Melinda Earlywine

Last Saturday I pulled in the driveway of a foreclosure to preview for a client. There was an SUV in the driveway and when I got out of my truck they also go out. I asked if they were there to show the house or meet with a Realtor. He said no, but that the listing Realtor had given him the lockbox code but he couldn't get it to open. (In my opinion giving someone other than a Realtor, appraiser, or home inspector a lockbox code is a NO NO!) I told him and his wife that they could come in while I was there. While looking around the house we talked about the market and what a mess the house was in. He mentioned that he was an investor looking to purchase several foreclosures and I'm not talking the low dollar $30-40K, he is looking for some nice properties to purchase and flip.

Of course, we exchanged cards and I told them of my experience with foreclosures and HUD's. By the time I reached home, he had emailed me asking for me to set up a couple of showings. Well, today I drove 45 minutes to show him a property that is going to be auctioned. I open the lockbox get the key out, it opened the deadbolt but not the handle lock, I fidgeted and twisted and pulled on the lock for a good 10 minutes, all in 20 degree weather with the wind blowing 30 mph, tried it on the back door, no luck.

Embaressed and cold I felt the listing agent had betrayed me, caused me grave damage, that this guy and his wife would think I was an idiot. They were nice about it and actually kept apologizing to me since I had driven so far, which like most of you I will drive lots farther than that to try and make a sale.

We sat in their SUV, warmed up and looked at the comps I had pulled on the property which we were sitting in front of. They had printed off a couple of other listings I had sent and we will see those tomorrow. Say a prayer for me that the keya will open the locks, looking like an idiot two days in a row won't help my relationship with this couple. If it happens again, I will invest in a set of lock picks!

I have been researching the possibility of taking a Distressed Property Designation course, since all I have been showing and selling have been foreclosures. My broker has teamed with another Exit office in listing HUD foreclosures so I have been picking up some decent buyers looking for a deal. The buyers have been a mix of investors and owner/occupants.

The course I am looking at is offered by CDPE and I have read some good reviews through RealTown.com. The question is, will it help me through the negotiation process of foreclosures and short-sales? Seems that each one is different depending on what mortgage company, bank or third-party entity is negotiating the offer. The designation course is not too awfully expensive, but it is not recognized yet by our local board and I don't know if it ever will.

HUD uses a third-party vendor to accept bids and mess with all the paperwork. My first couple of deals were real stressors! If the paperwork is not absolutely perfect they can and do cancel your contract and there you are trying to explain to your client that you didn't date something or have them sign the correct line. Seems like the Freddie Mac and Fannie Mae's are easier to work with and their addendums are not so detailed.

Some of my client's have gotten beaten out because of cash offers, these are usually investors, even though our offer was at least listed price or more. This too is very frustrating and it doesn't matter if your buyer is good-as-gold with their financing or not, they take a cash offer over anything else. Lately, I have been advising clients to get a home equity loan on their home or investment property so they can make a cash offer. One bank in our town can actually issue a certified check for the mortgage loan and close in 14 days instead of going through all the red tape, that is, if the client is approved and not just preapproved. I have yet to have that happen, but hopefully it will save one of my deals in the future!

Foreclosures are taking over our market and everyone I know that has some extra cash is wanting a deal. Showing foreclosure listings will work you hard and I have the dark circles under my eyes to prove it. You have to close more to make the same we were making a couple of years ago and the buyers are looking forever-in-a-day. I do enjoy the time I spend with clients though, I guess it is that I am such a people person and could talk with someone from now till doomsday.

Let's get though 2009, say our daily prayers, hope the market settles down, get our education for the present day market, hope that gas prices stay down, and take care of our families, ourselves and our clients! Wishing everyone a fantastic year!

Since I am fairly techy I thought my first real estate designation should be e-PRO. At first I worked at least 30 minutes a day on the online course. Then other things got in the way and I just periodically worked on it, well my time ran out and I had to extend it. Being the procrastinator I can be at times, I thought I had plenty of room to finish and not be stressed. When I logged on to e-PRO last week I realized there was only 7 days left. I feverishly worked on finishing and actually took the last test at 11:35 pm on my last day before having to extend my time, again. Whew, just under the wire!

Good new though, I did pass and am now an e-PRO. The course was very informative and enjoyable. I have put several of the suggestions about my website, blogging and email marketing in effect and have seen small leaps and bounds in online referrals. I do recommend to everyone, even if they aren't utilizing the internet with a website and email marketing. Quite a bit of the information can be put into effect with traditional marketing.

My next step is to receive my ABR, since it seems buyers are my market right now. In the past I enjoyed working with sellers more, but with the market being out-of-sorts buyers are my choice right now. Most sellers still think there property is the best and they want top dollar. The values in our area are down 34% from this time last year and sellers don't want to hear that their house isn't worth what is was. There are several out there that do realize they need to wait until the market settles down and when that happens I will be waiting to list their home.

I hope everyone has a great 2009 and goes beyond their own expectations of sales and contacts!

As you know, most of us like to be people-pleasers and will do just about anything to give our clients, friends, and family what they need or want. Saying yes to every whim or request. Sometimes we make promises in the "heat of the moment" that we may have a hard time keeping. At times, I find myself so overextended that I'm grumpy, gripey and just plain tired just because I made too many promises. So lately I have been committed to keeping my schedule and being extra careful with what I am promising my clients, other agents, community entities, and my family.

I wonder why I make promises that may be unrealistic to my business? Do you think it may be that I want to be the hero, the deliverer of the impossible, to get the listing, to get the buyer, or just in hopes of getting the business? Sometimes, when I'm wondering why I didn't get the listing, or the buyer, or the business, the reason may be that I am trying to make promises that I believe another agent may be making. It should not be my position to try and compete to fulfill what another agent has promised a potential client. So my new commitment is to my values and what I can bring to the client, not to make unreasonable promises that another agent may or may not have made.

Competing for business is just part of the sales dynamics. Believing in the value I offer and convey to a potential client will hopefully keep me from making unreasonable promises to get the business. Especially with the market in its present condition, none of us want to be making promises that will be hard to keep. If I can't keep a promise it will make my client angry and then I will more than likely lose the business anyway.

So if I make resonable promises and overdeliver, it makes me the hero, gets me the business and creates a great business relationship that hopefully will continue over the years. That is a whole lot less stressful than overextending myself with promises that I'm not sure that I can keep. This will also keep my self esteem up since I won't be feeling bad that I let someone down with an unrealistic promise!

Let's all get out there and keep our promises realistic and simple and get the business!