WHAT IS THE DIFFERENCE BETWEEN A SURVEY, INSPECTION AND APPRAISAL????
Webster defines them as follows:
Survey: to determine and delineate the form, extent, and position of (as a tract of land) by taking linear
and angular measurements and by applying the principles of geometry and trigonometry.
The survey is usually ordered for a buyer or seller by the lender or Title Company. The survey is always done by an engineer. The property owner can order a survey at any time.
Inspection: a checking or testing of an individual against established standards.
Inspections can be ordered for both parties. The seller orders an inspection, on the advice of the listing agent, when repairs are questionable. The buyer orders the inspection during the Option Period.
Appraisal: an act or instance of appraising; especially a valuation of property by the estimate of an authorized person.
In a real estate transaction the appraisal will be ordered by the LENDER. However, anyone can order an appraisal in order to establish a value of Real Estate. Real Estate Appraisers are licensed by the state where they work.
Thank you for letting me be of service.
Always yours
Joseph
The Real Estate Coach
Sunday, September 19, 2010
Sunday, September 12, 2010
Are you the sharpest knife in the drawer??
Are you the sharpest knife in the drawer? Is your picnic basket short a few sandwiches? Does your elevator not go all the way to the top?
Is this the way people talk about you? Are they having another conversation with you? The perception of the public about the Real Estate industry is shifting in the shifting market place. Thanks to Google, The Internet, Facebook, Twitter, BLOGS and so much more we are dealing with a very different customer/ client.
The client of today is more involved in the home search than ever before. They have access to more information and will look forward to your assistance in making the right choice. Today’s consumer will need you more that ever when it comes to buying, selling or investing in Real Estate. However, are you ready to take the baton, run the race and bring the team to the finish line?
Today more that ever buyers and sellers need licensed Real Estate Professionals. You need to discover how to make that happen in your world of Real Estate. How do I know everything for everybody? Well you cannot know everything about everything. You cannot be all thing to all people. Trust me I have spent many years of my life trying to be all things to all people. You will only set yourself up for major disappointments.
You can however be a professional. You can acknowledge that you do not know the answer to that great question and you will get right back to client with the right answer. Not the answer you think they want to hear. So you still want to know how you are going to be an area specialist in today’s real estate market.
The BASICS
Explain Agency
Start that conversation by understand the Information About Broker Services, TAR 2501. “ I AM REQUIRED BY LAW, AS A LICENSED REAL ESTATE PROFESSIONAL, IN THE STATE OF TEXAS TO GO OVER THIS FORM WITH YOU “. How you present this information is going to set the tone for this transaction. When you explain Agency properly it will naturally take you to next step in your paperwork. Remember the key thing is before any substantial conversations about Real Estate you always review the IABS with your potential client.
Know your NUMBERS and know your NEIGHBORHOODS
Learn how to use the tools provided to you by your local Real Estate Board or your company website. If you step outside your local board for numbers make sure you are confident about the numbers you use. Some sources in fine print will disclose the Percentage of their accuracy. Then there is the Taxing Authority. Buyers love it and sellers disagree with it. One thing we can agree on is that Buyers want to buy low and sellers want to sell high. So get out and learn your neighborhoods and know your numbers.
STOP LISTENING TO ALL THE NEGATIVE PRESS
Remember we are a part of the global economy. This was not possible in the 80s. When you listen to a sound bite on your local or national news station remember thing are not painted with one colour. You need to be aware of the Global, National, State, Regional, County and City economy. Once you are award of the city economy then you need to be aware of the different markets within the city and surrounding areas. All I am saying is if you live in Houston do not talk about how things are in Florida or Utah.
GOOGLE SEARCH
Need I say more? IF you do not rely on this tool daily do not bother to renew your license. Where do you think your future or existing clients are going to learn more about Real Estate than you?????
Until next time,
Remember Real Estate is a simple business. We have to go and make it difficult.
Thank you for letting me be of service.
