About Johnson County, IN

Can Anyone Be a Real Estate Consultant? (Part 1)

So I'm showing homes to a new client in Greenwood the other day and I had a few random thoughts. "What does this person think of me?" "Am I being of value to them?" "From her perspective - what is my job?...and am I doing it?"

Based upon what I had done so far it was pretty simple. Answer the telephone. Set up some showings. Meet her at the house. Bring along some information. Answer some questions. Doesn't sound like much does it? Is that what it takes to be a good realtor? Are those the skills that are necessary to be a real estate consultant? If so, this is an easy job! So why doesn't it feel easy?

Then it occurred to me. The client only sees the tip of the iceberg. What they don't see are the other skills that are necessary like:

• Marketing - eNewsletters, drip campaigns, blogs, branding, advertising, magazine articles, and effectively utilizing the reach and range of the internet
• Sales - being a consultant...the clients advocate, interpersonal skills, providing accurate advice on market values, offers and so much more
• Organization - being able to work without direction, client management, project management
• Technology - client database management, website creation, website content, online systems, email, advanced telephony, and all computer applications
• Photography - utilizing advanced equipment to capture the very best a property has to offer potential buyers
• Staging - advice and counsel on how best to showcase a clients property
• Financing - mortgage assistance, closing costs, property taxes, title insurance, warranties, FHA, VA, $8000 tax credits and so much more
• Legal - contracts, title, Indiana State laws, tax exemptions, closing documents, and HUD statements to name just a few
• Property - easements, surveys, dated/outdated/updated, constructions, parcels, plats, subdivisions, tenants rights...the list goes on and on
• Industry knowledge - inspections, appraisals, sellers disclosures, market trends, mold, termites, radon, foreclosures, short sales, sheriff sales
• Communication skills - Listening skills are primary on the list, but includes writing and verbal skills
• Team building - Assembling a network of experts to call upon routinely, like inspectors, lenders, movers, stagers, insurance, and others
• Knowledge of government programs - the $8000 first time homebuyer credit is an example
• Negotiating skills - developing and executing strategies for offers, counters, inspection responses, and dozens of other agreements
• Operational abilities - business planning, business management, expense management - the business of running a business

There really is a lot more to being in real estate than most people see. And the thing is....if I'm doing my job right my client will never notice how I skillfully and seamlessly weave all of those skills together and help them sell their home or find the home of their dreams. But at the end of the day when they turn to me and say "thanks for making this possible"....that's when my true reward is received.

Would you like to know more about each of these skill areas? Stay close as the Hoagland Group publishes an entire series of articles that will delve into each of these categories to uncover the true skills needed to be a vibrant and effective consultant in today's real estate market.

Selling Your First House? -- Here's the Scoop! (Part 3 - Title Insurance) -- So what is Title Insurance, why do you need it and how expensive is it?

The most important thing to know is that it protects your family, the buyer and the lender against any possible future questions over legal ownership of the property. Prior to all closings in Indiana, a title company will complete a title search to see if there are any known defects or liens against the title -- in other words, does the person selling the home really own the property and has anyone filed a lien against it for unpaid debt? (Like the county for unpaid taxes or a contractor who performed work on the property, but was never paid) If something arises from that search, it will need to be remedied prior to closing, but what if something surfaces after closing? Chicago Title, explains it this way:

How can there be title defect if the title has been searched and a loan policy issued?
Title insurance is issued after a careful examination of copies of the public records. But even the most thorough search cannot absolutely assure that no title hazards are present, despite the knowledge and experience of professional title examiners. In addition to matters shown by public records, other title problems may exist that cannot be disclosed in a search.

What title insurance protects against.
Here are just a few of the most common hidden risks that can cause loss of title or create an encumbrance on title:

• False impersonation of the true owner of the property
• Forged deeds, releases or wills
• Undisclosed or missing heirs
• Instruments executed under invalid or expired power of attorney
• Mistakes in recording legal documents
• Misinterpretations of wills
• Deeds by persons of unsound mind
• Deeds by minors
• Deeds by persons supposedly single, but in fact married
• Liens for unpaid estate, inheritance, income or gift taxes
• Fraud

If the property is being purchased using a mortgage loan, there will be two simultaneous policiies. The seller normally purchases a policy to protect the buyer, while the buyer purchases an additional policy to cover their lender. The rates are based on the sales price. In Indianapolis and surrounding areas, a policy purchased by the seller for the buyer might range from as little as $600 for a $100,000 property to $1,070 for a $500,000 sale. This should be part of the Estimated Net Proceeds document that any good agent will complete for you when listing your home.

