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Realtors Need to Stay Connected

Tuesday, December 14th, 2010

More cell phones are sold with SMART features than ones that are not. It has become the norm to be connected to the office, to three different websites, and several email accounts 24 hours a day 7 days a week. It amazes me that at the last 3 Social Networking functions I attended people spent just as much time buried in there Iphone than they did Actually being Social (I received a text from someone I was talking too the other night). This is the new norm. We can’t fight it, it is a battle we won’t win. But the one thing that is still difficult to do from a phone is real work. So we decided to help, several months ago Choice Title opened up WIFI rooms in each office. These are secure connections that agents or lenders can use to work while you work (Or check up on your Farmville crop if needed). So stop on by, bring you laptop and continue to work away from the office, or play Angry Birds all day the Choice is yours.   

Gareth Beale is the Marketing Director for Choice Title LLC, you can respond here, or contact him directly Gareth@choicetitle.com

 http://twitter.com/gareth_beale

 His weekly Blog can be found here.

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Posted in For Lenders, For Realtors, Gareth, Uncategorized | No Comments »

Friday, December 3rd, 2010

Fed Releases Updated Appraisal Guidelines
The Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the National Credit Union Administration jointly on Thursday released the latest and what is expected to be final version of property appraisal guidelines.

The new guidelines set a standard for appraisal independence. Lenders can exchange information with appraisers, but they cannot “directly or indirectly coerce, influence, or otherwise encourage an appraiser or a person who performs an evaluation to misstate or misrepresent the value of the property.”

Among other rules:

· Banks cannot tell the appraiser of any expected or qualifying estimate of value.
· Banks cannot specify a minimum value requirement for the property that is needed to approve the loan or as a condition of ordering the valuation.
· Banks cannot tie an appraiser’s compensation to loan approval.
· Banks can’t blacklist an appraiser if his valuations fail to meet expected thresholds.

The agencies also clarified that broker price opinions (BPOs) don’t comply with the minimum appraisal standards.

Source: Housing Wire, Jon Prior (12/02/2010)

Gareth Beale is the Marketing Director for Choice Title LLC, you can respond here, or contact him directly Gareth@choicetitle.com

 http://twitter.com/gareth_beale

 His weekly Blog can be found here.

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Posted in Consumers, For Lenders, For Realtors, Gareth | No Comments »

Impacts of Non Decisions

Thursday, July 15th, 2010

Recently I found myself in a Fast Food Establishment, This particular restaurant (I know it was technically one because it said so on the sign) has 12 pre-established meals. It has been the same 12 meals since I was in High School some Twenty years ago, minus the occasional rib burger thingy or kids movie character sandwich. So you can imagine my frustration when the couple in front of me couldn’t decide between a # 3 and # 6, to say they where undecided would be an insult to people who have no cognitive activity at all. Apart from my general aggravation at this particular chain a # 3 and # 6 are no where near similar at all, “I can’t decide between buying a hamburger or a Parakeet”. So I started thinking how these people make it through a day, we all have to make choices, some lead to prosperity and some don’t”. But if you are one of these non-decision makers, think of the opportunities that you didn’t get (or actually never had a chance of getting). Whether it’s a hiring issue, or a customer service issue or one of the hundred other decisions you have to make each day, your ability to move forward will impact your short term business more than anything else.

To be honest, your ability to make these decisions have already impacted the business you currently have. These decisions you have made (or more importantly avoided making) have consequences. Are you missing out on opportunities, or advantages over competitors by simply NOT.

Gareth Beale is the Marketing Director for Choice Title LLC, you can respond here, or contact him directly Gareth@choicetitle.com

 http://twitter.com/gareth_beale

 His weekly Blog can be found here.

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Posted in Consumers, For Lenders, For Realtors, Gareth, Uncategorized | No Comments »

Why Have Clients, When You Can Have Fans?

Tuesday, April 20th, 2010

I have been dwelling on whether or not to Post on this subject, but I think it is fitting right now. First we will work on identifying current Fans, and keeping them, then we will start work on transforming clients into our Company Fans. In recent years we have all seen a shift in the real estate industry from efficiency, and speed to service and assistance. While the 10 day process from contract to closing still occurs, it is now the exception not the rule. I don’t believe this is a bad thing, but an opportunity to make some life long clients instead of customers who get in and out as quickly as possible and develop no real relationship, and no real loyalty. While this process is not an easy one, it is something we can all do with no specific skills, or classes, it is something that takes time more than anything else.

What is a Fan?

