Farming Condominiums and Townhouses as we come out of this downturn in the market.

By
Title Insurance with First American Title Company ePro, MBA

Real estate agents are in a position to change peoples lives!  You can take a renter and get them in a first home.  Typically, it is a lower priced home -- maybe a condo or townhouse.

Consider that their families will grow and if they have been in the townhome or condo for 3-5 years -- maybe they might have the equity necessary to take the next step.

Better yet, the tax advantages of selling after you own the home for two years is more of a reason to connect with this audience.

Contact your local title insurance company and ask them for a Condo or Townhome farm -- they can brake this down based upon use code and only ask them for owners and those that have been in their unit for over 2+ years. 

Send them cards, letters, door knock and work them as another way of generating leads resulting in business over time.

We eventually will come out of this market -- I have been through several cycles and position yourself to be ready for when it happens -- don't wait for it to have already turned.  It takes time -- repetitive awareness of you, your brand and your purpose.

Make it a profitable day.

Posted by

Make it a profitable day!

Scott Hoen

SHoen@FirstAM.com

Direct:  (714) 250-5014

Cell:  (714) 270-9607

"The Views expressed herein reflect only the individual's personal views and are not the views of the author's employer."

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Rainmaker
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Vickie Nagy
Vickie Nagy, Broker Associate Realty ONE Group BMC Associates | BRE#01363932 - San Ramon, CA
Broker for San Ramon, Danville, Dublin, Pleasanton

I might add that it's also time to farm renters. Prices are attractive and first time homebuyers assistance available.

Aug 08, 2008 02:20 AM #1
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Scott,

I do not want to disappoint you, but I think this is a dangerous line "Real estate agents are in a position to change peoples lives!"

We should not change people's lives, we only help them to do what they are ready, and willing to do. THen we would be professionals, and not magicians.

I think the change in the approach would be of paramount importance to survvive when the market rebounds. 

Aug 08, 2008 02:35 AM #2
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Scott Hoen
First American Title Company - Yorba Linda, CA
VP, Director of Marketing Systems & Tech, ePro, MB

Vickie -- can't agree more -- there are renters that have good credit and are saving to buy a house -- a farm to work over time

Jon - I understand but what I mean is that if you can help someone start building equity with the dollars and take advantage of the tax system with the purchase of a home -- it is a life changing event and probably the most important transaction in their lives up to that point in time.  Stay in contact with them over time and they too can become a good referral source.

Thanks for the input.  Make it a profitable day

Aug 08, 2008 03:12 AM #3
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Chuck Willman
Gentry Realty - Mesa, AZ
Realtor - Arizona - 480.292.0600

There are quite a few renters who could very easily improve their financial position by purchasing. There are homes that are less expensive than rent and still a few programs to handle the tough part- the down payment. It's a great time to get that message out.

Aug 10, 2008 09:39 AM #4
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Rainer
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Scott Hoen

VP, Director of Marketing Systems & Tech, ePro, MB
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