VanEd Newslog

Finance Friday: Foreclosures Affecting Retirement Security

A study released by the Boston Center for Retirement Research shows that security of retirement will be affected by the foreclosure market between now and the end of 2012. Housing wealth gained by soon-to-be retirees from 1992 - 2004 was largely lost in 2010 resulting in stretched retirement savings. While foreclosure rates are overall much lower in older households, an increase in arrears and foreclosure rates is predicted over the next 2 years. Potential reasons for this increase include a trend toward rising mortgage values, home equity lines of credit, and high loan-to-value ratios in addition to an overall decline in financial wealth. Declines in house prices will likely effect retirees that desire to downsize their primary residence in exchange for a potentially better financial position. All of these factors combine to create increased pressure on retirement resources.

Have you saved enough for your retirement? Maybe it's time to take a look at your financial future. If you are not satisfied with the growth you are achieving with your current investments, make yourself aware of the full spectrum of retirement investment options available to those with Self-Directed IRAs by visiting NewDirectionIRA.com.

You can read the entire study online by using this link -> http://crr.bc.edu/images/stories/Working_Papers/wp_2010-17.pdf

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA. Reach them online at www.newdirectionira.com.

 

Q&A with Jennifer Allan - "How Can I Compete with a Minimum Service Real Estate Company?"

We asked author Jennifer Allan-Hagedorn to answer questions based on her teaching and experience in the real estate industry. Jennifer is also a regular contributor to Realty Times and other online media outlets. 

"Dear Jennifer,

Lately I am running into sellers who "have to get every nickel out of their home." They ask me if I’ll reduce my commission because there are other agents in my market who will list their homes for a flat fee. I find myself talking too much, trying to defend my commission and how hard I work for my sellers.  I argue that in this slow market, sellers need an agent who shows up every day with a strong marketing plan and a commitment to see it through til the end.

How can I convince a seller prospect that I cost more because I’m worth more?”

JENNIFER'S RESPONSE:
Well, as you're seeing, defending your commission isn't working. Arguing isn't working. What does work is a quiet confidence that you are TRULY worth your fee. Not because you need it and not because your broker doesn't allow you to charge less, but because you bring that much value to the table. You must know this yourself before you can convince anyone else.

You may not be doing a good job communicating that confidence to the seller. You don't communicate confidence with arguments or graphs or charts or lectures. You do it by walking into that appointment with a sincere desire to help and the knowledge that you can help. Not as a salesperson trying to "win" a listing, but as an expert advisor who is very likely the best (wo)man for the job.

I'm sure you've heard the old adage - "People don't care how much you know until they know how much you care." If a seller feels you are there in his home to truly help him, over and above your desire to get that agreement signed, he'll be much more willing to trust you. And once he trusts you, he'll be more open to hearing about why you're so wonderful. But you can't actually tell him you're wonderful, you have to show him.

How?

By knowing your market cold and being able to discuss it intelligently and calmly. By letting him do most of the talking and really listening. By having a plan to sell his home that is thoughtful and personal to him and his situation.

This may sound a little vague, but it's an attitude shift that is truly magical once it clicks. In short - as soon as you go into defense mode, you've shot your credibility.

 Stay tuned for more tips on defending your commission!

 

Subscribe to "The Daily Seduction: Tips & Inspirations to Generate Business from Your Sphere of Influence." (a free newsletter)

Have a question or comment for Jennifer? Email it to info@vaned.com! 



Guest Author Jennifer Allan-Hagedorn has authored five books and multiple courses designed to teach agents her Sell with Soul philosophy that centers on four interrelated principles: Respect, Competence, Confidence and Enthusiasm.  The latest release of her book is available in the VanEd bookstore. You can also visit her online at www.sellwithsoul.com or attend one of her free teleseminars on a variety of topics of interest to the real estate community.

VanEd Presents: UAD Regulations for URAR Appraisal Reports--a short review

As you may know as of September 1st, 2011, appraisers will be required to make some significant changes in the way they prepare the URAR appraisal report. Fannie Mae, Freddie Mac, FHA, and the VA are going to require all appraisal reports be transmitted electronically in a standardized format.