Warm regards
Joseph
The Real Estate Coach
Is this the way people talk about you? Are they having another conversation with you? The perception of the public about the Real Estate industry is shifting in the shifting market place. Thanks to Google, The Internet, Facebook, Twitter, BLOGS and so much more we are dealing with a very different customer/ client.
The client of today is more involved in the home search than ever before. They have access to more information and will look forward to your assistance in making the right choice. Today’s consumer will need you more that ever when it comes to buying, selling or investing in Real Estate. However, are you ready to take the baton, run the race and bring the team to the finish line?
Today more that ever buyers and sellers need licensed Real Estate Professionals. You need to discover how to make that happen in your world of Real Estate. How do I know everything for everybody? Well you cannot know everything about everything. You cannot be all thing to all people. Trust me I have spent many years of my life trying to be all things to all people. You will only set yourself up for major disappointments.
You can however be a professional. You can acknowledge that you do not know the answer to that great question and you will get right back to client with the right answer. Not the answer you think they want to hear. So you still want to know how you are going to be an area specialist in today’s real estate market.
The BASICS
Explain Agency
Start that conversation by understand the Information About Broker Services, TAR 2501. “ I AM REQUIRED BY LAW, AS A LICENSED REAL ESTATE PROFESSIONAL, IN THE STATE OF TEXAS TO GO OVER THIS FORM WITH YOU “. How you present this information is going to set the tone for this transaction. When you explain Agency properly it will naturally take you to next step in your paperwork. Remember the key thing is before any substantial conversations about Real Estate you always review the IABS with your potential client.
Know your NUMBERS and know your NEIGHBORHOODS
Learn how to use the tools provided to you by your local Real Estate Board or your company website. If you step outside your local board for numbers make sure you are confident about the numbers you use. Some sources in fine print will disclose the Percentage of their accuracy. Then there is the Taxing Authority. Buyers love it and sellers disagree with it. One thing we can agree on is that Buyers want to buy low and sellers want to sell high. So get out and learn your neighborhoods and know your numbers.
STOP LISTENING TO ALL THE NEGATIVE PRESS
Remember we are a part of the global economy. This was not possible in the 80s. When you listen to a sound bite on your local or national news station remember thing are not painted with one colour. You need to be aware of the Global, National, State, Regional, County and City economy. Once you are award of the city economy then you need to be aware of the different markets within the city and surrounding areas. All I am saying is if you live in Houston do not talk about how things are in Florida or Utah.
GOOGLE SEARCH
Need I say more? IF you do not rely on this tool daily do not bother to renew your license. Where do you think your future or existing clients are going to learn more about Real Estate than you?????
Until next time,
Remember Real Estate is a simple business. We have to go and make it difficult.
Thank you for letting me be of service.
Warm regards
Joseph
The Real Estate Coach
Saturday, September 4, 2010
Reflections on Labor Day
Reflection on Labor Day
The first Labor Day in the United States was celebrated in 1882 in New York City. The official holiday was the results of President Grover Cleveland's need to be reelected. Cleveland sent 12,000 U. S. Troops and U. S. Marshals to shut down the Pullman Strike in Illinois, which he declared a Federal Crime. Six days after the strike was broken both houses of Congress passed the bill to make this a National Holiday.
Let us take a look at the Holiday people gave their lives for. It has been reduced to celebrating the end of Summer, the beginning of the NFL and college football season and let us not forget all those pairs of white pumps retired for the Fall and Winter.
THE HONEST TRUTH is while it appears that things have changed they really are the same. Will you please take our government? I have a saying "I can put a curly tail on a horse but it does not make it a pig". Only in Hollywood on film or the stages of New York City does that happen. Sitting in the dark we can escape from our dull everyday existence. We get lost and imagine a utopian life style. Like the one George Pullman created for his workers in Pullman Illinois. He built a town. He hired workers. He built homes. He owned the bank. He owned the general store. I guess you say could say he owned the people that lived, worshiped and raised families. I wonder if he actually owned the church that delivered THE WORD and whose word was it?
