All Forum Posts by: Duane Alexander

Anyone know anything about HOA Foreclosures? I know if the previous owner is was foreclosed on had a mortgage then that mortgage survives with the property. My question is if you buy the foreclosure then sell to someone else, can you pay off the mortgage even if it's technically still in the previous owners name? How does that work? Does the previous owner need to authorize a payoff?

Yep it would be a major lift but I think it's necessary and probably the most common sense way to solve every issue this settlement is trying to solve. DOJ seems to be interested in this, so maybe they'd be interested in also updating Dodd frank and Fannie and Freddie rules to accommodate. Trusting the government to do something that makes sense....lol we can all have hopes and dreams.

In regards to offering sellers less, yep that's exactly what's going to happen. The problem is that with FHA and VA concession caps, good luck fitting commissions along with rate buy downs, repair costs, etc. in. Imagine the conversations between buyers agents and buyers when a buyer can't get the house that they fell in love with because the agent couldn't get their commission. More reason to just allow the buyer to roll the agreed upon commission into the loan and not make this something that is provided by seller credits.
.

 The problem is that if you advertise anywhere that you are only paying a buyer agent .5 percent, no buyers agent will show the house. This is another reason why sellers should NOT be the ones setting the buyer’s agent commission. The buyer agent’s commissions should be negotiated between the buyer and the buyer agent and buyer’s agent needs to prove their value to their client to negotiate the highest amount. This system we have now is stupid. 

This can all be easily fixed by having buyers actually pay their agents commissions themselves out of pocket and lenders should allow them to finance the commission as apart of the transaction. It should no longer be baked in as apart of the sales price. There is no reason a seller should have the buyer's agent's funds come out of their proceeds, basically paying someone to negotiate against you. It's freaking silly. This way buyers can then shop buyer agents and the commission should be negotiated purely between buyers and buyer's agents which would result in zero possible collusion. Of course this makes too much sense and will never happen though.

All of them tbh

 Hey Grant. I stopped using Reireply before they added the multiline dialer so I can't really give an opinion on it. I no longer cold call, but I loved the simplicity of Batch Dialer. Very intuitive and well designed compared to other popular dialers out there like Call Tools and what not. I switched from Reireply to marketing plex because my account got banned on Reireply so I decided to give Marketing Plex a shot. Now my company uses Launch Control as my texting platform to great success.

 I like batchdialer for cold calling, but for texts/rvms I like Reireply , Marketingplex (which is basically the same as Reireply), and Launch Control

Industry standard is about 50-100 leads (not prospects ie size of list) to a contract. In my business for example we texted about 35k people last month and got 163 leads and about 3 contracts out of that.

I disagree with those in this thread saying to knock doors and do other forms of marketing instead of doing PPC. It's like comparing a Ford Pinto to a Ferrari in regards to marketing. PPC is one of the greatest forms of marketing when it comes to real estate. Having said that, PPC is awesome but I'd expect to have to spend a ton of money in a highly competitive market like Austin to get a good return. 

PPC in comparison to FB ads are different as well. PPC leads will be a lot hotter. People that are googling "how to sell my house fast" are going to be a lot more ready to go than people who come across your ad while perusing all the BS on Facebook. 

If you have 100k addresses, do not sleep on just recycling your current data. Marketing is all about timing. I know people who recycle the same 40k leads and do 5-10 deals a month.