NOW ONLINE: VanEd's UAD Regulations for URAR Appraisal Reports--a short review course written by Henry Harrison, MAI, covering all the relevant changes and information on completing reports under the new guidelines. This line-by-line guide is $39.

CLICK HERE to select your state and enroll--select Appraiser CE and scroll down to the UAD course.

The course is entirely online, and you can login and out over as much time as you need to review the material. Step-by-step instructions on the changes and the relevant sections in the report are all displayed within the course. Students can print any sections for review offline as well.

If you have any questions, please email us at info@vaned.com. We're here to help!

& please note: NO CE credit is associated with this review currently.

Designation Spotlight: ABR ~ Accredited Buyer Representative

VanEd offers the ABR® - Accredited Buyer Representative designation, online! The ABR® designation is awarded by REBAC, the Real Estate Buyer's Agent Council to REALTORS® who complete the ABR® course and one elective course. VanEd also offers all of the optional elective courses to help students complete the educational requirements toward the designation.

Successful candidates will also need to submit documentation verifying five completed  transactions where they were the Buyer Representative. (Transactions closed prior to  taking the ABR® course or within three years after will count)

Visit www.vaned.com/ABR for more information on this prestigious designation now offered through VanEd! This course may also be used for up to 12 hours of CE credit in many states. For information on which states, or to register for the course, Click Here!

Let REPA help you increase productivity in an ever changing market

Real Estate professionals are finding more and more that contact and communication with customers is the single most critical aspect of client retention. Finding time to manage all of your contacts as well as your transactions and inventory is becoming more and more difficult as agents begin refocusing their prospecting efforts. One solution may be to hire or re-train a professional assistant to better be able to manage the day to day operations of your real estate business.

If you are ready to hire, or already have, a professional assistant, now is the time to have them focus their training to industry specific topics. If you are looking to get into the real estate industry as an assistant you can not come with better references than already having been trained.

The REPA^sm two-day certificate course provides an intensive introduction to the real estate business and to the specific ways support staff can become valuable assets to their employers.

During the program assistants will learn the basics of real estate ethics and will gain an understanding of transaction management. Agents are encouraged to have all of their support staff and assistants complete the training and earn the REPA^sm Certification. For more information on this program visit www.vaned.com/REPA.

Q&A with Jennifer Allan - "How Do I Become a 'Listing Specialist?"

We asked author Jennifer Allan-Hagedorn to answer questions based on her teaching and experience in the real estate industry. Jennifer is a regular contributor to Realty Times and other real estate publications. This week she continues her discussion from last week on "Listing to Last." 

Question: "I want to be a listing specialist so I don't have to work with buyers. Any tips?"

JA: Absolutely! But you may not like what I have to say on the matter. When I think of a “specialist” in real estate, I imagine that person to understand the entire process of marketing, selling and closing a home sale. And, to my way of thinking, someone who specializes in the exchange of real estate should have an intimate understanding of the Very Important Person on the other side of the table - the BUYER.

In my never-to-be-humble-opinion, if a real estate agent doesn’t work with buyers on a regular basis, he may not have the expertise to accurately price homes for market. I know a few agents who have dozens of For Sale signs in my market area, yet have never shown or previewed one of my listings. I don’t understand how they can be a neighborhood expert when they don’t know the competition, and more importantly, don’t have an understanding of how buyers think.

When you work with buyers and sellers equally, you can help a seller look at his home through the eyes of a buyer… and the buyer’s agent. You'll know what is currently in vogue with the local buyers. You'll know what will WOW a buyer as he walks in the door…and what will immediately turn him off.

You can advise your seller client on the upgrades and improvements that truly matter in your market, even specific to his particular neighborhood. You'll know how important a walk-in closet is… or isn’t. You'll know if buyers will overlook a dated kitchen… or if they won’t. You'll know if buyers will balk at the lack of a garage… or if they will be tickled just to have off-street parking.

You'll know how much value to add for being close to a popular coffee shop… or how much to subtract for being on a bus route. You'll know how to price an asbestos-sided house so that buyers will consider it… over the vintage brick Tudor they really want.

The real estate market changes on a daily basis and data from the MLS tells only part of the story. What you knew about the market six months ago is irrelevant to the market conditions today. To truly be a “listing specialist,” you must also be committed to knowing the inventory… and to knowing the buyer.

