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Monday, 7 October 2013

Developing A Strategy For Real Estate Mobile Marketing

by: Dave Spearson

Virtual Property Brokering - The Perfect Business Realtors are constantly seeking new ways to control business costs, in a slow market. Placing print advertisements, and printing up fliers to leave at listings, may eat a sizable portion of a realtor's budget. Fortunately, real estate mobile marketing, as part of an overall digital strategy, provides a no-paper, low-cost avenue for reaching potential clients. This type of marketing also helps realtors to be more proactive with advertising, rather than reactive.

Mobile marketing is defined as communicating with customers via a mobile device. This capability appeals to a clientele that is rapidly growing more technologically sophisticated. Realtors who have mobile capability may assist buyers twenty-four hours a day, seven days a week. This availability gives the realtor a competitive advantage, in the recruitment and retention of clients.

Realtors are set back in a reactive position with print ads, and even with websites. In both cases, realtors have to wait for clients to contact them about the property. Even fliers will never be picked up unless a client actually sets up a property showing. Ideally, realtors should be able to proactively market their listings to potential clients. Mobile capability will give realtors a platform in which to be more assertive, while, at the same time, saving money.

Digital advertising may be realized in a number of ways. When realtors list a new property, for instance, they may choose to send the information to clients, using text messaging. Or, when an open house is about to begin, realtors could sent a text message to interested clients in their database.

Realtors should also take advantage of SMS. For instance, realtors could establish a service, in which clients could text a keyword to a specific number, and then receive property listing information, right on their smart phone. SMS would replace the hassle of printing and carrying fliers to every property site, producing a savings of both time and money, while still delivering a valuable service.

Advertising is only one aspect of an overall digital strategy. Many clients use their phones to look at property information online. For this reason, realtors should ensure that their websites are easily navigated with a smart phone, and that they do not publish too much Flash content. Additionally, good visuals on a website are important, and realtors may even consider adding a video element to their pages.

Of course, there are even less expensive alternatives for digital strategy. One idea is for realtors to list homes on real estate websites, like Zillow or Trulia. Both of these websites feature high-quality mobile applications, and are rich in visual features. Another idea is for realtors to use social media to communicate with their client base.

Real estate mobile marketing gives realtors new, fresh ways to reach out to potential clients. Web and phone-based services offer convenience to clients, at a low cost to realtors, thus helping them to recruit and retain more prospective buyers. Utilizing all of the capabilities of computers and smart phones allows realtors to match their services to the technological savvy of their client base.

Dave is a real estate professional who specializes in real estate text message marketing. Click here for more information.

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Virtual Property Brokering - The Perfect Business

Imagine if you could make money without your own product to sell. Sound Ridiculous? Not really. Consider agents and brokers. These people are the ‘middle men’ who put sellers and purchasers together earning a tidy commission along the way. Now it’s possible to replicate this online. Welcome to the world of two tier affiliate marketing or virtual property brokering.

The internet is an amazing technological development. It is essentially a gigantic marketing machine that allows the entire world to be anyone’s ‘shop front’. Some people prefer the ‘nuts and bolts’ of mining, harvesting or manufacturing a product, other people prefer the distribution of goods far and wide, whilst others simply offer services that assist specific business needs. The common goal of all these operations is to make money.

Now, if I was to suggest you could start up a business in any of these sectors over night I would be lying. If, for example, you wanted to build houses you would need land, building materials, tradesmen and a big wedge of cash at the very least. If you decided building houses was too unrealistic you might consider setting up as an estate (property) agent but you would still need an office, some clients, a reputation and a whole load of time and money to spend before you got anywhere at all.

There is, however, one industry sector that you can get involved in over night without a single product. It’s called virtual property brokering or two tier affiliate marketing. What’s more, you’ll be surprised to learn that you don’t need a web site, or even any marketing experience.

Virtual property brokering is an amazing strategy for generating an online income using a two tier affiliate marketing program. Affiliate marketing is a simple concept based on someone promoting someone else’s product in return for a commission received for any sales they generate. The promoter is known as the ‘affiliate’ and there are thousands of affiliate marketing programs which any one can sign up to online. Remember as an affiliate you will only earn a commission if you make a sale.

Here’s an example. Let’s say you found a site selling golf equipment that had a one tier affiliate program. If you signed up, you could go and promote those products and earn, say, 50% commission for every sale you made.

A two tier affiliate program takes the process a stage further to generate even more commissions. Using the golf equipment example again, if the affiliate program that you signed up to was a two tier program you could then go and recruit second tier affiliates. These would be people who either have a large email list or a web site related to the golf niche you are promoting. If they promoted, you would get a percentage of their sales too, which could be around 10% for example. You could literally have commission earnings pouring in using this method.

Let’s break this down:

Step One - you haven’t got a product, a web site, or any marketing experience.

