Lets Act Like Proffessional Realtors

Hello All,

With prices continuing to fall, and the mortgage industry all but drying up, we had better just spend our time listing homes that will pass inspections and appraisals. Our job as Realtors is continuing to evolve into total consulting position with a well rounded understanding of the entire home buying, financing, and marketing process. Contingincy offers make you feel good for a minute, but when the property, or the buyer cannot qualify, then we have done all our best efforts for nothing. I am on a record pace for deals that have fallen apart due to a myriad of reasons, but the final outcome is a disapointed seller(and buyer) and no money for me.

We do get paid well for the amount of time we actually spend on a transaction,that closes; we should align ourself with a professsional team around us to insure our deals have a chance to go thru before we just accept contracts.

If we take this same logic and back up a few steps, we see that we should take the same care in pricing and accepting a listing in this market. Our marketing budgets get stretched thin promoting properties that are out of reality but we have an obligation to fulfill our contractual obligations.

Better that we should leave the overpriced listings out there for the competion to go broke with, and spend our resources more efficiantly on the listings that are really sellable. We owe it to ourselves (and our spouses)to earn a living during this market. If we don't stand up for ourselves and do our job, then we will look less professional when our signs just sit on yards for a long time and just expire anyway.

Help encourage your fellow Realtors to regain our collective dignity and agree to leave the overpriced listing table and find the next motivated seller. Work expireds and FSBO's that are motivated, and I will see you in this Realtor only format a year from now. For those of you who feel its thier duty to just go along with whatever the seller wants to price it at, God Bless and I hope your part time job pays enough to pay the bills.

Lets all get more professional and stick to our guns. It will work out for the strong among us.

Mike Norvell Sr

Ok...who in this forum hasn't given up a day, a week of their life for a deal that got away. Maybe it did not exist!! I am so guilty, but it won't happen to me or my clients.

One of my mentors, who has done extremely well, used to warn me of THE BUMS RUSH. That's a deal that has to be done yesterday to take advantage of this wonderful opportunity.

They will immediately email an impressive NCND, Fee Agreement, and request a LOI by the next tick of the clock or it will be too late.

Most of the time its already too late. How many reading this have seen the same deal presented week after week by new people. How many have had their own deals repackaged and presented back too them as fresh deals???

The facts are, it takes time to buy anything. I have never seen a single house bought and sold in one day, much less a bulk billion dollar package.

The BUMS RUSH stops people from exercising normal good judgment. Of the deals I have seen go thru, the common grounds are:

1) Verified buyer,.................

2) Verified Seller....................

3) Verified Properties.......................

4) Actual Cash Deposit in Escrow

5) Actual Due Diligence Performed by the Buyer Team

6) Negotiations by Buyer and Seller Team

7) Close and Fund

Have you ever called a closing/title company and tried the BUMS RUSH??
How about the County Clerks office to get the deeds processed in a day???
Is it really conceivable to do Due Diligence on 47 homes in 2 days???

Should't this deal be ran past an Attorney ??
In all this Bums Rush did you even bother to get some of the facts straight???

Now, I do agree that if the deal looks good, and the buyer and seller are verified, then by all means demand a contract, make the escrow deposit, and get moving on due diligence.

Only then can we get to negotiations and fee agreements. I recommend that serious buyers have a "Package" of docs and procedures ready to go for the deal they wish to tie up.

There are deals snatched up by Professional Buying Groups who are prepared to purchase, and have an acquisitions team that does not waste time. That's not Bums Rush...that's being prepared to recognise and seize opportunity.

I won't succumb to the Bums Rush....Neither should You

Hello...This is to buyers reps or direct buyers only please.

I am in contract with a ACTUAL DIRECT Sellers Rep who is Currently assigned the task of breaking down a larger package and selling them in smaller bites.

It is a simple protocol.

Call me if you will, and we can discuss the different areas that are available right now, and whats coming up.

We don't need a big FancyLOI POF deal, but if you have one that's OK too. These are small deals, and will go quickly.

All we need is a basic NDA, which I will provide, and a very generic outline of what the Buyer is looking for. Price, Location, Terms...again, from the BUYER.

Some of these are Midwestern Packages for as little as 500k take down, and they have an included exit strategy in place to either assist in the cleaning/marketing/sales/lease options or to handle the entire transaction with weekly reports. Dealing with a experienced company with in place personnel should take the risk out of buying outside of your back yard.

The balance of the packages are nationwide, starting at the low takedown price of 3 mill, and the discounts are relevant to the area. For example, Georgia/ Florida is cheaper than California/ New York, and we also just got a package in from a bank.....Nevada only, 5.2 million takedown with very recent BPOs.

