Memphis, TN Real Estate News

By David Saks
((retired))
                                                                A feeling of pride is automatically aroused in your client or your customer when you smile. People who can't smile can't make others happy. Smiling can give you better odds of closing the sale. When your customer or client tells you he doesn't like the house smiling is usually the last thing on your mind and on your face. Your beaten, frustrated, rejected. But what should you do? You should bear those pearly whites and smile with all your heart. That tells your buyer that you understand what their feeling and you can deal with their decision. It also shows that your capable of good sportsmanship. Not only does the smile cover what your really feeling inside and give you time to review your thoughts, but you remove the defen...
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By David Saks
((retired))
                                                            When you listen to your client or your customer you can sense their pride. They know they're being heard. The advantage is that you're learning and understanding their needs and removing many of the obstacles that might stand in the way of the cooperation you need. You're discovering their hopes, aspirations and cherished desires. It helps you guide your thought process in a positive direction. Listening can place you in the best position with your client or customer because you're demonstrating to them that you care about them, that you understand and appreciate their feelings, their problems, their conflicts, their emotions and their attitude. I believe that the greatest people in our profession are those who listen. When you...
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By David Saks
((retired))
                                                            I had a sales meeting tonight and we were talking about how stupid the gas prices are, and how tough it's become on everybody. Not to mention how it's driving the cost of everything through the roof. One agent suggested that the big oil companies were conspiring to pirate the economy. I thought for a second and wondered: What if we boycotted the big oil companies? What would happen? So I came up with the "Dead" M.E.A.T." formula. Here it is: Dead M=Mobile E=Exxon A=Amoco T=Texaco I told the agent that, maybe, if the country boycotted the oil companies in my Dead M.E.A.T. formula, gas prices would fall. Just a passing thought. What do you think?  
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By David Saks
((retired))
                                              The basis for this school of thought surrounding 'expecting to sell' is the premise that every sale is taken for granted. Do you believe, when you go in to your presentation, that there is absolutely no other thought in your buyer's mind other than buying the house? We know that the buyer's emotional condition, his or her mental postulation, at closing could be abnormal. If you argue, wander from the matter at hand, impose lots of inquiry, demonstrate doubts, question motives or appear negative, so will your buyer. You have to demonstrate, to your buyer, that you're positive and assertive, that your beliefs are accepted and authoritative, and that you're confident. These qualities will pass to your buyer. Could it be that the secret to this ...
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By David Saks
((retired))
                                                       What's the buyer thinking and why is the buyer afraid? I think I might have a line on what's on their mind: 1. Am I going to get my money's worth when I plop my bucks down for this pad? 2. Am I making a mistake in talking to this agent? 3. Is it a mistake to live in this neighborhood? 4. Should I wait a while because of this lousy real estate market? 5. Am I acting impulsively? 6. Is the seller honest? 7. Should I just hang on to my money and keep what I've got? 8. Should I talk it over with somebody else before I make a mistake? 9. How much money can I lose on the deal? 10. Where's my mommy? Can you think of any thing else that gives the buyer the creeps?
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                                                          I put together a list of a few things I consider classic closer killers. 1. Diarrhea of the mouth. 2. Phony enthusiasm or having an overly eager appearance to deal with your customer. 3. Crappy presentations and being poorly prepared. 4. Crowding the buyer with a bunch of high pressure garbage. 5. Negativism. What are some closer killers that make you go bananas? In this day and age it makes sense to demonstrate all of the integrity and honesty you can bring into the process. One real estate agents negligence can and will reflect negatively upon the professional community at large.
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By David Saks
((retired))
                                                             I've always believed that enthusiasm is an indispensible quality that you've got to have to be a real estate pofessional. You need it to close a deal. I like being around agents that believe in themselves, believe in their customers, believe in their clients, believe in their products, believe in their company and believe that better days are here.  They've been kicked when their down, driven back, told to go away, kicked out of homes and offices and their enthusiasm is stronger than ever. I know agents with so much enthusiasm that they could sell an air conditioner to an eskimo for the igloo in sub zero temperatures. Winners in our business keep going in spite of discouragements. What are your experiences?
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By David Saks
((retired))
                                                             In order to be a good closer isn't it important to know when to shut up? A good closer knows when to eliminate useless banter or other needless interjections. Good closers are great judges of just how long they should talk. Sadly, many realtors lack this judgement. I've seen realtors talk their buyers into a deal and then blab on until they've killed it. Is it true that the fewer words said the better? My high school band director, the late, great Darryl Wayne Vinson, once told me, "David, it's better to keep quiet and be thought of as a fool than speak up and remove all doubt." What kind of deal killer experiences have you had? Do you work with deal killers? What are some deal killer examples on your list? Are there some with...
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                                                                                 It is my honor to welcome the Active Rain Community to the Great State of Tennessee ! It is my hope that in the days ahead many new friends will be made and that many great thoughts, ideas and interests will be shared. Here are some facts & trivia about my beautiful state for you: Tennessee Facts & Trivia The city of Kingston served as Tennessee's state capital for one day (September 21, 1807) as a result of treaties negotiated with the Cherokee Indians. The two-hour legislative session passed two resolutions and adjourned back to Knoxville.   Andrew Johnson held every elective office at the local, state, and federal level, including President of the United States. He was elected alderman, mayor, state repr...
