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Effectively Planning a Customer Appreciation Party in the Mortgage Industry

In order for you to make the most out of your mortgage business, you have to attain long-term success. And one of the best ways to do so is to appreciate your past customers. This can be done in the form of a customer appreciation party. By doing this, you are telling your past customers that they are your mortgage consultants not only now but also in the future. Doing this is one way of meeting your customers again and thanking them again after their loan is done.

Contacting them regularly using useful tools, phone calls, mailings, and emails is one way of staying in touch with them. This allows you to keep them informed of savings possibilities, cash-out options, as well as new programs that your mortgage business offers. Nevertheless, appreciation parties are one of the best ways for you to meet them personally. Here are some steps to take to effectively plan a customer appreciation party for them to foster increased transactions, additional referrals, and customer loyalty.

• Creating a guest list
You begin by inviting the past customers that you have closed a mortgage deal with for the past 2 years. When creating your guest list, review the customer satisfaction surveys that your company has sent to your past customers by mail. If you see from the surveys some very unhappy customers, never invite them to the party. You should rather invite repeat customers and realtors, contractors, builders, insurance agents, and attorneys that are your referral partners. Make sure to invite members of your company most especially those who always keep in touch with your past customers such as receptionists, post closers, closers, processors, and sales managers.

• Setting your budget
Get in touch with your main office or your sales manager so that you can ask them for some budget for this customer appreciation party you are setting up. So that you can increase the budget of the party, consider making as sponsors to the event a credit repair company, title company, insurance agent, or contractors.

• Choosing a venue
Your choice of venue highly depends on the budget that you have. With your budget, you can rent a pavilion at a park, book a party center, or have a barbecue in your parking lot. In the end, what is most important during these customer appreciation parties is that you consider them as being a party and not an event that you can do sales.

• Figuring out party details
Figure out the particular time and day of the event that you are planning. Decide if you will have your party done during the weekend or during the business hours. Choose one based on what you think is capable of having more attendees. You then figure out the entertainment, drinks, and food for your party. Will you hire a band or a disc jockey? Do you want to get a money machine for the adults as well as bounce house for the kids?

• Adding some promotional items
Do you have enough budget to give your guests some door prizes for being attendees to your event? Perhaps you can opt to give a grand prize and have your sponsors for the said event provide some gift cards. This actually allows enticing more of your past customers to attend your party by telling them about the prizes you are giving them such as vacations or household appliances. Inexpensive gifts are fine such as some of your promotional items; however, never forget to include expensive gifts as well.

Posted in Real Estate

Everything You Need to Know and More About Modular Construction

When it comes to modular buildings, you can always expect them to be built almost finished inside a factory and then be arriving on the site of construction about 90-95% complete. The roofing, framing, sidings, windows, doors, insulation, interior, plumbing, and electrical finishes are all done inside the secure premises of a factory. After that, the modules will then be shipped to the site of construction where they must be finished with some paint, interior amenities, appliances, and carpet.

What are the benefits of modular buildings?
• Short construction time: Compared with traditional methods of construction, modular buildings take 50-60% less time to finish.

• Safer construction: Modular construction is done in a well-controlled and reliable facility and not on the site of the construction that is why it is safer over the more traditional methods of construction.

• Environmentally friendly: The installation is less disruptive at the same time efficient factory production methods are less wasteful.

• Decreased labor needs: The finishing and erection teams only need fewer workers in comparison to traditional construction methods.

• Flexibility: Modular buildings can easily be assembled and reassembled and then be transferred to a new location for use.

• Adaptability: These buildings are designed in a way where the contractors can easily add or remove modules as per the client’s requirements.

What are the different kinds of modular construction?
When it comes to modular construction, there are basically two major kinds. You have the permanent modular construction and the relocatable modular construction. Both of these kinds or methods have their own pros and cons.

• Permanent construction: For this kind of modular construction, the performance is done more or less half the time of a typical construction project. Even so, the life cycle for this kind of construction is more or less the same with that of the conventional type. The design considerations, however, become much higher for this construction.

• Relocatable construction: The real estate market gets a lot of relief in terms of their space needs as the time for the project to be finished is very less. This construction, however, has only a life cycle of between one and seven years. Such construction is usually intended for speed and low-cost production purposes.

According to recent statistics, the modular construction market currently has a high growth rate. Though this market has already existed in the past twenty-five years, it is still in its early stages of development. More countries are, however, starting to adapt this particular construction type. There are certain countries that have decided to build this type of homes in about 50 million of their homes. There are even some countries that are planning to include this type of construction on both their industrial and their residential sectors.

