What is Real Estate

Writen by Paul Hansen

Trump Towers have been known as the pinnacle of luxury condo living, but now the Trump name has come into the Miami condo market. The first Trump Tower condo to be complete will be the Trump Palace located in Sunny Isles directly on the ocean.

The Trump Palace is a 55 story condominium tower that offers both ocean and intracoastal views and is set to start closings in the beginning of 2006. The Trump Palace condos have units that range in size from 1200 to well over 3000 square feet, and prices range from $600,000's to over $2.5 million. The Trump Palace will have the highest level of amenities for its residents to enjoy along with a convenient location in the heart of Sunny Isles.

The Trump Royale is the sister building of the Trump Palace and will also rise 55 floors with similar pricing, floor plans and amenities. The Palace and Royale will be angled to offer unobstructed ocean and intracoastal views in each building. The Trump Royale, which has already started construction, is set to be complete by the end of 2007. The Trump Royale condo is the final piece to complete the Trump Grande Ocean Resort and Residences in Sunny Isles, Florida.

Trump Towers I, II and III will also rise in Sunny Isles. These three Trump Towers will all be the height of 45 floors with 271 condos in each building. The Trump Tower condos will range in size from 1469 to 2928 square feet with two and three bedrooms. The condos of Trump Towers in Sunny Isles will offer every view, from ocean to intracoastal, bay and city. All three of the Trump Towers will feature Italian cabinets with granite or marble counter tops in the kitchens and bathrooms, Miele and Subzero appliances, floor to ceiling glass and designer fixtures through out the condos.

The amenities of the Trump Towers will include 250 linear feet of ocean frontage, beautifully appointed three story lobby, 24 hour concierge and valet, state of the art fitness center and health spa as well as beach front cabanas. Trump Towers in Sunny Isles have experienced phenomenal sales, and resales should be starting very soon.

Just a little north of these Trump projects is the new and exciting Trump Hollywood project. The Trump Hollywood is the newest and most luxurious of all the Trump projects. The finishes and views will be second to none, with one of the last locations on the beach that still has much room for appreciation.

The Trump Hollywood condo tower will be 40 floors with a modern glass design that will make it a landmark on Hollywood Beach for many years to come. The Trump Hollywood will offer 200 units that range in size from 2070 to 4350 square feet with pricing expected to start at about $1.5 million and up. The Trump Hollywood is now taking reservations and expects to be going to contract within the next few months.

There is no doubt that all of the Trump Towers will offer the finest in luxury oceanfront condo living. The hard part is deciding which Trump Tower to choose. Each of the Trump projects has its own unique design and style to suit every desire.

With over 14 years experience between the two, Paul and Carole have the knowledge and experience to help with all of your Miami real estate needs. Carole is a native of Miami Beach and Paul has made Miami home for the last 15 years. They have both seen and experienced the dramatic changes that have taken place in the Miami real estate market over the last several years. This knowledge of the real estate market makes them the perfect choice whether you are looking for a primary residence, second home, investment property or pre construction opportunities. With millions of dollars of closed transactions, they have the experience to avoid the pitfalls of buying and selling real estate.

For expert information visit http://www.hansenhomesaventura.com or call 786-586-4778

Writen by Rhiannon Williamson

Shopping for property in Belize is not as simple an undertaking as you might initially expect!

Firstly, real estate agents as we know them are non existent! Real estate brokers that do exist are likely to be unlicensed, unregulated and certainly not trained or insured.

Secondly, the majority (and I mean the majority) of property for sale is not advertised!

But with property prices remaining affordable, the quality of property available attractive, the climate beautiful, the people welcoming, the quality of life incredible and the opportunities in Belize plentiful, more and more people need to know HOW they can go about procuring themselves their dream home in Belize.

This article should cover the tips, tricks and important points for your consideration, and go some way to helping you locate and purchase your ideal piece of Belizean real estate!

Part One: House Hunting.

As mentioned, many properties that are for sale often go totally unadvertised.

Sure, there are the occasional adverts in the San Pedro Sun or in the Belize City newspapers and some estate agents exist who keep up to date listings - either available upon request of via their internet sites – but seriously, the majority of properties that are for sale are not advertised – and I'm talking at least three quarters.

The only way to find out what's really available is to travel to Belize and spend time there among the local people and the expats.

You see, properties that are for sale are generally put up by their owners and they often choose to skip the middle man – the real estate broker. Therefore, with no brokers and no signs, the only way you'll learn about what's on the market is to get to know the local people and expats in the particular areas that you're interested in, and via word of mouth you'll begin to hear about what's really available.

As soon as word gets out that you're in the market, chances are you'll be inundated and have more properties and deals to choose from that you can cope with! Be prepared and don't agree to the very first opportunity presented to you!

Part Two: Real Estate Brokers.

Because anyone in Belize can be a real estate broker the quality you come across will vary immensely!

So please be careful - to become an estate agent there is no license needed, no insurance necessary, no experience or training required: therefore what you will find on the whole are expats, hoteliers, shop owners and taxi drivers as estate agents on the side.

