Wenceslao Fernandez Jr

• Real Estate Trends

Certainly a fine line. While government agencies may have to bid out supplies and purchase requisitions, it is also known that over time, some become "preferred" vendors. This sort of thing happens in all businesses, accross every industry imaginable. The real tricky fine-line is when abuse takes place and "kick-backs" or "sweeteners" so-to-speak, become the way business is conducted. Abuses should be stopped (though this is more of a wish than a reality), and are most definitely not limited to real estate related businesses. This is a well intended article aimed at making sure that Joe and Jane Public do some due dilligence when dealing with unknowns. However, if my brain surgeon prefers a certain nurse or anesthesiologist alongside him/her during brain surgery, do you think I'm going to question his choice? I may want to know that the doctor is who he/she says he/she is, that they have the credentials to perform the surgery, that the hospital where the surgery is to be performed is not someone's garage and perhaps even that they're up to date on their malpractice insurance payments. However, to then investigate and question his/her choice of team members, is not only too much for most folk to do (even professionals end up with someone after some trial and error in finding them), it is also well... impractical. www.MiamiRealEstateKing.com Certified Distressed Property Expert Miami-Dade County, Florida.

There is a book which is a MUST READ for any active, professional Realtor anywhere in the USA or Canada called "The Millionaire Real Estate Agent" by Gary Keller. This is a step-by-step guide to every system and business model that you must implement to run a successful real estate business. From mindset to managing a team or franchise, and everything in between, you will find an answer to your questions. Remember, luck is when preparation meets opportunity. Read the MREA book and prepare to embrace your lucky stars. www.MiamiRealEstateKing.com Certified Distressed Property Expert Miami-Dade County, Florida.

This industry is prime for 4-eye (or 10-eye) principle of review. Yes, there are people who will try to get away with anything that others will let them. Buyers will try to buy, loan professionals will try to process and close a loan, and lenders want the status of being the largest lender or whatever accolades they seek for themselves and their stockholders. In the end, the internal process of a financial institution (which is soooo controlled and regulated), should be able to catch inconsistencies in an application. The final buck should stop at the underwriter's desk or committee. After all, the board of directors, the CEO, CFO, etc all come up with a decision to improve sales and their bottom line, prompting Presidents and VP's and other executives to brainstrom and put together new products to package and promote, that will in turn cause new loans to be made. The chain continues down the line when the VP's of Sales ask their supervisors to lash their sales and marketing forces to promote their new products with terms like SIVA, SISA, NINA, NIVA and whatever else they can come up with to make sure loan applications begin to come in by the thousands. Touting buyers and homeowners with money loan carrots, only promotes exactly what they want. Mass applications. Among them, there are without a doubt some that should never get past the entire process, but they do. I only hope there are also people out there looking with common sense glasses through all the applications, making sure only the good ones get approved and funded. But...we live in an imperfect world. Lenders wanted more business, and they got it! Now we all have to live with the consequences. Perhaps if loans had not been so easy to obtain, everyone would have in turn been a bit more measured. But in the panic, overexhuberance took hold, and voila! Builders got approved - and they built Buyers got approved - and they bought Homeowners got approved - and they cashed out in a refi Now... Lenders don't want to lend (or can't) - so they don't Builders can't borrow - so they stopped Buyers can't borrow - so they don't Homeowners can't borrow - so they don't Now, all we need to do, is find a happy medium to resume measured lending, which will cause measured borrowing for measured purchases. At least until market confidence is restored, and beyond. www.MiamiRealEstateKing.com Certified Distressed Property Expert Miami-Dade County, Florida.