For more information on Title Insurance, visit Chicago Title's website.

Other blogs in this series:

Here's the Scoop! (Part 1 - Real Estate Fees)

Here's the Scoop! (Part 2 - Indiana's Pro-rated Taxes)

By now we've all heard about the First Time Homebuyer Tax Credit -- I mean, who hasn't? In fact, if you're already a homeowner, you're probably a little frustrated and maybe even a tad resentful. After all, you could have used $8000 when you bought your first house!

But many experts say it's the housing market which will lead us out of the recession, so the important question is -- is the stimulus working? In Indianapolis and surrounding areas like Greenwood and Carmel, the answer is a definite "Yes". Early in the year, first time buyers were trickling into the market, but in the last 4 weeks the flood gates have opened. Recently Steve and I have experienced several instances where we've had multiple offers on properties -- we'd heard stories about this happening in "the good old days" but had never experienced it ourselves! Now this is how Real Estate was meant to be!

Just last week I was setting up several showings in the Geist area and was told that 4 of the 6 homes were no longer available because the sellers had accepted offers the day before. Yesterday I emailed a client with some potential Greenwood properties, but when she responded back the very next day, 2 of the 6 had already pended. And it's not just in the lower price ranges. Typically the first time buyer in Indiana is looking for a home under $200,000. Now that those homes are selling, we're seeing a trickle up effect. The heightened activity seems to be reaching up into the mid $300,000 range, and with fewer of those homes on the market, if a buyer sees something they like, they need to be prepared to move quickly.

So is the market truly recovering? It's too soon to tell, but it's looking good and we're hopeful. In fact, if you know of someone considering selling, let them know that there are plenty of qualified buyers out there looking for the "Perfect Place" and we would welcome the opportunity to share with them how to successfully sell in this market. And if you know someone considering buying - have them contact an experience real estate professional! Interest rates are still low, (under 6% today) the tax incentive is in effect until December 1, 2009 (properties must close by this date to qualify, so it's essential to be under contract by mid October), and there are still plenty of great homes on the market - but be prepared - the good ones disappearing quickly!

Posted: Friday, July 17, 2009 10:18 AM by Tonda & Steve Hoagland on their real estate blog at PerfectPlaceForYou.com

Are we being HOSED? You be the JUDGE.

I have to preface this by saying, I am neither a Republican nor a Democrat. There is a right way and a wrong way of watching out for "We the People". No politician was elected to watch out solely for his/her interests and special interests.

YOU are elected to watch out for US. YOU SHOULD NOT BE IN A POSITION OF POWER WITHIN OUR GOVERNMENT WITHOUT WATCHING OUT FOR OUR BEST INTERESTS, OR YOU NEED TO RESIGN NOW!!!!!!!!!!!!!!!!!

Take a look at some of these links, and feel free to share some others so we can get educated!

The Great American Bubble

Get ready America, as we are not going to remain on top if we allow all of this to continue.

America's Economy not on top anymore.

Madoff and the SEC

It is time we American's buckle down, appreciate what we do have, and FIGHT FOR IT instead of letting this Elitist SELF SERVING Club foolishly squander away our money and AMERICA.

Photo by: Playing with Hose by Charlie Lawrence, on Flickr

We are putting a seminar together for the First Time Home Buyers!

We will be answering questions that the First Time Home Buyers may have, including the questions about the Tax Credit up to $8,000. We will be hosting this seminar/meeting in Greenwood, Indiana area, if you are interested in attending please let us know. We would be happy to let you know when and where it will be held. We are in the beginning planning stages and have a few locations in mind. It is going to depend on the number of attendees...

We will be talking about the $8,000 Tax Credit, the benefits and how it is different than the Tax Credit from 2008 ($7,500).

Please let us know if you have any specific questions and we will be sure to address them. If you are unable to attend and still have a question, let us know and we will answer it for you.

Thank you and we look forward to assisting you in your Real Estate needs.