Yes there ARE some professional agents who are honest and knowledgeable and whose agency businesses are legitimate, but there are also those out to make a quick killing selling anything and everything to unsuspecting tourists.

Listen to the experiences of others and if someone is recommended to you by a trusted adviser then all the better.

If you do purchase via an agent, commissions in Belize are typically 7% on residential property, and about 10% on land deals – chargeable to the vendor: and in some cases you as the purchaser may be charged for viewing property if it is remote and requires travel expense outlay. Make sure you're aware of any such charges that you may be liable for from the outset.

Part Three: Property Prices.

Despite a steady 20 year appreciation in real estate prices in Belize, property remains attractively priced – especially when comparing prices for similar real estate on sale in America or Western Europe.

There are still bargains plentifully available in this beautiful Central American country. But it isn't so much what you know as who you know when it comes to getting the best deal for your money.

There is a commonly held sentiment among the expat community in Belize – something along the lines of "the second house you buy or rent is twice as large as the first and costs half as much" – so don't part with any money until you are totally sure you know what you're doing!

Be prepared to spend time in Belize and be prepared to invest time in getting to know and making friends with the local people, any influential lawyers and business people and also the local expat community. It is through these people that you will find the best real estate at the best prices.

Another point worth considering is that Belize is a country where there are two prices – the local price and the foreigner price. Yes, from an expat's point of view this is unfair. But from a local's point of view the 'rich' foreigner who gets paid far more for his work in his country than a Belizean in Belize for the same work can simply afford to pay the higher price.

A way around this is to ask a Belizean friend to ask the price and do negotiating for you! Simple!

And yes, negotiation is key - property prices vary massively from region to region and city to city and vendor to vendor. There isn't really a set valuation structure on which someone can base the price of a property or piece of land.

This means that it is hard to say exactly how much real estate is worth and how much property prices have actually risen over the last few years. It is harder still to say what a property investor in Belize could expect year on year in terms of the appreciation of any real estate asset. So much so that the saying "you almost always make your money when you buy, not when you sell" goes doubly in Belize.

As a very general guide to property prices they are highest in Belize City, on Ambergris Caye and in Placencia, and lowest in the remotest most rural areas.

House prices go from USD 15,000 for a basic traditional home in a small undeveloped village to USD 500,000 and upwards for luxury beach front villas in San Pedro say.

Any agent or vendor you speak to is likely to talk up the potential returns on an investment in property or land in Belize – this is only natural! But what you need to consider is that: -

a) the economy of this country is linked to the US economy and b) the time it takes to sell a property in Belize can be very long and drawn out (I'm talking years not weeks or months) – which is something you must bear in mind when considering purchasing a property you may one day want/need to re-sell

This shouldn't necessarily put you off – after all you can still buy far more for your dollar in Belize than you can in the US, UK, Mediterranean region or Western Europe – but it is important to have a realistic overview of the property market in any country you are considering investing in or relocating to. That way you enter with your eyes wide open…it's always better to be a savvy buyer!

Part Four: Foreign Ownership.

The Belize authorities are open to foreign investment and actually welcome it which means they impose very few restrictions when it comes to foreign ownership of immovable property in their country.

In Belize it is even possible for non-nationals to freely purchase prime beachfront property. There used to be a license requirement for a foreigner to buy land over 10 acres or 1/2 an acre in a major town or city but this requirement has been revoked.

The only rules and restrictions are: -

Foreign purchase of any island has to have Government approval via the Ministry of Natural Resources.

In certain protected coastal and caye areas purchase of land and property by non-locals has to be approved by the local village council.

Part Five: Legal and Financial Considerations.

I always suggest people seek qualified legal advice when it comes to such a large and far reaching undertaking as purchasing real estate!

Belize is no exception!

In fact, in Belize lawyers are usually considered to be trusted, well-connected, pillars of the community with real power! And their fees are usually in the region of 2 percent of the purchase price…this should cover title searches and the drawing up of transfer documents.

In terms of affording your real estate dream – the onus is going to be on you! It is extremely difficult for non-residents to get mortgages from banks in Belize therefore most purchasers are in the position to pay in cash for their purchase or they have finance from a non-Belizean financial source.

However, some new developments are springing up with mortgages attached by the developer – property developers are usually the first to be aware of a potentially untapped market.

Basically terms currently are available to purchasers of such properties are: - The developer retains the title to the property until the purchaser has paid in full for the property. The purchaser makes a 10% down payment with the remainder being paid back over 10 years at 10% simple interest per annum. Terms will of course vary from this to say 50% down up front and the remainder payable over three to five years at 12 -15% interest.

Be aware however that the best prices will be for cash deals.

You'll need to factor in an additional 12 – 15% on top of the purchase price for fees and costs.

You have the land title transfer fee which is also known as "stamp tax." This is 5% compulsory for every purchaser regardless of nationality, with an extra 5% payable by non Belizean nationals – making 10% in total.

This is apparently being increased to 12% in the near future.

If you have become a Belizean resident via the Qualified Retired Persons Incentive Program you are exempt from the second 5% stamp tax for non-citizens.

