What can we take from this trying time in real estate and the overall economy? This article from RISMedia sums it up very well. 

1) Help consumers find the home that is uniquely suited for them.

2) Utilize the technology consumers are using these days—not dated selling techniques.

3) Serve your clients to the best of your ability.

Keep these 3 lessons in mind and soar out of this recession and further succeed in the economic upturn!

REALTORS beware: Mortgage Fraud is back with a vengeance. The Wall Street Journal explains in its article, “Mortgage Fraud Is Rising, With a Twist,” that criminals are finding loopholes in the newly updated system.

It may be more difficult to commit mortgage fraud these days, but that isn’t stopping some scheming scammers. Be careful to keep an eye out and not fall for the new wave of mortgage crime.

Have you ever been involved in a real estate transaction where the buyers ask the sellers if they can move in early? If the buyers’ lease runs out on Aug 1 (or they for some reason are stuck without a place to live) and the closing date for the property is not until Aug 6, you may be caught in this predicament, however innocent the request may be.

In Inmen News today, Bernice Ross explains the consequences that can occur if the sellers agree to let the buyers take possession early. In a nutshell, advise your seller clients not to allow this, or at least recommend they draw up a lease agreement and demand a security deposit. So much can happen in the short time between the sellers moving in and the official closing. Help your clients avoid these major mishaps with advice from “Pre-Closing Horror Stories.”

Are you being too passive in your lead generation techniques? Are you putting your information out there and passively hoping for the buyers to come to you? Don’t fall into these “real estate sinkholes” by putting all your eggs in one marketing basket. You need to be proactive in your marketing and lead generation campaigns.

Avoid getting into a real estate rut by following these marketing tips from Bernice Ross, CEO of RealEstateCoach.com, available at Inman News.

Real estate professionals are making the most of the recent housing market hurdles by using social media for real results. From sharing videos, listings or advice with their communities and prospective buyers or sellers, REALTORS are implementing new and effective ways to boost their business with a variety of social media tools. Read this article from Mashable.com to find new and innovative ways for real estate agents to get their message out.

From connecting with buyers and sellers to networking with industry peers and lending expert advice, there are many ways to utilize social media as a real estate professional. Are YOU using any of them?

Good news for homebuyers and REALTORS: The Senate has approved an amendment to extend the tax credit closing deadline for those who were under contract by April 30! Read this article from Inman News to learn more.

According to real estate and lending experts, mortgage lenders will try to recoup their losses from home sales and foreclosures that did not return enough money. They will be suing homeowners who have ransacked their houses under foreclosure or who have walked away from underwater properties in order to discourage such behavior in the future.

Read the article in REALTOR Magazine here: http://www.realtor.org/rmodaily.nsf/pages/News2010060902.

In honor of Fair Housing Month, we’d like to share some excellent resources for avoiding any kind of discrimination in your career. First, the U.S. Department of Housing and Urban Development has an entire section on their website devoted to the topic at www.hud.gov/fairhousing. There, you will find HUD’s brochure, 39 Steps Toward Fair Housing, which offers a timeline of the key moments in the history of Fair Housing in the United States, or HUD’s newsletter, Fair Housing News. You can learn about your rights and those of your clients, as well as unfair lending practices, fair housing laws, recent studies on fair housing, statistics across the U.S., information on applying for grants, and much more.

Another great place to find Fair Housing information is the Fair Housing Blog, by Fair Housing Helper™, which is dedicated to training real estate professionals. Author Ron Leshnower explains:

“The truth is, understanding the difference between fair housing and unfair housing isn’t always clear-cut—even if you’re an intelligent professional with nothing but the best intentions. Fair Housing Blog by Fair Housing Helper™ aims to present a variety of interesting fair housing issues that are as relevant as ever. Avoid costly mistakes by reading the stories of real estate professionals who learned their compliance lessons the hard way.”

Finally, check out the National Association of REALTOR’s Fair Housing Resources page, where you can find discrimination field guides, fair housing toolkits, explanations on acts and initiatives, and more—like NAR’s Fair Housing Month poster showcasing the diversity of our country and the classes protected by the Fair Housing Laws.

As always, Pearl Insurance presents many options for Errors and Omissions coverage for real estate professionals, as well as a large selection of risk management tools—like those devoted to fair housing and avoiding charges of discrimination. For more information, visit www.pearlinsurance.com/eo.

Here’s a great article posted by www.realestate.com called “Top 10 Home Buying Mistakes” that you may want to share with your real estate clients. For those who may not understand the process of buying a home or are on the fence about buying real estate “the right way,” these tips serve as useful tips on how to make purchasing a home go as seamlessly as possible.

Read the article and let us know if you agree by posting a comment below!

The new Massachusetts data security law is now in effect, as of March 1. This regulation—201 CMR 17.00—requires businesses to adhere to stricter guidelines to keep the confidential information of Massachusetts residents secure. It’s very important that all real estate professionals take all steps needed to comply with this law immediately. Here’s an explanation (see more by downloading the pdf of the article, “New Massachusetts Data Security Law: Are You in Compliance?” from Pearl Insurance).

Meant to protect Massachusetts’ residents from identity theft, the law now “establishes minimum standards to be met in connection with the safeguarding of personal information.” Now businesses must not only notify consumers of when a possible data theft or misuse has taken place, they must have standards in place to proactively protect their customers’ personal information.

If you don’t know if you’re up to speed on this law, PLEASE download the full Massachusetts Data Security Law article below! This regulation is not just meant for Massachusetts-based organizations, it is in effect for ANY company who does business with a Massachusetts resident.