Mike Patel's Blog: Real Estate

Typical Anaheim Street

May 25, 2012

I was just driving the neighborhoods of the city of Anaheim.

For some reason when I came up this street, I just had to stop and take a picture of this cul de sac street near the corner of La Palma and Magnolia.

This is a nice neighborhood of Anaheim, close to the 91 and 5 fwys. The homes have been here for over 40-50 years and a lot of the homeowners are well established and long time owners…

Well, have to drive on now…to other neighborhoods.

Mike Patel www.MikePatel.com www.anaheim.net

mike@mikepatel.com

Leave a Comment » | Anaheim | Tagged: anaheim, anaheim area, Anaheim California, anaheim neighborhood, city of anaheim | Permalink
Posted by Mike Patel

Do you want to work with a Good agents or a Great Agents?

February 25, 2011

Do you want to work with a Good agents or a Great Agents?

Real Estate Agents come and go! 50% of all agents leave the business in the first year. Over 80% of the agents leave the business within 5 years. That leaves the Great agents working and in the business ever after. More than 80% of the real estate business is done by 20% of the agents.

So what makes for a Great Agent?

Great agents

They are contributor’s They look out for the benefit of their clients first.

They are students. They keep learning and changing as the market and client expectations changes.

They are service oriented. They always want what is best for the clients first.

They are technology oriented. As the marketing, processing and communications change with technology, they catch on fast and keep with technology.

They have a great follow up system. They stay in touch with their clients and have them in the loop all the time.

They know the market they deal in. They keep up with the trends in the local market as well as the national market.

They are great at marketing. Not only do they market their properties, but also market their services.

They are community oriented. They help and care for their community with the many contacts and resources they have.

They respect their clients, peers and affiliates. This also creates for a great team work approach.

They believe in themselves.

Next time you buy or sell, feel free to work with Great agents. They are out there. They will Perform and Deliver to your expectations.

Mahesh Mike Patel Prudential Ca Realty

www.MikePatel.com Search Homes Like An Agent Dream Home Finder

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Leave a Comment » | Communications, Homes for Sale, Motivational, Real Estate | Tagged: great agents best agents best realtors | Permalink
Posted by Mike Patel

More Business, Fewer Clients.

February 22, 2011

More Business, Fewer Clients.

I have been in the real estate business for many years. I have tried all the tricks in the trades to get more clients all the time. In fact I have spent too much time chasing after new clients.

I have worked on For Sale By Owners, Expired listings, Open Houses, Just Listed and Just sold mail outs and drop offs, news paper advertising, craigslist postings, Facebook, twitter and Linked posts, blogging, and networking etc etc. Many times I feel like I work on these lead generation activities all at the same time and get overwhelmed! Lot of my time goes to new business generation, sometimes it pays off and sometimes it does not.

I went to a mixer/seminar recently, and the speaker quoted “More Business, Fewer Clients” This speaker is a heads a company that does close to $1 Billion per in sales! and they have less than 100 clients! That is when it hit me! Why am I chasing so many buyers and sellers, when I have gold in my database! Past clients, friends, and a great circle of influence.

Isn’t it true in any busines that 80% of the business comes from 20% of the people! It should apply to me as well.

Any suggestions and feedback are most welcome.

Mahesh Mike Patel Prudential CA Realty. www.mikepatel.com

mikepatel@sbcglobal.net

Leave a Comment » | Communications, Homes for Sale, Motivational, Real Estate Update | Tagged: fwer clients, more business, referral business | Permalink
Posted by Mike Patel

Why A Home May Not Sell. Expired Listing.

February 20, 2011

Why a home may not sell, Expired Listings.

Many homes do not sell, and then become Expired Listing.

Here are some reasons why listings Expire.

Mahesh Mike Patel Prudential Ca Realty

www.MikePatel.com Search Homes Like An Agent Dream Home Finder

Leave a Comment » | Communications, Homes for Sale, Real Estate, Uncategorized | Tagged: expired listing, expired listings, why a home may not sell | Permalink
Posted by Mike Patel

Expired Listings – Why Some Agents Still List Them High, Knowing It Won’t Sell.

February 19, 2011

Expired Listings – Why Some Agents Still List Them High, Knowing It Won’t Sell.

I have lsited and sold many expired homes. These are homes that were on the market, but did not sell. The most common reason why a house does not sell is usually because it is priced high.

