Archive for February, 2011

E-Commerce Workshop on March 12th, 2011

Invigo launches brand New E-commerce/ Internet marketing workshop for small business owners. The event will be held on march 12th and the location will be provided once registered.

Check out (for a crazy video on social media and how it’s impacting us right now).

We’re seriously limiting it to 25 business owners so register early.

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Real Estate Marketing – Considering Community Service to Boost Leads

To generate more real estate buyer leads, consider becoming an active member of the community where the sales are listed. Many benefits come from community service and getting out among fellow neighbors, including the following:

  • Increased exposure for real estate buyer leads
  • A feeling of trust
  • Mutual respect and goodwill
  • Friendship and camaraderie

It goes without saying that potential real estate buyer leads come from the same community in which houses are listed; therefore, an agent attempting to increase their base of potential leads would be well served in becoming active in their community.

Opportunities in the Community

Numerous opportunities exist for one to become active in the community, including but not limited to:

  1. Places of Worship – A community unto itself, these places provide warmth, interaction, and fellowship. Becoming involved in one as an usher, member of the choir, or joining a bible study group can easily generate a real estate buyer lead.
  2. Public Service – Consider running for the local city council or board of trustees, or even a school board position. Public servants have long been seen as respected members of a community, and potential real estate buyer leads may come in droves to one seen as a respected member of the community.
  3. Community Center Classes – Offer to teach a class about the mechanics of buying and selling a home at the community center, and the number of potential real estate buyer leads will increase. People are often daunted and confused about the process, and will welcome the opinion of an actual agent to help them.
  4. Community Events – Any event where the community gathers, such as a farmer’s market, local “cleanup day”, barbecue, or community festival can become a place to generate real estate buyer leads. Talk to those in charge about having a booth at one, or simply walk among the crowd with business cards and brochures at the ready.

Build Trust And Friendship

Real estate buyer leads can be greatly increased in deciding to not only list, buy, and sell homes within the community, but in becoming an active, long-term supporter and member of that community in any of the organizations listed above. Once trust and camaraderie are established, those that know the agent are more likely to call and refer others…leading to an even bigger increase in real estate buyer leads through word of mouth.

Becoming an active member of the community shows that an agent is interested in more than just the number of potential real estate buyer leads. It shows that the agent is concerned about not just their listings, but the people occupying those listings. Building trust and friendship with neighbors and members of that community makes it more likely that they will knock on the door when they need help…especially when selling their home, or looking at other property to purchase.

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Three Ways to Purchase Foreclosed Properties

Depending on where you live and how familiar you are with the foreclosure process will determine how you view purchasing a foreclosed home. To some people it is attending an auction and making a bid and to others it is negotiating a sale with the bank, who now owns the foreclosed property. In reality there are three ways that a foreclosed property can be purchased, and each one has its benefits and drawbacks.

The first one is the preforeclosure sale. There are times when you find out a home is going to be foreclosed upon, and at this point you can offer to buy it from the current owners. Here you can possibly do the most good, since the current owners will be able to control the damage to their credit a bit better and the banks usually like to get out from under the loan amount. The catch is that you usually have to pay what is owed on the property. A related method is the short sale, which is where you offer to buy the home below the loan amount and the bank agrees to sell it at a loss to avoid the expense of foreclosure or repossession. The problem with short sales is that the current owners could find a way to become current on their loan or the bank could change its mind and not sell for that price or any other detail could go wrong and cancel the sale.

After the home is foreclosed upon it may go up for public auction. In many places, purchasing a home this way is rarely as easy as it seems. First the rules of the auction usually keep many homes from being a bargain; they must be sold for at least a dollar over what is owed. Second, to hold the home to find financing usually requires a large deposit and then actually finding financing can be difficult. In some local markets, the auctioned property can come with liens that you are now responsible for. Be sure to know what your local laws are before purchasing an auctioned property.

The safest way to purchase foreclosed properties is to negotiate with the bank directly. There are many circumstances that the bank can sell the property directly or with the help of a real estate agent. Here the bank can agree to sell the property at a small loss or at costs, which could save you thousands. If the bank is selling as is or sight unseen, be sure to do your homework and learn as much as possible about the property in question. Otherwise, you may be stuck footing the bill for a damaged interior and cutting into or losing any potential profits completely.

As you can see entering into the investment market is not for the faint of heart, but for the brave, there are deals to be found and profits to be made. Be sure to hire the proper professionals, such as a real estate attorney or tax professional, and do your homework so you know what you are purchasing. This way your investments are more likely to turn to gold.

Posted in Foreclosures Home Buyer News Uncategorized | Leave a comment