Then you should have your lawyer's fee which will be around 2% of the purchase price.

Finally you'll have property taxes which actually vary from area to area based on the type of land or property purchased. Generally expect to have to pay around 1% annually of the value of the undeveloped land…but speak to your lawyer for more exact figures pertinent to the property or land you are interested in purchasing.

Rhiannon Williamson is the publisher of http://www.shelteroffshore.com/ - the online resource that guides you to a low tax, dream overseas lifestyle!

Shelter Offshore features three main channels - offshore investment, property investment abroad and overseas lifestyle.

Rhiannon Williamson is also the author of 'The Offshore Advantage' http://www.shelteroffshore.com/index.php/shelter/offshore_advantage/ which teaches readers how to build secure wealth using their secret offshore advantage.

Writen by Jeanette Joy Fisher

It's not easy for most people to do, but the moment you decide to sell your home, it becomes something else -- it becomes a product, to be sold like any other product. It can be a sobering thought, but it's a necessary mental step to take if you're going to sell your home quickly, and for as much money as possible.

The first step in that process is to look at your home with a new set of eyes: the eyes of a buyer. They don't have the emotional attachment to all of your knickknacks and family photos that you do. To them, a shelf filled with various trinkets and souvenirs is merely a collection of clutter; something that prevents them from seeing the real house underneath all your stuff.

In order to attract a buyer in today's marketplace, you'll need to increase its attractiveness as a product. That can involve adding a new coat of paint, getting rid of excess furniture and other clutter, and clearing the kitchen countertops of a variety of items that aren't used on a day-to-day basis.

You don't have to do any expensive remodeling. You simply have to show off your home to its best advantage. After all, it needs to look good on the shelf, to attract a buyer's attention, then it needs to interest them enough to take a closer look, and finally, it has to fill their needs to the point where they want to purchase your product.

Of course, price is important to homebuyers, just as it is to anyone who is looking to make any major purchase in their lives. But buyers can generally find several houses that are similarly priced, so your product must have an advantage over the competition if you're to get a sale. And that begins with market research.

You can do your research by simply walking around and through your house, looking at it as if you were a buyer, seeing it for the first time. You may be surprised at what you discover, but it's a necessary process, and shouldn't be overlooked. Often a few minor repairs and touch-ups can make a huge difference--both in time of sale and in the price paid by the buyer.

Make your home as warm and inviting as possible, because more than most major purchases, people buy homes according to their emotions. That process begins by making your home feel homey without feeling cluttered. It's a fine line, but important to your overall success. If you have a wall filled with family photos, take them down. They may be your ancestors, but to buyers, they represent clutter. Whenever you can't decide whether something should stay out or not, it's best to take it out of a room. Buyers can imagine their own furnishing in rooms that aren't filled to the brim with your stuff.

So, in order to sell your home faster and for a higher price, start thinking of it as a product you want to sell to a willing buyer. It will help your get the home ready for sale, and it may even help you detach your emotions, making it easier to move once a sale has been made.

Copyright © 2006 Jeanette J. Fisher

Jeanette Fisher, interior design instructor, helps home sellers with color psychology advice to make their homes more saleable. Jeanette Fisher, author of interior design, real estate investing, and home staging books teaches home sellers five ways to get more money from their home sale. http://sellfast.info/home_selling_articles.htm Free home selling reports Sell Home Fast

Writen by Dr.Phil Speer

Real estate investing is pretty unusual in lots of ways. Real estate investing is creative. Real estate investing is risk-taking excitement. Real estate investing is diverse activity. Most of all, real estate investing is very profitable.

I'll never forget the words of one of my professors who said, "2% think, 8% think they think, and 90% would rather die than have a thought."

Boy, is that ever true!!!

According to surveys, 75% of the workforce hates what they do every day at their job. The survey was unneeded. Common sense and observation tells you that.

Why don't people love what they do every day?

They hate the commute. They hate the demanding routine. They hate being demeaned by their superiors. They hate some of the people around them. On and on it goes, but most of all, they hate their limited salary – payment per what the job pays rather than payment according to their personal contribution.

The locked-in salary cap is most despicable because it pays an employee what the job is worth and not what the person is worth. The color of your skin is not the problem. The fact you were born as a female is not the problem. Your lack of superlative educational degrees is not the problem. The problem is that a job pays what the job is worth and not what the employee is worth.

Entrepreneurism is not for everyone. It takes guts to "go out on your own." It takes guts to work on commission or for projected profit-per-job. It takes guts to live in the unknown. Some can't make the transition from salaried job to entrepreneur.

But think about it. The beauty of real estate investing is that you can do it on a shoestring budget, and you can do it part time until full-time is justified! Real estate investing is possible without cash reserves and without good credit. Real estate investing doesn't require a big bank account or an 800 FICO score on a credit report. Real estate investing can be initiated without ever walking into a bank to request a loan and without ever filling out a mortgage app.

