With every challenge there is an opportunity. In 2010, there are opportunities for commercial brokers who are equipped to engage with REO assets. Consider the state of the market:

• The percentage of loans that are at least 30 days past due in the Commercial Mortgage-Backed Securities (CMBS) market rose higher than 6 percent for the first time ever at the end of 2009, according to mortgage research firm Trepp LLC.

• CMBS delinquencies have skyrocketed, posting a 502 percent jump over the 1.21 percent delinquency rate from just a year ago, Trepp reports.

That translates to an unpaid balance of CRE-backed bonds of $37.93 billion, according to investment rating agency Realpoint LLC. And that, in itself, is a 440 percent increase since November 2008. Continue reading ‘The Commercial REO Opportunity’

From Guest Contributors: Maps Coaching and Coach Beth Torrence. Beth put this post together from notes she gathered at this week’s Masterminds, a MAPS Coaching signature event, which was held in Austin, Texas.

It’s April 15 and home buyers have just 15 days left to get a home under contract to qualify for either the $8,000 or $6,500 Tax Credit.  So, what can you do today?

1. Contact FSBO’s and Expireds with an offer for a 15 day listing agreement. Let them know they’ve got 15 days to sell their house before the credit expires and many buyers are out of the market.
2. Have your sellers offer to double the tax credit if you purchase in the next 15 days. Seller can offer assistance with closing costs or a price reduction. Continue reading ‘15 Ways to Sell 15 Houses in the Next 15 Days’

One of the unfortunate downsides of the information age are less than desirable organizations that perform malicious acts and put your identity at risk.

Phishing scams are just that – illegal organizations “fishing” for personal information about you in order to commit identity theft. A fraudulent, yet very official looking, email is sent requesting the recipient to verify some bit of information about themselves.  This information can be banking account numbers, social security numbers or username/passwords. If collected, this information, is then used for identity theft by compromising your account.

It is important to always remember to treat any username and password as personal information that could be used to commit identity theft, including your email username and passwords!

A few typical indicators the email you received is NOT legitimate: Continue reading ‘Phishing–Are You Being Baited?’

A good friend recently observed that “the hardest job in the world is being a successful solo agent.” He’s right. When your business kicks into gear and your opportunities to do business with buyers and sellers outstrip your ability to convert and service them, your life will get out of balance. You will feel the burn just as you feel the accomplishment of jumping to a greater level of success. That’s why we say that when you’re doing all you can, get help. And the first help you hire is always on the administrative side—an assistant executive.

The key is to hire talent, such that your executive assistant has the ability and desire to develop into an assistant executive, a larger role in your organization which paves the way for even more growth in your business.

Here’s a video of my coauthor, Jay Papasan, and I discussing the do’s and don’t’s of hiring your first assistant. Let us know what you think!