The only down side to modular construction will have to be the fact that it requires higher costs for its logistics and transportation. Studies have proven that shipping of modules can be costly if they have to travel more than 150-200 miles from the factory to the construction site. However, it is a cost-effective choice if the distance between the factory and the site is just 125 miles maximum.

Posted in Real Estate

Important Factors to Consider Before Purchasing a Pre-construction Condominium

Some people think that purchasing a condo unit during its pre-construction period might be the fastest and easiest approach to dealing with condominiums. As a matter of fact, with this particular reasoning, you can say that the condo unit is only purchased based on the architectural drawings being presented to the client. However, reality-wise, there are a number of complications that you can expect when you decide to purchase a unit before it is constructed.

As the condo construction progresses, developers usually change their designs. This is expected since a lot of changes can take place during the entire construction period. That is why drafting of purchase contracts has been found to be more of benefit to the purchaser and must be something that you do. If not, the purchaser will suffer the consequences of the construction project being finished late. Some purchasers have even come to the point of already staying inside their condo units while proper permits are still on the process as well as certain parts of the construction project.

Some potential condo buyers should also watch out for developers that sell their condo units during the early stages on the construction but only have possession of more than 51% of the entire condo project. As time goes by, the developers might be in the position of not being able to sell off the condo units that are remaining.

When a condominium unit is not appealing to new buyers, you can expect a major decrease in the entire value of the condo units. Once he developers will find out that their condo units are not on high demand, developers will decide to rather have the unsold units rented out. This even makes the entire value of the condo unit even lower.

Therefore, if you have plans of purchasing a condo unit, you must speak with a well experienced lawyer first who will take charge in creating certain conditions on your purchase contract that will benefit you. Included in this purchase contract must be the fixed completion date. When the developer has failed to keep up with the estimated time that they can get the condo unit done, the buyer will then have every right to get back their deposit. This kind of agreement even helps in protecting the current value of the condo units that have been previously sold.

The timing of the completion must revolve around the condo buyer. Based on advice from the experts, the deed and proceeds from the sale of a unit must be kept in escrow first under the guidance of the lawyer of the developer. This must only cease once the developer has already sold more than 51% of the condo units.

The purchaser of the condo unit must make sure to pay the occupancy fees to the developer that includes the anticipated mortgage and the monthly maintenance fees for as long as both parties are keeping their agreement. There are some developers who will push these things without doing what is required of them in the terms that you have laid out with your lawyer. You have to take note of these things so that you can later on decide how you can go about in dealing with them.

Posted in Real Estate

Deciding to Sell Your Condo Now

Do you have plans of selling your condo unit? The present might imply that this is the right market; however, is it really the perfect time for you to sell yours?

If you have bought your own condo unit four to five years ago, you might come to conclude that now is a good time to sell it. This decision might be predisposed by the condo prices in your location coming to a high. Aside from having an increased selling price, condos that were purchased in the past might have increased their current value as well. Yet does an increasing condo market imply that you should wait much longer to have the prices even climbing higher or sell your condo unit now? This is the most common dilemma most condo owners are currently facing.

So, should you or should you not sell now?
According to recent real estate statistics in terms of condominiums, now is indeed a good time to sell. Having an increased condo unit value implies that if you will be selling yours now, you can invest more of your higher profits in buying another property that is new. This, thus, allows you to continuously have your equity growing. If this is how you see yourself dealing with your own condo unit and its future, then you can most definitely benefit from selling your condo unit now so that you can also make the most out of the increasing value of your new property.

This plan might not work for other condo owners owing to the fact that they think that choosing not to sell their condo units now might make their value continue increasing. For them, by waiting another year, they could get a higher resale value. But then, they tend to forget that the rest of the condominium market is also increasing in value. After a year from today, you will be getting higher asking prices than what you get today. This will just turn your investment into a less profitable one as time goes by.

Also, you have some impending price corrections. When you look at how successful the prices are going up in the condo market, you are sometimes led to think that these prices might suddenly come to a drop. Price drops can be quite difficult to tell. Even so, you have to remember that having increased growth then having it decreased will make the impact of the decrease much softer.

For instance, you get an earning of 15% with the increasing condo market, it will eventually lead to a 10% decrease, but still you are able to get some 5% from it. This basically means that with the current high growth rate of the condo market, you can always expect the prices to be going down to that you have initially paid for.

At the end of the day, what you should keep in mind is that though now is a good time to sell your condo, this is not reason enough that you should really do so. Yes, it can be the perfect opportunity if you have been thinking of selling your condo for some time already. However, you should not be rushing things. As a matter of fact, if you have plans of selling your condo in the current market, this is also the perfect time for you to grow your investments and equity. So, you better buy a new property now before you get to sell your old one.