When I started investing in real estate, I found it incredible that I could buy a $500,000 rental property with a $10 bill, and without a credit check or income verification! And that's exactly how I launched my real estate investing career 25 years ago. It's even easier today because credit is the easiest to obtain ever in history. Today, someone can be released from bankruptcy and even get 100% financing the next day! We are in an amazing period of opportunity for entering real estate investing.

True, you have to know what you're doing. But you can learn what to do. Know-how savvy in real estate investing can be learned like any other skill. And it doesn't require one of those complicated $3000 real estate investing seminars or costly $25,000 real estate investing coaches. Many of these "graduates" finish their education and don't know where to start! And real estate investing doesn't require full-time activity.

What it takes to transition from a job to a real estate investing career is "know-how savvy" and guts. After that, the sky's the limit.

You can investigate the possibility of "escaping the job" at Real estate investing is not in any list of high school electives. You can't get an accredited degree in real estate investing. You won't find a high school or college guidance counselor who recommends a career in real estate investing (if the guidance counselor understood real estate investing, he or she probably wouldn't be a guidance counselor!)

The public school system and educational curriculum in the U.S. is only a feeble attempt to prepare students to just "get a job." Unfortunately there is no class in "Making Money 101." You don't have the opportunity to take a class in "How to Become Financially Independent." No teacher ever taught a class in "How to Succeed When Everyone Else is Failing." I never learned anything about succeeding as an entrepreneur or becoming wealthy during my 10 years in the university classroom. I only became a multi-millionaire when I learned the skills of real estate investing, and I paid the price out-of-pocket and out-of-the-classroom for that education. I learned these skills in the ole University of Hard Knocks through trial-and-error.

Never disparage the cost of education. There ain't no free lunch. You've gotta get this know-how outside of a classroom, and learning how to make money is gonna cost you. But if you think the cost of education is expensive, you should calculate the cost of ignorance!

However, learning real estate investing doesn't have to cost you an arm and a leg. Yes, I know, the real estate investing TV infomercials and the real estate investing seminars held around the country charge big bucks for those 3-day seminars and week-long Boot Camps. But that's pocket change compared to the fees they want to collect from you later. Catch this fact: all the real estate investing infomercials and seminars target you as a candidate for "real estate investing coaching." That's where they charge you up to $25,000 and over $50,000 per year for "coaching." And often you are assigned to some kid "still wet behind the ears" to call you each week or month to hold your hand and whisper in your ear what common sense and a persistent drive should already tell you! I'm not exaggerating the real estate investing educational system, because I know it inside and out. I personally know many of the so-called "gurus." I've been close to it for 25 years. My opinion is that the fees charged are exorbitant because the promoters have found deep pockets in the marketplace.

When I started my real estate investing career 25 years ago, real estate investing TV infomercials were unknown and real estate investing seminars were extremely rare. Back then, Mark Haroldsen followed an emerging trend started by Al Lowry and Nick Nickerson by holding occasional real estate investing seminars across the country. Later Robert Allen expanded the industry. Robert Allen promoted real estate investing conventions in the major cities across the U.S. He found a market for costly real estate investing packages of information with cassette tapes and note books. TV infomercials, expensive seminars, and outlandish coaching fees followed in subsequent years. Would-be real estate investing aspirants today who want more than an inadequate salary from a job in Dullsville often conclude that they have to "pay through the nose" for real estate investing know-how.

However, through diligent searching, these wanna-bees often find that this education in real estate investing is more readily obtained from other sources than they previously imagined.

Real estate investing is probably one of the most easily learned skills never taught in school. Real estate investing is probably one of the most prolific careers available on Planet Earth. Because families now live in houses instead of caves, houses available for fix up are everywhere. And probably nothing contributes to upgrading the deplorable housing conditions across America comparable to real estate investing in fix up properties.

The entrepreneur-minded aspirant who discovers the real estate investing industry often catches a vision of life-beyond-a-job. Books and online courses offer an alternative to expensive seminars and coaching.

Some employees should hold on to their job because that's where they are best suited. But part-time real estate investing is an opportunity for anyone to check out personal congruity in the entrepreneurial world.

Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director. To learn how to profit in real estate investing, even without cash or credit, read his report at at http://www.CashinHouses.com/. Subscription is free to his Fix-up Ezine. He and other contributing authors provide free articles and resources on real estate investing at his online "Academy of Advanced Real Estate Investing Techniques" - http://www.AAREIT.com.

Writen by Jason Van Orden

When you call sellers, what do you say? When you sit down to write a marketing postcard to find deals, what do you write? When you go to negotiate price and terms, how do you present it?

These are scary situations and it is not unusual to be at a loss for words at such times. In fact, you may avoid these situations all together just so you don't have to face the overwhelming fear.

I want to help you erase that fear and find the words that will give you confidence to call sellers, write advertising, and present offers. The concept I am about to present is fundamental in developing a successful marketing message.

Have you ever read an ad like this?

"The Braun® Multiquick Hand Blender offers a 200-watt motor, stainless steel shaft, five-blade chopper attachment, and aerator head." (Karen Thackston 2004)

Why in the world would I buy the Braun® Multiquick Hand Blender after reading this description? Why should I care about a 200-watt motor or a stainless steel shaft? I am sure this is an accurate description of the product's features, but why do I care? What if it read like this?

