Jodi Tussing

Since Last Friday that is 7 days, I have attended three seminars and am now on OMG implement implement implement! I'm home, first time I've had a chance to breathe, and I don't have my notes so, I will do my best and I'll try to update this soon with the sited state legislation links laws and rules.

First- Eugene Marconi, Council for Connecticut Association of Realtors hit us with a shocker: When a listing is in the MLS we have to realize that the MLS is truly an offering site from broker to broker, not an advertising site- which we truly use if for. So- Atty. Marconi said- If you put an amount in the Buyer Broker Offering Field THE BROKER IS RESPONSIBLE TO PAY THAT AMOUNT when the terms are met, no matter what, even if in the comments you put subject to bank and creditor approval, or subject to probate approval or subject to anything. Therefore, Attorney Marconi directs us all to in these situations put ONE DOLLAR in the buyer broker-offering field, and in the comments write what the broker’s intentions are about splitting the commission

This is all quite interesting to me, when I called our attorney to let him know this, he told me that a few years ago when he gave us the language to put into the comments to protect the broker, seller and be transparent to the purchaser in a short-sale situation Attorney Marconi was the person that gave him the words and the directions to put the information clearly in the comments. Sounds to me like the MLS is only for the benefit of the attorneys in this situation.

Second – Meeting with the Department of Consumer Protection, Commissioner Jerry Ferrell Jr. Here is where Change is really taking off. I don’t have my notes I’ll try to update this during the week.

1. SHORT SALE NEGOTIATORS weather you are a REALTOR, or ANYONE, negotiating a short sale – you MUST now be LICENSED under the Connecticut Banking Commission. The only exemptions are attorneys. The cost of the license is $1,500. You also must be bonded for $40,000. This is so huge, there is a whole industry making a living buying and selling contracts et for a fee and now it looks like that is illegal in the state of Connecticut- and I say BRAVO! It was never a benefit really to anyone but the bottom feeders of our world. (not that I don’t enjoy a good catfish now and then) Now there will be rules and oversight, which in this case is a good thing.

2. This is scary – due to budget cuts-, the Real Estate Commissioners Laureen Rubino and Joan Emerick are taking early retirement- since they both worked 24/7 to verify licenses, approve classes, monitor us, the fox can now officially raid the hen house. So if you are one of those types that likes to say… sell real estate without a license, you have a lesser chance of getting caught for a while.

3. MORTGAGE BROKERS – now have to be licensed in the state of Connecticut, and be of good standing, credit wise, no bankruptcies and – no felonies, which in our state means no drunk driving arrests, so hopefully Bill McQue is a good boy or a lot of people may have to go work for Webster or Peoples. (love Bill Mcque btw- just an example)

Then our meeting with Attorney Larry Garfinkel, who we really respect, he is a practicing attorney with Bendette & McHugh PC, gave us the info on the new HUD rules and the new Pre-Approval rules for Banks and Mortgage Companies, and the New Respa rules and forms. I really love this – I don’t have my notes and I will come back and update this part but the pre-approval which used to be as good as toilet paper for the purchaser and the seller, now has value. Let me explain- Mortgage Brokers in my experience many times (not the good ones) would trap a buyer by promising a rate lower than the going rate- and then not deliver, and actually had no intention of delivering, and many times the buyer would not realize it until the day of closing. Bad bad bad bad bad – moving truck parked at the new house kids excited et- to be told ohhh by the way the apr is 2% higher than I told you because….um, you bought a new pillow and charged it. The buyer would cave into the pressure, facing possibly losing their deposit and close – NOW there are many new rules, they can all be found on the HUD website, but basically if the pre-approval says whatever it says it can’t be off by more than an eighth of a percent or the bank eats the difference. WOwser

ONE MORE THING - if you have not heard of the HAMP program, it has many names but it is also known as the OBAMA program- it is really great and from what I understand ANYONE owner occupied single family home owner can take advantage of it. If you are in over your head in a loan, your income isn't what it was, one spouse got laid off ect, this is a restructure loan that will reduce your payments to 31% of your gross income by reducing the rate and or lengthening the term. A lot of people are taking advantage of this and it is preventing foreclosures! To see if you have a Fannie Mae loan, check the website.

