Tagged: title insurance

Nov 21

5 Holiday Time Hacking Tips For MI Real Estate Pros

How can Michigan real estate professionals better bend time to enjoy the best of the holidays while capitalizing on the end of year property rush?

The holiday season seems to start earlier every year, and that’s certainly true now in 2013. The smell of gingerbread is already in the air and commercials and tantalizing storefronts beg for the holiday shopping to begin and sweet treats to be enjoyed.

At the same time the anticipation of a break before 2014 can seem like a fleeting pipe dream for those counting down the days on their calendars. While the weather is cooling, the Michigan real estate market is on fire, keeping many local professionals sucked in like a magnet, not wanting to let down clients and referral partners or miss out on the big boost in income to top of the year.

So how do you find a way to enjoy more of both worlds; freedom and quality time to relax, without burning deals and dollars?

1. Black it out

If you haven’t already black out the time off you want on your calendar – literally. Leave no way to pencil in any activity for those days, whether it is a few hours or the entire month of December off. Then book the flights and hotels and pay for it do that there is no backing out.

2. Automate your real estate marketing

Automating real estate marketing has become easier than ever so there is no excuse for being tied to your desk or mobile device for the next 6 weeks. Put all of your marketing on autopilot with scheduled ads, Facebook posts, Tweets, emails, and blogs.

3. Hire a VA

Rope in some affordable virtual assistants to handle inbound lead calls and enquiries while giving you and your team the freedom to take off to relax and recharge for the New Year.

4. Create new passive income streams

For those Michigan real estate pros concerned they might see a dip in their income or that hope they be able to take a lot more time off next year add new passive income streams. This could be joint ventures with other local real estate businesses and service providers, joining affiliate programs, running ads on your website or blog (in moderation), and of course if you haven’t already, then choose a good passive income and passive wealth building real estate investment or two.

  1. MyCoordinator

Perhaps most powerful and profitable of all; use MyCoordinator to handle your title insurance work, real estate transaction coordination, and closings so that you can get on with what you really want to be doing, while having the peace of mind that your deals are still getting fast tracked and closed on time.

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Oct 19

Critical Tips For End Of Year Real Estate Closings

We haven’t even polished off the Thanksgiving turkey yet and the race for closing real estate transactions before the end of the year is on. There are many advantages to inking your deal before New Year’s Eve, especially this year. However, this is consistently one of the most challenging times of the annual rotation for getting things done in this business…

Knowing what you can do to keep your transaction on the fast track, understanding the complications and choosing vendors wisely will be critical to your success.

This applies to home buyers, sellers, a multitude of real estate of real estate professionals, including investors.

This year, on top of the traditional seasonal surge to close before the end of the month, and year, many are even more concerned about capitalizing on the tax benefits buying real estate has to offer, as well as getting deals wrapped up before the Mortgage Forgiveness Act and its benefits for short sales expires.

Of course like any other industry many workers become distracted with entertaining, holiday shopping and files are endlessly handed off between employees as they take turns on vacation. This happens in real estate offices, but perhaps most significantly at mortgage lenders, which can cause substantial delays in the closing process.

This makes it absolutely essential for all parties to get paperwork in fast, get conditions cleared and order title searches and insurance policies early.

It will also certainly help to take an extra patience pill, as many factors will simply be out of your hands and freaking out on everyone involved over the phone may unfortunately sometimes more likely see your file ‘lost’ than fast tracked.

Perhaps most importantly, recognize the need to choose the right MI title insurance company to work with, and partner with – one that is fast, committed, and will shoot straight on challenges and closing dates.

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Sep 13

What Michigan’s All Cash Real Estate Market Means For Buyers…

Who’s broke? Not Michigan according to the latest figures…

The city of Detroit might have filed for bankruptcy, but the local real estate market appears to be flush with more cash than ever before.

The latest data and a new report from 24/7 Wall Street shows that U.S. real estate transactions are increasingly being made with cash, not credit. In fact, nationwide 40% of recent real estate sales where cash.

More significantly; Michigan ranked 4th out of all U.S. states for the highest percentage of cash sales at a dizzying 53.1%. That number gets even higher in SE Michigan, at almost two thirds according to RealtyTrac.

Why the cash money frenzy?

This cash only trend is emerging for a variety of reasons. In many cases it is a matter of needing to put savings to work, and there isn’t much that can come close to touching real estate today.

Low home prices (MI has the 4th lowest) are also a major factor. Home loans haven’t been incredibly easy to come by in recent years and most mortgage lenders don’t want to bother with making tiny loans. Plus, who wants to fatten the bank’s wallets today anyhow?

So what does this cash heavy real estate market means for Michigan home buyers and investors?

For a start it signals an incredibly strong local housing market and underlying economy; one with lots of equity that will cushion it against fluctuations for a few decades.

Of course it also means that shopping for property in Southeast Michigan is highly competitive today. So you’ve got to move quickly, and be organized.

Sadly, this has led some into forgoing critical due diligence, which can often be extremely expensive, even to the point of far outweighing what they paid for properties in the first place.

The bottom line is that it is crucial to find a great title company partner for quick title searches, title insurance  and fast closings. They’ll come in handy with additional help for refinancing later on too, or closing on commercial loans to stay liquid and expand. After all, with long term interest rates so low is crazy not to use them!

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Oct 07

The Real Deal on Outsourcing for Michigan Real Estate Pros

New Cybercrime Prevention law could wreak havoc on outsourcing for MI real estate
pros…

Outsourcing has become an essential part of everyday business for Michigan real estate
agents, investors and mortgage professionals but a new law threatens to shake
up the industry and limit who can be hired and for what tasks.

The Philippines has been one of the main sources of outsourced staff for U.S.
businesses over the last 7 years but the Cybercrime Prevention Act of 2012 enacted on October 3rd
2012 could put an end to that.

Following on from the recent Facebook purge of spam accounts and fake likes this new law
prohibits and array of internet interactions from adult activities to spamming
and potentially controls who Filipinos can like on Facebook
and other social networking sites. The penalties are no slap on the wrist
either with 12 years hard time in prison and a $24,000 penalty per offense.

On the bright side many U.S. real estate related companies have already been
trending towards hiring remote staff onshore for better quality work and easier
communications. However, note that with millions of American businesses losing
their offshore workers due to this new law the rush to hire alternatives
onshore is sure to get fierce and we all know whoever has the best talent on
their side wins.

At the same time savvy real estate business owners and independent entrepreneurs
know that while outsourcing is critical for maximizing deal volume, speed and
profit it doesn’t always have to cost a bomb.

In fact those who have been using My Coordinator LLC for their title insurance
needs already know they can take advantage of quite a bit of extra help without
extra costs.

Check it out! http://www.mycoordinatorllc.com/

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