"The Braun® Multiquick Hand Blender is a priceless tool for any cook with a busy schedule. Its powerful motor enables you to chop, whip, puree and blend with lightning speed. Its stainless steel shaft holds up to years of use without bending or breaking. The Multiquick's five-blade attachment gives you the ability to finely chop or grate even the hardest cheeses and nuts with ease. And the specially designed aerator head incorporates air into the liquids and sauces you blend, making them light and fluffy. You'll create delicious meals with ease and be out of the kitchen in record time." (Karen Thackston 2004)

OK. So if I want to blend at lightning speed and make my sauces light and fluffy or if I want to finely chop the hardest of nuts without breaking or bending my blender, then it sounds like this is the appliance for me.

What was different between these two descriptions? The first only listed features. The second communicated the benefits. The first is more about the product. The second is more about what is in it for me.

A feature is simply an attribute of a product or service. A benefit is what/how the feature adds value to the customer. Successful salesmanship communicates benefits.

Let me give you just a couple more examples.

"Open 24 Hours" is a feature.

A benefit that speaks value to your prospect is, "When your pregnant wife craves pickles and ice cream at 3 a.m., you know where to get it."

Here is a real estate example:

"We buy houses subject-to" is meaningless. Try this: "I can take over your payments starting next month and help you avoid paying two house payments when you move." That speaks to what the prospect wants & what keeps him up at night. Communicate your benefit in a way that brings emotion, fear and desire to the surface.

Now think about what you tell someone when they ask you what you do. Do you just say, "I buy houses"? Or do you say something like, "I buy houses in ten days or less without closing costs or cleanup for the seller."

Do you see the difference? I often say that you are not in the business of buying and selling houses. When it comes to your customers/clients, when it comes to marketing, when it comes to negotiating, you are in the business of stress relief and solving impossible problems. With that in mind, what are the specific benefits that you offer? Here are five types of benefits to consider:

1. Convenience: People love to save time, energy, and effort. Can you make someone's life easier and more convenient?

2. Economy: People respond well to saving money or increasing how much money they have. Show them the money.

3. Peace of Mind: We all have a tendency to seek pleasure and avoid pain. People like to relax. Can you relieve their stress?

4. Ego: Can you appeal to the human desire for recognition or better image?

5. Fun: People need a break. People like to form memories. People don't like to be bored or constantly work. Can you provide a diversion?

Think about each of these categories. What benefits can you offer a seller or buyer in each of these areas? Use meaningful specifics when you write benefits. Don't just say that you can buy their house fast. How fast? How much money can you get them?

To take it one step further, which of the benefits that you offer are unique to you? The key to cracking the marketing code and attracting volumes of leads and deals is to answer this:

"Why should your prospect do business with you over any and every other option available to him/her?"

If you have a good answer to this question, your business, marketing, and negotiation will become tons easier and you will increase the stream of money into your bank account significantly. This is the message that you must communicate.

The answer to this question lies in the benefits that you offer that are unique to you. This answer to this question is what is called a Unique Selling Proposition.

By better understanding and communicating the benefits that you offer, you will become a powerful salesperson. You will find that your marketing and negotiating become significantly easier bringing massive returns in your investing.

Jason Van Orden was the President of the Salt Lake Real Estate Investors Association in 2004. He also teaches investors marketing systems to find more deals and make more money with a minimum investment of their time and money. For more tips on how to market to get motivated sellers calling and begging to do business with you go to: http://www.find-real-estate-investing-deals.com/index.htm?article1

Writen by Deb McMillan

Good news. As a real estate investor, you've found a home in pre-foreclosure. You know the owner has missed three mortgage payments, and he now owes the bank more than he can sell his home for.

With the bank poised to begin the foreclosure process, you're ready to step in and begin negotiating a short sale. You're ready to convince the bank to take less on the property than is owed in order to save the homeowner's credit, save the bank time and money in lawyer's fees and court costs and buy yourself a property at a great price.

But before you can begin the negotiation process with the bank, you must first take the most crucial step in the short sale process. Unless you do this, any fee you negotiate with the bank is irrelevant. Do you know what I'm talking about? If not, you better keep reading.

The one step you never want to overlook is getting the property under contract with the seller.

You could do everything else right. You could determine that the house is worth the remainder of the mortgage: $85,000. Only it needs $15,000 in repairs to get it's real value to $85,000. And you have estimates from reputable contractors to prove that the purchase price of $50,000 is indeed the as is value. (Don't forget to leave room for your profit!)

You have done your homework so well that the bank wants to take the $50,000 and avoid the year and a half foreclosure process and expense. Now this property is on the verge of becoming yours at an amazing price.

If, however, the owner hasn't signed a contract giving you permission to negotiate the short sale with the bank, you have no authority whatsoever. Although the owner is not current on his payments, he is still the owner of the property. As the owner, he has to authorize you to make the sale.

So how do you get the owner to sign a contract?