What questions should we ask to interrogate reality on this Labor Day. Most people get into the Real Estate game looking for the perfect utopian life style. Work a few hours a day, drive a nice car and spend hours at happy hours networking with fellow business associates. We ask for and expect to get everything for nothing. We expect our brokers to hand us business. We will get that perfect phone call for a million dollar sale after only two days in the business. Oh and do not forget, wipe my bottom if I soil myself when something goes wrong.
It is probably a good thing that we do not live or work in a utopian culture when it comes to owning a Real Estate Business. You cannot. Just like we are expecting the government to come and bail us out of the mess we are in now. However, there are no shortcuts when it comes to hard work. Are you ready, willing and able to suit up and show up for the game? I will assert some people put more energy into getting ready for the super bowl party that they do for their career.
What are the basic tools you can use to jump start your career?
Have the mindset that this is a real business with real hours and responsibilities.
Show up daily ready to lead generate.
Reach out a touch at least 5-10 people, a day, that what to buy or sell Real Estate .
Have meaningful conversations and always question reality.
Have clear goal.
Know your scripts.
Know your neighborhoods.
Be coachable to being accountable.
Take time to stop and reflect on your labors from this moment forward. How do you want to shift your thinking? Who do you want to be when your season has ended. Will you leave a legacy of a life lived well.
Thank you for letting me be of service.
Always yours
Joseph
The Real Estate Coach
The first Labor Day in the United States was celebrated in 1882 in New York City. The official holiday was the results of President Grover Cleveland's need to be reelected. Cleveland sent 12,000 U. S. Troops and U. S. Marshals to shut down the Pullman Strike in Illinois, which he declared a Federal Crime. Six days after the strike was broken both houses of Congress passed the bill to make this a National Holiday.
Let us take a look at the Holiday people gave their lives for. It has been reduced to celebrating the end of Summer, the beginning of the NFL and college football season and let us not forget all those pairs of white pumps retired for the Fall and Winter.
THE HONEST TRUTH is while it appears that things have changed they really are the same. Will you please take our government? I have a saying "I can put a curly tail on a horse but it does not make it a pig". Only in Hollywood on film or the stages of New York City does that happen. Sitting in the dark we can escape from our dull everyday existence. We get lost and imagine a utopian life style. Like the one George Pullman created for his workers in Pullman Illinois. He built a town. He hired workers. He built homes. He owned the bank. He owned the general store. I guess you say could say he owned the people that lived, worshiped and raised families. I wonder if he actually owned the church that delivered THE WORD and whose word was it?
What questions should we ask to interrogate reality on this Labor Day. Most people get into the Real Estate game looking for the perfect utopian life style. Work a few hours a day, drive a nice car and spend hours at happy hours networking with fellow business associates. We ask for and expect to get everything for nothing. We expect our brokers to hand us business. We will get that perfect phone call for a million dollar sale after only two days in the business. Oh and do not forget, wipe my bottom if I soil myself when something goes wrong.
It is probably a good thing that we do not live or work in a utopian culture when it comes to owning a Real Estate Business. You cannot. Just like we are expecting the government to come and bail us out of the mess we are in now. However, there are no shortcuts when it comes to hard work. Are you ready, willing and able to suit up and show up for the game? I will assert some people put more energy into getting ready for the super bowl party that they do for their career.
What are the basic tools you can use to jump start your career?
Have the mindset that this is a real business with real hours and responsibilities.
Show up daily ready to lead generate.
Reach out a touch at least 5-10 people, a day, that what to buy or sell Real Estate .
Have meaningful conversations and always question reality.
Have clear goal.
Know your scripts.
Know your neighborhoods.
Be coachable to being accountable.
Take time to stop and reflect on your labors from this moment forward. How do you want to shift your thinking? Who do you want to be when your season has ended. Will you leave a legacy of a life lived well.
Thank you for letting me be of service.
Always yours
Joseph
The Real Estate Coach
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