I haven’t written any blogs, and I have been ignoring emails and a lot of social media… As Warren Buffett said: “Be fearful when others are greedy and greedy when others are fearful” And we are not out of the water yet… BUT As Ralph Williams said- this year is about focus. So- as the entire Real Estate UNIVERSE proclaimed the ‘WAY TO MAKE MONEY ON FACEBOOK‘… et, I decided, time to do what I do best,RECRUIT ~ HIRE~TRAIN ~ and now… go on appointments with our agents when they need support, and- it is working. Our management team is doing the same thing, guess what. Market Share is growing.

I have a business Coach. I work for a very progressive company, my broker is amazing and makes cutting edge decisions on how to run and grow her company. One of the things she does is - she invests in tools and programs that genuinely help grow her company. One of them is a coach - and the coach is for the agents- for herself, and for the Career Development Program we have at CENTURY 21 Access America. (BTW we are the top CENTURY 21 Office in Connecticut)

As a REALTOR, and a former top producer, I appreciate sales people. I appreciate them becuase I have the same lumps and bruises that come from that learning curve. Ralph Williams was the top agent for CENTURY 21 Internationally the first year he was in the business, he is my coach.

So - I believe that in life - one must surround themselves with people better than themselves - I have always done that. If you don't find mentors in life, I do not believe you will grow. Growth for a human being is painful. Seeing who you really are takes courage, you can't lie to the mirror. Sales peoplemust face that mirror every day- if people don't like you you its hard to sell them something. If people don't like you it's becuase... they feel something or see something in you that just doesn't sit right.

I appreciate my coachbecause he doesn't pull punches. He can be like a bolt of lightning coming out of the sky and lighting up the darkest places ... you didn't even know were there.

I'm writing this because on new years day this year I got a call. I had sent my materials for 2009, to my coach. Normally they are met with approval and even fan fare. Not this year.

Since the end of October 08 to the Middle of December I went to 5 conventions and seminars, one was NAR in Orlando. Every class I took was for my Career Development Programs for 2009 - So MUCH - I saw Gary Keller - Shift in Boston, Daniel Pink, A Whole New Mind. I also took a Disney Course on Management, and many others. Add to that my BFF is a Scholar in Generational marketing and Teaching, she was a speaker every day at the NAR convention and my room mate at the convention. You could say- I was on Operation Overload and had no idea.... and now I am going to re-create the wheel of teaching and coaching how to sell real estate I had internalized everything I read and listened to - very excited, I mashed it all together like a good web 2.0 site and was quite proud.

Ralph read my business plan, called me to discuss things and then... started really drilling down to the- 'Jodi - this is all distractions and I felt like...why are you picking on me on New Years Day Ralph - I was so happy with all of these great ideas, what is your problem, are you raining on my parade? again?' kind of thing.... And I hung up and was quite up set, and talked about it for 3 days and eventually - I worked through it and got it. (one reason why he has more money than I do - he can focus, also the only reason really that I listen to him... he has more money than I do, is and is more successful than I have ever been..in fact more successful than anyone I have ever met, almost.... because he can focus)

I get it. 2009 is about focus. BE CAREFUL OF THE NEXT MAGIC PILL! - there isn't one : > ... and we all know that. Let the geeks blogg et. go ahead and get your listings everywhere - and be a Trulia Voice- but don't get carried away, focus on getting infront of more new business, in person, focus on your leads - stop letting them fall through the cracks - follow up follow up follow up - and make appointments!

Who cares about you? Who cares about the best use of your time? Unless you are PAYING someone to tell you the truth - who has actually been really successful themselves at what you do.... don't listen, don't be sold a bill of goods.

So - I'm going to lay it out for you guys - Get Listings, that is the BEST advertising, get them priced right or work the prices down or move on, the more you have - the more of a famous real estate rock star you will be. Then - Sell them, try to work only with exclusive buyers and give amazing service. Do NOT worry about anything else. And I as a coach and trainer - I also will also not worry about anything else - Deal. Now- GET TO WORK! all the wimpy agents have quit, there is as much opportunity now as there was a year ago ~ Jodi