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Reap returns from social media in 2012

By Andrea V. Brambila, Thursday, January 12, 2012.
Image via <a href="http://www.shutterstock.com/gallery-123907p1.html">sima</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

This year, businesses will focus on the fruits of social media marketing, speakers at Real Estate Connect in New York City predicted Thursday.

In 2012, "we will start to see the results of our social media efforts," said Ernie Graham, general manager of social media search platform SocialBios, which Move Inc. acquired in July.  more...

Move offers 'HyperSocial' agent tools

By Inman News, Thursday, January 12, 2012.
Image via <a href="http://www.shutterstock.com/gallery-524773p1.html">Thinglass</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

Realtor.com operator Move Inc. is offering Realtors two new mobile-enabled "HyperSocial" tools -- profile pages and agent recommendations -- that it says will be integrated into the Realtor.com "Find a Realtor" directory by the beginning of the spring buying season.

"HyperSocial Agent Profile Pages" are viewable from desktops and most mobile devices, and "serve as safe places for agents to direct their clients for all relevant contact information in one convenient location," Move said.  more...

Foreclosures back to 2007 levels Premium Content

By Inman News, Thursday, January 12, 2012.
Image via <a href="http://www.shutterstock.com/gallery-603655p1.html">surassawadee</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

Lenders foreclosed on homes last year at the lowest rate since 2007, but are expected to pick up the pace again this year as they put the "robo signing" scandal behind them.

A total of 1.89 million homes were subjected to some type of foreclosure-related filing in 2011, including default notices, scheduled auctions and bank repossessions, according to public records compiled by RealtyTrac. That's a 34 percent drop from 2010.  more...

Set proper boundaries with real estate clients Premium Content

By Bernice Ross, Thursday, January 12, 2012.
<a href="http://www.shutterstock.com/gallery-382939p1.html" target=blank>Megaphone image</a> via Shutterstock.com.

Do you have clients who yell and scream at you? Do you work with people who stretch the truth or just don't seem to appreciate you? If so, an excellent way to raise the bar in your real estate business is to raise your standards and to enforce tighter boundaries.

A "standard" is a behavior that we expect of ourselves. Standards are unique and vary from person to person. Each of us is unique; we all have different combinations of strengths, weaknesses, perspectives, capabilities, and levels of development. As a result, the standards we hold ourselves to will vary based upon our own priorities and combinations of unique talents.  more...

Stop blaming 'the other agent' Premium Content

By Teresa Boardman, Thursday, January 12, 2012.
Image via <a href="http://www.shutterstock.com/gallery-185902p1.html">Blaj Gabriel</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

There are incompetent real estate agents of all stripes and, yes, we need to "raise the bar."

But we also need to stop assuming that other agents are incompetent as soon as there is the slightest problem with a real estate transaction.

We need to stop telling the world that real estate agents are incompetent because we are making it hard for competent agents to do their jobs.  more...

Re/Max co-founder voted People's Choice Most Influential in Real Estate

By Inman News, Thursday, January 12, 2012.
Dave Liniger

NEW YORK -- Inman News readers have picked Re/Max founder Dave Liniger as the People's Choice Most Influential Real Estate Leader in 2011.

Liniger's selection, based on a popular vote by readers, was announced today during the Inman News Real Estate Connect conference in New York City, which runs through Jan. 13 at the Marriott Marquis hotel in Times Square.  more...

Mortgage rates sag to new lows

By Inman News, Thursday, January 12, 2012.
Image via <a href="http://www.shutterstock.com/gallery-324493p1.html">bonchan</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

Mortgage rates continued to plumb new depths this week, but demand for purchase loans remains down from a year ago, lender surveys show.

All types of mortgages tracked by Freddie Mac hit new lows during the week ending Jan. 12, the company said in releasing its latest Primary Mortgage Market Survey.  more...

7 Northern California MLSs reciprocate lockbox key codes

By Inman News, Thursday, January 12, 2012.
Image via <a href="http://www.shutterstock.com/gallery-91282p1.html">Dmitriy Shironosov </a>/<a href="http://www.shutterstock.com">Shutterstock</a>

Seven multiple listing services (MLS) in Northern California have finalized an agreement to share their listings, creating a region-wide consortium for MLS access. The agreement covers 21 counties, including Sacramento, San Francisco, Alameda, Marin counties, and 60,000 agents.