I know every one has their share of horror stories....too bad....When we have more time I will buy you a beer and listen..But not today!!!! ..I don't care how bad you or your buyer has been lied to in the past. Hard Proofing will be step # 2 after a phone call direct to the buyer. Buyers Reps are welcome, just bring the buyer too, and have the Buyer create a current Buyers Rep letter, signed and notarized by the buyer...

My goal here is to have a number of smooth, direct, buyer seller transactions....For those of you who know me already, you know I have seen most of the tricks, and done all the conference calls I care to do.

If you call with anyone other than the actual buyer on the phone, I have been known to politely hang up. If you KNOW a buyer rep that is direct, please save us all time and have that person call, and then we need to get direct to the buyer, and the proofing......

For those that are still interested, these are large institutional packages that have been purchased by an group that is selling in smaller bites.

1) If your buyer only proofs directly to the institution, we are the institution. The buyer can deal directly with the authorized seller rep ....no games here...
2) If your buyer demands a LOA, we will provide that 5 minutes after hard proofing, Attorney to Bank, or

Attorney to Attorney. There are a few relevant choices, but NO PACKAGE TAPE WILL BE DELIVERED WITHOUT PROOFING FIRST>
3) We do not compile these packages, they are grouped by the seller in relevant sizes and by Location.
4) Exit strategies are available upon request for successful buyers. This is a service provided to assist the new owner on purchases not in his "Back yard" This is not a free service, and is offered outside of this deal by other parties not associated with the seller.
5) Initial Purchase Protocol will include,NDA, Hard Proofing, LOA, Contract, Fee Agreement, Escrow Deposit, Wire Instructions/Paymaster, Due Diligence, and Close.

6) Finally.........[b] There will be NO Packages, scrubbed or not, to anyone other than a proofed up B

uyer.... If for some reason the Buyer shares the sanitized list with someone and it gets put on the web, the buyers deposit will be forfeited. After the buyer has purchased the package, he can spread the deal to a thousand mailboxes, but we have the intent that this program will not work that way.

Mikenorvell@earthlink.net

This post is probably a bit overdue.

I have decided ( a while ago) to form a consulting business as my primary marketing arm for what I do. Yes, I still am a Licensed agent, not a broker yet, maybe I will never get a brokers license. In the next week I will make a decision as to where I want to hang my agents license.

You can bet it will be with a group that deals primarily in investment and commercial deals. I have great leads on Builder Closeouts, fractured condos, stalled projects, and all kinds of deals that should be ready to go here in FLorida. Or I may just stay where I am at, you never know...... Rick and I have been Friends for nearly 20 yrs...

But, aside from just being a Realtor, I love the business of Marketing & Consulting. This title takes into account many skills, allows you to wear many hats. Dealing with investors is not just finding good deals, its much more. It involves finding deals that you can also set up a profitable exit strategy as well.

With a good exit strategy, investors won't have to look at a deal very hard. We can show them the way in, we can also show them a way out!! So, that will be my main focus. Find deals that I can also create an investment strategy for my clients.

Oh yeah, my feeling about being a single agent are still the same. Makes no sense to me to try to work both sides of a deal. I like knowing what I am representing, who is the client.I believe the clients like it better as well.

In the meantime, I would like to talk to those who have great deals for investors in the Fl area. On a Bulk REO basis, I would love to hear about any BULK REO on a Nationwide basis. We do currently have interests in BANK OWNED properties in Fl, smaller deals to medium. Cash to close for the right packages..Try me....

Lets go make a deal.........I love investing

This post is probably a bit overdue.

I have decided ( a while ago) to form a consulting business as my primary marketing arm for what I do. Yes, I still am a Licensed agent, not a brokeryet, maybe I will never get a brokers license. In the next week I will make a decision as to where I want to hang my agents license.

You can bet it will be with a group that deals primarily in investment and commercial deals. I have great leads on Builder Closeouts, fractured condos, stalled projects, and all kinds of deals that should be ready to go here in FLorida. Or I may just stay where I am at, you never know......

But, aside from just being a Realtor, I love the business of Consulting. This title takes into account many skills, allows you to wear many hats. Dealing with investors is not just finding good deals, its much more. It involves finding deals that you can also set up a profitable exit strategy as well.

With a good exit strategy, investors won't have to look at a deal very hard. So, that will be my main focus. Find deals that I can also create an investment strategy for my clients.

Oh yeah, my feeling about being a single agent are still the same. Makes no sense to me to try to work both sides of a deal. I like knowing what I am representing, who is the client.

In the meantime, I would like to talk to those who have great deals for investors in the Fl area. On a Bulk REO basis, I would love to hear about any BULK REO on a Nationwide basis.

Lets go make a deal.........I love investing