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By Paul A. DiSegna | Real Estate Pro in Rhode Island
  • Real Estate Marketing Strategies: Do You Need to Be Lucky to Succeed?

    Posted Under: Quality of Life in California City, Agent2Agent in California City, How To... in California City  |  March 10, 2011 2:17 PM  |  544 views  |  3 comments

    Real Estate Marketing Strategies: Do You Need to Be Lucky to Succeed?

    By Dr. Maya BaileyPrint Article Print Article

    RISMEDIA, March 10, 2011—While working with one of my clients recently, helping her to release her self-limiting beliefs, she brought up the old belief that she had been carrying for decades: “I have to be lucky to succeed.”

    I asked her how she would benefit from releasing and reprogramming that belief and she answered, “I would be more motivated to take action.”

    During the reprogramming process, I asked her to go back to the origin of this belief, and she vividly recalled sitting in the living room with her parents and watching TV. When shows would come up that would showcase a successful person, her parents would always say, “look at them, they are so lucky.”

    Even at a young age, she realized that her parents used this statement as an excuse for why they didn’t have more material possessions. She realized that her parents used the phrase to deflect the responsibility for success on to something beside themselves.

    By telling themselves that success depended on luck, they could more easily accept the scarcity in their lives. I asked her to tell me how she benefited from believing as her parents did. She answered: “It gave me a feeling of belonging with the family to believe the same way they did.”

    I asked my client to tell me what the negative consequences would be if she continued to hold on to the belief “that her success depended on luck.” She was surprised to realize that as long as she held on to that belief, she wouldn’t really work her hardest to succeed. She would never give 100% as long as she thought her success depended on luck.

    With that insight, it was easy for her to choose to install some updated empowered beliefs such as:

    -Now I know that my income is a direct result of my efforts
    -My vision takes me to my goals
    -I always get what I focus on
    -I am a magnet for my ideal clients
    -As I project confidence, I become a magnet for an abundance of my ideal clients

    Has this ever happened to you? Have you ever believed that something outside yourself is responsible for your success or lack of success? Have you ever attributed your lack of success to a lack of luck or to the belief that the economy is responsible for your lack of success?

    It’s easy to fall into the trap of feeling like a “victim,” rather than realizing that you are the deliberate creator of your life.

    I recommend reminding yourself of these quotes:

    “If it’s to be, it’s up to me.”

    “Whether you believe you can or you can’t, either way you’re right.”

    Gary Keller states in his new book SHIFT: “It’s not about the market, it’s about what you do.”

    I have been telling my clients for years, “Your success depends on your mindset, not on the marketplace.”

    Knowing this, I see my clients make tremendous strides in doubling and tripling their incomes and in many cases creating a multiple six-figure income once they have “unwavering faith” in themselves.

    I highly recommend that you release any self-limiting beliefs that put power outside of your control and install empowered beliefs so that you too can be one of the top real estate agents—even in tough times.

    Dr. Maya Bailey, Multiple 6 Figure Income Business Coach for Real Estate Professionals, integrates her 20 years of experience as a psychologist with 14 years of expertise in marketing. Her powerful transformational work creates a Success Formula for Real Estate Professionals ready to create a Multiple 6 Figure Income. To get your free report: “7 Simple Strategies to More Clients in 90 Days” and to apply for an Initial Complimentary Consultation, go to www.90daystomoreclients.com.

    RISMedia welcomes your questions and comments. Send your e-mail to:realestatemagazinefeedback@rismedia.com.

    Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 40 leading brokerages, which make up 575 offices, 30,000 agents, 167,000 closings and represents over $41 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

  • Short Sale Success Faces Hurdles in California: Survey

    Posted Under: Home Buying in California City, Home Selling in California City, Agent2Agent in California City  |  March 9, 2011 4:59 AM  |  570 views  |  No comments

    Short Sale Success Faces Hurdles in California: Survey

    03/08/2011BY: CARRIE BAY Printer Friendly View

    Ninety-four percent of Realtors surveyed by the California Association of Realtors (C.A.R.) participated in a short sale transaction during 2010, demonstrating the growing presence of short sale listings in today’s distressed real estate environment. 

    Despite increased market interest in the short sale as an alternative to foreclosure, C.A.R.‘s study found that fewer than three out of five actually close in California. The trade group says this glaring fact illustrates “the complexity and difficulty of navigating lenders’ and servicers’ short sale procedures.”

    Beth L. Peerce, president of C.A.R., called the ‘three-in-five’ success rate “disappointing.” She said, “Many underwater homeowners who have been hit by the recent economic crisis can no longer afford to stay in their home and just need to sell their home as expeditiously as possible are

    unable to largely because of the complex and cumbersome short sale process.”