 

Well it seems silly to ask this question in South Louisiana right now, because we see evidence of it every day. Whether it is the Saints Flags fluttering above car windows or LSU decals on every single car’s back glass (My European relatives thought that all the cars came like that from the factory). Baton Rouge is the only city I have been in, where it is perfectly natural to see grown men wearing bright Purple and Gold from head to toe on a daily basis. Fans by definition are supporters, enthusiasts even, in some aspect of your business or company. There is something about the way your company works or a specific employee that is essential to that fans business. Identify what that trait is, or why your current fans became fans in the first place.

Products don’t make fans, service does.

While I agree with about 90% of the above statement, there are some people who this does not apply too. MAC heads come to mind, not the guy who has the Ipad and the Iphone, but the guy who has the pad, the phone, 9 different Ipods, a Mac top and an Apple Tattoo. If you sell PC’s, don’t talk to this guy. But for the “normal” people service is where it starts, and in today’s economic outlook, it is a good place to concentrate on as well. But you will need to expand your search from just “customer service”.

Service doesn’t make Fans, Individual Service does!

We tend to group people, especially in business. It makes life tidy and easy to organize. This is something I am trying to break from in my own work day. Realtors, Brokers, Lenders, Agents, Bankers, Developers, FSBO’s, these are all groups that are made of individuals, who want and require different things. It is impossible to look at that list and imagine making Fan’s out of them. Does every Lender want 24/7 access into our online GFE calculator. I doubt it, there are some Lenders that I could say, “if you use the GFE calculator I will give you a Buick,” (which I wouldn’t because that would be a RESPA Violation) and they still wouldn’t trust the computer to give them accurate numbers. And that is Okay, we have processors to give that information as well. Don’t force the Fan into the Process, adapt your process to the Fan. Then educate Fans on why your company uses that process. A Fan will trust you, and allow you to serve in his/ her best interests. Make sure as your business grows, you don’t leave out the Fans who got you there.

Fans Can Be Profiled.

Profiling has gotten a bad rap here recently, but when it comes to gaining Fandom, it is essential. You might know a client likes coffee, but a fan will know where the pot is, and know how you take your cup as well. As a sales rep, it is a good idea to share your fan’s profile. Whether you store it in the company contacts database or just tell others in the office, the important thing is to let everyone know when a Fan is coming in. It is an opportunity to share a fan, it is a lot of work to maintain a client let alone a Fan, so share the load with the office. The more relationships the Fan has, the less likely that Fan is to stray.

Fan Tracking.

 

If it sounds like Fans are a commodity or an asset, well lets be honest they are. Keep them YOUR commodity. I promise you the competition is eyeing your fans, and why wouldn’t they? If a Builder only uses one realtor for all of his properties, there are several other agents waiting for a mistake to be made. Track your fans happiness, and give some appreciation when needed. If your fans start using the competition, find out why, IMMEDIATELY. Don’t wait 6 months, and then wonder why you didn’t get invited to the Christmas party. When a fan makes a switch, they tend to get very vocal about it, they want everyone they know to use their “NEW GUY”, they need to know they made the right decision, and will work to prove it. This is great if you’re the “NEW GUY”, not so much if you’re the one without the Christmas Card.   

Internal Fans!

Make sure your sales force has internal Fans, those people in the office who work hard to actually deliver the product or service on time and correctly. This isn’t always easy, communication, respect and appreciation is Key. If the sales force doesn’t have fans in the office, it is difficult to develop new ones outside the office. Just as No one wants ME processing closing documents, most processors have no desire to give a presentation to a room full of agents. But we can’t deliver the service fans require without the trust that our fans are being taken care of.

Treat office/ admin employees well. Those fellow employees are your internal customers and need a regular dose of appreciation. Thank them and find ways to let them know how important they are. It sounds silly, but I used to walk into each office and give a small round of applause, what started as silliness turned into me just letting the people who made my paycheck know I was thinking about them. Treat them with respect and chances are they will have a higher regard for your fans. Appreciation stems from the Outside In and from the Top to the Bottom. Treating customers and employees well is equally important.

Next: Turning New Clients into Fans!

Gareth Beale is the Marketing Director for Choice Title LLC, you can respond here, or contact him directly Gareth@choicetitle.com

 http://twitter.com/gareth_beale

 His weekly Blog can be found here.

