This is NOT a “one-size-fits-all” approach to short sales, that would be impossible given the differences in consumers’ personal circumstances. What this advisory does is give the consumer a place to start so that they have access to a number of resources to help them make a personal decision that is right for them and their family.
So, given the importance of this document and the prevalence of short sales in our market area, how do you present it to your clients? Let’s discuss some “talking points” that you can adapt to help you deliver this valuable advisory:
“There is so much information out there that is incorrect, irrelevant and just plain wrong, that I wanted to give you this advisory just released by the Arizona Association of REALTORS® and the Arizona Department of Real Estate. I think with a little research through the website links it provides, you’ll be able to determine for yourself the affects of a short sale for your personal situation.
You can find the Advisory here (http://www.aaronline.com/documents/ssseller_advisory.pdf).”
“As you know I am NOT a lawyer or a CPA but it occurred to me that I can provide you with this advisory, just released by the Arizona Department of Real Estate and the Arizona Association of REALTORS®. While it may not answer all your questions, it is an excellent place to start researching your individual situation.
You can find the Advisory here (http://www.aaronline.com/documents/ssseller_advisory.pdf).”
“I was so thrilled to receive this advisory provided by the Arizona Department of Real Estate and by the Arizona Association of REALTORS® that I had to share it with you. Please take a few minutes to review this information to see what applies to your individual situation. It is a great tool in researching your family’s needs.
You can find the Advisory here (http://www.aaronline.com/documents/ssseller_advisory.pdf).”
“I am sure as soon as you mention ‘Short Sale’ to anyone there will be more advice than you can absorb. I finally received an advisory to help you research your individual circumstances. This document gives you a great place to research whatever your individual needs may be.
You can find the Advisory here (http://www.aaronline.com/documents/ssseller_advisory.pdf).”
We know you’d never want to “accidentally” practice law or give tax or legal advice. This advisory helps you avoid just that problem while providing your clients with a solid place to start in researching their own wants and needs. Now you don’t have to be afraid of giving misleading advice to the detriment of your clients. This advisory should be used in all short sales transactions for the benefit of the seller, your client.
I heard someone say the other day that we live in a very transparent society. That is so true. So much information is available on almost anything a person could want with merely a click or two using digital technology. It’s crucial as a real estate agent that we understand the significance of this.
Evo Terra’s session, “Digitally Expose Yourself” was a wake-up call for me. He explains where most people today are “NOT” getting information and where they are. He talks about email addresses and being socially connected. I found so much valuable information in this one that I hope you’ll listen to it. It could change the way you do your business and be the wake-up call you’ve needed too.
Have you seen the blinking Flexmls Update Notice on the dashboard this week?
It’s there informing us change is ahead. Here’s a less than 5 minute video showing you the new dashboard that is scheduled to go live next week. If you can’t tell by the video, I like.
Local real estate broker, Jim Sexton, spoke at the Scottsdale Luxury Home Tour yesterday. He shared a plethora of statistics with the group, focused on luxury homes over a million dollars. Here are some of the numbers he presented.
A big concern in today’s market is how we handle advice and suggestions to our seller when they have to sell their house but it is worth less than they owe on it.
Often we are asked to explain foreclosure/REO transactions. We are asked if a short sale is what they should do. Our clients want to know which method of selling their property is best for them.
At our annual Kick-Off event, Rick Mack, a prominent real estate attorney here in Arizona, addressed some of these concerns. He said our clients need good advice, and have a right to expect us to advise them. The problems arise when we go beyond our level of expertise and legal capabilities. He told us then that the Arizona Association of REALTORS®, through their legal counsel Michelle Lind, was working with the Department of Real Estate Short Sale Committee to develop the “Short Sale Seller Advisory” which would be available soon.
it gives directions to information for websites and telephone contacts for legal advice, tax advice and helpline services that are available,
it discusses options other than short sales including but not limited to Loan Modifications, Deed-In-Lieu of Foreclosures, Foreclosures, Bankruptcy………….
A REALTOR® with John Hall & Associates recently told me he attended a real estate technology class / sales pitch. The product they were selling put his real estate listings on his facebook profile. He declined to purchase, but liked the idea. I asked if he had looked into the REALTOR.com facebook app that displays listings on REALTORS’® facebook profiles for free. He hadn’t heard of it. So we checked it out together.
This section was added after publishing because I need to address the debate of whether real estate listings in facebook are good or bad. My answer to this debate is – it depends.
When:
Thursday, February 4, 2010
8:00 a.m. – Networking & Continental Breakfast
8:30 a.m. – Meeting with Featured Speakers
9:45 a.m. – Home Tour
Lunch & Wrap-Up Discussion at last home on tour
Where:
Starfire Golf Club
11500 North Hayden Road
Who’s speaking: Jim Sexton, Owner & Designated Broker
John Hall & Associates
Sandra Wilken, President & Designated Broker
Sandra Wilken Luxury Properties
Peggy Rauch, Broker
The Peggy Rauch Group
Who can attend:
If you know anyone who would benefit from this valuable meeting or home tour, please help spread the word. REALTORS® and SAAR Affiliate members are welcome to attend.
How much:
$9.00 Admission Charge – No Pre-Registration Required
The Arizona Association of REALTORS® released 5 new forms this February first. They are now available in the AAR ZipForm Library – ready for you to use.
They new forms are:
Commercial Buyer’s Inspection Notice and Seller’s Response
Short Sale Addendum to the Commercial Purchase Contract
Short Sale Addendum to the Commercial Listing Contract
We have been fortunate enough to have had Dave Beson here in Arizona to do our annual John Hall & Associates Kick-Off in the past. He was good then, and he is still good now.
At the risk of offending some he tells it like it is. As an example, his observation was that people who weren’t selling in a good market aren’t selling now. He added that the things he shared with agents during the good and strong market are the same things he needs to teach them in this market. It is the basics that always work. We need to prospect, present and close to succeed and earn a good living.
We need to be able to stand up to the seller. We need to tell them what they need to know. We need to be prepared for objections on our compensation. We need to know how to keep a positive mind in a negative market.
One statement he made really hit home with me. He said, “instead of being a wandering generality, we need to become a meaningful specific”. Re-read that because that is a powerful statement.
I would encourage you to listen to this tape. There is a commercial to sell his product, but he also gives you a number of scripts and activities that will make this very worthwhile listening. He will give you ideas from real super stars that you can work with, to a letter system for developing business and staying in touch with your client base or spheres of influence.
The new “Short Sale Seller Advisory”, co-authored by the Arizona Association of REALTORS® and the Arizona Department of Real Estate, really manages to keep its finger on the pulse of the real estate industry in Arizona. Given the number of rumors and innuendo about short sales and their affect on consumers, it was definitely time to set the record straight.
Posted by Diane Flannigan 
Just in case you are tired of copying and pasting this symbol every time you need it…
Have you seen the blinking Flexmls Update Notice on the dashboard this week?
A big concern in today’s market is how we handle advice and suggestions to our seller when they have to sell their house but it is worth less than they owe on it.
