As a buyer, you have several obligations when it comes to purchasing a home.  Here is a list of items that you should keep in mind when looking for buy.

1. Down payment – Due in Escrow                                                               (3.5% – 20% of purchase price)
2. Closing Cost – Due in Escrow                                                      (Average 6%-8% of purchase price)
3. Appraisal – Out of Pocket Prior to Close of Escrow                            ($475+$150=$625)
4. Home Inspection – Out of Pocket Prior to Close of Escrow, Optional, but Highly recommended ($200-500 depending on Sqft.)
5.  Termite Report & repairs if applicable - Due in Escrow/If Seller will not agree to pay it. ($75-$100)
6. Home Warranty – Due in Escrow/If Seller will not agree to pay it.      ($355+if add on extras) Optional, but Highly recommended

1. Communicate and make appointment to view homes with your agent.
2. Get required documents to lender/agent in a timely manner.
3. Make time to sign Escrow Docs when Docs are in Escrow.
4. Purchase new lock sets so all doors can be changed out once escrow is closed.

Beginning in May, C.A.R. embarked on a multifaceted campaign to educate consumers about the growing trend in mortgage modification fraud. A nonprofit housing agency recently reported that attempts to scam struggling homeowners have climbed nearly 60 percent nationwide in 2012 alone. And with the recent announcement of the National Mortgage Settlement, it is expected these scammers will step up their efforts.

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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.