Times are tough. Let us alleviate some stress.

Introducing our New Reduced Residential Escrow Fees

$2.00 per $1,000 of sales price with a $200 base, each side.

We hope this helps and we look forward to doing business with you soon!

“There are only so many ways that you can put chocolate, butter, cream, eggs, milk, fruits, and nuts together. The real competition is in the packaging.”

–President of Russell Stover Candies.

Is your packaging of your pre-listing package, buyer package, etc. the way you want it?

Are you happy with the way your services are packaged and promoted?

Here are some great answers to the objection that your commission is too high:

1. “Can I ask, did that other agent originally ask for a 6% commission and then agree to a 5% commission? Oh, he/she did. That means that just by you asking, he reduced his commission almost 16%. Would he/she reduce your net proceeds by a like amount in his/her negotitation with buyers on your behalf?”

2. “If he/she could not negotiate a fair commission for himself, is that the person you want negotiating a fair net proceed for the home for you?”

3. “If you had a legal problem, would you hire an attorney based on priced or based on their ability to get you out of your legal problems?”

4. “My fair commission is fair to everyone. No one pays more or less. It is a fair commission based on exceptional services.”

5. “Remember that if I do not sell the home at an acceptable net proceed to you–there is no fee paid at all. My fee is totally based on by successes on your behalf.”

Housing numbers way down

10:14 AM PDT on Tuesday, October 16, 2007

By JACK KATZANEK
The Press-Enterprise

Home sales across Southern California were at a 20-year low in September, and sellers in San Bernardino and Riverside counties were getting prices about 11 percent lower than they were offered a year ago, according to a report released today.

The median sales price in San Bernardino County was $325,000 in September, 11 percent lower than a year ago and $35,000 lower than August, Dataquick Information Systems reported.

In Riverside County the median price fell to $375,500, 10.8 percent lower than September 2006 and about $19,000 less than the previous month.

Home sales were off 53.3 percent in Riverside County and 56.1 percent in San Bernardino County.

The sales prices declined in five of the six Southern California counties in September, the first time in the current housing slump that has happened. Only in Los Angeles County, which has less land for new homes, was there any appreciation – a miniscule 1.2 percent.

Dataquick reported financing for so-called “jumbo” mortgages – loans of more than $417,000 – dropped by half in the region because many Southern California buyers need financing of that magnitude to buy homes.

Seth Godin brings us this:

Creativity.

“99% of the time, in my experience, the hard part about creativity isn’t coming up with something no one has ever thought of before. The hard part is actually executing the thing you’ve thought of.

The devil doesn’t need an advocate. The brave need supporters, not critics.”

The L.A. Times printed an article today about buyers and sellers reporting their real estate agents to the Better Business Bureau. The article was objective and presented an real-life example of a couple from San Jose who, after being unhappy with their agent, put in a complaint. The article also gave the agent’s argument and left whose to blame at the discretion of the reader. What can we as real estate professionals learn from this?

Communication is king, stay on your toes, and let’s work smart!

We at Outlook Escrow, Inc. have done some investigative work. We have interviewed local lenders and have completed a list of what is in a Short Sale Lender Package (ta-da)! Below is a list of what your lender will need to get your short sale rolling.

SHORT SALE LENDER PACKAGE–

1. 2 YEARS TAX RETURNS/PROFIT AND LOSS STATEMENTS

2. PAYSTUBS/VERIFICATION OF EMPLOYMENT

3. BANK STATEMENTS

4. PAYOFF STATEMENT(S)

5. HARDSHIP LETTER (the more pathetic…the better)

6. FINANCIAL WORK SHEET

7. ESTIMATED CLOSING STATEMENT

8. PURCHASE CONTRACT (if offer has been made)

9. APPRAISAL

10. BUYER EARNEST DEPOSIT (if offer has been made)

11. COPY OF LISTING AGREEMENT

12. COPY OF MLS

13. COMPARABLES IN AREA

14. PRELIMINARY TITLE REPORT

15. COMISSION INSTRUCTIONS (if in escrow)

16. ESCROW INSTRUCTIONS

Happy Selling,
-OE

So you’ve got this listing. Just sitting there. Let’s make something happen!

Ask your seller for the names and addresses of their 50 closest friends. Send out a letter like the sample below:

Dear (Seller’s Friend…),

Hello! My name is Jane Applebee, a Realtor with XYZ Realty, and I am currently assisting Bob and Cindy Smith on the sale of their home on 123 Cherry Tree Lane in Riverside, California.

As a friend of Bob and Cindy’s, I would love your support in getting this property sold! I am going to be notifying you of open houses and private viewings so feel free to invite your family and friends to these events. The sooner we can sell this property on Cherry Tree Lane, the sooner Bob, Cindy and baby Lucy can move into their new four-bedroom home.

Please do not hesitate to contact me with any questions, concerns or advice! I look forward to meeting you soon.

Thank you for your support,

Jane Applebee
Realtor

Total cost: $20.50 plus the price of the paper and ink.
Total value: You now have 50 more names to add to your sphere of influence to reference later.

On October 16, 2007, Our Manager and Sr. Escrow Officer, Karen Gardner, will be presenting a FREE Basic Escrow Course specified to help better your business and assist your clients with transactions. Not only will an awesome LUNCH be provided, but it will give you an opportunity to network with other real estate professionals. The class will be held at our office at 6840 Indiana Avenue, Suite 150. Riverside, CA 92506 from 12pm-1pm.

We hope to see you there (oh, and come hungry)!