ELECTRONIC SIGNATURES - THE WAY TO GO!
If you are not using electronic signatures for your offers - can we say multiple submitted for short sales on behalf of our buyers, then your fax machine is working overtime and the paperwork is getting more and more distorted as it is received.
Now, obviously with foreclosures/REO's the banks probably need a real life signature which forgives us all back to the old days, but with electronic signature the client can keep the whole file to review with which you can go over with them, if you have not done so before (which I highly recommend by the way).
But, if your client is at work, at home, on vacation, out of state, they no longer need to access a fax machine to get your paperwork back to you, which could mean acceptance or not, especially with REO's or a final short sale acceptance if time is of the essence.
Electronic signatures are not the be all and end all, but they do make life simpler for you, for your client, and for the agent on the other side as the paperwork now comes through clear enough to read, decipher and pass along to their client for any signatures needed - no more smudging of ink, hard to read requests, etc., etc.,
Just a thought!
www.janeloveday.com
Are your buyers working full time? Do they work after 5pm? YES!
How many times do you turn your phone off to have dinner, relax with your family? In this day of internet marketing your answer should be NEVER. Most buyers spend their day at work searching for homes (yes they do!). And when they can make phone calles about homes, have questions, when are they going to call you? IN THE EVENING!
It is optimal to work FOR your buyers and sellers, no matter the olde days when it was usual for everyone to finish at 5pm or 6pm, now it is up to us to be available at all times (up to a certain point, I am not going to answer my phone at 1am) but to work until a certain time point that is convenient to our clients is a MUST.
Most buyers are wanting information yesterday, and if it takes you until tomorrow to answer their questions it could be too late, they may have found the agent who will respond in real time - I know I am working in the evenings and even though I may not like it, my clients love the fact I can respond immediately. And being able to text is A MUST - that's another blog!
When the housing inventory (for sale homes) drops below the 6-month mark here in San Diego it becomes a "sellers" market. We now have under a 5 month supply.
What that means is, if all homes currently for sale are sold, we will have none left after 4 ½ months. Even if banks decide to unload more foreclosed homes, it will not affect this by much at all.
With new regulations on listing a home on the MLS (Multiple Listing Service) here in San Diego coming into affect at the end of May, we will only have a 2 month supply.
For homes priced under $500,000, there is the situation of multiple offers (my client just won out from 11 other offers) which means property is moving quickly, even with short sales. And talking of which, the new regulations mentioned above now require that short sales are placed into a ‘contingent' status, between for sale and pending, as many of the short sales already have offers submitted to the lenders, with back-up offers being accepted only.
Is the bottom of the market here? What do you think .... If you are waiting for prices to drop further, look no more, they will be dictated by the sellers now, it's a cycle, and we enjoyed the buyers market up until earlier this year, the wheels have turned.
Serving SanDiego's First Time Homebuyers - Do you have a question about real estate? I am here - I can Help ! Visit me also at http://www.janeloveday.com
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