And Knowing the Buyer makes you a Listing Specialist.

 

 

Subscribe to "The Daily Seduction: Tips & Inspirations to Generate Business from Your Sphere of Inluence." (a free newsletter)

Guest Author Jennifer Allan-Hagedorn has authored five books and multiple courses designed to teach agents her Sell with Soul philosophy that centers on four interrelated principles: Respect, Competence, Confidence and Enthusiasm.  The latest release of her book Sell with Soul is available in the VanEd bookstore. You can also visit her online at www.sellwithsoul.com.

Q&A with Jennifer Allan - "Should a New Real Estate Agent Focus on Buyers or Sellers?"

We asked author Jennifer Allan to answer questions based on her teaching and experience in the real estate industry. Jennifer is a regular contributor to Realty Times and other real estate publications. This week she discusses "Listing to Last."  

Question: Everyone tells me that you have to “List to Last” and that I should focus my prospecting efforts on finding sellers instead of buyers. But I prefer working with buyers! Will I fail if I don’t have a lot of listings?

JA: NO! As a new agent, you’re probably better off working with buyers, actually! Why?

· You typically develop closer relationships with your buyers, thus increasing the potential for referrals.

· When you work with buyers, you work harder. And that's good? Oh yeah, that's good. When you're new, you need to stay busy.  An active buyer will keep you hopping.  An active listing? Not so much.

· You learn more about the overall home-buying process when you work with buyers. You're intimately involved in almost every step of the transaction, from showings to offers to inspections to loan approval. This knowledge will serve you well when you act as a listing agent.

· When working with buyers, if you're observant, you'll see most (but certainly not all) of what a listing agent does. You'll learn a lot about both sides of the deal, where when you list you don't see much of what the buyer agent is doing.

· You will learn your market!

The reason experienced agents advise you to focus on listings is because once you get busy, you can only handle so many buyers, since buyers are more time-consuming than listings. And this is true. One agent, working alone, can theoretically handle dozens of active listings, while it’s probably not practical to try to handle more than a half-dozen active buyers at a time.

(Another reason given for “Listing to Last” is that when you have listings, you will generate calls from buyers, although I don’t buy that one. There are plenty of sources for buyers outside of a For Sale sign in a yard.)

Anyway, do you have to List to Last? Probably not. As you gain confidence in yourself, you’ll likely want to handle both buyers and sellers (which is the topic of my next article!), but for now, know that if you’re "only" working with buyers, you’re doing just fine!

   Subscribe to "Confidence Builders for Rookie Real Estate Agents" (a free newsletter)

Guest Author Jennifer Allan-Hagedorn has authored five books and multiple courses designed to teach agents her Sell with Soul philosophy that centers on four interrelated principles: Respect, Competence, Confidence and Enthusiasm.  The latest release of her book Sell with Soul is available in the VanEd bookstore. You can also visit her online at www.sellwithsoul.com.

We asked author Jennifer Allan to answer questions based on her teaching and experience in the real estate industry. Jennifer is a regular contributor to Realty Times and other real estate publications. This week she discusses "Listing to Last."  

Question: Everyone tells me that you have to “List to Last” and that I should focus my prospecting efforts on finding sellers instead of buyers. But I prefer working with buyers! Will I fail if I don’t have a lot of listings?

JA: NO! As a new agent, you’re probably better off working with buyers, actually! Why?

· You typically develop closer relationships with your buyers, thus increasing the potential for referrals.

· When you work with buyers, you work harder. And that's good? Oh yeah, that's good. When you're new, you need to stay busy.  An active buyer will keep you hopping.  An active listing? Not so much.

· You learn more about the overall home-buying process when you work with buyers. You're intimately involved in almost every step of the transaction, from showings to offers to inspections to loan approval. This knowledge will serve you well when you act as a listing agent.

· When working with buyers, if you're observant, you'll see most (but certainly not all) of what a listing agent does. You'll learn a lot about both sides of the deal, where when you list you don't see much of what the buyer agent is doing.

· You will learn your market!

