AREBOT.com, which stands for the American Real Estate Board of Trade, is the name of the company that intends to open up the demand-side statistics, by voluntary submission of properties, to an online NASDAQ-like market.
DISCLOSURE: From this point forward, my opinion may be considered biased. I have a verbal agreement to receive site advertising in exchange for publicity.
The intention of my post about the “big idea” was to “smoke AREBOT out”. I knew they were getting ready for a site launch and wanted to have it revealed to the Bloodhound Blog community first. C. Aaron Bruce, the founder, was happy to explain the site and encouraged me to explain it to you ahead of the official press releases. This “exclusive”, if you will, is available to all, Wednesday June 24, 2009 at 1PM (PDT), on a conference call. If you’re interested in the call, raise your hand below and I’ll email you the details.
AREBOT.com is not intended to be an “auction”. It is an open, transparent, real-time market. Each zip code will have a live “ticker” moving across the screen, displaying actual offers on homes. Each listed property will display a time-dated offer history. Entries are voluntary and cost nothing to the sellers of the home. The “price”, if you will, is that they offer the property on this transparent market.
Buyers offer on the properties by entering the terms . The bid is then considered to be “unverified”, signified by it’s yellow color, until verified and submitted by a licensed real estate agent. Licensed real estate agents may offer their buyer brokerage services, at no cost, on the site. Listing agents are protected by their listing agreements and may voluntarily display listings on the site, at no cost to them or the seller. Verified offers turn green and stay that way for 24 hours (or longer if both agents are negotiating); offers are still accepted until the property is withdrawn from the system. Rejected offers turn red and are displayed with the property, in perpetuity. Final terms are not disclosed as most states publicly disclose sales information. I have no idea Read more
How to assuage the fear associated with a VA offer
Non-allowable costs to VETERAN
Document preparation, loan closing or settlement, mailing or postage charges, escrow charges or fees, document preparation and / or assignment, notary, loan application, processing,undewriting fee, trustee’s fees or charges and tax service.
About $1,200-$2000
WHO PAYS?
borrower (as a discount fee)
lender
real estate agents
Why VA underwriters hardly ever challenge the VA appraisal
This is the third and final installment from my conversation Saturday night with Scott Cowan.
In the podcast linked here, Scott and I talk about using PHP to create dynamic web pages.
Why would you want to do this? Mainly you wouldn’t. But working with PHP and a data set, you can manage you ignorance in such a way that you make some pretty smart web pages.
For reference, you might work with the BloodhoundBlog posts headed “Speaking in tongues.”
In the course of the discussion, I reference a BloodhoundBlog post on page geometry. It might be worth you while revisiting that page during the podcast.
If we get very lucky, Cheryl Johnson will listen to this podcast and translate it into more-helpful instructions.
Linked below is a recording of a conversation Scott Cowan and I had last night about installing engenu on multiple domains.
Cliff’s Notes: Each domain needs its own copies of the engenu folder and the engenuComponents folder, including a separate copy of engenupageDex.bin. The advantage is that each different domain can have its own unique appearance, and each domain can have a separate password, so you can limit how much of your world you share with colleagues.
We also talked last night about how to build an engenu skin from a standing CSS style. I’ll upload that podcast tomorrow.
If you’ve ever seen Greg Swann and I do our push/pull routine, you’ll watch a “somewhat scripted” debate between Slimo, the really pushy sales guy on the internet (played by me) and Webbie, the kind-hearted, unwilling to offend practitioner (played by Greg). It’s a twenty-minute gig that lasts about ten minutes. At midpoint, someone raises his/her hand and asks “Isn’t it a balance between the two ?”. Jim Lee, of the Cyberprofessionals, was the smartest kid in our last class. Obviously, Greg and I are playing roles to get the audience to the epiphany Jim Lee had.
Use the visual of the funnel because internet marketers are always talking about it. The funnel is a disqualifying machine, always trying to get people to “raise their hand” , each time information is offered. If they don’t raise their hand, they opt-out or ignore you. Traditionally used in serial e-mail marketing, its efficacy is diminishing and consumers tolerate less “spam”. What’s a Slimo to do, then?
Adopt an approach that allows them to “opt-in”, daily. Social networking is one way to do that.
In this webinar, offered by Top of Mind Networks ( TOM President Mark Green is attending BloodhoundBlog Unchained), I discuss how to use “old skool” principles of referral prospecting on Facebook, the mid-sized nation of 175 million people. What you’ll be watching is a raw recording which will eventually become part of a course in social media marketing, offered by BloodhoundBlog Unchained. It’s about an hour long.
DISCLOSURE: I am a paying client of Top of Mind Networks’ “Surefire” product. Mark Green is a fully-paid, registered attendee for BloodhoundBlog Unchained. I was not compensated for the webinar.
The webinar is linked below in both audio and video formats. The video requires Windows Media Play and the GoToMeeting codec.
I interviewed Rhonda about what she does that WORKS, not what she does that’s cute. At BloodhoundBlog Unchained we talk about things that are as practical as a jackhammer on a construction site. When you hear Rhonda, you’ll learn that she ‘s a lunch-pail carrying, hard-hatted foreman, building relationships through her social media efforts.
If you haven’t reserved your spot for Unchained Seattle, you just might be shut out. Over 75 people have raised their hands and seats are going quickly. Contact Scott Cowan if you’d like to see us on February 12.
RE Bar Camp is an ad-hoc gathering born from the desire for people to share and learn in an open environment. It is an intense event with discussions, demos, and interaction from attendees
BloodhoundBlogUnchained is proud to be a sponsor of this effort in the Emerald City. Greg and I will be there to join in all the fun!