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Posted in Consumers, For Lenders, For Realtors, Gareth | No Comments »

Provision Extends Flood Insurance Program to the End of May

Friday, April 16th, 2010

A few weeks ago, the Senate left town for the Easter recess without voting on extending the NFIP (National Flood Insurance Program), thereby resulting in the program’s expiration. The House had previously approved, by unanimous consent, a $9 billion measure containing one-month extensions of several programs including unemployment insurance, COBRA subsidies for health benefits and flood insurance. Senate leaders of both parties hoped to have their chamber approve the same bill before the Easter break, but Sens. Tom Coburn (R-Okla.) and Jim Bunning (R-Ky.) objected to the House bill saying it was not funded. A similar scenario occurred in early March. Congress approved legislation last night that reinstated the National Flood Insurance Program. President Obama signed the measure into law within an hour after the House passed the measure.

The provision is effective until May 31. It is retroactive from March 28, when the fourth temporary extension since the program’s authorization originally ran out on Sept. 30, 2008. This will rectify and lapse in coverage and allow people living in flood prone areas to move on with their lives.

Officials of the American Insurance Association said the goal of congressional leadership is to finish work by May 31 on a so-called tax extender’s bill, H.R. 4213, “thus precluding the need for another short-term extension of the NFIP.” This Bill will extend and fund NFIP thru Dec 31, 2010.

According to officials of the Independent Insurance Agents and Brokers of America, “in theory, the NFIP will now return to normal operations and since the extension is also retroactive, any new policy applications or renewals that were signed and submitted during the hiatus will be effective from the date of application (or in the case of waiting periods, the waiting period will start from the date of application).”

At the same time, the House Financial Services Committee plans to unveil legislation today providing long-term reauthorization and reforming of the program.

Understandably agents are “frustrated by these repeated one-month extensions and the periods of expiration that sometimes result from them.” The NFIP is meant to provide a level of stability and protection “for homeowners and businesses against dangerously unpredictable and costly flooding events, not to be an unpredictable ‘here one minute-gone the next’ program subject to monthly congressional action. The IIABA strongly urges Congress to pass a long term extension of this critical program,” Charles Symington, IIABA senior vice president of government affairs said.

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Posted in Consumers, For Lenders, For Realtors, Gareth | 1 Comment »

CHOICE TITLE’S MARKETING REP. HAS FEAR OF PUBLIC SPEAKING

Friday, April 9th, 2010

For all my realtor and originator friends… I  found a great motivational story that I wanted to pass on to you but instead of just telling you the story I decided that we all can use the entire web-site,  it’s awesome! Save it in your favorites and take time to read from it everyday. One of my favorite stories so far is  Fear of Public Speaking, it’s my biggest fear,  most of you that know me would not think this of me … it’s so true, I admit it!  I have tried before and I am just a mess! I told myself,  “Alanea!  snap out of it, you can do this; so I am now challanging myself and letting all of you in on it.   I will even ask some of you to be my critics by practicing in front of you. I need to do this!  I will do this!! Anyway, here is the awesome web-site. 

  www.motivational-well-being.com/.  

Posted in Alanea, For Lenders, For Realtors | No Comments »

Don’t Let Negative Attitude Block You from Your Success

Friday, March 26th, 2010

It is no secret that I have been focusing on getting to that “Next” Level this year. I have read several books recently from management to marketing , but without the right attitude no amount of knowledge can get you past whatever is blocking you from your goals. Recently I was discussing this with Ryan Lowe and shared my desire to write a blog on the subject, my problem was I am no expert on the matter nor do I wish to research it and take away from my current focus. “Just use my Blog posts”, was his answer. Hopefully his generosity is reciprocated in the additional exposure to his website and upcoming book. Ryan is an inspiration to all that know him which is only topped by his charisma and willingness to help a friend. Thank you Ryan for your help.

Don’t Let Negative Attitude Block You from Your Success

Originally Written By Ryan Lowe 02/02/2010

Blatantly Stolen By Gareth Beale 03/25/2010 (with permission)                                                 

The other night I was reminded by a close friend of mine why I decided to write the book “Get Off Your Attitude.”  She had mentioned that she thinks that most people let their negative attitudes block them from their successes in life. It could be any type of success; it could be in friendships, marriage or their career. We discussed several possible reasons for this, and the ones that really hit home to me are your past, your current situation and the influence of your circle of friends. The reason why these hit home to me is because they are areas in which I have personally struggled. Please note that I am writing these blogs and the book because I have know how it feels it how these areas can drain you and keep your from your success.  Our past is something that always reminds us of where we have been, and too often we let it dictate our present and our future. This is a habit that I think we have all struggled with at some point in our lives, and some of us have never learned how to let go of the parts of our past that haunt us. We simply must learn to let it go.  No one on this earth can change it, rewrite it or relive it. We must accept that it is over. The one thing you can’t do is forget the lesson.  There is beauty in every lesson of our past, and is the most important aspect of our past. Have you ever noticed that when we first choose not to see the lesson, that it just keeps coming back at us until we do?

