Mortgage Market News - Phoenix, AZ

Have you heard peolpe say "my phone just isn't ringing?" The problem is that they don't enough about how phones work, well I should say about how sales works.

In sales the phone ALWAYS rings; either it rings from an inbound call, or it rings from an outbound call.  If you don't hear your phone ringing, do something about it. Who should you call?

- FSBO's
- Expired Listings
- Past Customers
- The last 20 people you exchanged business cards with (you do exchange business cards, right?)
- Your friends
- Cold Call your "Farm Area" (you do farm, don't you?)
- Get out the Haynes Criss Cross Directory and pick a atreet (do they still have those?)

If you're not a natural, don't stress about it, just take action and know that the more you know how to reach out using your phone, the more successful you will be in real estate.

Here is a motivator from the legendary sales trainer Tom Hopkins.
Step 1 Determine how much you make on an average transaction. Lets say its$3,000.
Step 2 - Determine how many calls it will take to close that transaction. Let's say it's 100 (after doing this for a while, you will know what your number is - and you really should know this number).
Step 3. Divide your commission by the number of calls you need to make to earn it and this will tell you how much money you make for placing each call.

Hopefully that will make it a bit easier.

I hope that helps. Consider joining our satisfied agents that get award winning customer service for their clients and benefit from our free coaching and consulting services.

The other day I was in a local deli and I noticed they were accepting $1 donations to support MADD (a great cause by the way).  You know the ones where you pay your dollar and write your name on the card to show that you supported them? Being the perpetual marketer, I thought to myself "I wonder if I could just write my web address on the card?"  I asked the lady behind the counter and she said it didn't matter what I wrote as long as I paid $1.

So now there is a whole wall full of cards that read ATOZLENDER.COM.  Actually, I am kidding about the wall, but I did put it on one card, so every time I go in I see my URL at the counter... and so do all of the customers.

I hope that is helpful, and most of all I hope you can find a similar opportunity in your local area.  It's a double win because it is a great way to support a good cause at the same time.

Do you know of any property owners seeking to get rid of their property? If so, it may worth a finder fee!

My investment group is actively seeking investment properties in the Phoenix area.  Specifically, we are looking for multi-family properties up to 20 units and just about anywhere in Maricopa County. We will also consider good equity position homes, pre-foreclosures, or short sales candidates. 

We are willing to pay a finders fee, or negotiate a commission for licensed real estate agents, for closed transactions.

Thanks!

Considering the fact that real estate agents generally represent sellers, it can get tricky when agents want to purchase homes at a discount from a seller.  I heard a story of an agent who in the middle of a listing presentation low balled a seller, who got pretty upset and "let him go".  The best course of action, I believe, would have been for the agent to contact the seller and just flat out discuss buying the property.  If that fialed, perhaps then he could have offered his services to help the seller sell the property.

If a real estate agent is interested in buying a property listed by another agent, well that's a different story. As long as they disclose in writing (in the contract) in most states they have at least covered themselves.  If the seller has an agent, then it shouldn't be an issue as the seller has some representation. If they are selling FSBO, then perhaps if the seller feels taken, they could try and make a deal about it with the agent's broker or licensing board.

Years ago when I was working as an agent, I was seeking to buy a house and had it under contract with an addendum allowing me to offer the home for sale while I was in my study period.  The seller freaked out when he saw a sign in front of the house because he didn't want his neighbors to know he was selling it. I had every right to put the sign up because it was spelled out in the contract that I could offer the home for sale. I even pointed it out to him, but he just wouldn't listen.  In the end, he threatened to make a big stink out of it if I didn't take the sign down, so I did.  It was a learning experience and had I stuck to my guns, I may have made a hefty profit.  Sometimes, it's just not about the money.

What are some of your experiences in similar situations?

I was chatting with someone who called me today asking me about how to make money with tax lien certificates. His questions was "how could this guy make money in 30 days if most jurisdictions require waiting periods of at least 6 months?". That's a valid question, but as he read what he was reading to me he said that this person made money by selling a tax lien certificate. I asked him to re-read what he just read to find his answer. This person made money by selling a tax lien certificate, not from buying a property using a tax lien certificate and reselling it, as many would think to do.

I went on to remind him that everything is negotiable in real estate. You can sell notes, contracts, options, tax lien certificates, and even things you don't fully own and make thousands of dollars in the process. The key is knoweldge and learning how to do this and moresoe doing it in a legal manner. If you want to learn more about real estate investing, I would like to invite you to one of our free online real estate investing seminars or a local real estate seminar in your area.