Real Estate News And Views

Realestatelicense.com has created this blog to keep you informed on recent real estate news, views, and topics. Real estate is a very dynamic field. Everyday there's something new and exciting happening in the world of real estate. Use this blog to stay on top of current real estate events, news, and views and support your real estate license and career. As a licensed real estate professional, you need to know this information.

6 Competitive Selling Tips

Get a real estate agent license and you'll quickly learn the art of competition - especially in a market where inventory is a smorgasbord of choices for picky buyers. Get creative and make your listings stand out with these six competitive tactics.

1. Pump up your online presence.

You completely filled out the MLS data for your new listing plus you posted a few extra photos and spent time describing features. Great, now it's time to get down to business. Get your client's home on as many websites and real estate blogs as possible with a personal Real Simple Syndication (RSS) content feed. Companies like www.myrealtyfeed.com offer an easy way to start showcasing listings and open houses via news readers all over the Internet.

2. Stage to impress.

Fresh paint, mold-free bathrooms, clean windows and spotless carpeting - your listing must have all this and more. Don't be shy when it comes to advising clients on the virtues of staging. Small changes can make the difference between months on the market and a full price offer.

3. Lure buyers with stellar photos.

With a staggering amount of buyers beginning their home search on the Internet, why wouldn't you post an array of quality photos? Quality photos are clear and capture features that matter most to buyers - that doesn't include a cute family pet, a pretty rose bush or the front view of your listing blocked by a car in the driveway.

4. Attract buyers and agents with incentives.

Once you're satisfied your seller's staged home is ready to impress, invite other agents to take a look. Lure them with food, drinks and a gift certificate raffle. The main objective is to get your client's home on the radar of as many local agents as possible. To lure buyers, see what your seller's are willing to include in their price. A flat screen television for the living room, new appliances for the kitchen or even a year of paid association dues can make a fickle buyer take notice.

5. Set a price that reaches your target demographic.

When setting a price for your listing, consider more than just nearby comparable home sales. Who's your target audience and what can they afford? If you set the price even $5,000 to high, some multiple listing services will place your listing in a higher bracket than where your target audience is looking.

6. Advertise to your target demographic.

Find out how your listing's target demographic prefers to receive information. For example, if you specialize in 55+ communities, door knocking with flyers may be more effective than the Internet. Also, if your listing is in a community that caters to foreign language speakers, seek out websites and/or local media that will specifically reach them.

By Danielle Macklin, Allied Schools, www.realestatelicense.com

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Your Time is Worth a Buyer Representation Agreement

Obtain a real estate agent license and you'll be the one managing your time. So how do you know if a buyer is really serious? Ask them to sign an exclusive buyer representation agreement.

Say you've been working with a client for nearly three weeks. You've spent over 70 hours on their behalf researching the MLS and you've chauffeured them through various neighborhoods looking for the "one." Then out of the blue, you find out another agent submitted an offer on the buyer's behalf for a home you showed them. You've lost time, potential leads and gas money.

Although unfair, a buyer has no obligation to use your services, regardless of how long you've worked with them, if you don't have a buyer representation agreement in place. So, how does an agent get a client to work with them without scaring them off with a contract?

First, when meeting a new buyer/potential client, interview them and gage how serious they are about buying. If you decide they're worth your time, set a limit on the amount of work you'll perform on their behalf. After you've proven your dedication to their home search, it's more than appropriate to present them with an exclusive buyer representation agreement.

If the buyer declines the agreement, and you've assisted them to the very best of your abilities, take it as a sign to move on to new prospects. Your time is precious and you want to beat housing market challenges. Hopelessly fickle buyers are red flags that productive real estate agents avoid.

By Danielle Macklin, Allied Schools,www.realestatelicense.com

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How to Choose an Online Real Estate School

Whether you're looking to renew your real estate agent license, or interested in starting a real estate appraisal course, an online real estate school offers a convenient way to quickly meet your goals.