    While 10 percent of the California Realtors surveyed said closing their most recent short sale transaction was “easy” or “extremely easy,” nearly three-fourths (70 percent) said it was “difficult” or “extremely difficult.”

    According to C.A.R., the most frequent problems Realtors cited in working with lenders and servicers on a short sale included unresponsiveness, onerous procedures, and long processing delays.

    “The lack of standardization, long approval process, and lack of lender approvals are hampering what should be a 45-day short sale process,” Peerce said. “Instead we’re hearing the typical response time for lenders is at least 60 days, and in many instances, their response time exceeds six months.”

    More than half (63 percent) of Realtors said that lenders took more than 60 days to return a written response of the approval or disapproval of the short sale agreement submitted. Only 4 percent said they received a written response in less than 14 days.

    “The survey results show that the short sale system is clearly flawed and must be standardized and streamlined to reduce the inventory of foreclosures,” Peerce said. “Increasing the number of successful short sale transactions is one important way we can help California families avoid foreclosure and move our economy closer to recovery.”

  • Improve Your Selling Skills and Improve Your Sales


    Improve Your Selling Skills and Improve Your Sales

    Marketing and Sales by Saul KleinPrint Article Print Article

    RISMEDIA, February 4, 2011—I have done a lot of selling over the past 35-plus years—cumulatively at least a few hundred million dollars in personal selling. The largest single sale was a $1.5 million apartment building in the 1980s.

    Most of my sales were just your average, median-priced home or typical duplex, up to 30-unit apartment building, a strip center here and there…and it took me a few years to really get going.

    I sold everything: from condos, houses, apartment buildings, shopping centers, industrial properties, medical buildings, limited partnership interests in real estate investments to stocks (including REITS), bonds, mutual funds, tax services, financial planning services to website services, e-mail services to education programs, online and offline to, finally, the benefits of the Internet itself to the entire real estate industry.

    I never thought I would have a career in selling, but it turned out that way. When I started in real estate, it was not the selling that I fell in love with; it was real estate that was my passion. It was only later that I grew to enjoy the excitement of writing the contract and the “close.”

    What is the point? I arrived at a career in sales by default, which is more than likely the same situation for many in real estate today. So, here you are—where you may never have anticipated you would be—selling to earn a living. How do you make the most of it?

    Effective selling is a skill to be developed for those serious about a sales career. Learn the art and science of sales. There have been many good books written on the subject. Develop a reading list, a schedule and then read.

    Understand persuasion and how it fits into your business.

    Think of yourself as a “helper” (no one wants to be “sold” something). After all, if you are in real estate sales, you are helping people with what is usually their most valuable asset—their home—and something they want to buy (or sell), or they would not be talking to you about it.

    Here is a short list of what I believe is necessary for one to have an effective career in real estate sales (and most of it applies to sales in general):

    - Product knowledge
    - Communication skills—verbal skills and writing skills
    - Access to potential clients
    - Marketing skills
    - Technology skills
    - Financial skills—for business and your personal life
    - Generational knowledge
    - International knowledge
    - Integrity
    - Perseverance
    - Commitment

    And let’s not forget….enough money (capital) to get you through startup and sustain you through the lean times.

    Saul Klein is senior vice president, Point2, author of MLS 5.0 – The MLS of the Future Whitepaper, a licensed real estate broker in California for the past 32 years and 1993 President of the San Diego Association of REALTORS®. Klein created NAR’s ePRO Technology Certification Program in 2001 and NAR’s Web 2.0 & Social Media Course in 2009. Klein has been providing strategic planning and leadership programs to the industry since 1994 and is a 1972 graduate of the United States Naval Academy at Annapolis.

    RISMedia welcomes your questions and comments. Send your e-mail to:realestatemagazinefeedback@rismedia.com.

    Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 40 leading brokerages, which make up 575 offices, 30,000 agents, 167,000 closings and represents over $41 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

  • RealtyTrac Releases Foreclosure Search Widget

    RealtyTrac Releases Foreclosure Search Widget

    03/03/2011BY: HEATHER HILL CERNOCH Printer Friendly View

    RealtyTrac, a California-based online marketplace for foreclosure properties, launched a new foreclosure search widget in February for real estate agents and brokers. The widget allows users to insert a fully functional nationwide foreclosure property search on their Web sites, which delivers real-time foreclosure data from RealtyTrac.

    Members of the RealtyTrac Agent Network can download HTMLcode for their personalized foreclosure search widget for free.

    “We’re proud to unveil this powerful new product to give our member agents another important weapon in their lead-generating arsenal along with our proven exclusive territories and agent connect programs and our popular new rebate referral program,” said Rick Sharga, VP of marketing at RealtyTrac. “Many agents asked if we could provide something like this, and we listened because we know that if they succeed, then we succeed.”

