|
Title Wise
The New Jersey Real Estate News You Can Use
|
Despite lower interest rates, the tight inventory environment is making every sale 'mission critical' to the sustainability of business. That's why in this Title Wise we are featuring stories of Fixing Your Credit Score and Sales Prospecting in 2020. Be smart, stay safe and keep focused.
Please feel free to email me at ralph@counsellorstitle.com
if you have any questions or would like to follow up on any of this edition's articles.
Ralph Aponte
732.914.1400
|
How To Fix Your Credit Score
Here Are 17 Ways You Can Fix Your Credit Score
Here are some tips on how to improve your credit score, both personal and business:
1. Check Your Credit Reports
You must know your credit score to fix bad credit, and the best way is to check your credit reports using Experian, Equifax, or Transunion. You can get a free credit report for personal credit - many companies make that available - but business credit scores are another matter.
First, the three credit bureaus - Dun & Bradstreet (D&B), Experian, and Equifax - each have different scoring models and types of reports. Second, most are not free credit reports for a business. For instance, a single standard credit report from Experian costs $39.95, while Equifax prices start at $99.95.
Tip: The credit monitoring service Nav.com offers free credit report copies of your Experian, Equifax, and D&B scores for your business.
2. Identify and Dispute Any Errors
Don't just access these sources to review your credit score.
Examine the factors credit agencies use to determine the rating and investigate those that affect your score specifically. Errors are common. In fact, 25% of these reports do contain serious errors. So check them carefully. Removing negative information is an essential part of your credit repair efforts.
Identify any apparent errors you find and dispute them with the bureaus and the creditor or information source. You can file disputes on each of the credit reporting agencies' websites.
# # #
|
|
Interest Rates Drop, Prices Pop
It feels like a virtual tug-of-war interest: rates drop and home prices pop. The pent-up demand that accumulated during the paused spring season is only creating an increasingly difficult and competitive home buying market.
According to the National Association of Homebuilders, less than 60% of new and existing homes that were sold in 2Q of 2020 were considered affordable to families with an adjusted income of approximately $73,000 per year.
This condition is also being aggravated by the historic contraction of inventory of homes available for sale in the United States. Some markets have fallen by as much as 60% from 2019.
New Jersey's Market
In New Jersey, for example, the median sales price has increased by only 1.7% to $355,000; but the average sales price has skyrocketed by 6.5% to $450,645 over the last year.
And the number of homes for sale throughout the state of New Jersey has fallen by nearly 45% to just 23,514 homes. This translates into a 3.4-month supply of homes.
Compare this to the number of homes for sale in September of 2011 when there were approximately 57,000 homes for sale on the market and the month supply was 15.7 months. Also the average sales price back in September 2011 was $396,000 with the percentage of price received translating into 93.8%.
So it all comes down to more buyers, lower interest rates, fewer homes for sale, and pent-up demand are all contributing to what is now the strongest home buying market seen in the last quarter century.
|
 .
Here are 7 prospecting and follow-up guidelines that will help you replace optimism with sales:
1. Focus exclusively on prospects who are actively SEEKING to solve the problem you're positioned to solve, and you'll get their attention on the first or second attempt. If you don't get their attention, then you need more targeted and relevant prospects.
2. You're marketing in an era where everyone-including (and especially) your prospects-are moving at 100 mph. Life moves too fast for same-o, lame-o follow-up. You're either an immediate priority or invisible.
3. Leave non-prospects the hell alone. Continuing to "check in" for no good reason when you're in the invisible column gets real annoying real fast. You will damage your chances at future sales when you're a current pest.
4. Decision makers make decisions. If you're stuck in follow-up hell, you weren't dealing with a real decision maker in the first place. Following up with someone with no check-writing authority is like trying to teach a Rottweiler to drive. It may be fun for a short time, but then someone is going to get bitten.
5. "Short attention span theater" rules the day. If you follow up with today's hot prospect next month, the chances are excellent that your prospect will say, "Who are you again? You talked about what? When? I'm sorry, I'm just running to a meeting. Bye!"
6. Alpha dogs BUY-Sheep dogs BARK. The chances are that, no matter what your product or service, if you're selling to a decision maker, that person has an alpha dog personality. They are Drivers on the DISC Profile, and they make fast decisions with a low tolerance for dickering, bureaucracy, or delay. If you want to make a fast sale, the REAL buyer is your best ally to make that happen. Or not. But following up to drag out the process will simply turn them off.
7. If you relentlessly focus on the right prospects at the right time for the right reasons, you'll spend a whole lot less time convincing and persuading fence-sitters and a whole lot more time focusing like a laser beam on the buyers who are ready, willing, and eager to do business with you right now.
# # #
|
|
A.S.A.P. Attorney Settlement Assistance Program
Our real estate secretarial services are able to assist you in every  aspect of the sale, purchase, refinance or loan closing process. We will directly communicate with all the parties involved in the transaction and coordinate and obtain all the items necessary to bring the matter to closing.
Our ASAP services can be individually customized to fit your needs. These services include:
- Documentation Preparation
- Disbursement of Funds
- Attendance at Closing
- HUD Preparation or
- Post-Closing Matters
|
|
Our Commitment to Excellence
Counsellors Title Agency wants to thank you for the opportunity to work with you and your clients to grow your business. Please feel free to click the link above or here to leave us a review on Google. We appreciate your business.
|
|
|
Careers @ Counsellors
 Sales: Leading NJ title insurance agency seeks experienced licensed salespersons to help expand its market share throughout the entire state. Benefits include health insurance, 401k with an employer match, flexible spending account, expense account, & marketing support. Send resumes by fax: 732-914-8898 or ralph@counsellorstitle.com
# # #
|
|
Free Online Title Insurance Calculator
Counsellors Title Agency announced its updated Title Calculator for New Jersey home purchases & refinances at: Title Calculator
Loan officers, real estate agents and home buyers can find out how  much title insurance will cost for purchases made in New Jersey.
Easy-To-Use Functionality
This online tool includes many of the endorsements involved in calculating the cost of a title policy in New Jersey. CTA's Title Calculator is a great tool for real estate salespersons, loan officers, attorneys and those who are buying or refinancing their home.
It calculates the cost of title insurance based upon the purchase price of the home, the loan amount, and the various endorsements that can accompany the loan. The calculator provides the user the scalability of selecting the various endorsements involved in the transaction.
|
Counsellors Title Closing Services for Attorneys
Counsellors Title provides its Attorney Settlement Assistance Program [ASAP] with the real estate attorney in mind.
The Counsellors ASAP program offers secretarial services to assist in the process of a sale, purchase, refinance or loan closing.
Counsellors will even communicate directly with all the parties involved in the transaction to coordinate and obtain all the items necessary to assist in the close.
ASAP includes:
- Documentation Preparation
- Disbursement of Funds
- Attendance at Closing
- HUD Preparation or
- Post-Closing Matters
For more information about the attorney services provided by Counsellors Title call our home office: 732.914.1400 or email us at info@counsellorstitle.com.
|
|
|
Handy Guide to Real Estate Sources
 Here are some of the most widely used governmental websites for the real estate industry.
Fannie MaeFreddie Mac |
|
I look forward to being of service to you, providing you with outstanding real-time information and some humor to make doing business a pleasure.
Sincerely,
Ralph
Ralph Aponte
Counsellors Title |
|
|
|
Like Us on Facebook
|  | |
|
|
|
