Realtors Get more listings from FSBO's

REALTORS - get more listings
Drip−Marketing Campaigns for FSBOs
Be There When They Seek a Professional's Help
Do−it−yourselfers will always be a part of our society. But for many
people, there comes a time when the frustration of doing it on their own
far outweighs the cost of calling in a professional. When an individual
who is trying to sell their own home arrives at this conclusion, you want
to be the first person they call.
This can be achieved by initiating a "drip campaign." To do this, you
must have a series of letters, flyers, or handouts that you send
consistently to your FSBO targets. Successful drip campaigns are
clearly systemized, so the process is easy to follow. There's no
guesswork involved, and this can be easily delegated to one of your
team members once the system has been set up. Here are a few tips
for a successful FSBO drip campaign:
Tip 1: Send out tips that will help the seller learn more about how to successfully market their home.
By providing this value up front, you show sincere interest in helping them sell their home.
Tip 2: Make certain your mail stands out from the other mail they receive.
Printed envelopes generally get less attention than envelopes addressed by hand. It's also smart to include brief
handwritten notes with each piece you send. Make sure your message is not delivered on a day when the usual junk mail
and coupon mailers are distributed. You don't want to be lost in the shuffle.
Tip 3: Leverage technology such as databases and personalization software.
Database management software simplifies the creation of personalized letters. It's not difficult to find a font that looks like
actual handwriting, and conveys a personal touch.
These are some of the things I do as part of my campaign to market my services to FSBOs. In many cases, people
attempting to sell their own home become frustrated and end up turning to a professional Real Estate Agent.
Call me if you are interested in learning more about the co−op marketing opportunities I have to offer!
*RESPA laws require Real Estate professionals to pay a proportionate amount of the costs for co−op marketing and distribution. I have negotiated fair
rates for printing and distribution with my vendors. (See http://www.hud.gov to access RESPA ruling 24CFR3500.14.)
Professional Strategies to make Realtors more successful. Paid by Steve Hoogenakker for Realtor partners.
My way of saying Thank You for your business.

From the desk of:
Steve Hoogenakker
President
ATM Home Loan − MrHomeLoan
Tel: 763−546-1414
Fax: 763−546−1812
steve@MrHomeLoan.com

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About the Author
Steve Hoogenakker provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. Visit: www.MrHomeLoan.com, or you can email Steve at Steve@MrHomeLoan.com
Steve Hoogenakker 5820 74th Avenue N. #100 Brooklyn Park, MN 55443 763-546-1414

Realtors - Steer clear of FHA Financing

Steer Clear of FHA Financing:
Dealing with Investors Who Seek Quick Profits
In a recent article, top mortgage originator and national trainer Greg Frost
noted that hyper−appreciation of property values in Albuquerque, NM had
drawn attention from many out−of−state investors in the last year. The
area saw an influx of savvy investors ready to bid on HUD Repos and
other affordably priced single−family dwellings.
Frost warned mortgage originators and Realtors® to be wary of investors
who try to represent themselves as owner occupants in this type of
situation. They may seek to obtain 97% FHA financing, even though their
real mission is to turn around and sell for a quick profit. Not only does the
lender lose their investment due to the rapid pre−pay in this type of
transaction −− The Government National Mortgage Association−backed
security loses value as well!
This practice is called "flipping," which the United States Department of Housing and Urban Development (HUD) defines
as "...a predatory lending practice whereby a property that was acquired is quickly resold for a considerable profit with an
artificially inflated value, often abetted by a mortgagee's collusion with the property appraiser and others involved in the
mortgage loan transaction."*
Flipping is not good for FHA, GINNIE MAE, or the affected lenders. Moreover, the negative effect dominoes to those
earnest purchasers who end up bearing a harsh increase in interest rates as lenders seek to recoup their losses.
HUD established time restriction guidelines in 2003 in an effort to crack down and prohibit the use of FHA loans to support
property flipping. The rule forbids a sale within 90 days of purchase, and requires increased documentation by the lender if
an FHA−financed home is flipped within 180 days. However, HUD's Prohibition of Property Flipping in HUD's Single
Family Mortgage Insurance Programs; Additional Exceptions to Time Restrictions on Sales; Interim Rule was published in
December 2004 to broaden and clarify certain exceptions to the existing regulation.
The interim rule, which became effective on January 24, 2005, now permits federal agencies that acquire properties [i.e.,
HUD's Real Estate−Owned (REO) properties] as a result of a function of their programs, to quickly market and sell those
acquired properties.
Additionally, the interim rule provides that time restrictions on sales do not apply to inherited property. The purpose of time
restrictions is to curb fraudulent property flips, whereby a property is deliberately acquired for the purposes of reselling
quickly and at an inflated value. While an Heir may turn a property quickly and at a profit, HUD now acknowledges that the
sale of an inherited property falls outside the intended scope of the regulation.
The interim rule also establishes that time restrictions do not apply to the sale of properties acquired by an employer or
relocation agency in connection with the relocation of an employee.
With the exception of an Heir selling a home or a person who is forced to relocate due to a job transfer, the HUD definition
of flipping applies to all transactions by individuals (non−agencies) who purchase or refinance using FHA funds. Greg
Frost advises that if you determine that a potential buyer is really an investor looking for a quick turnaround, steer away
from FHA financing entirely and seek to place the buyer in a conventional loan.
* See http://www.hudclips.org/sub_nonhud/cgi/pdf/28050.pdf
Professional Strategies to make Realtors more successful. Paid by Steve Hoogenakker for Realtor partners.
My way of saying Thank You for your business.

From the desk of:
Steve Hoogenakker
President
ATM Home Loan − MrHomeLoan
Tel: 763−213−2410
Fax: 763−546−1812
steve@MrHomeLoan.com