5 Steps to Finding Your Best Mortgage Lender

5 Steps to Finding Your Best Mortgage Lender

RECBL - Real Estate News

(TNS)-You’re buying a home and you need a mortgage. How do you choose the right lender-one that will offer not only the best deal, but also good customer service?
You’ll find no shortage of banks, online lenders, mortgage brokers and other players eager to take your loan application. Here are five tips for selecting the best mortgage lender out of the bunch.

1. Compare Offers and Lenders
Start getting familiar with various lenders and the deals they’re offering by browsing through mortgage rates.

Lenders will "present price differently," notes Robert Davis, an executive vice president at the American Bankers Association (ABA). "Some lower rates might include fees with it, so the annual percentage rate is different than what you might think."

Also, understand that some lenders specialize. One might be a good choice if you’re financing a condo, while others might offer a better deal if you’re building your home from scratch. You’ll want to have a general idea of the type of property you’re interested in.

2. Check With Lenders and People You Know
You might find the right mortgage and the best lender without having to look very far. Go to the bank or credit union where you have a checking or savings account and ask about the types of mortgage deals that are available to current customers.

Compare any offer against what other lenders in your area and online and large national lenders will give you.

"Interest rates change as much as three or four times a day, so get quotes from three different (lenders) to increase your odds," says Brian Koss, executive vice president of Mortgage Network.

Be sure to ask family members and friends for referrals to loan officers and mortgage brokers who gave them good, professional service and helped them find the most competitive loans.

3. Decide: DIY or Hire a Broker?
One important decision is whether to seek out a mortgage and lender completely on your own or use the services of a mortgage broker.

A broker can help with your comparison-shopping by gathering quotes from several lenders, but it’s important to understand that a broker isn’t obligated to find the deal that’s best for you.

If you decide to work with a mortgage broker, it’s wise to look at how the loan offers from the broker size up against those you find on your own.

Look at differences in rates, fees, mortgage insurance and down payments-and compare what your bottom-line costs will be.

4. Talk With Your Real Estate Agent
Be sure to ask your real estate agent for lender recommendations. Smart loan officers rely on that business and take good care of the clients sent their way by local real estate agents.

Keep in mind that agents might have relationships with certain lenders, so when your agent gives you a name, ask whether there is any affiliation.

While some real estate brokerages have their own favored in-house mortgage lending businesses, good agents will not limit their referrals to those particular lenders.

5. Be Ready for a Possible Hand-Off
Many lenders will end up selling your mortgage to the secondary market, which means you will likely have a different company servicing your loan than your original lender.

This transfer is often outside your control, but you can ask the lender whether it knows if your mortgage will end up being serviced by a different company. If you want a lender you can reach out to immediately if problems arise, finding one who will hold onto your mortgage might be the best option.

"If it’s important for you to have local contact with the lender, then you’ve got to go to a bank that keeps your mortgage," says Davis.

(C)2017 Bankrate.com
Distributed by Tribune Content Agency, LLC

CashBuyersLists.com                                                     Please like, comment and share.  Thank you.

Under-Promise, Over-Deliver

Under-Promise, Over-Deliver

RECBL - Real Estate News

The real estate industry is full of amazing people who have a desire to do well, but according to Gallup Poll, were not very well-respected. This is in part a symptom of under delivering and not being focused on creating the ultimate client experience.

The key to exceeding expectations is to first decide what level of agent you want to be.

Do you want to do the minimum required to get paid at the closing table, or do you sincerely want to create raving fans because of the experience you created during the home-buying or -selling process?

If the answer is creating the ultimate client experience, follow the lead of the elite agents and brokers who make it their mission to create these experiences, and build your systems around excellence. One of our coaching clients, Anthony Marguleas of Amalfi Estates, will close $200 million in real estate this year listing and selling homes in California.

Marguleas team has taken the time to break down every touch point, follow-up and interaction with their clients to intentionally create an amazing client experience. In dealing with the elite, and high-dollar buyers and sellers, Marguleas has learned that his team can’t be average. Not only does his team host amazing open houses, but they also have amazing client appreciation events. And they’ve even implemented a high-touch system in order to stay in touch with clients before, during and after each transaction.