The reason experienced agents advise you to focus on listings is because once you get busy, you can only handle so many buyers, since buyers are more time-consuming than listings. And this is true. One agent, working alone, can theoretically handle dozens of active listings, while it’s probably not practical to try to handle more than a half-dozen active buyers at a time.

(Another reason given for “Listing to Last” is that when you have listings, you will generate calls from buyers, although I don’t buy that one. There are plenty of sources for buyers outside of a For Sale sign in a yard.)

Anyway, do you have to List to Last? Probably not. As you gain confidence in yourself, you’ll likely want to handle both buyers and sellers (which is the topic of my next article!), but for now, know that if you’re "only" working with buyers, you’re doing just fine!

   Subscribe to "Confidence Builders for Rookie Real Estate Agents" (a free newsletter)

Guest Author Jennifer Allan-Hagedorn has authored five books and multiple courses designed to teach agents her Sell with Soul philosophy that centers on four interrelated principles: Respect, Competence, Confidence and Enthusiasm.  The latest release of her book Sell with Soul is available in the VanEd bookstore. You can also visit her online at www.sellwithsoul.com.

Improved Energy Efficiency ~ where do you start?

Maybe your clients want to qualify for an energy efficient mortgage, or maybe they just want to make their existing house more efficient. In either case, the best place to start is with a home energy rating. This information is brought to you by VanEd and EcoBroker. For more information on Home Energy Ratings, click here to read an article from EcoBroker. You can learn more about the EcoBroker designation by visiting www.vaned.com/EcoBroker.

An energy rating can provide a home owner with a detailed picture of their home’s energy performance, and also recommend the most appropriate and cost-effective options for improving its efficiency. Many times, these energy efficiency upgrades can significantly increase a property’s resale value!

Energy ratings are performed by Certified Home Energy Raters, and can be performed on both new and existing homes. They may also be used to qualify a home for an energy-efficient mortgage.

 

Designation Spotlight: Completely Revised! SRES ~ Senior Real Estate Specialist

Van Education Center offers the online SRES^®, Senior Real Estate Specialist designation course. The SRES^® Designation course will instill a new level of knowledge and understanding of the 55+ real estate customer. Agents who complete this training will gain the skillsand recourses needed to serve this special and growing segment of the real estate market. And now the program has been COMPLETELY REVISED! Baby Boomers represent the largest and wealthiest group of buyers and sellers in the country. Understand what motivates this growing market and how to address their needs.

The SRES^® course also receives MRE, Master of Real Estate Credit and can be used as an MRE elective for those candidates who wish to learn more about this specialized market. You can learn more and enroll by clicking here.

VanEd is proud to provide access to the SRES^® training online through our Designations Page online and the MRE, Master of Real Estate designation, visit our designation information page online at www.vaned.com/designations.

Note: The SRES online course is available for CE Credit in Idaho, Texas and Washington. If you desire CE credit in Colorado please contact VanEd prior to registering for this course.

If you have any questions about the SRES^® designation or any other designation program, contact us at info@vaned.com and we'll be happy to help!

From all of us at VanEd, have a safe and happy Independence Day weekend!

To honor America and to allow our staff and instructors time to be with their families, Van Education Center offices will be closed through July 4th, 2010 in honor of Independence Day. We wish you and yours a happy and safe holiday weekend. We continue our ongoing support of our Veteran's by offering a 10% discount on our products to those who have served our country. We Thank You for your service.

Our offices will re-open on Tuesday July 5th for regular business hours to serve our members. Students may continue to work on their online courses during this time, and questions may be posted online in the Q&A's. We will respond as quickly as possible. You can also follow us on Twitter  and our team will be able to respond quickly there as well. Just click the handy blue button.

Want to learn more cool stuff about Independence Day? Check out the USA.Gov page on Independence day where you will find a link to the U.S. Census Bureau's Fourth of July Fun Fact Information Sheet where you will find that Eleven places have "independence" in their names (which we think is...well...a fun fact!) >>> Click Here

 Happy Independence Day! And if you are looking for a hefty discount on a CE course that we might offer, visit our Facebook page and answer our trivia question: Which of those Eleven places mentioned  above is the most populous? Click this other nifty button to visit our Facebook page and then simply post your answer on our wall to enter! That's all there is to it! We'll pick all of our winners by July 10th.