Step Two - You find someone looking to sell more of their product such as the site owner with the golf equipment two tier affiliate program. (you can do this by typing ‘whatever niche’ affiliate programs into google and seeing what comes up).

Step Three - You find someone capable of selling more of their product (someone with either an email list or web site in the golf niche).

Step Four – You bring the people in steps two and three together through one simple email which introduces the marketer to the site you are brokering for. The email is just an invitation for them to check out the program. It explains they can make more money by simply sending out a promotion to their email list or adding a graphic to their web site. To find out more they just need to click on your link (this will be provided to you by the web site for the two tier affiliate program).



That’s the outline of how this model works. Two tier affiliate marketing is the perfect way for anyone from the internet newbie to the more experienced marketer to accelerate their online income to a whole new level. Plus it doesn’t require a web site, your own product or even doing any marketing or spending a single cent. This is definitely, in my opinion, one of the best low risk low cost strategies there is to earn a substantial online income.

Saturday, 5 October 2013

How to Put in Writing Offers to Acquire REO Properties

by: David M Arnoold, MSSW

Lots of savvy home buyers and investors want to hit the top prize and procure that REO foreclosed home many of which are often under-priced. With the REO market continuing to climb for the next 4 to 5 years before there is some relief, many of the banks price REOs under the comparable sales. The results are multiple offers. This means the competition for that bank-owned property is stiff. Depending upon the area of the country that is hit hardest by home foreclosures, it's not uncommon for various REO homes to receive 15 or 20 offers. Now and then the bank will dismiss at home all but two offers and then ask the selected buyers to resubmit what is called "Highest and Final" offer. Occasionally the bank simply accepts the top offer at inception. If you're wondering how you can make your offer shine greater than all the competition and be the winning offer, here are a few tips to help you choose the right offer and terms:

1) Understand the History of the Property - Ask your buyer’s agent to find out the bank's purchase price on the Trustee's Deed or Sheriff's Deed. In general, it is noted on the record itself, which you can obtain from the tax rolls or a title company. Compare the purchase price to the value the bank is asking. Look at the amount of loans that were previously held to the property. Somewhere between the first mortgage balance(s) and the foreclosure sale price is the amount the bank will take, if the property is under-priced. This is a good time to mention the consequence of working with a realtor that specializes in REO homes. You can effortlessly find these real estate agents in your area. Whoever has the largest REO's listed on MLS is who you want to work with. Their task is to promote the properties and be the mediator involving you and the bank.

2) Assess Market Comps - In many cases, the asking price has little influence on the worth of the home. The market value carries the most weight. If you are up against competing offers, other buyers will offer more than asking price.

• Look at the previous three months (90 days) of comparable sales, a mini CMA (Comparative Market Analysis) for that vicinity to determine how much this REO is worth. Try to use only those properties that most closely match the REO regarding square footage, number of bedrooms, baths, amenities and condition.

• Look at the pending sales. Ask your agent to call the listing agents of those pending sales to try to determine the accepted offer price. Some will share that information and some will not.

• Look at the active listings. Those are most likely the listings other buyers will use to put together a price because they are the only homes those buyers actually tour.

3) investigate Listing Agent's REO Sold - Most REO agents work for several banks. Some listing agents are exclusive listing agents for REOs, and they do not list any other type of property. Since REO agents deal in volume, they typically apply the same pricing principles to all their REO listings.

• Ask your buyer's agent to look up the listing agent in MLS.

• Run a search using that listing agent's name to find the last three to six months of that agent's listings.

• Pull the history of those listings to determine the list-price to sales-price ratio. If many of those listings are selling for, say, 5% above list price, then you may need to offer 6% over list price, and vice versa.

4) Inquire About the Number of Offers - If there are no offers on the REO home, you can probably offer less than list price and get your offer accepted. However, if there are other than two offers, you will most likely need to offer above the asking price. If there are 20 offers, bear in mind that some of those offers might be all cash. Banks like all cash offers. If you are obtaining financing, then you may need to increase the price on your offer to be considered.

5) Submit Preapproval Letter - It goes without saying that you do not want a prequalified letter. You should have a preapproval letter. Get preapproved from your choice of lender in advance. If you are using a hard money source, they can provide you with a letter as well, in most cases. Moreover, get preapproved by the lender who owns the property. Do not expect to use this lender for your loan, but submit the preapproval letter from this lender, along with the letter from your own lender. Banks don't trust other lender preapprovals but trust their own departments.

6) Don't Ask for Repairs / Inspections - occasionally banks will pay for repairs, but typically will not agree to do so at the offer stage. If there are problems found during a property inspection renegotiate after your offer has been accepted.

7) Shorten the Inspection stage - If other buyers ask in place of 17 days, for example, to conduct inspections, and you ask for 10, you will be deemed the more serious buyer. However, your offer can dash to the top by asking for 0 days inspection. Remember, banks are eager to get rid of the properties.