Your Past

I firmly believe that one of the most powerful things we can do to discover these lessons in life is to journal.  I write in my journal every day. I write down the good, bad, and the ugly. I write it down and move on. This is one way that can help you know that you are moving on and that you are a student of life. Whether your current situation is good or bad, always remember that it will change. We all seem to think that the current situation is forever, but it is important to realize that it is only for a season. This is true whether you are in a bad relationship, a bad job, or in a bad financial situation.

Your Current Situation

One of the things you can do to get into a better current situation — it doesn’t matter what it is, how bad it seems, or how long you’ve been in it — is to have a game plan to make it better. You also must have goals. Your goals and game plan will keep you on track to a better situation. One the things I have learned is that you can’t change this overnight, but you can work on it a little bit daily and take it one day at a time. This will put you in control and it will definitely help you to develop a better attitude. The people you are surrounding yourself with will dictate your future. I remember growing up and my mom and dad always saying things like, “birds of a feather flock together,” or my favorite is: “You lay down with dogs and you will get fleas.” I never really understood it until I was older and I must admit I didn’t listen to them. I thought I could hang out with anyone and I could keep on moving towards my goals in life. Take it from me, it does not work that way. You must surround yourself with people that are on the same playing field you are on. If you are looking to live a great life and you are looking to better yourself, you must.  I remember going to one of my first motivational seminars at a young age and the speaker said, “If there is someone in your life that consistently stresses you out, get rid of them.” I did exactly what he said and it worked. I focused on others that could lift me during tough time. Remember also that you don’t want to be the person that they want to get rid of, and so make sure you bring value to your relationship to them. The way you can do that is to be positive with them and be truthful when it comes to helping each other.

 Your Friends

One of things you can do is write down the top five people you surround yourself with.  Ask yourself, are they bringing a positive effect and bringing joy to your life and are you doing the same for them? Also, you must ask yourself, “Are these individuals people that you can trust and are they people you wan to help achieve success their own lives?” This will be one of the most important things you do to help yourself achieve and maintain positive attitude.

Keep in mind that these three areas are only a few that I decided to write about in this blog. There are more that I will discuss in future blogs and in the book.  I strongly welcome your feedback and I ask you to please let me know if this has helped you and if you have any suggestions on how to work on these areas and make them better. I love to hear how people have gotten of their attitude. Also, please feel free to share this blog with any of your friends who you think will benefit from its message. I truly want help others reach their dreams and goals in life with a positive attitude.

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Posted in Consumers, For Lenders, For Realtors, Gareth, Uncategorized | 2 Comments »

New RESPA Guidelines to change REO Procedures???

Friday, March 12th, 2010

RESPA Section 9 covers the rights of the buyer to choose the title company in a purchase transaction.  Sec. 2608 of RESPA under the heading of Title companies; liability of seller states:

(a)    No seller of property that will be purchased with the assistance of a federally related mortgage loan shall require directly or indirectly, as a condition to selling the property, that title insurance covering the property be purchased by the buyer from any particular title company.

(b)    Any seller who violates the provisions of subsection (a) of this section shall be liable to the buyer in an amount equal to three times all charges made for such title insurance.

Now ask any realtor, banker, or  asset manager and this is not the way the REO market has been run. In fact it was the complete opposite, statements like “seller to choose closing attorney”, or “title company seller’s preference” is not only the norm but expected. The original idea was that systems and tools could be put in place to handle large volumes of closings. RESPA obviously saw some risk for corruption, or at the very least, dealings that may not serve the consumer.

The Federal National Mortgage Association (FNMA) must have finally heard this loud and clear because they have now made a dramatic change to their REO addendum on Section 2B, page 1 line 4 to state, “The closing shall be held at a place so designated and approved by the Purchaser.”  I would imagine we will start to see many banks follow FNMA’s lead in the future.  We’ll see…

For more information on REO Properties go to our Closing 101 section or contact Gareth.

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Posted in Consumers, For Lenders, For Realtors, Gareth, News | No Comments »

Welcome to the Choice Title Blog

Tuesday, January 19th, 2010

Welcome to the new Choice Title website. We created this website based on what our clients wanted and ideas given to us from sites outside the industry. Our aim is to have this Blog not only give you a place to learn what is going on in the world of real estate but also an insight into Choice Title. With new HUD-1 changes going into effect this month, we wanted to ease the turmoil and concerns of clients. With the use of our GFE calculator, lenders can develop our fees for their Good Faith Estimate without having to pick up a phone, or even a calculator. Realtors can contact our processors through live chat without having to navigate phone systems, or download potential harmful software. Consumers can ask for help or information packages 24/7.