Posted in Real Estate

Top Tips in Getting Real Estate Leads and Turning Them Into Your Customers

Whatever type of service you offer, you have to understand that your business will never get noticed if you do not have any customers. Time and again, a great majority of people prefer making business transactions with businesses that have proven their experience and reputation in the industry. This same thing is expected in the world of real estate. You need customers and you also need leads.

So, how you do get leads and then be able to turn them into your customers? How can a real estate business such as yours be able to stand out better from the crowd? Here are some top tips to ponder to do so.

1. Take a more personal approach. Work closely with people and on a more personal level. Working on a personal level with them means that you cater to them one customer at a time. Your mindset should be more of making connections than making money. This must be something that you have to keep in mind. Make your customers look at you as being their friend, someone they can always go to when they have some real estate concerns that need addressing.

2. Utilize the latest in technology. The whole concept of getting leads revolves around you being able to show your prospects what you are capable of doing. Show to your prospects that your company offers them more value than your competitors. In what ways can you do this, you may ask? For starters, make use of the latest in technology. Rely on the latest technology to advertise your company and make your listings look more appealing. Do not be afraid to experiment. Your customers will surely appreciate this about you.

3. Make your selling propositions more unique. What sets you part from your competitors? What do you offer that they do not? If you can answer this then that is your unique selling proposition. This is what makes you different from your competitors. You must be guided by a value proposition something that might start off by saying “this is why should be dealing with me rather than by competitors.”

Most real estate agents say that they work hard for their clients, but this is never enough. You cannot simply convince your prospects by saying this. To better stand out, you must have an offer that is both strategic and convincing. An offer that tells your leads who you serve, how you can help them with, and why they must hire you over the others.

4. Provide useful information. Become a rich source of knowledge. You must be the kind of person that your customers will not have a hard time going to for some information that they might need. This assures your customers that you are knowledgeable in anything and everything related to real estate. Not only will doing this let them trust you and work with you again but also this allows you to get more customers as per their recommendations.

5.Bear a mindset that knows how to solve problems. Real estate is really all about solving other people’s housing problems. You are solving each person’s problem one after the other. This goes to say that you must bear a mindset of a problem solver. Basically, your disappointment or success all depends on the number of problems you can solve. You must constantly learn and relearn. The more satisfied your customers are will your solutions, the more customers you get in the future and that alone helps you create a real estate business that is truly a standout.

Posted in Real Estate

An Inside Look at How Real Estate Agents Do Property Valuation

There is no denying that every home owner selling their property will want nothing more but to get the best price for the property that they are selling. This fact has thus led a lot of home owners to choose a real estate agent based on their being able to offer them the biggest valuation initially for the house that they are selling. But then, this is one very expensive mistake that most home owners have experienced.

When it comes to selling your house, what it is valued at is crucial. When the estimated value that is given to it is wrong, you will end up selling your house for a lower price than the actual value of your property. On the other hand, overpriced houses for sale are not too popular among most potential home buyers. With such prices, you will most likely wait longer periods of time before you can get a good offer or none at all. These are just some of the reasons why the real estate agent that you choose must be on that can get property valuation right.

Below are some of the key factors that help real estate agents be able to do the right valuation of your property.

1. Local amenities: Upon property valuation by the real estate agent, the location of the house for sale is one of the key factors that determine its current selling price. The selling price is basically influenced by how close the house is to local amenities such as banks schools, restaurants, parks, and shopping malls. A real estate property that has good transport roads will be priced higher in comparison to that which is located in secluded areas.

2. Size: A real estate agent will also consider the size of the house that you are selling when they are having your real estate property valued. The number of bedrooms that a house has affects its selling potential and price. In addition, the size of each room also assists in determining the buyer demographics.

3. Aesthetics: Basically, for a better priced property, it must be clean, tidy, and well-maintained. In addition, you can raise your selling price higher if your property is near water bodies or offers a great view. In the same manner as hotel rooms with a great view cost more, so do real estate properties that do the same or are near the beach or the river.

4. Kerb appeal: Real estate agents believe that how your property looks on the outside is equally important as how it looks on the inside. While the real estate agent will be assessing your outside surroundings, they will determine whether your property is standout in your neighborhood and if our front garden looks well maintained and neat enough. A house that offers an appealing exterior will be priced higher no doubt compared to that which does not.

5. Potential: Aside from the size of the property that will have some huge influence on its selling price, the flexibility of the property also matters. Real estate agents even make sure to determine if the property can still be extended. A house that has more potential to be improved can increase its selling price. Properties that can be renovated and improved can shoot up their selling prices easily.