8) Offer to Split Fees - Some banks will not pay transfer fees. If the buyer offers to split those fees, the bank can feel more open to to accepting the offer. Same thing goes for escrow fees. Many banks negotiate reduce fees for title insurance. If the bank will pay for the owner's policy, the ALTA policy might cost a smidgen more. But it's still a good idea to let the bank choose title if you want your offer accepted.

Consider the Appraisal Consequences

If you offer over list price, bear in mind that the appraisal will need to substantiate that outlay. If you find yourself dealing with a low appraisal, you have options, so don't despair. Remember, the bank will most likely run into this issues with the next buyer who obtains financing.

In conclusion, I have provided you with eight strategies to consider in buying a REO property. Banks are eager to sale just as much as we are eager to purchase. To move to front of the line and dispense your competition, several things need to be oraganized. Find an REO realtor with the purpose of working with the banks and can collect the information for you. Do your own inspection and submit the results with your offer. By doing this, you can give the banks 0 days for the inspection period and they know that you are a serious "as-is" buyer. Your offer be supposed to be compared to sales in the prior 90 days only. You want to make your offer the lowest that the bank will accept, so determine what the bank purchased the property for and what the market will bear. In short sales, you can offer 82% od the BPO (Broker Price Opinion) minus the repairs and still have a good qualified offer that is below market value. After you get the property secured, you can flip the property to a buyers list for quicker profits. Do a back-to-back close and you can make thousands of dollars for working smarter and not harder. Stream line your game plan and you can and will have a very rewarding real estate investing career.



David M Arnold is an experienced Therapist, Counselor, Mediator, and Life Coach that brings his personal experience to help you achieve success. Areas of interests include Relationship Development, Business Development, Real Estate, Financial Coaching, Internet Marketing, and Healthcare.


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Friday, 4 October 2013

How Real Estate Investors Should Market for Probate Leads

by: Duncan Wierman

Marketing for probate leads is much different than marketing for other type of properties. You do not have to be as aggressive as you do with other types of real estate. You are not facing as much competition and once you know where to look for leads you are set. That is really all there is to it. You have many options in where to find leads for probate real estate. The following will outline some great places to get leads and give you some tips to help you along the way.

Top Places to Look for Leads

The thing about probate investing is that it is quite a specific market. Where to look for leads is rather obvious when you think about it. Probate real estate is available because someone has passed away and left it behind. In most cases they will leave it to heirs, who are ready and willing to sell. All you have to do is find these heirs.

The first place to market for probate leads is with probate attorneys. You can pass your business card or even some brochures to probate attorneys who will then pass your information onto clients. It is the perfect way to find leads and the most simple option. However, you may not be catching every possible leads since not everyone will use a probate attorney.

Your other options are to advertise in local online newspapers on the internet and with local realtors. You can often gather up quite a few leads through these methods. Many people have no clue what to do with real estate that they have acquired. All they know is that they would rather have money for it than to be responsible for the property. They see your ad and they discover that you can help them.

Another option that you might consider if you are having some trouble getting leads through the other methods is to just get in the car and drive around. Look for abandoned properties. Then do some research to find out if what you find is a probate property.

Useful Tips

When you are marketing for probate leads the following tips can be a big help in assisting you to find good properties and to close the deal on them:

- If you are not sure of how to contact an heir on a property you have found then look at court records. These are public records that will be able to give you quite a bit of information.

- Do not be afraid to work with realtors. You might fear that you won't get a good price if you have to work with a realtor to get a property, but you have to understand that with probate real estate you often have no choice. Many heirs will not live in the area and will choose to have a realtor represent them. You either deal with the realtor or lose the property.

- Be ready for anything. Probate real estate are usually sold "As Is". The seller will not want to put money into fixing things and many times they will sell the property with all of the belongings and items still inside. This is not always bad. You may actually find some hidden treasures that could be rather valuable and prove to be profitable, letting you earn a little extra on the deal.

- Consider having cash ready. Sellers of probate real estate want to just get the deal done fast. If you have cash for them then chances are they will take whatever deal you offer and close the deal quickly.

Marketing for probate leads is pretty easy. Once you get started you will find that things take off rather quick and there is little to no need to do much more marketing. You can usually find a steady supply of leads through attorneys and some advertising. The probate market is pretty healthy no matter what the economy is doing, so it offers some stability that you can't find in other types of real estate investing. It really is worth your time to get yourself started in probate investing. There is no better time to get started right now. The market just keeps growing and there are plenty of great opportunities waiting for you.

Duncan Wierman is a full time investor in Greenville, SC. After spending $1,000's on courses and seminars that did not work (and were nothing more than sales pitches for more product, he finally decided enough was enough and release his own Hype free Probate real estate investing course and software to help people succeed. http://www.ProbateProfitsSystem.com

Virtual Property Brokering - The Perfect Business

Lots of new business ideas, newbies friendly make money online
the easy way, step inside and learn how to make lots of money
using our ideas clone your way to success
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