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Greetings!
Welcome to this edition of the OwnerLand Realty Virtual Sales Meeting!
Whether or not you are an OwnerLand agent, our sales meeting is packed with important information to help your real estate business grow.
Every issue includes hot real estate topics, market comparative analysis, and more!
Agent participation is welcome! If you have information, an article, or even a recipe you would like to share with everyone, please email us at weekly@ownerland.net. |
| First Annual Realtor Nationwide Open House! |
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| Business is Picking UP! |
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Get Out There and GET YOUR BUYERS!
NOW is the time to cultivate your business and get your buyers motivated to buy!
We are seeing an influx of activity at the office! Reports of Multiple Offer situations are on the rise indicating a jump in business in our market. Now is a great time to touch your prospects and remind them that they can still take advantage of the Federal Tax Credit! With interest rates still low, this may be the BEST time for your clients to buy! Make sure you remind everyone that you are a real estate agent. Don't assume that people will remember! Out of sight is out of mind!
Remember, you must have an accepted contract on your deals by April 30th and closed by June 30th in order for your buyer to qualify for the Tax Credit.
Be sure to talk to Ginni if you are looking for ways to market yourself. She has several, low cost ways to impact your database. Take advantage of the resources available to you. A little bit of planning will go a long way!
Have a successful year in 2010!
Back to Weekly Agenda
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Beware of this Scam!!!
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Possible Local Scam Reported by Cinci agents and the Pikes Peak
Board of REALTORS
OwnerLand agent, Mark Miller, has experienced this scam!
There is a possible scam targeting REALTORS in Greater Cincinnati,
Colorado Springs and other markets. Someone is posing as a Chinese
real estate buyer (names used so far include Qiu Zilei and Harry
Chang) is contacting local Realtors.
The scammer replies to e-mails and usually requests and digitally
signs purchase agreements for expensive property. The scammer insists
on sending the purchase money ahead of his arrival to the USA from
China. Eventually, a very real looking, but fraudulent, cashier's
check is received. If the check is deposited the scammer will quickly
request the receipt which enables him to withdrawal some portion of
the funds.
Please be aware that this is happening locally. The scammer is asking
for the Realtor to retain a lawyer on his behalf so that the funds
can be placed in a trust account for the scammer.
If you have experienced this, consider contacting your local police
department and make them aware of this possible scam.
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| Combining Commissions and Flat Fees |
 Brokers can Combine Commission , Flat Fee on HUD 1
Flat-fee disclosures combined with commissions and listed on the HUD-1 sheet get government approval in an unofficial clarification by the U.S. Department of Housing and Urban Development.
HUD attorney Helen Kanovsky explained the procedures affecting real estate practitioner commissions in a recent letter to one of the lawyers involved in an ongoing class-action lawsuit involving commissions.
Kanovsky said that the commissions and flat fees could be combined on a single line of the HUD-1 settlement sheet as long as they are spelled out in the listing agreement or the buyer's broker agreement.
Lawyers involved in the class-action suit advise that to avoid confusion--and lawsuits--practitioners should define the commission as equal to "X"% of the sales price plus "Y" dollars.
Kanovsky warned that if the total real estate broker fees on the HUD-1 are greater than the amount in the real estate listing agreement or the buyer's broker agreement, HUD might review the excess charge to determine whether additional services were provided.
"Any charge for which no or nominal services are performed or for which duplicative fees are charged would violate RESPA," she wrote.
Also, administrative fee charges without a contractual relationship with the buyer, might violate RESPA, according to Kanovsky.
Source: Inman
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| Century Land Title |
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Legal Questions?
Call John Yonas of Century Land Title at (513) 863-9100
Land Contracts
Did you know that Land Contracts CAN qualify for the Tax Credit!!! The key is to use a knowledgable title company that know how to satisfy the requirements of the tax credit.
Call Century Land Title TODAY to find out more! 513-863-9100
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 Service Provider List
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Do you know a good contractor?
OwnerLand Realty would like to compile a database of GOOD service providers; professionals with a good track record and reputation. If you know somebody, send me an email at jeff@ownerland.net and we'll see about adding them to the list. Remember, a referral that you give one of your clients can make you look good or bad! Let's be sure to protect our image!
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FUN STUFF
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| MORE REAL ESTATE ARTICLES & VIDEOS |
- 4th Quarter Sales Surge. Prices Up in More Markets... Article
- Realtors Strive to Reduce Stress in Short Sales....Article
- Many Buyers Rely on FHA Loans....Article
- Marketing. . .Why Some Ads Work and Some Don't....Article
- 3 Tips to Delay or Stop Foreclosure....Video
- NAR Launches New Consumer Website....Article
- Market Conditions...Article
- Realtors Support Haiti Eathquake Relief Efforts......Article
- Real Estate Outlook on Realty Times...Video
- Think Big Work Small a great up-to-the-minute resource for real estate and mortgage professionals...Video
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| Positive Pursuits |
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VIRTUAL SALES MEETING CONCLUSION
Thank
you for being a part of OwnerLand Realty. Our success is a result of
our awesome agents! We are so privileged to have you on our team!
We
welcome your input in our Virtual Sales Meetings...so please email me
(ginni@j2res.com) if you would like to submit an article, helpful hint,
recipe...or if you have a great joke to share with everyone.
Have a Great Week!
OwnerLand HR/Marketing Dept
230 Northland Blvd
Cincinnati, Ohio 45246
JSquared RES
513-896-1200 |
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