About Dallas County, TX

The Sanford directions for today have me reproducing a note of Walter’s about a VIP club he developed for his clients. I am to offer points that can be traded for cash at a closing. I am giving them back percentage points for their actions. It is a good plan for an agent that has a clientele, not one that is building a clientele. Starting with nothing, actually $203 dollars in Jan, and developing a program to give back commissions in early February seems to be counterproductive for me making it to March. I will hold this idea for further down my road.

Making working with you such a great experience that your clients will speak glowingly of to their family and friends is a great plan. At the point where you have a lot of clients, with lots of closings it is easier to give some back to get even more, but not today. What programs do you have that keep people coming back? I may get my introductory postcards today and if this is the case I will be on the street delivering some. I was able to find the owner’s names through the Dallas Appraisal District

TALE OF THE TAPE:
I had a new client sign a buyer’s rep agreement with me yesterday. I worked with our new recruiter and a new recruit yesterday. I showed seven houses to two clients. I wrote and posted two blogs. I feel this blog adapting again to the changes in my approach. This blog must deliver actionable information to the readers. Initially the actions could be doing what I am doing with the program, but it really needs to be more. As I read other blogs here on Active Rain I am impressed with the stories and shared information.

EXIT Realty Recruiting tape. Corporate trainer Johnny Loewy is a dynamo. He is a powerhouse of energy and it is impossible not to be energized in his company. Take a look at his video and see if his approach would help you get to the next level. If you think so, give me a call and we can help you to, "Get to the Top!"

Visit my blog over on EXIT Realty Metro Dallas and learn more about the Sanford System successes I am achieving in these 90 days.

The idea of not selling ones current home for the purpose of moving to another of equal or greater value because of today's market conditions is a bankrupt one.

Realtors continue to hear their friends and clients say, "I can't move now. If I were to sell my home in this market, I'd lose a fortune." And I suppose most Realtors believe the same thing, or are unable to prove to their friends and clients that the statement is not empirically true.

You see, for it to be true, the seller would have to be selling a home in a depressed market area in order to buy one in an area that is not depressed. We'll call that a reverse arbitrage.

There is an investment procedure that is called arbitrage. The idea is that the investor takes advantage of a specific but temporary oddity in the market. For an example, let's say an owner of 100 shares of Widget stock would sell you his shares for $1.00 each. And let's say that you knew someone who wanted to buy 100 shares of Widget in Canada and would pay $2.00 each. Buying the 100 shares for $1.00 and immediately selling them for $2.00 would be an arbitrage transaction.

There are actually professional investors who specialize in arbitrage, and they are called arbitrageurs.

So in my home sale example, reverse arbitrage would be selling your home in a specifically depressed market area to buy one in a non-depressed market area. You would sustain a loss.

But that's not typically what will happen in today's economy. If home prices have decreased by 15% in Dallas, selling yours at a price that's 15% lower than it would have brought two years ago, and then buying another of equal or greater value in that same marketplace would probably mean that it had experienced a similar decrease in value. Consequently, there is no arbitrage. This is trading apples for apples.

By using a watchful eye and adding to it the solving of a simple math problem to your desire to change homes, there is no reason for someone who wants to sell their existing home and buy one of equal or greater value to postpone the transaction.

If you're in the Dallas market and need help with this analysis, call me. If you are elsewhere, your Realtor will help you determine whether or not your buy-sell would result in a reverse arbitrage.

Copyright 2010 - William S. Cherry
All Rights Reserved

BILL CHERRY, REALTORS

DALLAS - PARK CITIES

Our 45th Year

214 503-8563

WEB

Income property can have very stable, respectful and reliable tenants. Dallas, TX

Yes, that’s right! It all depends on product, location and first rate tenant screening. If you don’t have all three, your vacancy rate will be elevated. Let’s discuss product first. We recommend to our students that they furnish their properties with clean serviceable items, new linens and art work on the walls. What you are creating is an environment that is very pleasing to the tenant, one that not only the renter will look forward to coming home to, but also one, through pictures on flyers, web sites and word of mouth, will attract new inquires. We are all for building and keeping a pipeline.

Lots of furnished rooms for rent are not clean and be full of aged, thread bear chairs, sofas, and soiled mattresses. Would you want to stay any longer than you had to in a place that does not support a healthy sense of self-esteem? Nicely furnished rooms generate good paying tenants, who stay for long periods.

Our favored tenant populations generally do not have their own transportation so proximity to public transportation is necessity.

Key to this equation within our program is good tenant screening, which strangely enough does not include credit or traditional background checks. Our tenants are referred to us, so we gain knowledge about them and their history though direct questioning of people who are familiar with each possible tenant individually. We discover personal background information and work experience. This type of screening done methodically will produce good paying renters who stay for long periods creating a stable house.

To learn more about setting up transitional housing, please download our free Ebook from the side bar on our main blog site.

Don't hesitate to contact us with questions. Learn about us. Learn our system. Learn what others have to say about us and our system.

Carolyn Shamis dies ... Great Realtor of Dallas History

Dallas Homes for sale, Dallas Apartment Locator, Lynn911.com

On behalf of Lynn911.com Dallas Real Estate Team we are sorry hear about passing of Carolyn Shamis died of liver cancer.

Many professional associates, personal friends at one time worked with Carolyn either residential or commercial real estate . Carolyn well known for many multi-million dollar luxury homes sold in Highland Park, University Park, Preston Hollow and Turtle Creek areas.

We’ve lost one of the most flamboyant Realtors of Dallas history.

Turtle Creek will never be the same without Carolyn

Read More about Carolyn and her contributions

Carolyn's life

What system are you using as a database? This is a crucial question as you build your collection of properties, names, wants and desires. It is important to be able to go back and search this database for information as properties that come on the market begin to cross over into the needs and wants in your existing database. The cost to start-up this system is not cheap. A database system that can grow with you comes at a cost. If you are starting out with not much money, or no money to buy such support you need to walk before you can run. Set your system up so that you remember who is looking for what. For instance, we are working with an agent who is receiving lots of REO listings from various lenders who need help. He has delivered to us a short sale that matches some criteria I have in my rudimentary database for some prospects who have come in from our lead generation sites. This is simple matching and seeing if there is a fit. As the database grows I won’t be able to remember all the people and needs, that is why when I get busier I will certainly have to invest in a system that allows me to do my searches better. What works for you?

Yesterday I was driving my farm area and getting to know each house and each street much better. I talk about this in my blog on our EXIT site here if you would like to read how Mark changed my mind about the money aspect and what it means in our business.

TALE OF THE TAPE; Yesterday I reached out to a friend I have known since high school. Back when we first got our driving licenses we would drive our neighborhoods and look at houses. We did this for fun and to get out and feel the freedom our newly acquired licenses provided us. I share the whole conversation with him over on my EXIT Realty Metro Dallas blog. Check it out and see you tomorrow.

Yesterday we opened a new potential listing and I spoke with a person who was interested in our listing from Van Dyke which is under agreement, so I am showing her some other properties today and discussing a move from one side of Lake Highlands to another. Two potential deals from a phone call about a property that we already have under agreement. I hung up the phone and my broker told me I did a good job by asking all the right questions and getting the answers I wanted. I walked back to my office thinking I am learning.