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Efficiency in the Closing Process with 3D Tours
Taking a property listing from posting to closing can be a complicated process. Creating efficiencies in each step can be simple and is essential to completing it with consistent success Whether you're an agent or client, the process of listing a home and searching for one is a multi-stage effort. This is something we realize at The Kite Team as a part of the larger Keller Williams Infinity Group, and in our first post of this series we covered maximizing the client and agent connection where they meet in the first stage of closing a deal.
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[Podcast] Tech Redefining the Closing Experience? Just Ask Qualia!
The closing. Not sexy and not terribly interesting. Yet it's a place that generates an enormous amount of profit for brokerage companies who understand that building a business around GCI margin is increasingly a very, very challenging endeavor. And despite this very important role in the industry, the title and closing process has been largely unchanged by technology. But that just might be changing. In this episode of Gradually...Then, suddenly!, we take a hard look at what might be THE closing platform of the future. Meet Nate Baker, the CEO of Qualia, who just a few short years ago was an Ivy League grad, and today has raised more than $40 million to prove that technology and a new business approach can radically change the closing experience for all participants, even consumers. Want to know more? Tune in by clicking the button below or listening on your favorite podcast site. Tune in to the podcast now! Russ Cofano is a thirty-year real estate industry veteran who has served in executive capacities in various industry sectors. Russ was President of eXp World Holdings, led Industry Relations for Realtor.com, and acted as Chief Executive Officer for the Missouri REALTORS. He is a noted author and speaker at industry events on data, technology and innovation in the brokerage industry.    
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Qualia Raises $33 Million for Transaction Management
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Bitcoin Moves to Real Estate: A Real Estate First!
"Accepts Bitcoin" signs are popping up worldwide from NYC to South Africa. Rapidly gaining acceptance, Bitcoin use is growing from smaller coffee and retail merchandise purchases to the first ever real estate buying transaction accomplished entirely via Bitcoin. Another sign of the widespread acceptance of the currency: a newly built custom Texas home's entire purchase price was recently transferred to its seller/builder via Bitcoin.
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Which States Have the Highest and Lowest Closing Costs?
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Re-Inventing the Collection of Earnest Money: A Case Study
John Mosey, CEO of NorthstarMLS, is known as one of those leaders that when he finds a business challenge his brokers face, will do his best to find a solution. He is not afraid to go first. As such, he has helped to bring to market many exciting new products that serve the greater good. I had the pleasure of interviewing him about the latest gem he has brought to the market for his subscribers. It's a company called TrustFunds. TrustFunds, led by Lynn Leegard, was inspired by challenges she faced as was General Counsel for Edina Realty, based in Minneapolis. Many of you may know Edina Realty. They are the crown jewel of Home Services of America and they hire only the best and brightest. This exciting new service has helped automate one of the last elements of transactions that are not handled online – the delivery and deposit of earnest money. John told me that when he began to talk to his executive committee about how earnest money is handled, many became very sheepish. They readily admitted that earnest money is not handled as carefully or safely as it should be. Most transaction documents are processed, signed and distributed from secure online servers. Earnest money, on the other hand, is collected by hand. Many times, earnest money checks end up in the front seat of an agent's car or in the bottom of their purses while waiting to be deposited. Earnest money is the last process in the real estate transaction that has not been brought online.
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Transaction Checklists: The Magic Pill for Compliance
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Earnest Money Spoils the Online Transaction
The Inman Connect conference does not often have many brand new ideas. But if you look hard enough, they are there. A year or so ago, I met a company that was focused on transforming home prices to total cost of living prices (TLCEngine). This year, I met Lynn Leegard who co-founded a company called TrustFunds, with the tag line of Earnest Money Made Easy. Coincidentally, both TLC Engine and TrustFunds are both services offered through NorthstarMLS, based in Minneapolis, MN. Northstar CEO John Mosey seems to have a knack for launching very unique services that solve significant problems in his market. Commute costs, utility costs, and insurance costs play a major role in home ownership in Minneapolis (as is the case in most major cities). The higher price you pay for a home closer to the places you work may be less than what you would pay for a lower priced home that has a further distance to travel to work. TLC Engine runs that equation. It is a great solution. Likewise, TrustFunds is a great solution. Forms, transaction management, and digital signature solutions offered in the Northstar market area are delivered through an online forms and transaction management platform called Instanet. Everything can be done online except the transfer of earnest money, a.k.a. the deposit the buyer puts down on the house with their offer. As a result, agents end up running around picking up and delivering checks even though everything else can happen online.
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5 Key Factors to a Successful Negotiation
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5 Tips For a Successful Negotiation
Whether it's money, time commitments or more specific buying and selling, being skilled in negotiations can be crucial to your success. In this fast-paced technological environment, these key tips will help you gain proven, real world negotiation skills to help you create a WIN/WIN outcome to your negotiations helping you achieve your goals. 1. Do your homework. This is what detectives do. Gather as much pertinent information prior to your negotiation. What are their needs? What pressures do they feel? What options do they have? Doing your homework is vital to successful negotiation. You can't make accurate decisions without understanding the other side's situation. The more information you have about the people with whom you are negotiating, the stronger you will be. People who consistently leave money on the table probably fail to do their homework. 2. Don't be in a hurry. Being patient is very difficult. We want to get it over with. Anyone who has negotiated in Asia, South America, or the Middle East will tell you that people in those cultures look at time differently than we do in North America and Europe. They know that if you rush, you are more likely to make mistakes and leave money on the table. Whoever is more flexible about time has the advantage. Your patience can be devastating to the other negotiator if they are in a hurry because they start to believe that you are not under pressure to conclude the deal. So what do they do? They offer concessions as a means of providing you with an incentive to say YES.
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