Author: Eric Bramlett (page 2 of 2)

by Eric Bramlett

Real Estate

Author website

With the recent events in the mortgage industry & in most of the markets around the country, many homeowners are left upside down on their homes, and unable to sell.  This is one of the real dangers of homeownership.  While we (real estate professionals) all tout the many advantages of owning a home, and primarily that “real estate historically appreciates,” getting stuck upside down on a home is a scary proposition…because you’re stuck in your home.

In markets like these, real estate agents & brokers also get a little scared.  Fewer homes are selling, and fewer commissions are earned.  Many get out of the business, and many begin marketing “creative solutions,” & “creative opportunities,” which includes the short sale.  Short sales as a subject really started popping up a few months ago, and it’s really increased – it looks like we’re on the left hand side of the bell curve.

Everyone knows that some Realtors love to puff the advantages of anything that will help them earn – let’s analyze some of the myths that are now being touted, and that we’ll see more of in the future.

Myth #1

“Short Sales Are a Great Investment“

A short sale, by definition, is a situation where the bank is cutting their losses in order to avoid the costly foreclosure process.  The bank is getting screwed, and they will try to cut their losses as close as possible – which means they ask for multiple BPO’s before they’ll agree to a sales price.  Multiple agents/brokers, who are all vying for listings from the bank, have given their expert valuation of the property.  The chance that the listing price will come in 20% below market or lower (which is the minimum to make a decent profit) is pretty slim.

Myth #2

“The Bank Will Cooperate With My Short Sale”

When trying to work out a short sale, you’re dealing with the bank’s loss mitigation department.  Loss mitigation will typically not talk to you unless you’re 60 days past due or more.  After you’ve crossed this bridge, they will discuss a short sale, but you’ll sit on hold for hours before getting anywhere.  Read more

by Eric Bramlett

Real Estate

Author website

Back in the day, I wanted it all. I obtained my real estate license, then my property/casualty insurance, then my life & health, and I was ready to get my mortgage broker license, as well. I wanted to OWN the transaction – and every transaction. Are you looking for a house in Kyle? I’m your man! Do you need a C-class multi w/ at least a 6 cap? Over here! And you know what my closing ration was? Neither did I, because I didn’t track it! I was too busy being the jack of all trades – and master of none.

Experienced agents have found their niche – residential or commercial aside, they’ve found their real niche: Downtown condos, specific areas, specific neighborhoods, specific lifestyles, and a host of other choices. You tend to gravitate towards what you like, or where you live. But while agents have gravitated towards their niches, most websites remain broad & sweeping.

Case in point

What did I sell? Who knows…looks like all of Austin. If a searcher found this site, they get NO specific information on anything. They can search the MLS – but they can do that on ~3000 other Austin agent websites (thanks Jim Olenbush!) They might as well have landed on ripoff.com realtor.com and if they enter their contact info there, they’ve entered it everywhere.

Web surfers are getting more & more sophisticated with their searching. While you still get a ton of “city real estate” searches, you’re also seeing more & more “neighborhood real estate” searches. Those browsers know exactly what they’re looking for, and they know when they’ve found it.

Niche websites won’t get the same traffic as a “jack of all trades” website, but they’ll convert like crazy. I’m in the process of working on Life in Steiner Ranch – because I know the neighborhood like the back of my hand, like working it, and love selling it.

In my humble opinion, this website is pretty – I happen to be very good friends Read more

by Eric Bramlett

Real Estate

Author website

Hello to everyone! Let me start out by saying that I’m flattered/excited to be here…I’ve already received two congratulations from colleagues who (already) read Greg’s post (about 5 hours ago) and my Google alerts have already hit me for “eric bramlett” with the same post. Let’s just say that BHB carries some weight, sucka!

Well, since I completely copped Blackwell’s style by asking to write here, I thought I’d continue my “flattery by imitation” and start out with an intro post that shows my point of view, and you guys can go ahead and infer how my occupation(s) shape that POV.

1) Entrepreneur. This is first & foremost because it’s what I am. I love to think outside the box, hate having a boss, & love making money. As an entrepreneur, I’ve come up with a total of 3million business plans, successfully implemented one, and successfully failed one. I have a couple more I’m seriously brewing right now.

2) Realtor. Because it pays the bills, and I’m good with people. I take pride in my work, and treat people fairly. I disclose any bonuses before contract (Greg) and honestly look out for my clients’ best interests at all time.

3) Broker. I wish it paid the bills, but it doesn’t. I hang anywhere from 8-12 agents’ licenses at any given time, and about half of them depend on it for income. I like helping them, and love watching them succeed.

4) SEO/SEM. I’ve jacked w/ TONS of marketing, and online fits me well. I’ve successfully marketed multiple websites, and think I know a little bit about the subject. I’m looking forward to (finally) meeting a bunch of friends @ Pubcon this year.

So…that’s where my head’s at, and those are the subjects that I will bring to the table. Hopefully, I can start some lively debate, and I hope I can contribute as much as I will learn!

By the way….Where’s YOUR Read more