As a result, his business continues to grow, as does the teams ability to serve more families. Once a transaction is complete and commissions are paid, members of the team donate up to 10 percent of their commission to one of five local charities in the name of the client. This experience allows them to be a critical part of the community, create an amazing experience for the client, and make a real difference. As a result, they’ve donated over $400,000 to date, with the goal of reaching $1 million. The clients love that the team is focused on making a difference instead of running around with commission breath.

Here are a few suggestions that will make a difference when it comes to creating an amazing client experience:

• Increase your communication. Follow up, stay in touch and keep clients informed as to what’s going on with the transaction.
• Build a premium marketing program that has more, does more, and separates you from the average.
• Hold client events. This gives you the ability to connect with your clients on a more personal and fun level.
• Do what you say you’re going to do.
• Use a system. Don’t use Post-it notes or text messaging to remember to do the right thing. Use a follow-up system and schedule your communication so that it never falls through the cracks.
• Become a true expert. Read articles, attend classes, study trends and know the inventory. There’s no substitute for experience. If you don’t have it, block out time on a daily basis to gain the knowledge you need so that you can communicate with confidence and accuracy.
• Be passionate with everything you do. Your enthusiasm will rub off on everyone you come in contact with.
• Go the extra mile. When you’re all done, ask what more you can do, then do it.

Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams. Sign up today for a free business consult with Verl by sending an email to coach@verlworkman.com. To hire Verl to speak at your next event, email events@verlworkman.com.

For more information, please visit www.workmansuccesssystems.com.

CashBuyersLists.com                                                Please like, comment and share.  Thank you.

Why You Should Be Working With Renters

Why You Should Be Working With Renters

RECBL - Real Estate News

As a real estate agent, you know a steady stream of leads is the only way to keep your business moving; however, many agents shy away from rental leads because they believe they aren’t worth the time or investment.

The only tool that allows you to time-stamp the life-cycle of a customer, rental leads can be a great way to increase your client list. The best part about rental leads is that most agents aren’t focusing on them, so it opens a new, untapped market. If you put these tips to the test and find your business thriving, you may have found your niche.

Why should I work with rental leads?
While many groups such as millennials are moving toward homeownership, some can only afford to rent. This means there’s a large portion of potential homeowners waiting. If you can work with them now, you’ll know exactly when their lease is set to expire. This puts you in prime position to contact them about buying a home as their rental period ends.

Where do I begin?
Before you start, set a price point (e.g., $2,000/month). This means you’ll only work with clients who are looking for rentals priced at $2,000 and above. After they’ve found their dream property and moved in, send something small to congratulate them. This creates a warm relationship, giving you something to build on in the future.

How can I convert renters to buyers?
After your clients have moved into their rental, add them to an email campaign and invite them to follow you on social media. Share periodic tips related to saving for a down payment and how to prepare to buy a home. After they’ve been renting for nine months, contact them directly to ask if they’re interested in buying as their lease comes to an end. Since you helped them before, you know exactly what they’re paying, where they live, and what they wanted in a property. 

This gives you a great advantage in helping them look for a home. If they seem a little hesitant, send them some properties that show how much they could be saving by owning instead of renting.

Keep in mind that if someone inquires about renting, it doesn’t disqualify them from buying. Many renters have great credit scores and savings, but don’t know they can afford a home. You could show them that its less expensive to own than rent. If it turns out a rental client doesn’t want to buy, you can always refer them to another agent.

What do I do with the leads that don’t meet my price point?
If your price point is $2,000 and you have a number of leads below this price range, farm them out to other agents. Offer to sell these leads for a nominal fee ($5 each) to rental-specific agents. Over time, they’ll pay for themselves. If you’d rather keep them in-house, these leads could be great for new agents who are still building their experience.

Ready to start building your client database? Homes.com can connect you with quality rental leads in your area. Don’t let any more rental leads slip away from you; start connecting with them today. For more information, visit bit.ly/homesrental.

Mark Mathis is general manager of Agent and Broker Sales at Homes.com.

For more information, please visit connect.homes.com.

CashBuyersLists.com                                                    Please like, comment and share.  Thank you.