Simply approach him with the same numbers you would take to the bank. Show him how selling the property for less than its worth will benefit him. Show him how it will keep a foreclosure off his credit report as well as prevent him from owing back payments, legal fees, interest and penalties.

When he agrees to your deal, get him to sign a contract authorizing you to buy the property by way of a short sale. Then–and only then–do you approach the bank with your negotiation tactics.

Keep in mind that vacant houses in pre-foreclosure are tougher to deal with. Because you have to track down the owner. He may be living with a sister, a friend, a parent or any number of other options that are not easy to track.

Just remember that taking the time and making the effort to get a signed contract are well worth it. For that contract with the owner is the most critical aspect of a short sale.

Deb McMillan, OPHP, CMI, is a real estate investor and writer living in Hamilton, Ohio. She has written a home study course on Short Sale Success Systems, which teaches investors how to get deep discounts from the bank when buying pre-foreclosures. She has been investing in real estate since 1986 and buying, selling, and teaching short sale strategies since 2000. In Deb's home study course and seminars, you'll learn how to talk to sellers to get them to do what is necessary to save their credit. In addition, you will become familiar with bank negotiation strategies that will lead you to incredible savings when buying real estate. You will also learn about bankruptcy and what you can and can't do once a homeowner files. That, and so much more knowledge that will help close your deals awaits you! Log on to http://www.shortsalesqueen.com for more information and a free report.

Writen by Sean Spencer

Because Finding the Right Real Estate Agent Can Make All the Difference in the Success or Failure of Your Home Sale

Selling a home involves many critical and personal decisions. However, one of the most important decisions is the first decision you need to make—a decision that impacts your entire home sale:

Which real estate agent should you work with?

Unfortunately, many people make this decision based on the idea that all real estate agents are basically the same. They sign with the first agent to come along, only to realize too late that they should have shopped around.

This article is designed to help you avoid that mistake by equipping you with what to look for in selecting your agent.

Start by asking your friends and family for the names of agents they know. Look around your neighborhood for the signs, ads and marketing materials of active agents in the neighborhood. Once you've compiled a list of several names, use this guide to help you determine which agent is best for you.

Here are the questions you should ask each agent:

Question 1

"Could you send me some information about yourself?"

You can often get a good idea of which agents are most professional and most committed by looking at their personal marketing materials—brochures, direct mail, listing presentation book, etc.

Call each name on your list and ask them to send out any information they can before you actually meet with them for a listing presentation. When you get the personal brochure or other materials, look them over and determine your initial impression of this person.

Are the materials they presented professional?

If not, you might ask yourself,

"If they don't have the wherewithal to properly market themselves, how will they market my home?"

Also, keep track of how quickly and efficiently they respond to your request for information. Are they friendly and helpful? Or just pushy and hungry for a listing?

Does this seem like someone you'd be interested in talking with? If they aren't organized and professional enough to respond promptly to your first request to find out more about them, they'll probably handle potential buyers for your home the same way.

If you like the way they respond to you and are impressed with the information they supply, call them and invite them to make a listing presentation to you.

It's always a good practice to meet with more than one potential agent before making a final decision—usually three to five for sellers.

Just make sure that you don't meet with more than one from the same company. This could cause internal strife which would be counterproductive in marketing your home.

Question 2

"How do you approach your work?"

What you should be looking for, first and foremost, is an honest and knowledgeable individual, who works full-time, represents a solid and reputable real estate agency, and will treat your best interests as paramount. Length of time in the business, track record of success, previous experience, expertise in and knowledge of the local real estate market—all of these are factors to consider.

While the right agent to market your home may not be number one in every aspect, you want to make sure that the person you hire is a well-rounded individual whom you can trust and respect as a professional.

Question 3

"How many homes have you listed in the past six months?"

Look for an agent who is active in your area and has experience dealing with homes and situations like yours. This is especially critical if your home or transaction has special features or terms that may make it more challenging than the typical home sale.

Question 4

"How many homes have you sold in the last six months?"

Beware of agents who simply gather listings and let them sit and wait for someone else to sell them.

Your agent should have a good track record getting homes sold, which is, after all, your ultimate goal.

Question 5

"What is the average length of time your listings are on the market?"

You may automatically assume the shorter time on the market, the better. But take note:

If an average length of time on the market is significantly faster than the average for homes in the area, is it because this agent is more effective or because he or she likes to low-ball the asking price in order to get homes sold more quickly?

Also, take a look at what the original asking prices are for homes the agent lists versus what the homes finally sell for. This "swing" number will tell you how effective the agent is at helping clients determine the right asking price and doing what it takes to help them get it.

Question 6

"How long have you been in the business?"

Depending on the agent's background and track record, there is no hard and fast rule for what to look for here.

An agent may have been a licensed real estate professional for 15 years, but only selling part-time and never really an active seller—maybe only handling one or two transactions per year.

Whereas another agent may have only just become licensed one or two years ago, but has a background in real estate finance, worked in real estate law for a number of years or has been a private real estate investor and has bought and sold more than 20 homes himself in the last 10 years.