Agents in the region can now access MLS information online and the properties themselves via lockboxes.  more...

Protect deposit when making a contingent-sale offer

By Tara-Nicholle Nelson, Thursday, January 12, 2012.
<a href="http://www.shutterstock.com/gallery-56679p1.html" target=blank>Piggy bank image</a> via Shutterstock.com.

Q: As a buyer, if I make a deal to buy a house contingent on the sale of my house, but my house doesn't sell, do I get my deposit back?

A: Rarely do I get the chance to give a short, yet accurate, answer to a real estate question, so thanks for the chance! And that short answer is yes.  more...

If you made your purchase contract contingent on the sale of your home, and you are unable to sell your home, you have the right to back out of the sale and recoup your deposit.

Even short-term renters should be screened

By Robert Griswold, Thursday, January 12, 2012.
<a href="http://www.shutterstock.com/gallery-286756p1.html" target=blank>Couple with boxes image</a> via Shutterstock.com.

Q: We have short-term renters in our vacation unit in Palm Springs, Calif. They rented for one month with the option to extend for two more. As soon as they moved in, they began providing lists of what they considered was wrong with the unit. Some were legitimate, others were ridiculous -- such as the icemaker was providing only crushed ice and they needed cubed, etc.

They told us they wanted to extend a second month but then did not pay the rent.  more...

Trulia offers agents insights into consumer behavior

By Inman News, Thursday, January 12, 2012.
Image via <a href="http://www.shutterstock.com/gallery-386239p1.html">Zurijeta</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

Trulia today launched a new subscription-based lead-generation service that provides real estate professionals with insight into the search preferences of visitors to the popular listing portal.

The service, Trulia Insight, can also reveal whether potential clients are approved for financing, and whether they are already working with an agent or not, the company said.  more...

Brokers, your top agents may soon be your competition

By Inman News, Wednesday, January 11, 2012.
Image via <a href="http://www.shutterstock.com/gallery-504565p1.html">Cucumber Images </a>/<a href="http://www.shutterstock.com">Shutterstock</a>

NEW YORK -- Brokers, be concerned about the loyalty of your top agents. A survey conducted by InmanNext, an agent-focused website operated by Inman News, found that 61 percent of agents earning over $100,000 per year are considering whether to open their own brokerage.  more...

MetLife getting out of mortgage lending

By Inman News, Wednesday, January 11, 2012.
Image via <a href="http://www.shutterstock.com/gallery-50788p1.html">mypokcik</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

Realtor.com operator Move Inc. may be on the hunt again for another lending partner for its websites following an announcement by MetLife Home Loans that it's getting out of the forward mortgage business.

MetLife Home Loans -- the residential mortgage division of MetLife Bank, N.A. -- will no longer accept new loan applications for forward mortgages, MetLife Inc. announced Tuesday, although it will continue to originate reverse mortgages.

Move partnered with MetLife Home Loans last year to allow visitors to Realtor.com and AOL Real Estate to prequalify for a mortgage using Move's PreQualPlus decision and pricing engine.  more...

When it comes to real estate data, think 'convenient'

By Andrea V. Brambila, Wednesday, January 11, 2012.
Image via <a href="http://www.shutterstock.com/gallery-566638p1.html">carlos castilla</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

NEW YORK -- In a world inundated with information, the role of the real estate professional is to provide consumers with usable knowledge in the most convenient way possible, according to speakers at Real Estate Connect Wednesday.

Information overload has been around since the advent of the printing press, but it has never been more available, said Bev Thorne, chief marketing officer for Century 21 Real Estate.  more...

Know the tax rules on sale of exchanged property

By Tom Kelly, Wednesday, January 11, 2012.
<a href="http://www.shutterstock.com/gallery-461077p1.html" target=blank>House and money image</a> via Shutterstock.com.

The lackluster housing market has many investors looking for bargain properties, sometimes in bunches. Buyers are getting more creative about funding their purchases, rethinking the role of real estate not only for their portfolios but also for their residences.

In a recent example, an older couple sold their home and purchased two Arizona golf-course condominiums with the proceeds -- one for their primary residence and another as a rental -- and still put some money in their pocket. What made the deal interesting was that they had purchased the original home six years ago via a tax-deferred exchange.  more...

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