A good reminder from Dirk Zeller on qualifying. Developing the skill of qualifying

The most important skill in sales is qualifying. It is the ability to separate the non-motivated buyers and sellers from the motivated ones who want to do something now. Top-producing Agents know how to do this quickly and efficiently. They have a specific step-by-step series of questions that remove the unmotivated people from their lives. We are going to delve into the skill of qualifying buyers.

By now you’ve probably read/heard a lot about Sunday nights 60 Minutes expose on real estate agents. Allen Hainge posted on his CyberStars blog on Active Rain about it. There’s some very good advice for agents.

Like many of you, I saw Sunday night’s “60 Minutes” segment. I have also read the comments on AR regarding the segment. Like many of you, I see a disparity between the porrtrait of the “typical agent” shown on the segment and what top tier REALTORS do to earn our fee. I have one observation, however, that many of those commenting seem to have missed: perception is reality. If the consumer perceives you as a “typical agent” who does little to earn your fee, that is their reality. Deal with it. Learn from it. Most importantly, adjust your business accordingly.

He then goes on to list several things that you should be doing to prove your worth to your potential clients.

If you aren’t yet a member of Active Rain, you owe it to yourself and your clients to join.  It doesn’t cost anything and you’ll gain a wealth of knowledge.  To join, just go to http://activerain.com/action/referrals/jcsupsvc. I don’t get paid for your signing up but I do earn points.  More importantly, I know that I’ve helped you to become a better Realtor.

In a move that will probably destroy the down payment assistant programs that many homebuyers use, HUD has proposed that home buyers using government insured loans be prohibited from accepting down payment gifts that are indirectly funded by the seller.

The new proposal threatens the existence of programs such as the Nehemiah Corporation and Genesis that have given out millions of dollars in payment assistance to lower income home buyers.

According to the Wall Street Journal,

According to HUD, the overall foreclosure rate for FHA-mortgages used to purchase homes in 2004 was 3%, while such loans involving down-payment gifts from nonprofit groups had a foreclosure rate of 6.4%.

You can view the proposed rule change in last Fridays Federal Register. Comments are due July 10, 2007.

Here’s the summary:

SUMMARY: Through this proposed rule, HUD submits, for public comment, specific standards governing a mortgagor’s investment in property for which the mortgage is insured by the Federal Housing Administration (FHA). Specifically, this proposed rule would codify HUD’s longstanding practice, authorized by statute, of allowing a mortgagor’s investment to be derived from gifts by family members and certain organizations.
The standards would address a situation in which the mortgagor’s investment is derived from a gift, loan, or other payment that is provided by any donor, including an individual or an organization, and would also specify prohibited sources for a mortgagor’s investment. The proposed rule would establish that a prohibited source of downpayment
assistance is a payment that consists, in whole or in part, of funds provided by any of the following parties before, during, or after closing of the property sale: (1) The seller, or any other person or entity that financially benefits from the transaction; or (2) any third party or entity that is reimbursed directly or indirectly by any of the parties listed in clause (1).