Using Generational Preferences in Your Property Marketing Mix

Using Generational Preferences in Your Property Marketing Mix

RECBL - Real Estate News

The following information is provided by the Center for REALTOR(R) Development (CRD). It probably comes as no surprise to you that communication preferences vary considerably across generations. This is largely a result of what communication method each generation grew up with and got used to. Understanding these differences can offer insights into working better with cross-generational colleagues or clients. While there can be wide variation within generational groupings, and we shouldn’t fall into the trap of believing in rigid stereotypes, there is, however, enough of a pattern to generate some useful guidelines:

The Silent Generation, those born between years 1900 and 1945, are typically disengaged from technology. Their signature product is the automobile; for communication, they prefer face-to-face, letters and memos.

Baby boomers are those born between the years 1946 and 1964. Their signature generational product is the television. They are less formal in their communication than the Silent Generation, but still prefer doing business in person or via conversation on their cell phones.

Generation X, those born between 1965 and 1976, grew up during the advent of the personal computer. Their preferred mode and style of communication is direct and immediate; therefore, they will typically appreciate emails over phone calls and in-person meetings.

Millennials are complete digital natives for whom the signature product is the smartphone. They tend to prefer digital and informal methods of communication such as text, Twitter or Instagram. If something is important, though, they will appreciate an email or a voicemail that they can review later.

With these preferences in mind, when you are planning a property listing and marketing strategy for a seller, you will want to take into account the market economics (Is it a buyer’s or a seller’s market?) that the property is in-and the geographic and demographic realities of the area (What kind of buyers do you want or will you be able to attract?).

According to NARs Profile of Home Buyers and Sellers, for all of the generational groups described above, online search and real estate agents consistently ranked No. 1 and No. 2 as their most-used methods of finding a property. Furthermore, mobile apps, online video sites, yard signs, and open houses come in at the No. 3 through No. 6 spots for all the groups (but in a different order of preference for each). Other methods that don’t rank as high as these, but which can be reliable under the right circumstances, include: print newspaper ads, home builders and printed "home books."

Based on this research, it’s safe to assume that technological and non-technological methods for finding and selling properties are being used in a blended, overlapping, or complementary way. The key when you are serving seller clients is to devise a marketing strategy for the property that has the right mix of marketing activities so that you minimize wasteful activities and maximize effective ones. You’ll need a different marketing toolkit for different homes and different markets and different circumstances.

Below is a comprehensive list of the marketing activities you may have at your disposal. The specific ones you choose to use, the way you (re)combine them, and the relative emphasis or resources you devote to each will have an impact on your success marketing the property within its particular market:

In many ways, coming up with a marketing plan is an act of creativity based on practical experience, much like creating a recipe of your own or building something without instructions. The more skilled you are, the more you will "just know" how.

Even if you already have a good feel for what might work, there is tremendous value to documenting and tracking your efforts over the long term, even down to the property level. In the same way that you should be tracking ROI (return on investment) for your own business prospecting (client acquisition) activities, you should also have an established process for tracking ROI for each of the different tools in your property marketing toolkit. By tracking ROI for each of the different tools in your property marketing toolkit you gain clarity and visibility, when and why you have success, so you can add this information to your base of experience.

There is nothing better than putting information and actions to paper so that you can see patterns emerge and see something that you didn’t even realize was there. All of this can help inform and add precision and cost-effectiveness to future marketing planning.

To learn much more about generational preferences within property marketing plans, tracking ROI for your success with seller clients and their properties, and seller representation overall-please consider checking out the education, benefits, and resources offered by REBI and its SRS Designation. In October, the featured 25% OFF course at the Center for REALTOR(R) Development is the Seller Representative Specialist (SRS) Designation course, which is the core requirement toward obtaining this credential.

For more information, please visit the online learning portal from NAR's Center for REALTOR(R) Development (CRD) and the Learning Library. Here, real estate professionals can sign up for online professional development courses, industry designations, certifications, CE credits, Code of Ethics programs and more. NAR's CRD also offers monthly specials and important education updates.

CashBuyersLists.com                                                 Please like, comment and share.  Thank you.

Digitally Transforming Your Business

Digitally Transforming Your Business

RECBL - Real Estate News

(Family Features)-One of the challenges facing small businesses today is trying to deliver the same customer experience as larger competitors. As technology advances and takes on an ever-growing role, small businesses can tap new innovations to better communicate with customers, save money and simplify operations.

