents, and how much longer do I have to wait?  You must make arrangements to wire your funds to close after you sign your loan documents, if you have not done so already.  Once the documents are signed, they are sent back to the funding department for review.  This typically takes 24 to 48 for review and the satisfaction of any prior to funding conditions – these can include a verbal verification of employment and proof of homeowners’ insurance. Once all conditions are satisfied and signed off,  your lender can set up the file for Funding! Once Escrow gets confirmation of the funding then Escrow can set your file up for Recording.  Both of these processes can take 24 to 48 hours.

What do you mean Funding and Recording – I just want my Keys!  Once the Lender receives the loan documents back from Escrow  they must Fund the loan, which means that the money you are borrowing is electronically transferred to Escrow.  When they have confirmed receipt of all of the money required to complete your purchase they will arrange with the Title company to record title to your new home in your name.  This will typically occur the following day. In Riverside County the county recorder’s office only records documents once per day – in the morning – on Monday through Thursday.  On Fridays and the last day of the month, the recorder’s office records documents a second time – in the afternoon.  This allows for properties that fund in the morning on those days to record in the afternoon – as long as all of the paperwork is prepared and Escrow knows that you are requesting a “Special Recording”.  You may not receive your keys until everyone has confirmation from Escrow that everything was finalized and Recorded properly. No Funding or Recordings will occur on the weekend because escrow and the County Recorder’s office are closed.

Why should I change the locks on all the doors, it’s expensive and I have spent enough money purchasing the home?  This is to protect your new home and your belongings.  Homes listed for sale, particularly REO properties, have a lot of agents and contractors in and out of your home many with their own key, the previous owner and/or tenant may still have a key to the home as well.  Once you close escrow you want to control who has access to your home, changing the locks guarantees that you control who has access to your home.

Congratulations on purchasing a new home and remember closing escrow is only the end of the beginning of your life in your new home!

In a survey of 1,000 single people, more than a third of women and 18% of men said they would much rather date a homeowner than a renter.  Only 2% of women said they preferred to date a man who rents, while only 3% of men said they would choose a woman who rents over one that owns her home, according to the survey, which was conducted by Harris Interactive for real estate site Trulia.

Both sexes also clearly prefer it when there’s no roommate in the picture; 62% of survey respondents, men and women, prefer to date singles who live alone.

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“FHA foreclosures” equate to “HUD Homes”.

Take two hours of your day and learn the CORRECT way to SELL and CLOSE HUD Homes. If you don’t, you will struggle with these transactions!

“How to Successfully Sell HUD Homes”

This is an invitation to a FREE “on-line” HUD-Pemco Training Seminar

Date: Wednesday January 25, 2012

Time: 10:00am-12:30pm

1.  Click the link below to join the training meeting.

https://www1.gotomeeting.com/join/454539961

AND………………………

2.  Join the conference call:

Conference Dial-in Number: (308) 344-6400 (Long Distance Charges Apply)
Participant Access Code: 484683#