    End-users can search for foreclosure properties – including defaults, scheduled foreclosure auctions, and bank repossessions (REO) – in any county, city, or ZIP code nationwide. Search results are displayed with a search map, allowing users to zoom in and out and drag and drop.

    According to RealtyTrac, the foreclosure search widget also benefits agents by delivering exclusive leads from users who indicate they are interested in a specific property or properties.

    Users are asked to enter their contact information to find out more about properties they click on in the search. Those leads are e-mailed to the real estate agent and appear on the agent’s RealtyTrac dashboard.

  • Congressman Reopens Probe of Countrywide VIP Program

    Posted Under: General Area in California City, Home Buying in California City, Home Selling in California City, Financing in California City  |  February 19, 2011 5:44 AM  |  579 views  |  No comments

    Congressman Reopens Probe of Countrywide VIP Program

    02/18/2011BY: JOY LEOPOLD Printer Friendly View

    Rep. Darrell Issa, on Wednesday asked that a subpoena be issued to Bank of America, requesting the company hand over any documents related to the “Friends of Angelo” program formerly offered by Countrywide Financial.

    The “VIP” program was dubbed Friends of Angelo because it was headed by former Countrywide CEO Angelo Mozilo.

    In 2009 the Senate Ethics Committee conducted an investigation on Senators Christopher Dodd and Kent Conrad’s possible involvement in the program, but the two were eventually cleared of the charges.

    The year-long probe found “no credible evidence” that either senator knowingly took part in the program, which offered preferential loan terms and conditions to program participants but did not offer them to the public.

    According to an extensive report by MSNBC, the Friends of Angelo program wrote hundreds of millions of dollars of loans from 2000 to 2004.

    The organization reports that a former account executive told them people in the program received special treatment, perhaps to help influence the behavior of lawmakers and politicians.

    Rep. Issa’s probe will seek the identities of anyone involved in the program, and gives the company until March 7, 2011 to comply with the orders.



  • California's Million-Dollar Home Sales Gain Traction

    Posted Under: Market Conditions in California City, Home Buying in California City, Home Selling in California City  |  February 15, 2011 11:46 AM  |  609 views  |  No comments

    California's Million-Dollar Home Sales Gain Traction

    02/15/2011BY: HEATHER HILL CERNOCH Printer Friendly View

    Despite a decline in California home sales last year, the number of homes sold in the Golden State for $1 million or more in 2010 rose for the first time since 2005, according to a study from San Diego-based DataQuick Information Systems.

    The research firm notes that California experienced a 9 percent year-over-year drop in total home sales in 2010, including all price levels.

    Million-dollar sales peaked in 2005 at 54,773 and then declined each year through 2009. In 2010, 22,529 homes sold for $1 million or more in California, a 21 percent increase from 18,621 in 2009.

    DataQuick says about one in 20 homes sold for a million dollars in 2010. It was one in 25 in 2009 and one in 16 in 2008.

    “Prestige home buyers respond to a different set of motivations than the rest of us,” said John Walsh, DataQuick president. “Their decisions are less dependent on jobs, prices, and interest rates and more on how their

    portfolio is doing. When the financial world was full of uncertainty a couple of years back and the jumbo loan market dried up, luxury sales plummeted.”

    Walsh continued, “As the economy started its top down recovery, some wealthy buyers went looking for a bargain. Additionally, there has always been a safe-haven component in the million-dollar market that attracts wealth.”

    The vast majority of California’s million-dollar-plus home sales last year were in San Marino in Los Angeles County, Los Altos in Santa Clara County, Atherton and Hillsborough in San Mateo County, and Rancho Santa Fe in San Diego County.

    According to DataQuick’s report, statewide 463 homes sold for more than $5 million last year, 304 were in the $4 million to $5 million range, 782 were in the $3 million to $4 million range, 2,333 were in the $2 million to $3 million range, and the rest-nearly 79 percent-sold for between $1 million and $2 million.

    Based on public records, the most expensive confirmed purchase in 2010 sold for $50 million. The Bel Air residence was the state’s largest million-dollar home sold last year at 35,378 square feet with 15 bedrooms and 7 bathrooms on about 2.2 acres.

    Newly built homes accounted for 5.9 percent of last year’s $1 million-plus sales, down from 6.5 percent in 2009. Condo sales made up 8 percent of the million-dollar category last year, down from 8.3 percent the year before.

    DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies, and industry analysts.