As small business owners look to transform digitally, they face a number of options, from upgrading their technology to optimize shipping operations and decrease costs to adopting digital marketing tactics to better understand and target their customers. While it can be difficult for a small business that is well-established using analog processes to switch to digital, the key is to start with the final objective in mind; in other words, begin by defining your end goal. Once you’ve determined the desired outcome of digitizing your business, these tips can help you establish a strategy that can benefit both your business performance and customer experience.

Reach customers through digital marketing.
An important step in digital transformation is revisiting how you attract and interact with current and prospective customers, who are increasingly turning to a combination of physical and digital channels to engage with brands and businesses. If you think of digital marketing and email or online ads, you’re on the right track, but effective marketing requires more than simply hitting send on an email or counting clicks on an ad. Email marketing should be focused on providing helpful, relevant content to your target audience based on its preferences. Recipients can come to appreciate your insights on industry news and helpful information, so your sales pitches are likely to be more warmly received.

Beyond the content, an effective strategy establishes connective links between all your marketing touchpoints, from email to blog and even to your traditional tactics, such as direct mail and more, all with the goal of boosting credibility and visibility via search engine optimization and foot traffic.

Optimize operations through the cloud.
As technology evolves, more tasks can be handled online and more traditional analog devices are connected to the internet and the cloud. Adopting the use of these digitally connected devices can not only make fulfilling tasks easier and more efficient, but also track patterns and collect data that brings new value to small business owners. For example, with a surge in parcel volumes year over year (thanks, in part, to a sustained e-commerce growth, according to the Pitney Bowes Parcel Shipping Index), consider a cloud-enabled shipping solution, such as the SendPro C-Series, to simplify sending operations. This digital multi-carrier platform leverages the latest cloud technology to enable offices of all sizes to easily select the ideal sending option for every parcel or letter, while also providing full tracking information and delivering savings.

Make decisions based on analytics.
Beyond providing efficiency and simplicity, connected and cloud-enabled devices can generate and track valuable data, which can, in turn, be analyzed and used to make important business decisions. In a business environment dominated by ever-changing consumer preferences, data-driven insights are key to serving the needs and securing the business of todays hyper-connected consumers. By utilizing data and analytics, your business can be better equipped to deliver superior customer experiences, support product and service innovation, and optimize business processes.

Use mobile to communicate with customers.
Even the smallest of businesses can take steps toward better mobile communication, such as ensuring their websites are mobile-friendly and responsive to different device types. This is especially important as mobile usage continues to climb in the U.S., and consumers increasingly rely on mobile devices for information to guide purchase decisions. Your business can also capitalize on location intelligence capabilities to deliver timely coupons and promotions to customers in the immediate vicinity.

Source: pitneybowes.com/us/digital

CashBuyersLists.com                                                     Please like, comment and share.  Thank you

The Tao of SEO: Mastering Website Advertising

The Tao of SEO: Mastering Website Advertising

RECBL - Real Estate News

Referrals are your best leads, but the next best way to get leads that convert is with a good SEO (Search Engine Optimization) strategy. What is SEO? It’s simply the practice of increasing the quantity and quality of traffic to your website. SEO helps the people who are looking specifically for what you have to offer find you easily and quickly.

Albino Garcia, SEO expert and CEO of iIntercept Media and Director of Marketing for AZ Social Realty, has dozens of suggestions for helping REALTORS(R) get more attention online with his spotlight on Mastering Website Advertising. We’ve included just a few strategies to create more website leads.

As a REALTOR(R), you sell a lot of different types of homes, but to capture the attention of homebuyers who want to buy a specific kind of home, the more descriptors you can link to your site, the more buyers you’ll attract. If someone is looking for their dream cabin, castle, four-bedroom ranch, or tree-house, you want to let them know you have a listing that matches what they’re looking for.

SEO produces the highest-converting leads.
SEO helps people find you, but, more importantly, it helps people who are ready to buy, looking to buy, and eager to buy. That’s why it’s such a valuable tool-but unfortunately not one many REALTORS(R) use as effectively as they should. Garcia has three steps REALTORS(R) can implement immediately to start generating leads:

Step 1: Add your business to mobile and online maps.
Do this by claiming and optimizing your company on Google My Business, Bing Places profile, and other social media sites.