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If you see 'Click to Chat With Me' on the right side of the page click on the little guy with the megaphone and a cool chat window will pop up and we can text chat in real time if I'm on-line, anytime, even if I'm not logged in to Active Rain but surfing the web. Check it out ! If you see 'Leave Me a Message' I'm off-line. I'll try to pass along other neat things like this in the days ahead. Drop in, try it out and say 'hi' ! Available at Http://LivePerson.Com-David-
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By David Saks
((retired))
It takes a lot of muscle, men and machines to process the loans. What do you think that it takes to handle a massive electronic network that handles thousands of loan applications every business day? How can I link my real estate brokerage to the computers of five different lenders? If I'm the broker how can I satisfy my clients with the choices I have through my brokerage? I want to insure that my clients will have the best financing options available to them so I want them to know that the choices that are provided to them that are available through any companies CLO system are the lenders that serve that real estate brokerages CLO system. The borrower has the right to use any lender that will service the need to buy a home based upon the criteria which is mandated by the underwriter...
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By David Saks
((retired))
    If you let your buyer move into the home without disclosing that poison ivy plants ( Rhus radicans ) surround the fence, you might have some problems later. What kind of problems do you think that a seller could have for not disclosing that there are poison ivy plants surrounding the fence? Would it be covered in an errors and omissions poilcy before your buyer or their children got covered with a rash? If not, who would insure against the nondisclosure of poison ivy to the buyer at settlement if the buyer were injured by the poison ivy plants after they took possession of the property following closing? Should a standard termite or pest control letter also include information regarding poisonous plants, or should a letter from an approved phytologist be required prior to closing? C...
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Six Risks of Buying Foreclosures Part 5. Whether or not the property is marketable and has liquidity. As mentioned earlier, dead pit bull dogs in front of the house would make it real hard to sell. Ask anyone that's had to deal with that problem and they'll confirm it that it's very hard to sell a home with a dead pit bull dog in the driveway. At times, dead pit bull dogs have been seen near school grounds, senior citizen centers and neighborhood picnic grounds, further dampening sales. Have you experienced this problem ?
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                                                                                   Six Risks of Buying Foreclosures Part 4. The rental rates you have to worry about charging your tenants. It's a shame that all of those property tax increases have to get passed on to people who rent. That's why it's up to the people who rent to try and find all of the ways that they can to keep the government from raising taxes. Renter's Assciations should be formed and political action committees should work together inside the Renter's Associations to find ways to keep the taxes as low as possible. The landlord won't have to pass those additional tax revenues on to his tenants. Any thoughts ?
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 Six Risks of Buying Foreclosures Part 3. The interests rates that you have to pay for your loan.                      Oh boy ! We all know that the interest rate on the loan can trigger some interest in a new loan for any old financing project. It's been said that interest rates on investment properties are usually higher than the rates given to an owner operator in a commercial transaction or a homebuyer who intends to assume residency on the property of which they're trying to secure the loan. If the business owner of the commercial property secures the loan the bank believes that less risk is involved because of the owner interaction with the parcel or parcels of real estate. In the case of an investor purchasing small parcels of land or foreclosed homes with a credit card, these t...
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                                                                              Six Risks Part 2.The Future Value of the Neighborhood What good is the neighborhood if dead pit bull dogs are all over the place? It's very important that the neighborhood be kept clean and sanitary. Memphis was voted the cleanest city in the nation by area civic organization many times until the garbage strike of 1968. But the real estate values have remained constant. Citizens have never had better trash collections in 40 years. I've always been in favor of equipping the city with garbage trucks that have floral designs decorating the cab and the utility garbage compactor. What kind of issues do you see creating a market slump?
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                                                                    Part 1.The Physical Condition Why wouldn't you want to know if there was something wrong with the property? It's up to you to find out if there are termites in the floors or if the backyard is covered with poison ivy before you start raising your fan with your auction number printed on it. Know the condition of the property well ahead of the auction schedule.
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By David Saks
((retired))
                                                                                                                                       There are six risks:1. The physical condition of the property.2. The future value of the neighborhood.3. The interests rates that you have to pay for your loan.4. The rental rates you have to worry about charging your tenants.5. Whether of not the property is marketable and has liquidity.6. Events that are going to take place in the future.
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By Joe Spake, Midtown, Downtown, East Memphis Specialist
(InCity Realty)
It's not the Roller Derby you, or maybe your parents, remember from the 1960's and 70's.  The banked track is gone and so are the male players.  It is all female and has really caught on around the country.  The bouts are lots of fun to watch as women in wild costumes on roller skates compete on the oval track.  You might need to be a gen-Xer to understand some of the culture of the game:  the players' Roller Derby names, and the numbers on their uniforms, but its definitely good entertainment.So look for a Roller Derby bout in your area.  For more about Roller Derby in Memphis, go to www.memphisrollerderby.com  Its so much fun I decided to sponsor Memphis Roller Derby.  When the going gets tough, I want these women (Women of Mass Destruction Team) on my side!                           ...
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