Either way, you need to find someone who has an in-depth knowledge of the legal ins and outs of the business as well as the characteristics of the local market, and has demonstrated competence and professionalism in getting homes sold.

Question 7

"What professional organizations do you belong to?"

The minimum here should be a fully licensed professional who's a member of the local real estate board and multiple listing service as well as the state and National Association of Realtors.®

Local community groups and business associations may also be pluses in terms of networking and insight into the community

However, make sure your agent is focused on what's important—selling your home.

Question 8

"Do you have a personal assistant or other

support staff working for you?"

Some agents employ an assistant or staff. This doesn't necessarily mean better service, but it can be an indicator that the agent treats selling real estate as a business.

By employing someone to handle the small details, he or she can devote more time to serving your needs.

However, be sure you know up front how much involvement you can expect directly from your agent, and how much is usually handled by someone else. It may be fine that most of your interaction after the listing is with an assistant or other staff member as long as you don't feel passed off onto someone else and you are kept informed of exactly what the agent is doing to get your home sold.

Question 9

"Do you have any questions for me?"

In the interview, look for an agent who asks pointed, specific questions, not someone who's just filling in blanks on a form.

That's the sign of someone who is already thinking about your situation and is creating a plan of action specifically for you rather than just using a cookie-cutter approach for every client.

Make sure you feel comfortable being around this person—you will be relying on his or her expertise.

Question 10

"What marketing approach will you use for my home?"

Despite having the same basic marketing tools at their disposal—Multiple Listing Service, company tours, Board of Realtors® tours, fliers and brochures, for sale signs, MLS lock boxes, public open houses, advertising, direct mail and personal networking—every real estate professional has a different marketing strategy.

Learn each agent's marketing philosophy, and determine what will work for you.

Make sure the agent you choose doesn't rely on the same marketing tool for every sale. What worked for yesterday's seller may not get the results you want. The key is to find an agent who will use all the tools available to your best advantage.

Question 11

"Will you produce a flier or brochure for my home and what will it look like?"

Take a careful look at the materials the agent has produced to market their current listings. Do the quality, design and wording of the materials seem to present each home in the best light?

Put yourself in a potential buyer's shoes: Would you be interested in the homes after seeing these materials?

Question 12

"How often will you hold open houses? Will they be public, broker-only or 'by appointment only?' How do you feel open houses will work best for my home?"

Simply putting a sign on your lawn and holding an open house every Sunday afternoon will not get your home sold.

In addition, a house held open too frequently can begin to look like a loser, making it a prime target for low-ball bidders.

Your agent should have a carefully-planned rationale for each open house and it should be just one facet of a complete marketing plan.

Question 13

"What is your advertising plan for my home?"

Most people believe that advertising a home in the newspaper is the way a home gets sold. Unfortunately, this is simply not the case. The truth is: Good real estate agents sell homes. And they do this through their own personal advertising, networking, skill, and creative advertising methods like the Internet, toll-free hotlines and fax marketing that give potential buyers 24-hour access to information about your home.

Don't be concerned with traditional methods of advertising houses. Make sure your agent uses innovative, cutting edge methods that make your home stand out from the rest.

Question 14

"How else will the property be exposed to other agents?"

Exposure is the key to any home sale. In many cases your home will be sold because another agent knows a buyer who is looking for a home like yours.

Beyond simply listing your home in the MLS, your agent should be using a wide variety of techniques to let those other agents know about your home and keep them aware of it until it is sold.

Question 15

"Are you going to help me in staging my home?"

Preparing a property for sale, or "staging" it, is very important in maximizing the value and minimizing the time on the market.

If a prospective agent does not mention this aspect of the sale on his own during the listing presentation, he probably has no plan to offer this service to you.

Or he may be afraid of bringing it up for fear of offending you by telling you about negative aspects of your home that should be changed—or positives that need to be highlighted—to increase its appeal to potential buyers.

A confident and competent agent will find ways of broaching the subject and let you know of specific ideas—beyond baking bread and putting out fresh flowers for open houses—to make your home more salable.

Question 16

"What will you do to keep me informed?"

Do you want weekly, daily or hourly reports from your agent? Are you comfortable with letters, phone calls, or do you want to discuss matters in person?

Determine how much communication you want, then find an agent who will give you the attention and time you deserve.

Question 17

"What listing price do you recommend for my home and what is that price based on?"

Pricing your home is the most critical step to selling it, and you should choose a Realtor® who has the knowledge to price your home wisely.

Here are some things to keep in mind:

Don't go with a "yes man" who will promise a high price in order to get your listing—your home may languish on the market.

Don't let an agent talk you into an artificially low price designed simply to sell as fast as possible.

Do have each agent justify the price through comparable properties and facts about the market.

The selling price should attract prospective buyers to your home, get you top dollar in the current market and reflect the condition of your house.

Be realistic. A good Realtor® will be honest with you about the value of your home and have the cold, hard facts to justify that value—both to you and to prospective buyers.

Question 18

"Can you provide me with further resources that I may need?"