Not all online real estate schools are equal. So when selecting the right online school, make sure they offer the following:

Accreditation

If your online real estate school is not accredited by a qualified accrediting agency, find another school. Why? Accreditation means the school operates on a sound financial basis, has an approved study program, has qualified instructors, approved recruitment and admissions policies and advertises its courses in a factual manner. Accreditation is your assurance that the course you're taking will lead to a viable certificate or diploma.

Student Support

What if you need assistance in selecting your online real estate course? A student support department helps your online experience run smoothly. Make sure your online school's support department is staffed by more than one person. Also, you should have multiple contact options including email, phone and fax.

Educational Support

With an educational support department, you're never alone during your studies. So if you don't understand the escrow process discussed in chapter six, an online school's educational support department will walk you through the steps. In fact, some online schools even require their staff to take the courses themselves so they can better assist their students.

Tech Support

The last thing you want to deal with while pursing a real estate license is technical problems. That's why your online school should offer a tech support department that quickly answers your questions and remedies your computer frustrations via phone, email or fax.

Guarantees

You did your research, but how do you know if the course you purchased is really worth it? Your online school should have a money-back guarantee that allows you to return the course materials for a full refund within a specific timeframe. Some online real estate schools are so confident in their materials, they guarantee you'll pass the state exam, or they'll provide some kind of compensation or benefit. Make sure to inquire about your online school's guarantees and take the time to understand how they work.

An online real estate school is an ideal choice for those who like to manage their own time, enjoy learning from home or must attend to other responsibilities while pursuing their education. Choose your online school carefully and you'll be on your way to a rewarding career in real estate in no time.

By Danielle Macklin, Allied Schools, www.realestatelicense.com

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Visit the New Real Estate Wiki

Once you obtain a real estate agent license, home sellers and seekers will look to you for guidance. So, beef up your trusty list of resources and visit the latest Real Estate Wiki.

Like Wikipedia.com, RealEstateWiki.com is an extensive, user-generated, online encyclopedia - except Real Estate Wiki is everything real estate.

RealSure, a real estate consulting and publishing services company, launched the site in earlier this year with approximately 3,000 real estate terms, 1,000 Q & A's, 500 real estate acronyms, 400 biography pages and more. Around the beginning of June, there were over 19,000 entries on the site. This latest Real Estate Wiki follows the likes of wikis on Zillow.com and Inman.com.

RealEstateWiki.com has approxiamtely 70 user friendly categories that cater to a variety of interests. For example, if you're an agent who needs to renew your real estate license online, simply check out the Government, Associations and Organizations section and click on Real Estate Schools and Colleges. If your buyers need a certified home inspector or want to work with a licensed real estate appraiser, check out the Real Estate Companies section.

Other perks include a glossary of terms, local market reports, blogs, social networks, marketing services and so much more.

Real estate professionals, and anyone interested in real estate, is encouraged to sign up and contribute relevant data to the free site. Log on, check it out and maybe even add your own entry.

By Danielle Macklin, Allied Schools, www.realestatelicense.com

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Experts Say Texas Real Estate Looks Good

With affordable housing, a high quality of life and continuous population growth, Texas is an ideal place to get your real estate agent license.

According to Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M, "Texas has the best tax structure for business and will continue to outperform other states in attracting relocating companies and job growth."

With a healthy job economy, Texas' growing population will not only require housing, but assistance from licensed professionals with a Texas real estate license.

"The job markets in Texas are strong," said Lawrence Yun, chief economist for the National Association of Realtors. "They (Texas consumers) are going to go out and buy homes because home prices are affordable."

Texas real estate agents have the opportunity to prosper while helping others realize their dreams of home ownership.

"There are ample opportunities in the current market for buyers who have good jobs and good credit," said Virginia Cook, chief executive officer of Virginia Cook Realtors in Texas. "Conventional loans are available, rates are reasonable and FHA-insured mortgage applications have been rising as low and moderate-income buyers seek alternatives to subprime loans. In the next 15 years, enough people will move to Texas to create a new Dallas, Austin, Houston and San Antonio."