Posted in Real Estate

Effective Ways to Maximize the Space of Your Apartment Balcony

One of the most sought-after properties in the present are the modern apartments. Usually, they attract young adults because of their being reasonably priced and their being in close proximity to amenities that they need most of the time. Apartments are also popular not just among young adults but also among other target groups that find them reasonable places to live.

Sadly, most apartments come with balconies that are very small. This makes it rather difficult for apartment dwellers to attain some kind of relaxation that these balconies should supposedly offer them. However, with just a bit of creativity, you can make the most of your apartment balcony space and make it the perfect spot for some R&R time.

Below are some effective ways to maximize the space of your apartment balcony.

1. Select only a few furniture pieces but make sure that they come with many functions.
With balconies supposedly being an area in your home that you can relax, they should have some loungers, tables, chairs, and many more. However, since apartment balconies only have limited spaces, it can be challenging to even just have more than one chair present in such space and still have an available walking space. To maximize your apartment balcony space limitations, find a table or chair that you can use as storage for other items of yours such as shoes, books, and magazines. You can actually get more multifunctional pieces as long as they are kept well organized to make some differences.

2. Introduce some warmth by having hanged plants and flowers.
In terms of plants and flowers and limited apartment balcony spaces, you might think that you cannot beautify this space of yours with some foliage anymore. Yes, the space is a bad idea for potted plants; however, you can have some plants and flowers that are hanging on your balcony that will not have any effect at all to you small apartment space. You have a number of options of hanged plants and flowers but just be sure to select the perfect number and sizes so that you will not be filling your small space completely with them. The whole point of getting hanged plants and flowers is making sure that your apartment looks more appealing and welcoming.

3. Improvise as necessary.
One of the perks of going creative with your apartment balcony space is that you can use this space for more than one purpose without having to spend a whole lot of your money for it. For example, if it seems impossible to get a set of chairs or lounger on your balcony, you can instead use some durable wooden crates for sitting purposes. They can just take up a small space of your balcony and give you a comfortable place in your apartment that you can relax. Just be sure to include some pillows and comfortable cushions on them. The open portions of your crates can also be used as storage for other items of yours. You can add a few books of yours or have some other items that can fit them stored there as you please.

With tiny apartment balcony spaces, it really just takes creativity and the abovementioned tips to get you started, and for sure, you can make the most out of this particular area of your home in no time.

Posted in Real Estate

Effective Real Estate Marketing Tips You Need to Know

Real estate marketing should not always be overly complicated. It also does not mean that you must always rely on the services of a real estate agent in selling and marketing your home. To better understand marketing in real estate, this article will expound about the matter mnemonic style. Here you can find some basic facts about real estate marketing that can better help you in your real estate endeavors whether you are a professional in real estate or just an average person selling your own property.

• Merits: First, make sure to clearly understand and identify what merits or strengths and weaknesses the house that you are selling has. How can you enhance on the positive of your home? How can you show your potential buyers that your home is the best choice out there? Why do you consider these factors your home’s merits or strengths? When it comes to effectively marketing homes, you have to sell its merits and not some technical information about it and the like.

• Assets; attention: Always bear in mind that for most people, a house is one of the biggest asset that they can ever have. Why must a potential buyer choose to live in your house? What sets it apart from other houses? How can you put some focus on the strengths of the home that you are selling?

• Relative: Know your competition in the market. It might look bizarre for most, but actually, as a home seller, you can benefit from attending open houses of other houses so that you can understand that local market better as well as do comparisons yourself. If you do this, you will be more willing, able, and ready to put a selling price on your house properly. How does the house that you sell compare to the other houses being sold in the local market? Be as objective as you can be.

• Knowledge: Every local real estate market has their own differences from the others. To get a better idea of the local market, make sure to talk with your real estate agent and professional about their insights of the local real estate market. This allows you be more realistically perceptive and have more realistic expectations.

• Energy; enrich: Find a real estate agent that is filled with energy and positivism and has an enriching focus. If the real estate agent that you choose is less energetic or not at all, then in turn, potential buyers will also not be too enthusiastic to work with them.

• Timely; trends; tailoring: Hire a real estate agent who is prompt so that you can benefit from every opportunity. He must make timely actions and decisions. Find someone who knows the relative trends such as your marketing options and avenues. You must find someone that can tailor their marketing plan to be fitting to your particular property.

• Insights; ideas: Go with a real estate agent that is not ashamed to share their insights and ideas with you. The best marketing approach will always be teamwork between the real estate agent and the home owner.

• Needs; niche: Does your home have a particular niche that will be attracted to it more? How might the home that you are selling fit well with the priorities and needs of your target market?