  • California Hopes to Stave off Foreclosures through ‘Keep Your Home’ Program

    Posted Under: General Area in California City, Home Selling in California City, Foreclosure in California City  |  February 14, 2011 5:07 AM  |  616 views  |  No comments

    California Hopes to Stave off Foreclosures through ‘Keep Your Home’ Program

    By Alexander LazoPrint Article Print Article

    RISMEDIA, February 14, 2011—(MCT)—More than 100,000 struggling homeowners could get help from a $2 billion program that California is launching, including about 25,000 borrowers who owe more than their properties are worth and could see their mortgages shrink.

    The Keep Your Home California program, which uses federal funds reserved for the 2008 rescue of the financial system, has the potential to make a sizable dent in California’s foreclosure crisis and help the general housing market. State officials hope to fend off foreclosure for about 95,000 borrowers and provide moving assistance to about 6,500 people who do lose their homes.

    Consumer advocates have criticized other attempts at foreclosure prevention as falling short, particularly the Obama administration’s $75 billion program to help troubled borrowers. They were heartened by the scope of California’s effort but concerned it would be hampered if the state can’t get major banks on board.

    Said Paul Leonard, California director for the Center for Responsible Lending, “Two billion dollars in total for the state to provide assistance to help borrowers avoid foreclosure is a substantial amount of money, and we hope that it will have some significant impacts in achieving its goals.

    “The key to this program is how much the banks are willing to participate and be flexible toward homeowners’ needs,” said Preeti Vissa, community reinvestment director for the Greenling Institute.

    The size of the Golden State’s foreclosure problem was underscored by data showing that 15,893 California homes were seized by big banks last month, the third-worst performance in the nation.

    January’s tally was a 32% increase from the previous month, though still down 7% from January 2010, according to RealtyTrac of Irvine. Nationwide, lenders took back 78,133 properties in January, up 12% from the previous month but down 11% from January 2010.

    “We are not out of the woods by a long shot,” said Rick Sharga, RealtyTrac senior vice president. “Economic factors are what are driving most foreclosures right now, and so the state’s economy being what it is, it doesn’t appear that there is going to be a near-term correction either.”

    The state’s new program aims to address the two central issues facing California’s beleaguered housing market: the state’s stubborn joblessness problem and the massive number of underwater homeowners.

    By keeping some cheap foreclosed properties from reaching the market, the program could give a boost to home values in general. “If they can actually stave off foreclosures and the people stay in the homes, then that is a great thing for the market,” said Stan Humphries, chief economist at Zillow.com. “It would be great because the continuing flow of foreclosures on the marketplace exerts downward pressure on home prices, and it also creates more supply of inventory on the marketplace.”

    The biggest of the plan’s four parts allocates $875 million as temporary financial help to people who have seen their paychecks cut or have lost their jobs, providing as much as $3,000 a month for six months to cover home payments and associated costs. The second-largest chunk of money, $790 million, is slated for a principal reduction program that would write down the value of an estimated 25,135 underwater mortgages.

    Another piece would use $129 million to provide as much as $15,000 apiece to help homeowners get current on their mortgages, and another would take $32 million to provide moving assistance for people who can’t afford to remain in their homes.

    The program is aimed at helping low- and moderate-income people who own only one property. To qualify in Los Angeles County, for instance, a family couldn’t earn more than $75,600 a year. The maximum benefit for any household participating in the program is $50,000. Homeowners who refinanced their homes to take cash out of their properties won’t be allowed to participate.

    The principal-reduction component would pay lenders $1 for every dollar of mortgage debt forgiven. Many experts have said reducing principal on such underwater loans would go far toward reducing foreclosures because home values have fallen so steeply that homeowners are tempted to walk away from their obligations.

    But banks have been reluctant to significantly reduce principal on loans other than on certain kinds of risky mortgages that are now seen as having been highly imprudent.

    “You hear a lot of people calling for it, but there are not a lot of people in the mortgage industry who favor it,” said Guy Cecala, publisher of Inside Mortgage Finance. “There are a lot of issues around who deserves principal forgiveness.”

    Diane Richardson, director of legislation for the state’s housing finance agency, said she expects other lenders to join the principal-reduction program. “We are continuing to have conversations with other lenders about coming on board,” she said. “So if somebody sees their lender, and it doesn’t show them participating, they shouldn’t assume that they won’t be.” Money will be reallocated to other parts of the program if it isn’t spent on principal reduction.

    (c) 2011, Los Angeles Times.

    Distributed by McClatchy-Tribune Information Services.

    RISMedia welcomes your questions and comments. Send your e-mail to:realestatemagazinefeedback@rismedia.com.

    Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 40 leading brokerages, which make up 575 offices, 30,000 agents, 167,000 closings and represents over $41 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

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