Our new software is in place, we have taken all the classes (and even given some) and we are ready to help you get through the process of a home transaction, no matter if you are the consumer, the realtor, or the lender, our goal is to help you through the new process.

So browse the website, follow us on twitter and add this blog to you RSS feeds. Check back often, because this is just the beginning for www.CHOICETITLE.com.

Posted in Consumers, For Lenders, For Realtors, Gareth | No Comments »

I Love Email

Friday, December 4th, 2009
I Love email and can’t Imagine working without it. I am always conscience about what I am writing, double checking my punctuation, and making sure that I am using proper grammar. I always remind myself that what I am writing is a reflection of my professionalism and my personality. I care a lot about how I come across to the people I am sending email to, no matter who the audience is!
I wanted to share this information I found on the web site www.emailreplies.com.
Why do you need email etiquette?
A company needs to implement etiquette rules for the following three reasons:
Professionalism: by using proper email language your company will convey a professional image.
Efficiency: emails that get to the point are much more effective than poorly worded emails.
Protection from liability: employee awareness of email risks will protect your company from costly law suits.
Be concise and to the point.
Do not make an e-mail longer than it needs to be. Remember that reading an e-mail is harder than reading printed communications and a long e-mail can be very discouraging to read.
Use proper spelling, grammar & punctuation.
This is not only important because improper spelling, grammar and punctuation give a bad impression of your company, it is also important for conveying the message properly. E-mails with no full stops or commas are difficult to read and can sometimes even change the meaning of the text. And, if your program has a spell checking option, why not use it?
Answer swiftly.
Customers send an e-mail because they wish to receive a quick response. If they did not want a quick response they would send a letter or a fax. Therefore, each e-mail should be replied to within at least 24 hours, and preferably within the same working day. If the email is complicated, just send an email back saying that you have received it and that you will get back to them. This will put the customer’s mind at rest and usually customers will then be very patient!
Do not overuse the high priority option.
We all know the story of the boy who cried wolf. If you overuse the high priority option, it will lose its function when you really need it. Moreover, even if a mail has high priority, your message will come across as slightly aggressive if you flag it as ‘high priority’.
Do not write in CAPITALS.
IF YOU WRITE IN CAPITALS IT SEEMS AS IF YOU ARE SHOUTING. This can be highly annoying and might trigger an unwanted response in the form of a flame mail. Therefore, try not to send any email text in capitals.

I love email and can’t imagine working without it. I am always conscience about what I am writing, double checking my punctuation, and making sure that I am using proper grammar. I always remind myself that what I am writing is a reflection of my professionalism and my personality. I care a lot about how I come across to the people I am sending email to, no matter who the audience is!

I wanted to share this information I found on the web site www.emailreplies.com.

Why do you need email etiquette?

A company needs to implement etiquette rules for the following three reasons:

  1. Professionalism: by using proper email language your company will convey a professional image.

  2. Efficiency: emails that get to the point are much more effective than poorly worded emails.

  3. Protection from liability: employee awareness of email risks will protect your company from costly law suits.

Be concise and to the point.

Do not make an e-mail longer than it needs to be. Remember that reading an e-mail is harder than reading printed communications and a long e-mail can be very discouraging to read.

Use proper spelling, grammar & punctuation.

This is not only important because improper spelling, grammar and punctuation give a bad impression of your company, it is also important for conveying the message properly. E-mails with no full stops or commas are difficult to read and can sometimes even change the meaning of the text. And, if your program has a spell checking option, why not use it?

Answer swiftly.

Customers send an e-mail because they wish to receive a quick response. If they did not want a quick response they would send a letter or a fax. Therefore, each e-mail should be replied to within at least 24 hours, and preferably within the same working day. If the email is complicated, just send an email back saying that you have received it and that you will get back to them. This will put the customer’s mind at rest and usually customers will then be very patient!

Do not overuse the high priority option.

We all know the story of the boy who cried wolf. If you overuse the high priority option, it will lose its function when you really need it. Moreover, even if a mail has high priority, your message will come across as slightly aggressive if you flag it as ‘high priority’.

Do not write in CAPITALS.

IF YOU WRITE IN CAPITALS IT SEEMS AS IF YOU ARE SHOUTING. This can be highly annoying and might trigger an unwanted response in the form of a flame mail. Therefore, try not to send any email text in capitals.

Posted in Alanea, Consumers, For Lenders, For Realtors | 2 Comments »

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