Most agents work with a team of professionals in many fields, including title, escrow, mortgage, home inspection, pest control, carpet cleaning, etc. While you are not obligated to work with an agent's team, often you may find it is the optimum way to go.

The best agents have built strong relationships with their "teams," and can often get expedient service or be able to "cash in a favor" for your transaction should a crunch or problem arise.

Question 19

"Can you give me some references from other clients you have worked with?"

Don't be afraid to ask for references. This is not confidential information, even though many sellers would never think to ask for it.

Real estate transactions are a matter of public record, and if you want to take the time to go down to the courthouse, you could compile your own list.

However, any agent who provides good service and is proud of his or her work will be happy to provide references.

If possible, contact a few of these references directly. Check to see how well the situations described by these previous clients fit your situation, particularly if you have a complex transaction or special circumstance that requires specific expertise.

Question 20

"What does the listing agreement entail?"

Have the agent go over every detail of the listing agreement with you before you ever sign it.

This is a legally binding document and your agent should be open and up front with you about exactly what you're signing.

Ask to know exactly what each portion means and be aware of what the contract will legally obligate you and the agent to do.

Question 21

"What are the beginning and expiration dates of the listing agreement?"

This information should be included on the agreement itself and, should a dispute arise later, could be crucial in determining commission payments.

Beware of agents who want you to agree to a very long listing period.

Unless they can provide compelling reasons why your sale should take longer, generally three months is a good amount of time for a listing agreement.

Also remember that the listing agreement is designed to protect not just you but the agent as well.

Good agents work hard for their commissions and deserve just as much open communication and straightforward dealings as you do.

Question 22

"What are the amount of brokerage fees I will be paying?"

The customary fee generally ranges between five and seven percent although brokerage fees are not fixed by law and are negotiable.

However, whether you pay a fee that is higher or lower, you generally get what you pay for.

Especially beware of agents who are willing up front to take a reduction in their commission. It may well mean that they never intend to spend much time, effort or money in selling your home to begin with.

Question 23

"What other fees or charges do need to be aware of?"

Title insurance, escrow charges, closing costs and prorated insurance, taxes, rent, home owner's association dues, etc.—the individual circumstances of your transaction and the needs of your buyer will all impact your final financial obligation.

Be sure your agent goes over all the costs that may be incurred so that you'll be prepared.

Question 24

"What disclosure laws or special zones apply to me and what do I need to provide?"

You and your agent will both need to provide specific disclosure forms regarding your transaction and your property. Also, if you live in an earthquake-, flood- or other disaster-prone area, special statements—or special study zones reports—may be required.

Your agent should be able to help you locate professional inspectors for the various mandatory home inspections.

Most agents will help you organize a home marketing file—including a property fact sheet, a property transfer disclosure statement, pest control report, applicable C.C. & R.s, applicable special study zones report, available soils or structural engineering report, property profile from the title company, applicable plans for alterations or additions, any home warranty plan offered and applicable special equipment report for pools, spas, sprinkler and alarm systems, etc.

Question 25

"What is a home protection plan and should consider purchasing one to facilitate my sale?"

There are many ways to enhance the salability of your home and sweeten the deal for prospective buyers. You may not need them, but you should know what they are and how they may or may not benefit you.

Question 26

"How will you determine the qualification of potential buyers?"

Ask what procedures the agent will use to make sure that you don't waste any time dealing with dead-end offers or escrows that can't be closed.

Question 27

"What happens if my home doesn't sell in the allotted time or if I decide not to sell my home?"

Much of the answer to this question should be spelled out in the listing agreement. Make sure your agent goes over every part of it with you.

Be sure to find out whether your contract contains a "liquidated damages" clause.

These are designed to specify a dollar amount you would be liable for should you decide to take your house off the market before the expiration date of the agreement.

Question 28

"What's the best way for me to get in touch with you?"

In this age of expanding technology and instant communication, most agents have pagers, voice mail and voice messaging services.

You should know exactly how to get through to your agent, his or her assistant, or a messaging service in case of an emergency 24 hours a day.

Your agent should not only provide you with prompt responses to your calls, but also should have a step-by-step plan regarding how he or she will keep you informed about the status of your home sale, including daily, weekly or monthly written reports on the actions that have been taken to sell your home and the resulting response from prospective buyers and other agents.

Question 29

"How would you like for me to give you feedback?"

As important as it is for your agent to keep you up to date, you should give regular feedback to your agent as to how satisfied you are with his or her service.

The best agent is one who makes it easy for you to communicate your satisfaction as well as the things you would like to see changed about the way he or she is handling your transaction.

Perhaps all you need is an explanation of why things are going the way they are or why your agent is handling things a certain way, but the more you can get all of these feelings out in the open, the better the two of you can communicate and work to change things if need be.

An organized professional will provide you with service questionnaires both at the beginning of the relationship so you can outline your expectations and at the end of the transaction so you can let him or her know how well those expectations were met, as well as regularly during the course of the sale so you can deal with any positives or negatives that occur along the way.

Sean L. Spencer, Realtor

http://www.SeanLSpencer.com