Tim Kuptz Hump Day Report 5.26.2010

Memorial Day Weekend is here. While for most of us it is the unofficial start of summer it really has a significant meaning. Memorial Day, originally called Decoration Day, is a day of remembrance for those who have died in our nation’s service. It was originally observed on May 30, 1868 by the states in the confederacy and became an official Federal holiday in 1971 when it was tied to the last Monday in May. Take the time to give thanks for those who gave the ultimate sacrifice to preserve the growth, success and freedom for our United States.

Interesting point to ponder at the end of this report…

Designation Madness @ GLVAR! Click here to see the classes and reserve your spot – it’s taking place all through June at discounted prices. Learn to Earn – it’s the RE/MAX way.

In case you missed, the unemployment rate in Las Vegas is now 14.2% – a record high. Private sector (non-government) income in the U.S is at 41%, the lowest ever.

Read the Division’s Open House newsletter in your mailbox? Attached is the article from the Division about the unlicensed help and the rules when working the short sale side of the business. We will be issuing a statement of understanding for all agents to sign regarding this within the week. Speaking of the Open House newsletter, there was a licensee fined $10,000 for executing listing and referral agreements as the broker when in fact they weren’t. That is steep!

CDPE is coming here live! Click on the attachments for a flyer to the event. Current CDPEs can re-audit the event at a reduced price. Why do it again? Updated information, conversation, and referrals baby!

Went to the CDPE conference in Tempe. It was a good time and I saw some agents from Las Vegas who are prominent in this side of the business. Good news for those waiting for short sales to go away…only 10 to 15 years left to wait. As the players in the short sale business figure it out, a designation is going to get you more business and the education help you get paid more often as lenders are going to refer agents to sellers.  Here is some news from the conference;

>More foreclosures in 2011 and 2012 then a leveling in 2013 –still much higher than historic norms.
>Wells Fargo claims portfolios they manager are down to 38 days from contract to ready to close.
>BofA averages 59 days from contract to close where they have delegated authority. This is down from 87 just 6 months ago.
>Wells will go to Equator this fall as well for handling the process.
>Some really good marketing was shared as well – Jeff Scislow in MN was voted best marketer. His stuff is not glossy and million dollar marketing – it is effective with hismessage.  That was a big takaway this past weekend – it is not how it looks, it is the message!
>In November 09 BofA did 29,000 short sale initiations, in April 2010 – 67,000!
>!!! Many REO agents are now ramping up short sale businesses in big fashions emulating their REO business.

RE/MAX Advantage will be doing a panel of Qualifying a Short Sale Seller at our next office meeting. We will ask our experts how they go about picking the Sellers that probably will close and let the others work with less qualified agents.

Facebook just announced new privacy changes to their site. I have attached a copy of an email I received detailing some of their changes.

Back to you! We position our companyto receive walk-ins and work with SEO and PPC to deliver leads to supplement your businesses. In the last 2 weeks we have delivered 85 internet leads, 40 floor calls, and 9 walk-in customers. Hope you converted some!

Interesting revelation…Friendship is when people know all about you but like you anyway.

That’s it thank you.  Have a safe and fun weekend.

Tim Kuptz