Browsing: national association of realtors

Flipping Houses & Rehabbing
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appraiser HVCCAfter the financial meltdown last year lawmakers and regulators were determined to discover who was responsible for the debacle. Yes, the very people who drafted the laws governing mortgages and yes were also responsible for oversight of them went out to determine who was responsible for the melt down. The first culprit, of course, was the lenders. I think we all know how that played out. The next group on the chopping block was the appraisers. If they wouldn’t have appraised the homes then the lenders would not have lent on them, so goes the finger pointing. From that came sordid tales of realtors and mortgage professionals pressuring and even bribing appraisers to up the value of a property.

Home Valuation Code of Conduct – HVCC

After the scapegoats were identified the legislation followed. One prime piece of legislation aimed at appraisers was the Home Valuation Code of Conduct (PDF). The intent of the HVCC was to achieve more appraiser independence to reduce the amount of pressure placed on appraisers by lenders and Realtors. Well, if their had once been undue pressure on appraisers to inflate values it now pails in comparison to looming threat hanging over appraisers and it’s compelling them to keep prices down.

Real Estate Investing Basics
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It is no secret that real estate agents, as a profession, have had a tough time of it over the last several years.  The recent real estate bubble created a feast or famine situation and many agents have not survived the famine.  Meanwhile, over the last 5 years, I have sold over 500 single family homes, condos, or lots to my clients…including closing on 30 deals last month alone.  This volume places me in the top 5% of all Realtors in the country (in both transactions and commissions.)  I am not telling you this in order to boast or brag about my sales (as I know other realtors who have done far more business than I have) but merely to propose that my success has not been due to luck but rather due to a particular mindset that has worked very well for me over the last several years.

The Realtor’s Success Mindset

This mindset has entailed thinking as an investor instead of as a Realtor.  I have never really considered myself a Realtor, in fact, but rather an investor who helps other investors.  It doesn’t hurt that I own 20 investment properties of my own and have a lot of experience in searching for and closing my own purchases.  But this is not a prerequisite to thinking like an investor.  In order to position yourself as an  investor Realtor you don’t have to own a lot of properties yourself, but you do have to develop a reputation with your clients for being more interested in their bottom line than you are in your commission.  I have been able to do this, and in so doing grow a large investor database by using the following strategies that I would like to share with you: