Do's and Don'ts

We believe it is always a great reminder, brushing up on the Doʻs & Donʻts of a Professional REALTOR®. While this post is mostly directed to fellow REALTORS®, it is by all means a useful tidbit for Buyers, and Sellers as well. And please, add to the list if youʻd like!

REALTOR® Professionals DO NOT:

Showings:

• Show without an appointment
• Contact Seller directly unless directed by Listing Broker to do so
• Leave trash in/on/around property
• Smoke or allow smoking in/around property
• Allow children to wander
• Fail to cancel, or call, if late or unable to show
• Discuss price, etc. in front of Seller
• Talk to Seller about potential contract terms while showing
• Rearrange furniture and leave it that way
• Leave doors unlocked, windows open, alarm unset etc.
• Forget to leave a business card
• Fail to set thermostate at arrival setting

Offers to Purchase and Contracts:

• Hold offer to purchase... to present at your convenience
• Hold offer to purchase... waiting for another offer
• Alter contract yourself
• Inform another agent that property is "under contract" until signatures of all parties have been obtained
• Divulge contents of offer to purchase to another agent prior to closing
• Do not pursue asking for the amount when agent calls with an offer

Courtesy:

• Disparage publicly another agent of firmʻs business practiceʻs by word or deed
• Intrude when another agent is showing
• Call to say you have an offer to purchase unless you have it in writing
• Neglect to call Seller to make appointment for another agent if showing is through Listing agent
• Communicate any conflict between brokers and agents to buyers or sellers
• Offer a property at any price or terms not outlined in writing by Seller
• Allow lock box key out of your possession
• Solicit a future listing on a currently listed property (no matter how well you know the parties; including personal friends or relatives)

Signs:

• Placing for sale signs on properties not listed for sale
• Placing signs on right of ways
• Signs without company name
• False advertising
• Ignoring local sign ordinances

Complaints CAN be Filed:

• For unlicensed activity
• Against a licensed individual
• An ethics complaint against a REALTOR® - Call the Association of REALTORS® Office
• An arbitration complaint against a REALTOR® - Call the Association of REALTORS® Office

REALTOR® Professionals DO:

Showings:

• Follow instructions when showing listings/making appointments
• Arrive on time
• Leave your business card
• Turn off all lights upon departure (unless noted otherwise)
• Close drapes/curtains/blinds upon departure (unless noted otherwise)
• Check and lock all doors upon departure
• Call Sellers or Sellers agent to inform if appointment cancelled
• Refrain from smoking in/on/around property
• Use sidewalks - avoid walking through landscape
• Qualify Buyers prior to showing
• Report suspicious odors, broken locks, windows, etc. to listing agent and/or office
• Leave thermostat at setting upon arrival
• Wait outside when another agent is showing property

Offers to Purchase and Contracts:

• Present all offers (in the order received) immediately and at a reasonable time of day
• Selling agent may be present when presenting offer with approval of Seller
• Prepare qualifying information for Listing agent
• Allow privacy for listing agent and Seller to discuss terms of offer
• Specify in writing what stays with the property
• Fill out all forms pertaining to contract and provide enough copies for everyone
• Have changes changes to the offer initialed by all parties
• Leave a copy of contract and other forms with Buyers and Sellers when their signatures or initials are obtained
• Provide copy of final contract to all parties after all signatures are obtained, before time runs out or contract is void
• Assist Buyers with loan application
• Notify listing agent when loan is approved

Courtesy:

• Identify yourself immediately when calling another agent, office, or setting up showing appointments
• Divulge all pertinent information to Selling agent
• Give explicit directions by street name and number
• Fill out Listing form with every detail which is ascertainable... you owe it to your Clients
• Have access to property with key and any necessary instructions for showing
• Return keys to listing office promptly if borrowed
• Make calls during normal business hours to other REALTOR® if possible
• Leave clear messages so agents can return your call with required information
• Respect other agentsʻ "family time" in mornings and evenings
• Get involved in local board activities and become familiar with fellow REALTORS® and Affiliate Members
• Participate in Association annual elections
• Comply with the MLS Rules and Regulations including timely and accurate information on all listings
• Remember the REALTORS® Code of Ethics and "Do unto others as you would have them do unto you."

Always have your License available to show. It is a felony to Practice Real Estate WITHOUT a License.

We hope you appreciate the above hints and tips to better Real Estate practices... We encourage you to add to this list of Doʻs and Donʻts as this list seems to be never ending in this industry! So please, leave a comment, and add your two cents:)

And if you havenʻt already, please connect with us on..

Facebook and Twitter

Cyber Crimes; Protect Your Enterprise

The other day we received an email from Bank of America with an alarming subject line prompting any receptive human to open it. Us? We deleted it. Why? Because we donʻt even bank with B of A!!! Weird. Why would Bank of America be sending me critical news about my accounts that I must adhere to forthwith if… when I donʻt even HAVE accounts there. Whew!

Cyber Scams. Theyʻre real. And theyʻre in your inbox. Donʻt get caught like Derrick Jane did when he opened an email from who he thought was from UPS. He clicked on the attachment, which was supposed to be his package information and now he if fighting to keep his Southern California escrow company afloat.

These cyber fraudsters are creating believable email messages with malicious intent, causing unnecessary havoc in innocent lives. The virus Jane inherited through this email that went straight into his computers hard drive snatched all of his online banking passwords etc. and helped itself to hundreds of thousands of dollars via wire transfer.

Owning a small or large business can be tough, what ever your industry may be, especially when it comes to stealth like entrapments from sophisticated spammers. These types of stunts have been targeting corporations, and with increased incidents; thus awareness is now crucial. The Federal Deposit Insurance Corp. says such fraud has resulted in millions of dollars in losses, frayed business relationships, and countless legal battles between banks and businesses.

Smaller companies make particularly favorable targets because they are thought to be with out sophisticated technology, security and/or manpower to keep watch on things or even prosecute. An alarming truth of the matter is banks have little to no incentive to upgrade their online banking security since they’re generally not liable for losses in the case of a breach, as they are with consumer accounts.

James Woodhill, chairman and founder of Washington, D.C.-based Authentify Inc. said that under the 1978, Electronic Funds Transfer Act, banks ARE responsible for keeping consumer accounts safe from online fraud… But no similar laws are on the books for business accounts. "The thinking is, those who are sophisticated enough to manage a business account are sophisticated enough to manage their own security," says Thomas Tauzin, vice president of Capitol Hill Consulting Group.

Thank God that way of thinking is starting to change…

In our broke state of California, a proposed bill would require banks with online banking services to boost security, in part by requiring them to use "out-of-band" verification that uses a channel other than the Web—most typically, the phone—to approve wire transfers.

The federal government is waking up to this issue as well. A proposed bill would extend banks’ liability under the Electronic Funds Transfer Act to include public entities such as schools and municipalities. That would be an important first step for small businesses because it acknowledges that banks share responsibility for fraudulent wire transfers.

Some banks do offer online fraud protection as part of their service package to small businesses; however if your bank doesn’t offer that, major insurance carriers offer protection and we strongly advise you look into that for the sake of your enterprise. Travelers, for instance, combines coverage for electronic funds transfer fraud with coverage for computer fraud. Check with your existing provider or contact an insurance broker immediately, as what is more important than your money?

Jane (which is not his real name; he asked to remain anonymous) is currently in litigation with his bank to seek complete or partial repayment for this nightmare.

"I was floored that the bank wasn’t accountable at all," he says. "Once I alerted them, they cut down all communication with me. I couldn’t access the account. They just said, 'I hope you have insurance.'"

Are you kidding me?!?! …Nope. Call your bank today. If theyʻre not your friend, why should you be theirs??

Reduce Your Risks: Tips to Avoid Internet Fraud

Talk to your bank. Especially before opening a new account, ask the bank how it prevents cyber theft and whether it will cover losses for business clients. If yes, ask your banker to sign an agreement to that effect, Tauzin says. "That kind of proactive stance is what will help motivate banks to get serious about cyber theft of their business customers." And as youʻve heard us say over and over…and over in previous posts; “If itʻs not in writing, it didnʻt happen..” So simple. Invite your Bank Representative in your signature party. Itʻll be fun.

Keep tabs on your account. Check your online bank account daily, weekly, monthly; REGULARLY, regardless of whether you performed banking activity. And change your banking passwords on a regular basis. We change ALL of our passwords every 30 days. Excessive. Yes, but secure.

Think before you click. Attachments loaded with malicious software can steal online banking credentials from your computer, weʻre aware of this now. Be cautious about opening ANY attachment(s), clicking on links, or downloading files from an email. Pay attention to VERBIAGE in the body of the message, and more importantly? Know who youʻre doing business with! We consider any and all email from Bank of America to be SPAM! Why? Because we donʻt do ANY business with them!

Confirm that your security software is active and current. At a minimum, your computer should have antivirus and antispyware software and an active firewall. If you suspect your computer is infected, stop shopping, banking, and other online activities that involve user names, passwords, and other sensitive information. In fact, keep your personal life out of your business life. Clear your caches, cookies, and everything else starting from scratch. Set up your company’s computers where certain sites are blocked, especially sites that are prone fore phishing.

This is preventable, consider this your warning!

The importance of Twitter

It may sound unprofessional or techy, but next time you're at work, in a meeting/at a conference, out to lunch, or even in a classroom, ask the person next to you if they tweet.

Take that statement as you may, but both colleagues &students need to understand and utilize the power of Twitter. It's probably fair to assume most college students don't have an active Twitter account or know what Twitter is. So the battle of bringing people to "the light side" starts with knowing what this tool is.

According to Twitter.com, "Twitter is a real-time information network, powered by people all around the world, that lets you share and discover what's happening now."

By limiting the number of characters (only 140 can be used) one can "tweet," information much faster than in a news article or television broadcast. (Just give us the gist--we don't have time to read a dissertation--nor do we want to! Cliff Notes please!)

Students' use of social media tools outside of Facebook is drawing critics and supporters, and both have strong arguments. On one hand, there is an argument that people don't need another website to distract them from "real-life," although the common response from students is that it is stupid and only for geeks. (uhh, super smart & innovative geeks, then!)

Anyone who says the latter has never heard the expression that they will work for one of those geeks someday. Not to mention the young entrepreneurs that brought us myspace, facebook, twitter, etc.

When you boil it down, it's not about being a geek, or being ignorant, but about building a post-collegiate future. The reason Twitter is such a great tool for students breaks down to three main points: marketing, breaking information and finding a job. Wouldn't you agree those same points relate perfectly to those owning their own business, or work for a company that would greatly benefit from these outlets of "online exposure"... We think so!

Marketing

The most asked question on any twitter message board is, "how do I get more followers?"

The answer is to follow people on Twitter. There is an un-written rule in Twitter that if someone follows you, you follow them back. This allows more people to see your tweets, in turn getting information to more people. Follow by genre or topic. Get sucked in to Twitter by reading the status updates if you will.

When it comes to starting a new business, the best way to create a buzz is to have an active Twitter account with as many followers as possible. Our opinion would be to follow the top 500 tweeple (found here @PedersonPR_ ) Granted there aren't 500 tweeple in that list (yet), but every Twitter User is a catalyst for your purposes of being on Twitter. You should be following these innovators even if they don't follow you back; however we can guarantee more than 50% of them WILL follow you back. Also? When you do sign up with Twitter? Make sure you fill out the Name, Website, Location, & Bio area of your profile... this usually differentiates you from Twitter Spammers, especially if you're lacking any tweets. People need to know you're REAL!

Breaking information

On Feb. 10 a staff member at Inskip Elementary School in Knoxville, Tenn., shot and injured the school's principal and assistant principal. So what does this have to do with Twitter?

During the shootings, the first report of it happening was not in a newspaper, radio show or news broadcast, but a tweet.

Imagine if something on the level of a Virgina Tech shooting or some other emergency happened on your campus. Twitter would spread this information faster than anything else.

Finding a job

In 2008, Mark Luckie, journalism blogger and author of "The Digital Journalist's Handbook," sent a tweet from his account (@10000words) saying, "I JUST GOT LAID OFF. Anybody have a job?"

By marketing his twitter account, this message was passed on by a few followers and eight months later, Mark was hired as a multimedia producer at the Center for Investigative Reporting. He now has OVER 11,000 followers. How's his online presence?!!

So the question is; "Are you on Twitter?" . ...If you aren't, you should be! You're missing out! Get an online presence..if not for you, your company! And if not now, WHEN!???

If you have any questions, please ASK US!!

A Soft Twitter Plug. ..

Aloha Everyone!

We're writing this note to find out who of our friends have TWITTER accounts...

If you do... Please leave a comment or email us with your Twitter Username (i.e.@ppi_ or @pedersonPR_  ) & we'll "follow" you!

If you don't have Twitter Account... And you have a business? Why the heck aren't you on Twitter by now?! SIGN UP RIGHT NOW!

Like anything else though, these tools are only useful: IF YOU USE THEM!

. ..Let us know if you need help, or if you would like further information regarding Social Media:)

TIME TO EXPOSE YOU &/OR YOUR COMPANY!

H.R. 6133; "Prompt Decision for Qualification of Short Sale Act of 2010"

Homeowners who are underwater with their mortgage may find that relief is on the way from a bill strongly supported by the National Association of Realtors® and Pederson Properties, which would impose a deadline on lenders to respond to short-sale requests... If you have ever been in a Short Sale Transaction, then you understand how imperative this is!

The legislation, H.R. 6133, “Prompt Decision for Qualification of Short Sale Act of 2010,” was offered on September 15th, 2010, in Congress by U.S. Reps. Robert Andrews (D-N.J.) and Tom Rooney (R-Fla.). The bill would require lenders to respond to consumer short sale requests within 45 days.

“The short sale, which requires lender approval, is an important instrument for homeowners who owe more than their home is worth,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “While the lending community has worked to improve the size and training of their short sales staffs, they still have a long way to go on improving response times.”

“As the leading advocate for homeownership issues, NAR believes that quicker attention to the short sales process is vital to help homeowners who are underwater and their communities, as well as the nation’s economy,” said Golder.

The number of potential short sale properties is rising across the country. According to NAR data, in the second quarter of 2010, Nevada, California, Florida and Arizona are states where significant shares of all properties on the market are potential short sales: 32 percent, 28 percent, 27 percent and 24 percent, respectively.

“Unfortunately, homeowners who need to execute a short sale are severely hampered because lenders (loan servicers) are unable to decide whether to approve a short sale within a reasonable amount of time. Potential homebuyers are walking away from purchasing short sale property because the lender has taken many months and still not responded to their request for an approval of a proposed short sale price. Many consumers have mentioned that the delay in short sale price approval exceeds 90 days, and in many cases never arrives,” Golder said.

This is so true, in too many cases. This matter is particularly important for First-Time Homebuyers, as Short-Sales and Foreclosure properties ARE AFFORDABLE. But, how will you purchase it, if the lenders fail to respond?! Further information regarding this matter ensue.

Click Here to see the Bill.

Click our logo to visit our Website.

Preliminary Title Report

What does it mean if I see items like these on a preliminary title report??

"A Notice of Default Recorded April 21, 2010 As Instrument No. 2010.9999999, of Official Records."

This means the Seller/Owner is behind in their payments. The Beneficiary has fulfilled all due diligence requirements; Trustee has recorded a Notice of Default (NOD). This notice will contain the amount required to "reinstate" the loan. The sale date may be set 3 months after this date. Be sure that your closing date isscheduled before any proposed sale date whether you are purchasing this property or refinancing this loan.

"A Notice of Trustee's Sale Recorded July 22, 2010 As Instrument No. 2010.9999999, of Official Records."

The Sale Date for this property has been set. This recorded document contains the date, time, and place of this sale (usually on the steps of the properties county courthouse). If you are the purchaser in this transaction, or are the refinancing owner, you should verify for yourself that your closing date is scheduled PRIOR to the sale date or that the sale date has been postponed.

What's the Difference!?

What's a Will? . ..What's a Living Will? . ..What's a Living Trust?

A Will, Living Will, and Living Trust are all important legally binding documents. Every adult should carefully consider the advantages of each and fully understand the details of these documents. To take charge of this aspect of your life and help guide your loved ones should a crisis strike your family, extra planning should be taken into consideration. By planning and executing the proper legal documents, you can ensure that your loved ones are taken care of and that your wishes are respected in the event of a healthcare emergency or death. If you do not have a plan in place, your property after death--and the power to make decisions about your health, welfare, andfinances if you become incapacitated--will be in the hands of your biological relatives. Your wishes may not be honored.

What is a Will? A will is a legal document which dictates how your property is to be distributed after death, according to your wishes. It may also designate guardians for your children. Upon your death your will must pass through probate court before your estate can be distributed to your heirs. It is estimated that 60% of Americans over the age of 50 have a will. ..what about the other 40%?? Without a will, the state will determine who will receive your property, and a judge may decide who will raise your children.. .

What is a Living Will? A living will is a legally binding document that dictates one's wishes about certain kinds of medical treatment and life prolonging procedures in the event of a terminal illness. By limiting treatment, a living will sets limits on hospital bills which can drain and even wipe out your assets to the point that there is little left in your estate for your heirs. This document takes effect when you cannot communicate your own healthcare decisions.

What is a Living Trust? A living trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. You can also be trustee of your own living trust, keeping full control over all property held in trust. A living trust is one that is created while you are still alive, rather than one that is created at your death under the terms of your will. An advantage is that upon your death, your property automatically goes to your heirs without going through probate court which can be time consuming and expensive. A living trust is not intended to be a replacement for a will, but as an addition to your will and a living trust can be revoked at any time. Approximately 23% of Americans over the age of 50 have created a trust...