• Have a unique description that links back to your site.
• Select the right category for your business. Have as many photos as possible-the more, the better.
• Have a complete profile.
• Get as many reviews on your site as possible.
• Make sure your name, address, and phone number are the same across all your social media pages, including Google My Business, Yelp, your website, and any other social media sites (Facebook, etc.). Google looks for that when ranking sites.
• Get local reviews. Not every customer or client will leave a review, so make sure to ask your happy clients to leave a review. Most are happy to rave about you when you’ve done a great job.

Step 2: Optimize your website for Google and other search engines using SEO.
Make sure you optimize your title and your meta description tags on each page. If you’re not sure how to do that, there are online tutorials and articles to help you figure it out, or you can hire someone. Title tags need to have a unique description. In fact, Garcia said, "Every page on your website should have a title and a description relevant to the information on that page. It’s how Google ranks pages."

• Use an additional markup called "schema markup." Schema is a process that allows your web manager to mark up your web pages with additional coding that allows search engines to find your site easier.
• Optimize page content. Does your content relate to the title and heading? Is the information useful? Longer is better when it comes to content, and content is important when it comes to SEO.
• Images can also be optimized. Make sure your images have a keyword related to your title. Make sure there is an "alt-image" tag on all your images. It should also be keyword-related.

Step 3: Create interest in your brand.
"Generate buzz around your business," Garcia said. There’s only so much buzz you can create at an open house, so take to the internet. Use link-building, guest-posting, and news or public relations stories on your website to help build the buzz. "Google is in the business of providing searchers the best results possible, so their algorithms are all about doing that. Your business should also follow that model. How can your website deliver the best results possible and be a resource for your searchers?" Garcia asked.

The best ways to help generate buzz and visitors to your site are:

Link-Building - Links that come back to your website from quality sources that people trust can help build your reputation with search engines. Make sure your business is found on legitimate sources across the web like Yelp, Google My Business, Bing Profile, Craigslist and Realtor.com, or sponsor a local sports team that will link back to your website. Follow influencers in your industry. Have a LinkedIn profile.

Guest-Posting - The objective is to create a blog which links to your website which someone else will post on their website. Find good writers in your niche and engage with them, follow them, retweet them and reach out to them and ask if you can write a guest post for their site that links back to yours. This creates links back to your website, increases traffic to your site, and legitimizes your ideas.

Press Releases - There are more newsworthy things happening around your business than you realize. By putting out a press release, you’ll get the attention of journalists and others who will want to know more. The more information, quality content, news, and updates you can get online, the better.

Garcia shared a variety of apps, tools, tips, and websites which can help REALTORS(R) learn more about SEO and apply it to their websites. If you would like to learn more, view the entire 5 part series, Mastering Website Advertising or pick up the free eBook, REI Marketing Solutions: How to Market Your Real Estate like the Professionals.


For more tips on how to increase your website traffic, please visit www.iinterceptmedia.com

CashBuyersLists.com                                                    Please like, comment and share.  Thank you.

7 Easiest Ways to Get Into Real Estate Investing

7 Easiest Ways to Get Into Real Estate Investing

RECBL - Real Estate News

(TNS)-Only 15 percent of Americans are investing in real estate other than their primary residence, according to a real estate investing study by RealtyShares. In fact, two-thirds of Americans believe that investing in real estate is too difficult, too costly or beyond their capabilities. This might be true if they were considering commercial real estate investing, which can be a risky move for new investors, but there are safer options.

What Is Real Estate Investing?
Investing in real estate means buying property to earn income and build wealth, either on your own or with the help of real estate investment companies.

Many investors own more than one property, and their earnings include rent paid by tenants and the equity they build through appreciation. Investment property owners have different tax considerations for their investment properties than they do for their primary residence.

Investing in real estate doesn’t have to be intimidating. Here are seven ways to start investing in real estate now:

Rental Properties
Buying rental property is one way to get started in real estate investing. Buying a rental property starts with choosing the right property, and then finding renters, maintaining the property, dealing with tenants and collecting rent each month.