• Gain: And last, the purpose of your real estate marketing plan is to ensure to gain attention, views, and offers for the home that you are selling.

You see, MARKETING is crucial to selling your house in no time.

Posted in Real Estate

The Risks That You Take When You Buy a House During Its Redemption Period

Some home owners face financially challenging situations that leave them with no other choice but to sell their properties. However, if a property is mortgaged to a particular financial institution, such institution also has the right to foreclose the said property. But then, you have what you call the redemption period wherein the home owner will still get a chance to buy back their house that was foreclosed. And yet, there are certain risks that you have to pay close attention to so that the stipulated time given to you can be taken advantage of.

First things first, you need to understand that the redemption period that is given to you is constrained by time. Basically, you will only be given a short period of time to buy back your house after the third party or buyer has already filed the pertinent paperwork to court. When the said period is finished, the opportunity to regain the ownership of the house in question will be forfeited.

Another risk that you will be taking involves the price that you will have to pay to regain back your ownership of the house. Generally, the cost of the house alone is not the only thing that you have to keep in mind. You also have to be paying for the documentation costs, taxes, and mortgage overdue. All of these costs should be paid by you during the given redemption period.

Third, there are personal risks on the part of the home owner who wants to buy back their house. One of which includes their capacity to raise lots of money for them to be able to take care of all the associated costs necessary to gain back ownership of their house. When they were facing their financially challenging situation, for sure, they also had to take care of other expenses such as school fees, credit charges, as well as unpaid utility bills. All of these costs are even just additional ones from the regular costs involved in daily travel and food needs.

Aside from those three major risks just mentioned, there are also associated risks that can just appear at any instant. For instance, most home owners must find another place that they can live in for the meantime when they still have not bought back the house that has been foreclosed or sold. Again, there will be additional expenses that will be eating up the amount of money the home owner is trying to raise to redeem their house. Nevertheless, there are rare situations where the third party will still allow the home owner to live in the house until it has been redeemed or up until their redemption period has expired.

Basically, the redemption period is akin to a last ticket to the best movie of the year. Yet in comparison to movies that you can just stream over the internet, house re-ownership can be quite tricky. It involves a lot of money, time, and effort. These three elements must be ever-present along with some perseverance so that the redemption period will be overcome by the home owners leading them to gain back possession of the property that they have grown with and created and shared memories with.

Posted in Real Estate

Key Characteristics That Your Real Estate Agent Must Possess

Whether you are selling your home to relocate or you are finally buying a home, you will have to decide in the end if you should be hiring the services of a professional real estate agent or just do the selling or the buying part all on your own. If you decide to hire a real estate agent, then good for you. If you think that you can just do everything on your own, then you might want to think again.

You see, according to recent statistics, people who decide to sell their own homes have been found to net less even after they are done paying for commissions. Furthermore, the process of doing the entire thing themselves has led them to become tenser; stressed out; and physically, emotionally, and mentally challenged. And so, if it comes to deciding if you should hire a real estate agent to sell your house or buy a house, then you must do so.

Today, there are a number of real estate agents that you can choose from. However, this does not mean that you should just choose anyone who claims to be the best out of the bunch. There are actually some key characteristics that good real estate agents possess, and you must be sure to find them in the real estate agent that you hire. Here are some of them.

• Attention, attitude, aptitude, articulate: When looking for a real estate agent that you can hire, find one that pays close attention to your needs and one that ensures to find ways to be of value to you. He or she must have a positive attitude and provides focus and benefits to you so that you will not have a hard time buying or selling a home. The agent must also have a well-developed aptitude. Furthermore, he or she must be very articulate in getting his or her message across and in inspiring and motivating their clients.

• Guarantees; generate interest; guardian: It is your right to hire a real estate agent that not just gives you guarantees but make sure to act on them. Guaranteeing does not mean however that he or she will have determined a fixed price for your house for sale or the house that you are buying or even know how long it will take to sell or buy your house. Guaranteeing here means that the real estate agent will do what he can and do all that he can for your best interests. Moreover, your agent must serve as your guardian, someone who looks after your best interests.

• Empathy; energy; emphasis; evaluate; excellence: The real estate agent that you must hire must be one that knows how to effectively listen to you and knows how to empathize with you. Your agent must possess an energy that not just comforts you but inspires you as well at the same time, he or she must attract others to be attracted to the house that you are selling, for instance. His or her emphasis must be on getting things done and getting them done the right way. A good real estate agent must not thrive on making empty promises but instead must know how to carefully assess your property and tell you what its strengths and weaknesses are. Lastly, find a real estate agent who does not just settle with being good enough but being excellent in every aspect of real estate.