Now is the perfect time to start your real estate course and get your Texas real estate license. Learn more about licensing requirements by visiting The Texas Real Estate Commission (TREC) website at www.trec.state.tx.us/.

By Danielle Macklin, Allied Schools, www.realestatelicense.com

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Check out the New Realtor.com Beta Release

Do you have a real estate agent license? Check out the new Realtor.com beta release. It's packed with exciting, new features that promise to enhance the visibility of your listings.

The Realtor.com phased transformation started with the "Alpha" release in December of 2007. The Beta release will be followed by the "General Audience" release in July of 2008. The Beta release includes improvements to the home page, search results page and listing details page.

Here's just a few of the ways agents can benefit:

- All listings now include helpful neighborhood and school information
- A map is integrated into the listing page layout
- Lure buyers with stellar photos-basic listings show four photos
- Showcase listings display agent contact info in a business card format
- Showcase listings can show up to five open houses in the Realtor.com control panel
- Listing details are updated several time a day
- A new video tab on the listing detail page can be viewed full screen
- New listings will be posted with a "new" or "new this week" notation

According to Realtor.com, extensive testing confirms the new changes greatly improve the consumer experience and enhance the effectiveness of the real estate agent's advertising.

Take a peek for yourself and see how your real estate career can benefit by visiting www.beta.realtor.com.

By Danielle Macklin, Allied Schools, www.realestatelicense.com

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Prepare for Your California Real Estate Exam

Are you ready to get your California real estate license? Pass your state exam and begin a California real estate career quickly by preparing with effective exam prep tools.

Not all California real estate exam prep tools are equal. For example, some prep kits have more than 30 hours of review. Do you have that kind of time? Instead, choose a prep program that zones in on important review topics, like real estate practice and valuation, in half the time. Here's what to look for so you pass the first time with ease:

Professional Instruction

Don't just memorize definitions, learn real estate agent skills from professionals who've mastered them. Look for materials that include the instruction of an accomplished individual in the industry.

DVDs

It's the perfect addition to your real estate license course. Sit back in the comfort of your home and enjoy instant instruction on key California real estate principles.

Workbooks

Your workbooks should summarize all main key points and include comprehensive review exercises that help you retain each key point.

Practice Questions and Exams

Your California real estate exam prep kit must have a variety of practice questions and exams that closely mirror the state exam. This is powerful and smart way to prepare.

Math Emphasis

You can bet the California real estate exam will have a math emphasis, so look for prep kits that help you sharpen forgotten arithmetic skills.

Study Tips

You've armed yourself with all the recommended tools for passing your state exam, but do you know how to use them? Look for an exam prep kit with an instructional study guide and test taking tips that will help you pass the exam.

With the right real estate exam prep tools, you can take your California real estate license exam with confidence and easily move on to an exciting career change.

By Danielle Macklin, Allied Schools, www.realestatelicense.com

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Good News Thanks to Fannie Mae

Agents have a new way to beat housing market challenges, while buyers and homeowners alike have a good reason to smile. Fannie Mae, the nation's largest source of financing for home mortgages, recently announced four positive changes to their policies and procedures.

Changes:

1. Homeowners can now refinance up to 120% of their home value as long as they are paying their mortgage on time.

2. Fannie Mae will buy jumbo-conforming loans for the same price they purchase other conforming loans through the end of the year.

3. Partnerships with state Housing Finance Agencies are being expanded. This will provide $10 billion in financing for qualified first-time home buyers.

4. A partnership with the Self-Help Credit Union will help qualified families get into foreclosed properties via a rent-to-own program. The program will focus on communities where the real estate markets were hit hardest.

Fannie Mai mortgages are available through a nationwide network of lender partners. Choose the best lender for your needs by checking out Fannie Mae's "Find a Lender Search" on www.fanniemai.com.

By Danielle Macklin, Allied Schools, www.realestatelicense.com

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