One stumbling block might be locating an affordable property worth investing in.

"Traditional real estate investing is alive and well, although it’s largely dependent on geography," says Aaron Milledge, founding partner and chief compliance officer of Targeted Wealth Solutions, LLC. "In some places, home prices have appreciated so much that it may be difficult to find a lucrative deal."

Rental properties not only provide rental income, but also tax benefits not available with other investment opportunities. An additional advantage is that you have more control over your rental property than you do over investments such as the stock market.

Live-In Flips
House flipping involves buying a property at a discount, improving it for the purpose of appreciating its value, and then selling it at a profit. A live-in flip is a property the investor lives in while renovating it.

Living in your flip benefits you in two ways: First, you can make money when you sell the house later; second, you avoid having to pay for a separate home to live in.

"Flipping a house-acquiring, repairs, and selling can be completed in six months and result in a substantial payday," says Lucas Machado, real estate investor and founder of Home Heroes, LLC. "Flips can earn tens of thousands of dollars in a short time frame. It’s the best strategy for those that need capital in the near future."

Multifamily Homes
Multifamily properties are buildings which house more than one family. The fact people always need a place to live results in consistent demand for rental units, regardless of the overall economic environment.

Investing in multifamily homes can be lucrative if it’s done properly. Justin Taber, real estate investor and a licensed REALTOR(R) in Ohio, recommends living onsite.

"While you live in this property, you will be living either for free or heavily subsidized by renters," Taber says. "When you move out, you will be making money. In about 30 years, once this property is paid off, your cash flow will be quite substantial-just in time for you to start thinking about retirement."

Crowd funding
Crowd funding is one of the newest and easiest ways to access the real estate markets. Rather than buying an entire property or financing a development project on your own, you can buy into a very small share of a property or project using a real estate crowd funding platform.

Not all platforms are created equal. Look for one led by real estate professionals qualified to screen investments. From there, you can choose which specific real estate investments you want to buy into. Distribution of future gains is proportionally based on the ownership shares investors purchased.

"These private placements are illiquid, though, meaning that you may have a hard time selling your investment if you need to raise cash quickly," says Milledge.

REITs
Real estate investment trusts (REITs) are a special form of security that invests in real estate. Unlike most other investment vehicles, REITs must pay out at least 90 percent of their taxable income as dividends to investors. When you invest in a REIT, you’re essentially paying a professional management team to do the work of investing your money in real estate while you reap the profits of REITs.

REITs are an easy way to invest in real estate because you don’t need tons of money.

"The initial contribution to invest in a REIT is very low," says John Barnes, certified financial planner and founder of The Annuity Assistant. "For example, you could buy shares of a REIT which manages apartment complexes for $500. Contrast this with a direct purchase in an apartment building, which might cost you $500,000, and the many risks that go with it."

Real Estate Wholesaling
Real estate wholesaling is when there is a middleman involved in the transaction between the seller and the buyer, with the wholesaler serving as the middleman.

Kyle Alfriend, owner of a real estate business in Ohio, sums up what it’s like to be the middleman: "You focus on only finding the property, negotiating the price, and then selling that agreement to another investor. This is called wholesaling and requires no out-of-pocket money from you."

The fine line of separation between real estate wholesaling, which doesn’t require a real estate license, and real estate brokering, which does require a license, has led some states to set guidelines for wholesaling activities. Texas law, for example, requires that unlicensed wholesalers disclose their financial interest to prospective buyers.

Rent Out a Space in Your Home or on Your Property
Renting out part of your home or property is probably the most immediately lucrative investment you can make, and you won’t need outside funding or a new piece of property. Instead, find opportunities within the property you already own.

Perhaps you’re a homeowner with a garage apartment that only needs a bit of TLC to make it ready for renters, pr maybe you have a spare room in your home that’s sitting empty. With a little bit of money up front, you can start renting it to a tenant almost immediately. Alternatively, advertise the room as a vacation rental on an online booking site such as Airbnb.

Michael McDonald contributed to the reporting for this article.

(C)2017 GOBankingRates.com, a ConsumerTrack web property
Distributed by Tribune Content Agency, LLC
Source: American Home Shield(R)

CashBuyersLists.com                                                           Please like, comment and share.  Thank you.