Jason Blackburn of Laser Focus For Life was our guest on BloodhoundBlog Radio last week. I “met” Jason on Facebook two months ago, when preparing for the “Power Of Twelve” seminar. Jason wrote a referral script for my seminar and asked nothing in return. That connection led to a number of telephone calls which made me realize that Jason had a lot to offer.
Jason points out that many of our actions are incongruent with our mission. He explains that our actions need to be inspired by the “buy-in” from both our hearts and our minds. Jason is not a “touchy-feely” success trainer. He’s a nuts and bolts sales pro with over twenty years experience.
“Managing loans” is the tail that wags the dog today. When I was a rookie stockbroker, the good folks at Mother Merrill taught us to “gather assets”. Essentially, the firm encouraged us to pitch clients to have their assets transferred to a Merrill Lynch account. The strategy was that assets “in-house” would result in a commission when they had to be sold.
Is it any wonder that the mortgage sales gurus who brought that strategy to the mortgage business were former stockbrokers? Rich Katz, former President of Loan Toolbox, spent his early career with both Merrill Lynch and Smith Barney. Dave Savage of Mortgage Coach perfected that strategy with his software offering. Todd Ballenger developed a business model that partnered with financial planners; it’s cornerstone was actively managing mortgages for customers.
Simply put, a new mortgage originator could track current homeowners’ mortgages, by rate (and/or term). The lowest-tech system would be in file folders, indexed by note rate. Vendors like Mortgage Coach, Top of Mind, and MyLoanBiz.com offer automated solutions to managing mortgages. Whether you spend the money for automation or not, “managing mortgages” can be fruitful, especially in a low mortgage rate environment like today.
Greg Frost of LoanToolbox tells us that “first in wins”. When a dramatic move in rates occurs, the first originator to call the homeowner with an attractive loan solution usually has the best chance of earning the new loan business. Regardless of rate movements, approximately 9% of all loans outstanding are refinanced each year. Another 11% of all loans outstanding are paid off due to sales. This means that one out of five loans will be retired (and new loans will replace them) annually. A mortgage originator who wants to close 100 loans each year would do well to “gather” data for at least 500 homeowners then.
The strategy works whether you use a computer or a drawer-full of files. Here are some real life examples from practicing originators:
The Federal Reserve on Tuesday announced that it expects to begin operations in early January under the previously announced program to purchase mortgage-backed securities (MBS) and that it has selected private investment managers to act as its agents in implementing the program.
Under the MBS purchase program, the Federal Reserve will purchase MBS backed by Fannie Mae, Freddie Mac, and Ginnie Mae; the program is being established to support the mortgage and housing markets and to foster improved conditions in financial markets more generally.
Blogging ain’t enough if you want to put up big numbers on the scoreboard. I play this game to win so I’m all about scoring points. Every day, I want to hit a grand slam, catch one in the end zone, score a hat trick, or hammer three-pointers. I EXPECT to win, every single day, because of my social media strategy.
Five years ago, I started learning how to use social media to circumvent the pending “Do Not Call” legislation. Since college, I always made my living on the telephone. A typical day consisted of me rooting through my rolodex, with two-phones glued to each ear. That damned “Do Not Call” list threatened my very existence
LinkedIn changed all that, in 2003. I was invited to LinkedIn and found that I was the only mortgage guy in a roomful of well-earning tech folks, who owned homes. Myspace came, in 2004. I honed the rich demographic data to connect me with REALTORs by creating and promoting a group called MLS on Myspace. Active Rain was a no brainer. Facebook is the perfect combination to mix both consumer direct and professional referral platforms.
I’ll be walking, step-by-step, through the mechanics of :
1- setting up a profile on LinkedIn and Facebook
2- adding people you know to your sphere of influence on thos platforms
3- How to identify potential referral opportunities within your contacts’ contacts
4- How to engage the respective communities.
The webinar is free and has over 210 people registered. There is room for 40 more. If you can join us, register here.
Here is both the best and the worst of BloodhoundBlog Unchained so far.
It’s the best, or a piece of the best, because it covers a great deal of hard-nosed, hard-boiled, hard-headed nuts and bolts real estate sales technology in rapid-fire fashion.
It’s the worst, or of a piece with the worst, because it’s me delivering a lecture, rather than us doing the work I’m talking about.
There won’t be any lecturing at BloodhoundBlog Unchained in Phoenix, but there will be a whole lot of the doing of hard-nosed, hard-boiled, hard-headed nuts and bolts real estate sales technology.
This video represents just a slice of the content on the DVDs from BloodhoundBlog Unchained in Phoenix, 2008. We’ve learned a lot since then, and we’ve learned a lot about how to share what we know, so what we really want is for you to come to BloodhoundBlog Unchained in Phoenix this year. But if you can’t do that, there’s a whole lot of great information covered on those DVDs. If you can’t be with us in April — or even if you can — the DVD set could be a great Christmas gift for your career.
We’re marketers, and because of that we know that sales increase when the barriers to commitment are low. So let’s commit, shall we?
Enroll now for BloodhoundBlog Unchained in Phoenix
If you’re ready to rock, all you have to do from here is click a PayPal button to reserve your place at BloodhoundBlog Unchained in Phoenix. The event runs from April 28th to May 1st, 2009. Many more details can be found at the BloodhoundBlog Unchained in Phoenix weblog.
Fair warning: This won’t be cheap. If you’re looking for the best possible deal, and if you qualify, joining the CyberProfessionals might be your best bet. And if you’ve entrusted us with your money before, either last May in Phoenix or in November in Orlando, we want to express our gratitude with a special Unchained Alumnus price. But whatever you end up paying, we’re going to make it worth your while and then some.
Here’s how the prices break out. Just click on the appropriate button Read more
