Archive for March, 2012

Moments Of Truth

March 26, 2012

Throughout the day, each of us have numerous moments of truth. What is a “moment of truth” you ask? A moment of truth is anytime we have an opportunity to make an impression on another person. That impression can be good, bad or indifferent. Many times we’re not aware that we’ve just had a moment of truth… so much of what we do is done without conscious thought.

In the business of real estate sales, it’s especially important that we consciously manage the moments of truth that occur throughout the day. Prospective buyers, sellers and other agents make decisions whether or not to work with a particular agent based upon moments of truth. If a moment of truth is bad, people may choose not to do business with someone. If indifferent, they’ll be just as inclined to do business with someone else. Moments of truth are really “make or break” moments. (more…)

FHA to Raise Mortgage Insurance Premiums on Apr. 1, 2012

March 19, 2012

HUD announced this month that they were raising the Mortgage Insurance Premiums (MIP) effective April 1, 2012. The Upfront MIP is changing from 1% to 1.75% and the Annual MIP is changing from .90% to 1.25%.

Before you panic about this bad news… the bottom line is that on a $100,000 FHA base loan amount, the payment will increase less than $7 per month as a result of both MIP premium increases. (more…)

Shake Hands, Don’t Shake Down

March 12, 2012

Do you remember when Julia Roberts dressed in her “street” clothes and shopped on Rodeo Drive, and she was snubbed? Then, she came back looking like “money” and they were all over themselves trying to get her business. She reminded them of her past treatment and said “HUGE MISTAKE, HUGE”. I have actually heard similar stories from customers recently who were very upset that their agent talked about money before they even had an opportunity to talk to the customer about their wants and needs. I agree with Julia: Huge mistake.

I think two things come into play here. First, we’ve been conditioned from real estate birth to find out if our prospect qualifies to purchase. Today’s customer is really quite offended by the money conversation right out of the gate. Today’s buyer wants to know if their agent cares about them and can give them the level of service they expect. There’s nothing wrong with having them qualified by a mortgage company, in fact it’s beneficial to everyone, but only after you’ve established a relationship with the customer. Give them a chance to see if the relationship is a good fit for them and for you. (more…)

How to Start Your Own Blog

March 5, 2012

Thinking about starting your own blog?

I have a few tips to get you started. Metro Brokers’ Blog has remained successful, with thousands of views each month. In fact, this entry marks its 200th post.

While blogging is definitely a form of social networking, it can help you in ways that Facebook and Twitter can’t. It’s a great outlet for your business knowledge and personal views, and you can go into much greater detail than on other social networking sites.

Just be sure that you have time to dedicate to it. (more…)