There are other factors why a house does not sell like condition and marketing etc.

I went on an expired listing last week. 15 minutes into the appointment, I knew I did not want to take the listing. The sellers had boght the home in April 2010 for at $300,000(not exact sale price). For job related reason, they have to sell, and so listed the house in Nov 2010 for $340,000!!. Of course it did not sell. The market has gone down last year in Orange County, not up! No remodeling was done either. I recommended that they list at $300,000 or less!

I noticed the next day the house was listed by a competitor, at the same listing price…$340,000. We all know that this house is not going to sell, know matter how much marketing will be done. She wants to list at $340,000 so she can recover her closings costs from both buying and selling the home!

bad realtors

So the question is why do Real Estate agents take overpriced listings, knowing the house will not sell at that price.

Here is the WHY::

1. They are desperate and hungry agents, only looking to their benefit, not the sellers.

2. They do not have a marketing budget. They want FREE sign calls.

3. They promise to do Open Houses, checking out the sellers out of their own homes on weekends. Meanwhile, the agent is picking up seller and buyer leads, at no cost to the agent.

4. They lack the skill and confidence to tell the sellers the truth, ‘This house will not sell at that price, Mr/Mrs Seller!

5. They have low self esteem and earn money at others efforts and costs.

6. They will take listing at a high price, then bug the sellers to drop the price over and over again.

(This blog is meant to be an ‘educationa’l moments for the seller and not a put down for agents. This scenario may not always apply.)

Mahesh Mike Patel Prudential Ca Realty

www.MikePatel.com Search Homes Like An Agent Dream Home Finder

Leave a Comment » | Communications, Homes for Sale, Real Estate | Tagged: expired listings don't sell, why not to take overpriced listings | Permalink
Posted by Mike Patel

Housing Trends Newsletter. Feb 15th 2011

February 16, 2011

Housing Trends Newsletter. Feb 15th 2011

Welcome to the most current Housing Trends eNewsletter. February 15th 2011. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click on this link to view the Housing Trends February – 2011 Newsletter

http://mikepatel.housingtrendsenewsletter.com

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.

Housing Trends eNewsletter is filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, consumer videos, blogs, real estate glossary, mortgage rates and calculators, consumer articles, and REALTOR.com local community reports.

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.

With Compliments,

Mahesh Mike Patel Prudential Ca Realty

www.MikePatel.com Search Homes Like An Agent Dream Home Finder

Leave a Comment » | Communications, Real estate conditions weekly update, Real Estate Update | Tagged: Monthly newsletter, Real Estate update | Permalink
Posted by Mike Patel

First Time Home Buyers New Options. 99% Financing.

February 12, 2011

First time homebuyers have a new option in financing that can help them purchase the home of their dreams.

CalHFA FHA Program highlights include:

First time homebuyer or qualified Veteran
620 minimum credit score
Purchasing property in designated target area
Seller concessions 3%
Loan up to $417,000
Primary, single family residence
Rate reductions available when CalHFA
Condos and PUDs must be FHA approved
Program is used with CHDAP
Homebuyer Education & Counseling course required

Current sales price limits and income limits apply
Riverside County & San Bernardino County
Sales Price: $550,000 for target area and $450,000 for non-targeted area
Orange, Los Angeles & Ventura Counties
Sales Price: $802,725 for target area and $656,775 for non-targeted area
CHDAP Program highlights include:

Can be used for down and closing
Interest rate reduction when used with CalHFA
3% of sales price used as a second mortgage
1% down payment of borrower funds
CHADAP is a Deferred loan

Contact us for more info or any questions. 714.470.8600 mikepatel@sbcglobal.net

Mahesh Mike Patel Prudential Ca Realty

www.MikePatel.com Search Homes Like An Agent Dream Home Finder

99% Financing Available with CalHFA FHA & New CHDAP

Leave a Comment » | Homes for Sale, Mortgages, Real Estate, Real Estate Update | Tagged: First time home buyer low down, low downfirst time home buyers | Permalink
Posted by Mike Patel

Mike Patel's Blog: Real Estate – Talk

Typical Anaheim Street

Do you want to work with a Good agents or a Great Agents?

More Business, Fewer Clients.

Why A Home May Not Sell. Expired Listing.

Expired Listings – Why Some Agents Still List Them High, Knowing It Won’t Sell.

First Time Home Buyers New Options. 99% Financing.

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